You searched for "BUSINESS" (7 results found)

Some 20% of Russian Restaurants Closed Business amid Pandemic

  • 10 Aug 12:00

Some 20% of Russian Restaurants Closed Business amid Pandemic About 20% of Russian catering establishments were forced to close by the beginning of the third stage of lifting all restrictions related to the pandemic, Sergey Mironov, Vice-President of theFederation of Restaurateurs and Hoteliers of Russia(FRHR), public ombudsman in the restaurant business at the office of the Ombudsman for the Protection of the Rights of Entrepreneurs in Moscow, toldTASS. “Unfortunately, restaurants continue to close. About 20% are now closing. Either they have already closed, or they are trying to close, or the legal entity still exists, but the restaurant itself is not open,” he said, answering the question of how many restaurants have. Read more...

The availability of pork is almost 100%, the poultry is expected to roll back

  • 10 Dec 11:16

The availability of pork is almost 100%, the poultry is expected to roll back In 2018, Russian meat production continued to increase. By the end of 2018 the increase may be 3-3.5%, or up to 350 thousand tons in slaughter weight. In the first nine months of 2018, the total meat production increased by 4.6% compared to the same period last year. Growth was also observed in poultry (+ 1.4%), in pork (+ 9.9%), and in beef (+ 6.9%), said Anna Kudryakova, leading expert of the Institute for Agricultural Market Studies (ICAR). According to the Director General of the National Union of Pig Producers (NSS) Yuri Kovalev, in the outgoing year the output of all types of meat will add 3-3.5%, or 350 thousand tons in slaughter weight. About 10.6 million tons. Read more...

Cherkizovo Group Announces Financial Results for the third quarter and 9 months of 2018

  • 16 Nov 08:42

Cherkizovo Group Announces Financial Results for the third quarter and 9 months of 2018 PJSC Cherkizovo Group (MOEX: GCHE), the largest vertically integrated meat producer in Russia, today announces its unaudited consolidated IFRS results for the period ending September 30, 2018. Third quarter financial highlights Revenue increased by 10.7% year-on-year (y-o-y) to RUB 25.2 billion. Net change in fair value of biological assets amounted to negative RUB 1.4 billion in 3Q18, compared to negative RUB 1.0 billion in 3Q17. Revaluation of harvested crops in stock totalled RUB 0.8 billion from RUB 0.1 billion in 3Q17. Gross profit improved by 29.9% y-o-y to RUB 6.4 billion. Adjusted EBITDA* up by 65.4% y-o-y to RUB 6.0 billion. Adjusted EBITDA. Read more...

Why do foreign companies still invest in Russia?

  • 22 Aug 09:15

Why do foreign companies still invest in Russia? The economic crisis and sanctions have not made life easier for international corporations working in Russia. But there’s still a way to reap the rewards of changing economic conditions. One potential strategy is to localize. Last week German sportswear company Adidasrevealedplans to close 160 stores across Russia by the end of 2017. The multinational corporation has been scaling back business in the country for the last three years - with many shops already shut down - as consumer demand continues to tail off amid the economic crisis. According to sources close to the company, Adidas has been rethinking its business strategy since 2014 and the closures represent. Read more...

How to open a farm in Russia if you're a foreigner

  • 6 Jul 09:35

How to open a farm in Russia if you're a foreigner RBTH lists the pros and cons for foreign farmers in Russia, as well as the state benefits that one can expect to receive. What are the main advantages for farmers in Russia? Source: Vitaliy Timkiv/TASS Since the Russian embargo on European food was enacted in 2014, Russia has been witnessing a surge of growth as new farms work to produce healthy food to meet the demands of cities with over a million residents. This growth is enhanced, not only by the lack of competition from European producers, but also by legislation that creates incentives for farmers, even those who are foreign citizens. What are the main advantages for farmers in. Read more...

How to make a fortune from banned food products

  • 9 Feb 09:30

How to make a fortune from banned food products Despite sanctions Russia has plenty of Italian Parmesan cheese, French brie, Spanish jamon and Dutch blue cheese. RBTH investigated to find out who sells these items on the Russian market, and how. A worker arranges a display of cheeses, including imported products, at the delicatessen counter of an Azbuka Vkusa OOO, which translates as 'Elements of Taste,' supermarket at the Neglinnaya Plaza shopping center in Moscow, Russia. Source: Getty Images In an effort to endillegal imports of food products banned under sanctions, Russia will impose fines onanyone transporting, storing or distributing food products that comeunder the. Read more...

Sino-Russian trade decreases by 29 percent in 2015

  • 11 Nov 09:52

Sino-Russian trade decreases by 29 percent in 2015 Bilateral trade touched $55.9 billion in first ten months of 2015 Bilateral trade touched $55.9 billion in first ten months of 2015. Source: Reuters Sino-Russian bilateral trade in the first ten months of 2015 touched $55.9 billion, a fall of 29 percent from the same period a year ago. From January to October 2015, China’s exports to Russia stood at $28.46 billion, a fall of 35.7 percent from a year ago, while Imports from Russia fell by 20.7 percent and stood at $27.45 billion. The figures were released by China's Customs authorities on November 9. Analysts attribute the fall to. Read more...