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. Last Updated: 07/27/2016


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Budgets For Next 2 Years Face Ax

The Cabinet will propose to cancel the federal budget for next year and 2011 instead of adapting them to falling revenues, Finance Minister Alexei Kudrin said Tuesday.

Makers of Nesting Dolls Seek Bailout

Alexei Polikarpov was apologetic during an interview in his cold, dimly lit office on the outskirts of Semyonov, the heart of Russia's nesting doll industry.

Severstal Posts Q4 Loss of $1.2Bln

Combined Reports
Severstal, the country's largest steelmaker, posted a fourth-quarter net loss of $1.2 billion on Wednesday after writing down $411 million of inventories and taking an impairment charge of $1.5 billion on assets.

Karelian Woman Vies for 'World's Best Job'

Australian tourism officials have dubbed it "The Best Job in the World": a six-figure salary for onerous duties such as whale watching, snorkeling and testing luxury spa treatments on a Great Barrier Reef island.

Hungary, Russia Sign Gas Pipe Deal

They agree to create a joint venture to build the Hungarian part by 2015.

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