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Swedish furniture retailer IKEA will scale down its business operations in Russia and sell all four country-based factories, the RBC business daily reported Wednesday, citing the company’s press service.
IKEA, which employed some 15,000 people in Russia, temporarily closed its stores and suspended operations of its factories there in March amid
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Read more: IKEA to Scale Down Operations in Russia, Sell Factories – RBC
Write comment (95 Comments)The St. Petersburg International Economic Forum (SPIEF), Russia’s annual showcase event for foreign investors, opened Wednesday amid a reduced participant list, increased secrecy and boycotts by some Western governments.
As the war in Ukraine has sent the Russian economy spinning toward recession and deepened Moscow’s international isolation, S
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Read more: Taliban, Separatists and Lukashenko: Russia Kicks Off Diminished St. Petersburg Forum
Write comment (93 Comments)Chinese President Xi Jinping told his Russian counterpart Vladimir Putin in a call Wednesday that Beijing would keep backing Moscow on "sovereignty and security," according to state media.
China is "willing to continue to offer mutual support (to Russia) on issues concerning core interests and major concerns such as sovereignty and security,"
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Read more: Xi Tells Putin China Will Keep Backing Russia on ‘Sovereignty, Security'
Write comment (93 Comments)A senior executive in charge of aircraft purchases for Russia’s flagship airline Aeroflot has been arrested on suspicion of fraud, Russia’s state-run Interfax news agencyreported Wednesday.
Mikhail Minayev, director of Aeroflot’s fleet planning and aircraft procurement, was placed in pre-trial detention by Moscow’s Khoroshevsky court until Aug. 8.
If
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Read more: Aeroflot Executive Detained on Suspicion of Fraud
Write comment (98 Comments)A Russian man went on trial in Munich on Wednesday, charged with plotting to kill a Chechen dissident living in Germany on the orders of Chechen leader Ramzan Kadyrov.
The suspect, named as Valid D., is accused of planning the murder commissioned by the state, carrying out shooting exercises with the intended hitman and spying on the target.
"A
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Read more: Russian Man on Trial in Germany Over Chechen Hitjob Plot
Write comment (97 Comments)Ukraine pleaded with Western governments Wednesday to decide quickly on sending heavy weapons to shore up its faltering defenses, as Russia said it would evacuate civilians from a frontline chemical plant.
The industrial city of Severodonetsk is under intense bombardment as Russia focuses its offensive on the Donbas region in an effort to secure a
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Read more: Ukraine Pleads for Western Arms as Russia Chokes Frontline City
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