August 2010, Vol. 5, No. 7
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The new iconic brand on the Moscow hospitality market
South Korea’s Lotte Group has finally opened its eponymous hotel, the Lotte Hotel Moscow, one of the most ambitious hospitality properties to spring up in the Russian capital in recent years, and the group’s second prime asset in the city. However, unlike its peers, the new hotel aptly combines South Korea’s unique hospitality traditions and Asian approach to luxury with the best of European hospitality cultures. With such unique background of rich international experience and cultural heritage, TRCW has no doubt that the new hotel has all the chances to swiftly rise to a leading position in this dynamic industry ... |
Two strategic ‘Streams’ - Russia’s symmetric reaction to new challengesRussia's ongoing simultaneous development of several gas export routes will help stamp its hegemony on the continental and global markets for years to come... |
Tatneft’s glorious history from oil springs to high technologiesThis year, Tatneft, one of Russia’s largest oil companies, celebrates its 60th anniversary, an important landmark in the company and industry's histories... |
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Kremlin’s regime change policy ends Russia’s regional autocraciesBy removing long serving regional leaders, the Kremlin has sent a clear message of where it stands on clannishness, regional autocracy, quasi-democracy, etc... |
Historic hotels go on sale in Russian capitals as authorities privatize state assetsMoscow and St. Petersburg city governments have announced plans to sell historic hotels and other assets under their jurisdictions... |
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EBRD and IFC to invest millions into small hotels developments in Russian regionsAccording to EBRD, the investment plans envisage building five medium-sized hotels with a total stock of 750 rooms in next two years... |
Golden Ring Hotel completes reconstruction of its largest conference hallDuring the renovation, a major emphasis was placed on the technical re-equipment of the hall, which now boasts the best equipment from the leading international audio- and video brands... |
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Elena Baturina’s Inteko opens an upscale hotel-and-residential complex in PeterhofThe hotel branded, ‘The New Peterhof,’ comprises six, three-floor corpuses with an aggregated stock of 150 rooms with all the modern conveniences... |
The consequences of the Canadian double summits for the global economyWorld leaders at the G8 and G20 Summits in Canada continued their collective search for quicker solutions to the crisis-borne problems facing national and global economies... |
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Russia and Yemen agree to use their economies as basis for mutual cooperation in other spheresThe Russian prime minister and Yemeni president called for making interactions in their economies the new basis for the development of mutual beneficial relations in all other aspects of their countries' bilateral cooperation... |
Medvedev and Merkel seek new ways for deepening ongoing cooperation at consultationsThe leaders discussed bilateral trade and economic cooperation as well as plans to form strategic business alliances between Russian and German companies... |
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Russia and Vietnam again reaffirm adopted course on strategic bilateral partnershipBoth leaders exchanged opinions on ways to further deepening the existing strategic partnership between Russia and Vietnam at the regional and international levels... |
Kremlin contemplating idea of transferring officials’ assets into trust managementPresident Medvedev has expressed readiness to look into the possibility of transferring state officials’ business assets, which they owned prior to joining civil service... |
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Moscow close to concluding agreement on hosting F1 Race Championship by 2012Moscow authorities hope to hold the Russian stage of the Formula-One Championship in the city in 2012... |
Voloshin appointed head of a Working Group to create a financial center in RussiaThe group, whose activities will also be coordinated by First Deputy Premier Igor Shuvalov, is under the Presidential Council overseeing the development of financial markets in Russia... |
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Shoigu voted the most popular and effective minister among Cabinet membersInterestingly, Shoigu has also ‘positively distinguished’ himself on another ministerial rating as the minister with the least income (2.7mln rubles) in 2009... |
Prime Minister Putin calls for a stringent budgetary discipline in the countryPutin says preservation of macroeconomic stability, formation of a prudent budget and full observance of strict budgetary discipline continue to remain the state's key priorities... |
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The highly ambitious Russia’s Nord Stream gas pipeline reaches the German soilThe Nord Stream pipeline in July reached the European continent, having surfaced in the German town of Lubmin, a 'symbolic milestone' for the project's principal investors... |
Yevtushenkov offers innovative solution for fixing high accident rates on Russian roadsTo successfully execute this project, Yevtushenkov calls on lawmakers to legislatively oblige all cars in Russia to be equipped with navigators... |
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Vneshekonombank denies intention to sell or transfer its EADS stake to third partiesThe current crisis and EADS’ other internal problems have pulled down the stake’s market value, a development that led to the speculation on the VEB’s readiness to offload the stake to avoid its further devaluation... |
IFC partners with EOS Group in tackling nonperforming bank loans in Central and Eastern EuropeCommenting on the initiative, Justus Hecking-Veltman, the EOS Group CFO, noted that the co-investment will allow the group to grow its business on markets, which have been hardest hit by the financial crisis... |
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Lotte Group opens second property in Moscow, announces more ambitious plans for RussiaWith the overall investment totaling over $350mln, Lotte Hotel Moscow has become the most ambitious hospitality property among Moscow hotels... |
The legal and psychological drama of the ex-Yukos owners’ dilemmaNow, the onus is again on the court to use the new charges against the duo as a unique opportunity to prove that justice is ‘really absolutely blind’ in Russia... |
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Authorities set ‘more humane legal rules’ for private businesses in RussiaSuch official efforts have led to the adoption of several more business friendly laws designed to make life much easier for companies and their owners... |
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