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. Last Updated: 07/27/2016


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Dutch Apologize to Moscow for Detention of Russian Diplomat

The Dutch foreign minister apologized to Moscow on Wednesday for the detention of a Russian diplomat in The Hague, saying his right to diplomatic immunity had been violated.

Economy Faces Stagnation Unless Productivity Increases

The Russian economy will stagnate if companies do not increase their labor productivity, which currently averages at 40 percent of that of the Fortune 500 Global companies, according to an annual ranking that Expert Rating Agency presented Wednesday.

Azeri Presidential Election Shows the Power of Oil

Ilham Aliyev was headed to win Wednesday's presidential election in the former Soviet republic of Azerbaijan, in what some analysts say is the perfect demonstration of how oil revenues can strengthen a country's leader both domestically and internationally.

Top Clinic Denies Return to Soviet-Era Punitive Psychiatry

Russia's top psychiatric institution held an open house Wednesday in an attempt to popularize its work, amid speculation about a revival of Soviet-style punitive psychiatry following the sentencing of an opposition protester to mandatory mental treatment.

Exit Poll: Azerbaijan's President Wins 3rd Term

The Associated Press
Azerbaijan's president won a third five-year term by a landslide in Wednesday's vote, according to an exit poll, extending decades of dynastic rule in the oil-rich Caspian Sea nation allied with the West.

Hugely Undervalued UTair to Split Helicopter and Airplane Divisions

The Moscow Times
As international banks conclude that UTair is massively undervalued, Russia's fourth-largest aviation group plans to divide its helicopter and airplane operations into two separate companies, the group's CEO, Andrei Martirosov, announced Wednesday.

New Central Bank Chief Shows Independence

When a minister abruptly proposed an inflationary change to the budget at a recent government meeting, the television cameras switched to the new Central Bank head, her face tightening.

Naftogaz Pays Blocked Bond Coupon, Avoids Painful Default

Ukraine's state oil firm Naftogaz has paid a delayed $21.7 million coupon to bondholders after its first payment was frozen by a London court, the country's finance ministry said Wednesday, narrowly averting a damaging debt default.

Magnit Posts 28% Sales Rise

The country's biggest food retailer Magnit said Wednesday that its sales rose by 28 percent in September, year on year, to stand at 46.2 billion rubles ($1.4 billion) after a rise of 29 percent in the previous month.

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