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

. Last Updated: 07/27/2016

Investment Rises

MOSCOW -- Direct foreign investment in Russia this year will be about 600 billion rubles ($23.21 billion), or 14.3 percent of the gross domestic product, Interfax quoted Deputy Economics Minister Vladimir Kossov as saying Tuesday.

Kossov said direct foreign investment was up sharply this year amid a drop in investment in recent years. Industrial output could be increased 8 percent to 12 percent by just providing more contracts, without even expanding or modernizing Russian factories, the agency reported.