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. Last Updated: 07/27/2016


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Obama Drops European Missile Plan

President Dmitry Medvedev said he valued Obama's "responsible approach" and was ready to discuss further cooperation during a meeting with the U.S. president in New York next Wednesday.

GAZ, Aeroflot to Fire Thousands of Workers

Oleg Deripaska's GAZ Group will lay off 14,000 employees, or 37 percent of its work force, while Aeroflot will fire 2,215 employees, or 14 percent of its staff, the ministry said.

Kudrin Predicts Oil Price Correction

Oil prices shot from a low of $40 per barrel in December to about $70 now because the United States, like other governments around the world, flooded its economy with money to fight the recession, prompting speculative capital to invest more in commodities, Finance Minister Alexei Kudrin said Thursday.

HP Expects Gains in Falling Market

The country's IT market was worth more than $5.22 billion last year, up 18.7 percent from 2007, according to market research firm IDC.

NATO Envoy Says No Missiles to Kaliningrad

Combined Reports
Russia's envoy to NATO said new missiles will not be deployed in the Kaliningrad enclave now that the U.S. has dropped plans to build an anti-missile shield in Eastern Europe.

Putin Praises U.S. Missile Shield Decision, Urges Removal of Trade Barriers

The Associated Press
Putin hailed Obama's move as "right and brave" on Friday and said it has raised hope that the U.S. administration also will move to cancel all existing restrictions on trade with Russia.

Poland Upset With Obama's Decision on Missile Shield

The Associated Press
Polish tabloids on Friday slammed Obama's shift in strategy as treachery, and the Polish president weighed in with his own dissatisfaction.

Dvorkovich Says Crisis Measures to Continue

Dvorkovich, who is the Kremlin's point man for the summit, said the economic stability reached so far was purely based on the government's stimulus measures and there was no reason to discontinue the measures.

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