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. Last Updated: 07/27/2016


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Putin Spends $9.2Bln on Ships

Prime Minister Vladimir Putin oversaw the signing of seven contracts totaling 280 billion rubles ($9.2 billion) between the Defense Ministry and the United Shipbuilding Corporation at the Sevmash shipyard in Severodvinsk on Wednesday.

Kazakhstan Facing Islamist Insurgency

Kazakhstan authorities acknowledged Wednesday that an Islamist insurgency has spread to the republic from the North Caucasus, fueled by restrictions on religious freedom in the country.

Microsoft Ups Startup Support

Russian startups have good news to look forward to. The Skolkovo Fund and global software giant Microsoft will increase support for innovative projects, Microsoft operational director Kevin Turner and Skolkovo president Viktor Vekselberg announced Wednesday.

Banks Fund Study on Gas Flaring

The European Bank for Reconstruction and Development and the World Bank have allocated 1 million euros ($1.37 million) to commission a study of gas flaring in Russia, Azerbaijan, Kazakhstan and Turkmenistan.

Berlusconi Economic Effort Wins Approval

Russia backs the efforts by Italian Prime Minister Silvio Berlusconi — who recently vowed to step down — to stabilize the European country's economy, although the general strategy to bolster the euro-zone bailout fund remains unclear.

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