Russia's Central Bank cracking down on costly consumer loansRussia’s Central Bank said Thursday that it was cracking down on costly consumer loans, including with a measure obligating banks that lend out money at 60 percent interest to back such loans by 600 percent with their own money.10:10 06.09.2013
52 convicts released under economic crime amnesty52 convicts have already been released from Russian colonies in accordance with the recently passed economic crime amnesty, the Federal Penitentiary Service reported on Monday.10:58 06.08.2013
Group suspected of illegally cashing $1.1 billion exposed - reportThe Interior Ministry has exposed a huge criminal group suspected of illegally cashing around 36 billion rubles ($1.1 billion).15:14 08.07.2013
Duma passes financial mega-regulator billThe lower house of the Russian parliament on Friday finally passed legislation creating a so-called financial mega-regulator. The law puts all non-bank financial organizations under control of the traditional banking regulator, the Bank of Russia.16:58 05.07.2013
Russia's Lower House adopts bill on economic amnestyThe State Duma on Tuesday lawmakers have approved a draft bill on economic amnesty in its second reading. The resolution releases from criminal liability, regardless of the designated prison term, individuals who were convicted or held liable under 27 articles of the Criminal Code related to business activities.09:54 03.07.2013
Municipal authorities to receive share of fines paid for consumer rights violationsA group of upper house legislators have sponsored a bill proposing that 50% of every fine paid by companies for violating consumer rights which does not go into the federal coffers be divided evenly between local governments and consumer rights advocacy groups.13:07 02.07.2013
Putin urges Duma to adopt amnesty for economic crimesRussian President Vladimir Putin urged the State Duma, Russia's lower house of parliament, to grant an amnesty pardoning those with first-time convictions for economic crimes who either have reimbursed the damages, or who have expressed the willingness to do so.16:50 21.06.2013
Kiev court endorses amicable settlement between Vanco and UkraineThe Pechersky District Court in Kiev has endorsed the amicable settlement between Ukraine and Vanco, the license holder of the Prikerchensky offshore area.15:53 07.06.2013
Cyprus Supreme Court approves deposit restructuring decisionThe Supreme Court of Cyprus on Friday approved a decision to write off some deposits with Cypriot banks, thereby dismissing the clients' complaints against the "unconstitutional decisions" of the government and the Bank of Cyprus.14:12 07.06.2013
US introduces currency sanctions against IranThe United States has introduced additional sanctions against Iran designed to prevent Tehran from acquiring nuclear weapons, the White House has announced on Tuesday.12:21 04.06.2013
Troubled Liepajas Metalurgs smelter seeks legal protectionThe ailing Latvian smelter Liepajas Metalurgs has turned to a Liepaja court for legal protection, the company reported in a statement on Monday.15:07 27.05.2013
US lifts Belarusian arms exporter sanctionsThe US State Department has lifted sanctions against Belarusian arms exporter Beltechexport, which it imposed against the company almost two years ago.14:11 27.05.2013
Antitrust watchdog proposes legalizing parallel importsThe Federal Antimonopoly Service (FAS) has proposed legalizing parallel imports, which are non-counterfeit products imported from another country without the permission of the intellectual property owner, with the exception of companies that have localized production in Russia, said FAS head Igor Artemyev.09:54 17.05.2013
Duma mulls amnesty for financial crimesThe State Duma is working on a resolution to amnesty those who are serving sentences for financial crimes under nearly 50 Criminal Code articles, including those under which Mikhail Khodorkovsky and Platon Lebedev were convicted.12:29 16.05.2013
High taxes fuel shadow economy - Russian business ombudsmanAs many as 46% of Russian businesses operate in the shadow economy as a result of high taxes, according to business lobby group leader Boris Titov, who was appointed last summer to safeguard the rights of Russian and foreign entrepreneurs.16:08 13.05.2013
State Duma to consider public-private partnership billOn Thursday the lower house property committee recommended that the State Duma adopt a government-sponsored bill on public-private partnerships in the first reading. The bill is aimed at expanding the opportunities for cooperation between the government and businesses and at making investment in long term infrastructure projects more attractive.11:53 19.04.2013
Lawmakers uphold relaxed conditions for foreign ownership in small businessAt a meeting on Thursday, the State Duma Committee on Economic Policy endorsed a bill that lifts a number of restrictions for participation in the registered capital of small companies for foreigners and innovative development institutions.16:19 11.04.2013
French president calls for eradicating tax havens in Europe and the worldFrench President Francois Hollande announced on Wednesday a series of steps to combat tax evasion. Presenting a draft law triggered by recent tax scandals, Hollande said that French banks should declare all of their subsidiaries and added that countries that refuse to cooperate with France will be added to its list of "tax havens."16:41 10.04.2013
Russia to liberalize supervision of foreign investmentThe government has forwarded a bill to the State Duma to liberalize the supervision of foreign investment and to lift administrative barriers which hinder foreign investment.13:11 10.04.2013
Government sponsors tax breaks for Far Eastern investorsThe government has sponsored amendments to the Tax Code, thus granting tax privileges to investors involved in projects in the Russian Far East, the Trans-Baikal Territory and Buryatia.14:37 01.04.2013