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Russia is slowly but steadily moving towards its goal of improving its business climate. Its edged up 3 notches higher in the latest Doing Business report issued by the World Bank and the International Finance Corporation.

Georgian designer Aka Nanitashvili is the new-comer at Mercedes-Benz Fashion Week Russia. She showed a solid collection in which designer focused on multi-layer garments and Renaissance themes expressed not only in massive bright accessories and flakes of glittering fibre in fabric but also in the prints of pictures that adorned the tops.

Russian designer will launch its brand to the world with Italian partners.

An extensive business program of the 31st MBFW Russia season includes lectures, workshops, press conferences and table-talks, which will take place daily on the main venue of the Fashion Week in the Central Exhibition Hall Manege.

Deputy Minister of Industry and Trade, Viktor Evtukhov, will present the joint project with the international trade platform, AliExpress, - Fashion. Made in Russia.

The German concern BASF plans to invest about two billion euros in joint projects with Gazprom in the next five years.

The Head of Rosneft Igor Sechin believes that the increase in the tax burden in the fuel and energy sector will lead to a decrease in oil production.

The French carmaker Renault can start the production of cars under the Moskvich trademark.

The Economic Development Minister Aleksei Ulyukayev estimated the losses of the Russian economy from the moratorium on the formation of pension savings by working Russians at 4 trillion roubles.

S7 (Siberia) Airlines Company applied to the inter-ministerial commission under the Ministry of Transportation with an application for obtaining 24 international destinations where the designated carrier currently is Transaero.

Turkey may reconsider the issue of purchases of Russian gas because of the deterioration of relations with Moscow after the air incident last week.

The Deputy Chairman of the Management Board of Gazprom Aleksandr Medvedev allowed the postponement of the implementation terms of the Turkish Stream project to the end of 2017.

Gazprom has decided to half the capacity of the Turkish Stream pipeline down to 32 billion cubic meters of gas per year.

The ranking of the 200 largest private companies in the country is headed by the Lukoil oil company which revenue under US GAAP amounted to 4.75 trillion roubles in 2014.

The Ministry of Transport of Russia supports the indexation of the freight rates of Russian Railways by 10 percent in 2016 with subsidies in the amount of 35-40 billion roubles.

30 largest banks in Russia have incurred losses in the amount of 10.8 billion roubles from January to July. During the same period of last year the credit institutions showed a profit of 422.6 billion roubles.

The settlements in the national currency may appear as Gazprom sells gas on short-term contracts.

The Russian economy has decreased by 3.6 percent from January to July, as compared to the same period of last year. At the same time, in July GDP fell by 4.6 percent (compared to July 2014).

KamAZ (a part of the Rostech state corporation) and the Chinese Hawtai Motor Group Co., Beijing, have signed a framework agreement on the establishment of a joint venture (JV) for the production and sales of KamAZ trucks in China and Hawtai motor cars in Russia.

The Ministry of Finance forecasts the growth of the Russian economy in the fourth quarter of 2015 or in 2016.

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