21:30
STREAMLINE PRODUCTION-SHARING LAW, U.S. PETROLEUM BOSS CALLS RUSSIA
A streamlined production-sharing law will skyrocket overseas investment in Russian fuel deposit development, said Glen Waller, external relations manager of the Russian Exxo Mobil office, as he was addressing a roundtable of the world Davos economic forum, which is holding session in Moscow More details...

20:06
IN 2002, TAX BURDEN IN RUSSIA WILL BE SLASHED BY 1.5-2 PERCENT OF GDP
Alexei Kudrin, Russia's vice-premier finance minister, predicts a reduction in the tax burden in Russia by about 1.5-2 percent of GDP next year, and by up to 2 percent of GDP this year More details...

19:31
RUSSIA'S PERFORMANCE OVER PAST TWO YEARS HAS PUT IT AMONG 20 LEADING COUNTRIES
Russia, according to 2000 and 2001 results, ranks among twenty countries with best economic performance, said presidential economic adviser Andrei Illarionov on Monday, at the opening in Moscow of a visiting session of the Davos Economic Forum More details...

19:24
PROJECT SAKHALIN 1 CALLS GLOBAL INVESTMENT: KASYANOV
Mikhail Kasyanov, Russia's Prime Minister, reports his enthusiasm as implementation is starting of project Sakhalin 1, he said to a Moscow news conference which followed a 15th session of the consultative council for overseas investment More details...

19:18
RUSSIA AUDIT CHAMBER CHIEF URGES COLLECTIVE CLAMPDOWN ON TERROR CASH
Chairman of the Russian Audit Chamber, Sergei Stepashin, has argued for Russia and the West to negotiate collective measures to control international cash flows, which "the terrorist internationalism" has hijacked to sustain its criminal operations More details...

19:08
RUSSIAN PARLIAMENTARIANS WELCOME DAVOS ECONOMIC FORUM'S VISITING SESSION IN MOSCOW
Russian parliamentarians welcome the fact that the Davos World Economic Forum is holding its session in Moscow More details...

18:18
RBC-COMPOSITE INDEX (6:00 P.M., CLOSE)
The RBC-Composite stock index was at 26.4464 points as of 6:00 p.m., which is 0.15% higher than the opening level of October 29, 2001. More details...

18:09
WORLD ECONOMIC FORUM PRESIDENT KLAUS SCHWAB CALLS RUSSIA REAL PARTNER IN MODERN WORLD
Thanks to President Putin's efforts, Russia has become part of the international community not only in the fight against terror but it has evolved into a real partner of the modern world. President and founder of the Davos economic forum said as much Monday at the forum's 15th visiting session More details...

18:09
FINANCE MINISTRY SUBMITS AMENDMENTS TO CHANGE REGULATIONS ON SOCIAL TAX
The Finance Ministry has prepared a Bill on Amendments the Tax Code Related to the Single Social Tax, Deputy Prime Minister, Finance Minister Alexei Kudrin said at a meeting of the Advisory Council for Foreign Investments today. More details...

17:14
EXXON NEFTEGAS READY TO START OIL EXTRACTION IN RUSSIAN FAR EAST
During a session of a consultative council for foreign investments in Russia on Monday, President of Exxon Neftegas Neil Duffin announced that the company was ready to start extracting oil as part of the Sakhalin-1 project More details...

17:08
FIRST STAGE OF PILOT PROJECT DELPHI COMPLETE
The first stage of the Delphi project being fulfilled by the EU within the TACIS framework in Russia is over. The project's aim is to render assistance to Russian education establishments in development of educational programmes to train experts in the field of market economy More details...

17:03
RUSSIA'S GDP TO GROW BY OVER 5.5% IN 2001
The rate of GDP growth will exceed 5.5% in Russia in 2001, Russian Prime Minister Mikhail Kasyanov said at today's meeting of the Advisory Council for Foreign Investments. More details...

17:03
AVTOVAZ HEAD SAYS CAR GIANT UNABLE TO DEVELOP NEW PROJECTS DUE TO STATE SHARES KEPT AS PLEDGE
AvtoVAZ, the Russian car producing giant, will be unable to develop new projects until it recovers a block of shares kept by the state as pledge, chairman of the AvtoVAZ board Vladimir Kadannikov announced in Moscow today. More details...

16:54
SELT (TOMORROW, 4:45 P.M.) AVERAGE-WEIGHTED EXCHANGE RATE - 29.7027 RUR/USD
The high on tomorrow deals amounted to 29.71 RUR/USD, the low was 29.7 RUR/USD on the Electronic Trading System (SELT). More details...

16:33
PUBLIC COUNCIL TO BE ESTABLISHED ON RUSSIA JOINING THE WTO
Participants of an All-Russian conference "Economy of Russia and World Competitive Sphere (Russian Business and WTO)" made the decision to establish a public council under President of the Russian Federation Vladimir Putin. More details...

16:25
KASYANOV SAYS RUSSIA IS COMPLETING NEGOTIATIONS ON ENTERING WTO
The course of negotiations on Russia's entering the WTO has been improved in the past months, Russian Prime Minister Mikhail Kasyanov announced at a meeting of the Consulting Council for Foreign Investments in Russia today. More details...

16:14
PM MIKHAIL KASYANOV POINTS TO RUSSIA GAINING ADVANTAGE IN RUSSIA-WTO NEGOTIATIONS
Over the past months, Moscow has gained advantage in its negotiations with the WTO /World Trade Organisation/ on Russia's membership in this organisation. Russian prime minister Mikhail Kasyanov said as much at the 15th session of the consultative council on foreign investment in Russia More details...

15:58
RUSSIA'S ECONOMY: NEW ECONOMIC GROWTH SOURCES
Russian prime minister Mikhail Kasyanov pointed out Monday to the increasing role of new and more stable sources of growth in Russia's economy. Speaking at the 15th session of the consultative council on foreign investment in Russia, Mikhail Kasyanov named the growing domestic demand and intensified investment process among the sources. More details...

15:51
SLAVNEFT AND IRAQI OIL MINISTRY SIGN OIL CONTRACT
The Russian-Belarus oil company Slavneft and the Iraqi Oil Ministry have signed a contract for the development of the Lukheis oil field in the south of Iraq, the press service of the oil company reported. More details...

15:28
GOLD BID/ASK, RUSSIAN CENTRAL BANK
On October 29, the Russian Central Bank's bid for gold was fixed at 250.42 RUR/g, and the asking price at 266.32 RUR/g with a change of +0.4% as compared to the previous day. More details...

15:07
AVTOVAZ TO PRODUCE NEW CARS MODELS
The Russian government will soon issue an order to end the controlling interest of the AVTOVAZ company, according to Deputy Prime Minister Ilya Klebanov, minister of science, industry, and technology. The AVTOVAZ is a car factory in Togliatti (the Volga area). More details...

14:57
EXPERTS REMARK ON FAST RISE IN DOLLAR RATE
Over the past four business days, October 24, 25, 26, and 29, the dollar exchange rate rose by 14 kopecks, from 29.54 to 29.68 rubles per dollar. Such sharp increases in the dollar rate had not been observed since the middle of February 2001, i.e., for over 8 months. More details...

14:25
FOREIGN INVESTORS ALLOCATE $20M TO RUSSIAN REGIONS TO IMPLEMENT 'FOREST' PROJECT
The implementation of the 'Forest' project, worked out by the International Institute for Agricultural Development Winrok International, has commenced in Krasnoyarsk Region. More details...

14:08
REGIONAL EXPANSION OF VIMPELCOM ESTIMATED TO COST $337 MILLION
Nikolai Pryanishnikov, the first vice-president of VimpelCom, which operates mobile-telephone services under its BeeLine brand name, commented on the company's expansion plans in an interview. More details...

12:38
PM COMMISSIONS GOV'T TO SUBMIT AMENDMENTS TO 2002 BUDGET DRAFT TO STATE DUMA TODAY
Premier of the Russian Federation Mikhail Kasyanov commissioned the government to submit all documents and amendments to the 2002 federal budget draft to the State Duma, which will consider them on the third reading, by the end of this day. More details...

12:23
CENTRAL BANK OF RUSSIA SETS DOLLAR EXCHANGE RATE FOR OCTOBER 30
The Central Bank of Russia set the dollar exchange rate for October 30 at 29.68 rubles per dollar. More details...

12:14
DOLLAR RATE CONTINUES RISING TODAY
The dollar exchange rate continues surging on Monday, October 29. The low was 29.67 rubles, which is 0.04 rubles higher than the official dollar exchange rate for today. More details...

11:53
PM MIKHAIL KASYANOV TO ATTEND SESSION OF FOREIGN INVESTMENT CONSULTATIVE COUNCIL
Russian prime minister Mikhail Kasyanov will attend the 15th session of Russia's consultative council on foreign investment. More details...

11:36
SELT (UNIFIED TRADING SESSION, CLOSING) AVERAGE-WEIGHTED EXCHANGE RATE - 29.6802 RUR/USD
The high on today's deals amounted to 29.7199 RUR/USD, the low was 29.6651 RUR/USD on the Electronic Trading System (SELT). More details...

11:31
BALANCE AT CORRESPONDENT ACCOUNTS, OCTOBER 29
The balance of correspondent accounts at Russian commercial banks amounted to 82.215 billion rubles (about $2.77bn) as of the beginning of business on October 29. More details...