Articles by Derek Andersen

Deputy business editor Derek Andersen started at The Moscow Times as a business reporter in September 2010. Before that he worked at a number of publications in Moscow, including Kommersant, The New Times and Express-Chronicle.

Court Leaves VimpelCom's Hands Tied

The Moscow Arbitration Court declined Wednesday to hear VimpelCom's appeal of interim measures restricting the Russian company's activities while a lawsuit filed by the Federal Anti-Monopoly Service against Telenor, a shareholder in the telecoms operator's Dutch parent company, is settled.

RusAl in $850M Finance Deal With Chinese Bank to Build Siberian Factory

United Company RusAl and the Export-Import Bank of China have signed a cooperation agreement on a RusAl greenfield project in Eastern Siberia worth up to $850 million.

Newsmaker: Scholarly Belousov Viewed as Putin's Chief Economic Ally

Dapper, gray-haired Economic Development Minister Andrei Belousov, 53, had a distinguished academic career before entering full-time public service.

Russia Abroad: In Ethiopia, Russian Is the Language of Healing

Addis Ababa is home to the last Russian Red Cross outpost abroad, a remnant of a network that, in its Soviet heyday, included locales such as Pyongyang and Beijing.

Petersburg Native to Head Realtor Group

St. Petersburg realtor Alex Romanenko has been elected president of the International Real Estate Federation, which unites 100 national real estate associations worldwide.

Kaku Helps Rostik Celebrate 30 Years

Rostik Group president Rostislav Ordovsky-Tanayevsky Blanco celebrated his companyТs 30th anniversary by inviting about 300 Уpartners, friends and the best employeesФ to hear U.S. science evangelist Michio Kaku speak about the future of technology.

Survey Shows Details of Urban Life

The conventional wisdom that "Moscow is not Russia" is confirmed by a recent Cushman & Wakefield report on retail facilities and spending around the country.

Moscow's Luxury Real Estate Rankings Could Use Improvement

Moscow made a mediocre showing in the Global Cities Survey by international luxury real estate agency Knight, but the firm sees an upward trend in the city's fortunes.

Bank of Moscow Boss Says He's Left Russia

Bank of Moscow president Andrei Borodin has left the country amid growing speculation that he might face fraud charges in connection with a loan that investigators say ended up in the personal bank account of billionaire Yelena Baturina.

Food Businesses Cater to Startup Spirit

A catering business, just like any self-employment in Moscow, isn't for the lax. For creative individuals willing to work hard, catering offers opportunities that range from profitable part-time jobs to a chance to open their own company Ч eventually.

Mortgage Risk, Russian-Style

Being invited to a bank board member's barbeque is a better indicator of whether his institution will give you a mortgage than your actual credit history, according to a report by Penny Lane.

Mistral Construction In Russia, But Not by Pugachyov

A new shipyard will be constructed on Kotlin Island, 32 kilometers off St. Petersburg in the Baltic Sea, in order to build two Mistral helicopter carriers after 2014, a military source told RIA-Novosti.

What Lies Ahead After a Year of Thieving

The 2010 annals of corruption stories took a creative twist this week when the public learned that Moscow's metro chief is also a talented inventor.

U.K. to Scrutinize Firms With Russia Ties

International companies doing business in Russia will be subject to greater scrutiny by the United Kingdom beginning in April, when a draconian anti-corruption law enters into force, lawyers warn.

PepsiCo to Invest $250M in Azov

PepsiCo is setting up a $250 million ecosystem of farming and production in the southern city of Azov, opening a new potato chip plant and laying the cornerstone for a beverage plant in close cooperation with Rostov regional authorities.

Troika Exec Arrested at JFK in Fraud Case

Troika Dialog global markets division head Peter Ghavami has been arrested in the United States on a fraud charge. The charge against him is related to activities that took place in 2001 and 2002.

$14Bln Plan for Far East Railroad

Prime Minister Vladimir Putin outlined plans for a multibillion-dollar extension of the Trans-Siberian Railroad on Monday, which he said would boost commodities production and investment in the Far East.

RusAl Picks Partners For Listing

RusAl said Wednesday that it chose Sberbank as the issuer and VTB Capital as its advisor for the first-ever Russian Depositary Receipts.

Overflight Fees Could End With WTO

Russian airlines look ready to weather the loss of hundreds of millions of dollars of overflight fees from European airlines. An agreement to eliminate the charges was announced Monday by Fernando Valenzuela, head of the EU delegation to Russia.

Russian Railways Signs $2Bln Italian Venture

Russian Railways and Italian conglomerate Finmeccanica said they had signed a memorandum of understanding on the creation of a joint venture to develop systems for Russian rails.

United Russia Claims Food Price Reduction

A specialized group created by the United Russia political party has claimed that it succeeded in reducing basic food prices. People's Oversight "has proved itself as an effective way to fight rising prices," a group official said.

Kudrin Wants Privatization Fund

Finance Minister Alexei Kudrin proposed creating a reserve fund of proceeds from privatization, interest from which could be used to plug budget gaps, during a finance forum Wednesday.

More Spring Crops, Less Poultry Needed

The government will halve the quota on poultry imports next year and wants farmers to sow 25 percent more spring crops to meet the demand after a severe drought this past summer, First Deputy Prime Minister Viktor Zubkov said Tuesday.

China Starts to Trade Yuan Against Ruble

The ruble joined the ranks of foreign currencies traded in Shanghai on Monday as Prime Minister Wen Jiabao arrived in St. Petersburg for a three-day visit.

Reluctant Kudrin Defends Tax Hikes

Finance Minister Alexei Kudrin garnered praise for his candor when he spoke Friday at a tax conference, but his words made few happy: Business will pay more taxes, and by a lot.

Nokia Agrees to Join Skolkovo Center

Nokia committed on Wednesday to open a research facility at the Skolkovo high-tech innovation center being set up outside of Moscow, with a memorandum of understanding signed in a ceremony at the Moskva-City business center.

Chichvarkin Offers IPO Assistance

Former Yevroset co-owner Yevgeny Chichvarkin would be happy to lend a hand in the company's upcoming initial public offering, he said in an interview published Tuesday.

Daily Moscow Commute Gets Longer

Forty percent of Muscovites spend more than an hour each way commuting to work or school, according to a survey by the state-run VTsIOM polling agency published Tuesday.

Daimler Investigation Opened

The Investigative Committee of the Prosecutor General's Office said Friday that it is opening a corruption case related to purchases of Mercedes-Benz automobiles by state agencies.

Mitsubishi Revives $1Bln Tatarstan Fertilizer Factory

Japan's Mitsubishi Heavy Industries said that it would build a $1 billion fertilizer plant in Tatarstan for a state-owned Russian company, reviving a deal that didn't take off two years ago.