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. Last Updated: 07/27/2016


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Renault Invited to Up AvtoVAZ Stake

The first deputy prime minister said the government, which owns a 25 percent plus one share stake through Russian Technologies, was ready to consider giving more shares to Renault, which has a stake of 25 percent plus one share.

Nurgaliyev in No Mood to Celebrate Police Day

The country's top cop has been under pressure since April and is facing almost unprecedented rebellion from within after a police major Novorossiisk became an Internet sensation after publicly complaining about corruption and unbearable working conditions.

Investigators Slam State Corporations

In addition to several criminal violations, the prosecutor's office found numerous problems including unsanctioned outsourcing, excessive bonuses and absent supervisors.

Moscow Region Sees Flurry of Graft Cases

Alexander Morozenko, the mayor of Korolyov, is being investigated on suspicion of misusing nearly 19.4 million rubles ($674,540) from the municipal budget.

World Bank Wants Diversification

The government and economists have constantly argued that Russia relies to heavily on raw materials, but reform has proved hard, particularly amid high commodities prices in recent years.

Stiffer Penalty Sought For Alcohol on Flights

Pilots with alcohol in their blood while on duty could lose their license for up to three years and authorities who allowed the pilot to operate the plane would face a fine of up to 15,000 rubles ($522) if the legislation passes.

Ruble Hits 11-Month Peak After Warning

The ruble firmed to 28.63 against the dollar Wednesday after the Central Bank cautioned traders against bets on the currency.

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