Articles by Yelena Dombrova
Because of the ice coating the Gulf of Finland, the growth rate of cargo turnover in St. Petersburg's port has fallen, and dockworkers have received about $10 million less than they could have, shipping experts said.
Wal-Mart is currently in discussions with TPG Capital, a private equity fund and owner of a 25 percent stake in St. Petersburg retailer Lenta, on the possibility of buying it shares, an executive at the Russian retail firm said.
Telegrad, a developer that is building a television complex and an art palace in St. Petersburg, is offering the city a stake in the project.
The crisis has presented new opportunities for chains of restaurants and cafes, which can now afford to rent premises that were previously too expensive.