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. Last Updated: 07/27/2016


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Electricity Providers Face Bankruptcy

Electricity suppliers across the country are cracking down as the number of delinquent private and corporate customers surges, as the dilapidated industry is mired in debt linked to unpaid consumer bills and the multibillion-dollar investment programs that investors signed onto during the privatization of Unified Energy System, which wrapped up just weeks before the financial crisis struck.

World Bank Sees Grim Year Ahead

The World Bank on Tuesday unveiled a grim picture of Russia’s economic outlook, slashing the country’s 2009 growth forecast by more than half and saying the ruble’s slide would likely be allowed to continue.

Medvedev Means Business in Latin America

Official visits by Russian and Latin American leaders have generated some colorful moments in the past, ranging from Vladimir Putin’s impromptu display of his football skills in Brazil in 2004 to Venezuela’s Hugo Chavez being made an honorary Cossack in Rostov-on-Don last year.

Severstal Halves Production

Severstal has cut its production by half and applied for a $244 million loan from Vneshekonombank, chief financial officer Sergei Kuznetsov said Tuesday.

Oil Price Rebound Lifts Stocks

The MICEX Index climbed for the first time in five days as oil pared earlier losses and on speculation that a rise in early U.S. stock trading will boost world equities.

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