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. Last Updated: 07/27/2016


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Kudrin Says State Spending To Grow

The government will lose nearly half of its planned revenues this year but will still increase spending by about $14 billion to support the economy and people's incomes, Finance Minister Alexei Kudrin said Wednesday.

Financial Monitors Wary of Mini-Madoffs

Rezeda Rafinkova, a 32-year-old doctor, took out a bank loan of 200,000 rubles in 2006 to invest in what appeared to be a legitimate financial company promising annual returns of up to 50 percent on the booming real estate market.

Chevron Quits Fields In Siberia

U.S. oil major Chevron pulled out of a joint venture with Gazprom Neft after disappointing finds at the two Siberian fields they explored, a spokesman for the Russian company said Wednesday.

McDonald's Plans to Open 40 New Stores in 2009

By Courtney Weaver / The Moscow Times
McDonald's will invest $120 million to open 40 new Russian restaurants this year, Khamzat Khasbulatov, the company's president for Russia and Eastern Europe, said Thursday. Posted 5:35 p.m.

Exxon Prepares to Drill at Sakhalin-1

ExxonMobil is preparing to drill new exploration wells at its $17 billion Sakhalin-1 project in Russia, even as a dispute with the government over budgets and work plans lingers.

Medvedev Targets Extremists

President Dmitry Medvedev on Wednesday ordered a crackdown on extremist groups trying to exploit the economic crisis by sowing unrest.

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