Russia Business News

The Russian central bank cut its main interest rate to a record low 9.0 percent on Tuesday to check a strengthening ruble that threatens to harm the major oil and gas producer's crucial exports. The decision to cut the key...

German car and truck maker Daimler AG said Tuesday it has signed two joint-venture agreements with Kamaz Inc. that will expand its presence in the Russian truck market for an investment of about euro10 million ($15 million). Daimler, based in...

The deal would create one of the world’s largest energy and chemicals groups, with about $80 billion in combined annual revenues. LyondellBasell confirmed in a statement that Reliance had made a non-binding cash offer to take a controlling interest. LyondellBasell...

Oil prices may decline from a �somewhat artificial� level as governments reduce stimulus spending, Finance Minister Alexei Kudrin said Friday. The current price is favorable for Russia and acceptable to the world, Kudrin told reporters in Yalta, Ukraine. �I think...

Gold futures touched an all-time high of $US1174 an ounce in New York, after the dollar fell as much as 0.9 per cent against the euro. Gold has posted records during nine sessions this month, and is up 32 per...

In highly orchestrated raids around the world this week, Interpol officers in Europe, drug agents in the United States and task forces from Sweden to Singapore hunted down counterfeit prescription drugs in an effort to stem a rapidly growing criminal...

Russia is considering ways to discourage speculative currency traders from driving up the ruble exchange rate, including a tax on cross-border currency transactions, a central-bank official said Thursday. Such a plan would put Russia in line with other commodity-exporting economies...