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. Last Updated: 07/27/2016


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Senator Pugachyov's Bank Goes Bust

International Industrial Bank, one of the country's top commercial banks, closed its doors Tuesday after the Central Bank revoked its license. The bank is the first top-30 bank to be closed in the past several years.

Mitvol Fired as Luzhkov Starts New Job

Acting Mayor Vladimir Resin on Tuesday fired Oleg Mitvol, the outspoken prefect of the city's Northern Administrative District, in a manner that echoed Mayor Yury Luzhkov's dismissal exactly a week earlier.

Russian 'Hackers' Busted by FBI

Eleven Russian students are among 20 people detained in the United States on suspicion of working for an international group of hackers that stole at least $70 million from bank accounts worldwide.

Putin Offers $3Bln for 'Acute Problems'

An additional 91 billion rubles ($3 billion) will be funneled into the federal budget by year's end to “solve a number of acute problems without waiting until January,” Prime Minister Vladimir Putin said at a presidium session Tuesday.  

98% Skip Alimony Payments in Moscow

Only 2 percent of alimony payers in Moscow part with the money voluntarily, while the rest of the cases require the intervention of court marshals — who have barred thousands of debtors from leaving the country, officials said Tuesday.

Putin Promises No Stagnation

Prime Minister Vladimir Putin said Tuesday that Russia, unlike many developed countries, wouldn't face stagnation after the government winds down its anti-crisis program.

'Alien' Cult Leader Held on Sex Charges

A self-proclaimed alien from the star Sirius has been arrested in Novosibirsk on charges of organizing a nationwide totalitarian sect that brainwashed and sexually abused members, police said Tuesday.

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