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. Last Updated: 07/27/2016

Telecoms Revenue Up 8%

GENEVA — The telecommunications industry increased revenue by 8 percent this year as online traffic quadrupled on demand for mobile phone, fixed-line and Internet services, Communications and Press Minister Igor Shchyogolev said Tuesday.

The government will spend 250 billion rubles ($8.4 billion) developing “high technologies” next year, Shchyogolev said. Spending on information technology in Russia will reach 443 billion rubles this year and will rise on average by 7.1 percent annually through 2013, research firm IDC said in a report Monday.   (Bloomberg)