Russian billionaire Alexander Lebedev has sold the remaining stake in Aeroflot, Russia’s leading airline, says Vedomosti daily.

Magnit, Russia’s biggest retailer, reported an impressive 42 percent growth in net profit in 3Q 2013, says an official press release quoted by Vedomosti.

VKontakte, Russia’s biggest social network, is in talks with online video services to swap its users’ illegal content for licensed video, says the Itar-Tass news agency.

Russia’s bid to lure foreign investors and set up a financial centre in Moscow may be under a threat if the national parliament passes a new bill on real estate purchase limits.

The International Rating Agency Standard & Poor’s has affirmed the long-term credit rating of Moscow at BBB level, and the rating on the national scale ‘ruAAA’ has been also affirmed with the stable outlook.

The monthly Internet audience in Russia has amounted to 66.1 million people this autumn, has claimed the Public Opinion Fund at the conference RIW 2013 in Moscow.

Moody's has downgraded Russian Standard Bank ratings over ‘weakened capitalisation’ and ‘a pressure on asset quality and profitability.’

AvtoVAZ shares edged down on Moscow Stock Exchange on the news that its head was being appointed to lead the new Missile and Space Corporation set up by the Russian government in a bid to revamp the ailing space industry.

VTB is selling its stake in Société Générale’s Rosbank, says an official statement by the state-run bank.

2013 has seen the worst economic growth since the collapse of the USSR, said Russia's Economic Development Minister.