Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Mars Signs Invest Plan

LONDON () -- U.S. chocolate and petfood giant Mars Inc said Friday it had become the first foreign company to sign an agreement with the Russian government under a decree designed to bring much-needed investment to the economy.

The firm signed the deal in London on Thursday during a visit to Britain by Prime Minister Viktor Chernomyrdin.

Under a decree signed by President Boris Yeltsin in January, companies which make direct capital investments worth more than $100 million in new production facilities can be granted 50 percent tariff reductions on goods they import into Russia