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. Last Updated: 07/27/2016


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Ruling Elite Largely Inspired by Putin Speech

More than 1,000 members of the Russian elite gathered in the golden halls of the Grand Kremlin Palace to listen to the annual presidential address that sets the state's policy for the coming year.

Putin's Speech Omits Anticipated Bombshell

Perhaps the biggest surprise about President Vladimir Putin's speech was that it contained no surprises. Expectations were high in the hours before the annual address after privately owned Dozhd television reported that Putin would propose abolishing mayoral elections and regional legislatures.

Putin, Facing Sputtering Economy, Declares a Tax Crackdown

President Vladimir Putin has capped off a year of aggressively seeking to fill the government's coffers by announcing that the government would begin to tax Russian offshore companies and no longer support foreign-registered enterprises.

Cargill Buys Stake in Novorossiysk Port to Boost Black Sea Presence

U.S. agribusiness giant Cargill said it bought a stake in a grain terminal in the port of Novorossiysk to bolster its access to export facilities in the Black Sea.

Criteria Set for Gauging State Manager Efficiency

The Moscow Times
Senior managers at state companies can review proposed key performance indicators, or KPIs, for the quality of their work, which have been published on the website of the Federal Property Management Agency, a news report said Thursday.

Single-Industry Towns to Get $10Bln Development Cash from VEB

The Moscow Times
State-run Vneshekonombank will oversee the distribution of up to 343.9 billion rubles ($10.5 billion) to develop single-industry towns through 2014, Kommersant reported Thursday, citing sources close to the bank.

Rosbank CEO, Dismissed Over Bribery Charges, Gets 26M-Ruble Payoff

The Moscow Times
Rosbank has reached a settlement deal with its former CEO Vladimir Golubkov, who will pocket 26.5 million rubles ($808,300), despite having been arrested on bribery charges and sacked earlier this year, a news report said Thursday.

Pipeline Capacity Exceeds Transported Volumes Twice Over

Russia has huge gas pipeline overcapacity, its oil majors feel they are overtaxed and shale technology is over here and in operation. These were the three most discussed topics at an oil and gas conference organized by Kommersant .

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