Food Retailer Magnit Sees August Sales Blossom

Russia’s biggest food retailer Magnit said Tuesday its retail sales grew 34 percent in August year-on-year in ruble terms. Magnit said in a statement its sales totaled 65.6 billion rubles ($1.77 billion) last month, bringing its results for eight months to 480.2 billion rubles.
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International Carmakers Confident of Market Revival

International carmakers are hopeful that Russia can become Europe’s biggest market and vindicate their decision to spend more on localizing production in the country, company executives said on the sidelines of the Moscow International Automobile Salon on Thursday. If that is to
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Building Begins on Moscow’s Vast New Ring Road

Construction of a vast new 530-kilometer ring road encircling Moscow has begun. Aimed at stimulating development in the areas around the capital and tackling Moscow’s notorious traffic congestion, the Central Ring Road is being built in sections through public-private partnershi
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Russia Begins Construction of Pipeline to China

US KHATYN, republic of Sakha — President Vladimir Putin on Monday oversaw the start of construction on a giant pipeline that is due to ship $400 billion worth of Russian gas to China in the three decades after flows begin in 2019. The 4,000 kilometer Power of Siberia pipeline, being b
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