In August, Russian President Vladimir Putin flew to the Black Sea resort of Sochi, where his country is spending a record $48 billion on the 2014 Winter Olympics. A regular visitor, with an official residence in town, Putin watched mixed-martial-arts contests at Oblaka nightclub with Russian Prime Minister Dmitry Medvedev and Kazakh President Nursultan Nazarbayev.
Vladimir Putin wasn’t having a great day. The Russian president had spent the August morning in a helicopter over Khabarovsk, near the Chinese border, surveying flood damage that had left tens of thousands of people homeless.
OAO Russian Railways is seeking to regain the right to manage rolling stock a decade after the government weakened its monopoly by opening the market to competitors, Chief Executive Officer Vladimir Yakunin said.
Vladimir Putin is inching closer to his goal of turning Russia into a major transit route for trade between eastern Asia and Europe by prying open North Korea, a nuclear-capable dictatorship isolated for half a century.
OAO Russian Railways will probably drop plans to sell 100 billion rubles ($3 billion) of infrastructure bonds if the government freezes prices to fight inflation, Chief Executive Officer Vladimir Yakunin said.
OAO Russian Railways is planning to spend 259 billion rubles ($8.3 billion) in the next three years on locomotives to defend a market that billionaire investors such as steel magnate Vladimir Lisin are seeking to enter.
OAO Russian Railways is proposing the government link freight rates to global commodity prices to better balance payments for customers and counter a decline in total rail volumes, a proxy for economic growth.