News, Culture & Society

PRESS DIGEST – RUSSIA – Sept 29

The following are some stories in Russia’s newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

VEDOMOSTI

www.vedomosti.ru

– Foreign citizens who invested $10 million or more in the development of Russia’s Far East will be able to obtain Russian citizenship under a simplified procedure, the newspaper reports. However, after obtaining the citizenship its holder must remain the owner of these Russian assets for at least three years.

KOMMERSANT

www.kommersant.ru

– An attempt to create an energy market in Russia can fail, the daily reports. New non-market tools like bonuses and compensations will comprise up to 70 percent of the cost of electricity for consumers by 2023.

– The new strategy of Citibank, a subsidiary of the U.S.-based Citigroup, has led to a 40 percent reduction in the number of retail customers. Experts believe that Citibank’s shrinking business in Russia may lead to its eventual exodus from the counrty.

IZVESTIA

www.izvestia.ru

– The newspaper writes that 28 percent of organizations in Russia plan to increase the number of employees by an average of 14 percent this year.

(Reporting by Margarita Popova; Editing by Dmitry Solovyov)

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