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Rostec may cede control of iconic Kalashnikov arms manufacturer

Kalashnikov AK 47Rostec, Russia’s state-run industrial holding company, is considering lowering its stakeholding in the iconic Kalashnikov small arms manufacturer from 51% to 25% line plus one blocking vote, its CEO Sergey Chemezov said yesterday. 
One of the country’s best-known brands (more…)

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Thousands apply for Iranian credit cards as consumer boom heats up

Valiollah Seif Governor Central Bank of IranIranian credit cards: More than 12.000 Iranians rushed to apply for credit cards yesterday as its Central Bank authorised their issue for the first time in the country’s history. But (more…)

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Taobao named China’s most valuable brand as tech sector bucks economy

TaobaoTaobao, the online shopping platform owned by Alibaba Group, has been named China’s most valuable brand for the first time in the latest annual rankings from the Shanghai-based Hurun Research Institute. With a valuation of $34.4bn (more…)

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Moscow looking to sell off Aeroflot’s Rossiya Airline subsidiary

Rossiya AirlinesJust days after shelving plans to privatise Aeroflot, Moscow is considering selling off the national carrier’s loss-making subsidiary, St Petersburg’s Rossiya Airlines. (more…)

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US treasury accused of ‘terrorism’ as Russia looks to win race to secure foothold in Iranian banking sector

Iranian women in banksIranian banking sector: Russian banks are ready to steal a march on their Western counterparts by establishing a foothold in Iran, according to a senior figure in the Russian banking sector, just weeks after (more…)

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Swiss win Aprin dry port contract as Iran’s non-oil exports boom

North_South_Transport_Corridor_(NSTC) (1)Aprin dry port: The Swiss-based transport and logistics multinational Transinvest Holdings has signed a 25-year contract with Iran’s Perse Transport Bar for the development of a 700-ha dry port some 20 km south of Tehran. On completion, (more…)

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Putin wins Russian parliamentary elections but turnout down

Russian Parliamentary elections 2016Russian parliamentary elections: Russia’s ruling political party has comfortably won this weekend’s parliamentary elections, early results suggest, but a drop in turnout from 60% five years’ ago (more…)

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Nazarbayeva moves up succession line as Dad moves to quell rural unrest

Dariga NazarbayevaFollowing last week’s removal of Prime Minister Karim Massimov, Kazakhstan’s President Nursultan Nazarbayev yesterday announced that his daughter Dariga Nazarbayeva had moved from the post of Deputy Prime Minister to take up a role as deputy in the Senate. Although (more…)

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Aeroflot privatisation put off until 2020 – but Bashneft sale still on the cards

Aeroflot adAeroflot privatization: Russia’s flagship national airline will not be privatized before 2020 at the earliest, the Economic Development Ministry’s director of Corporate Governance Oksana Tarasenko said yesterday, but (more…)

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Vodafone ready to pump $3bn into India before spectrum auction

Vodafone IndiaVodafone: Faced with increasing competition from Mumbai’s Reliance Jio Infocomm and with a national spectrum auction due to take place at the beginning of October, Europe’s largest mobile phone operator is said to be planning to invest $3bn in its Indian operation in (more…)

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