The Russian e-commerce market is expected to triple in volume by 2015, according to a forecast by Morgan Stanley.

Recent Russian reforms to encourage private entrepreneurs to move from the shadow into the regular economy are bearing fruit: take the example of new regulations designed to improve the experience for visitors making use of Moscow’s taxis.

Between 2011 and 2012, the number of Moscow taxis operating legally jumped from 9,000 to 30,000 thanks to a reform in the taxi regulatory system. But this still only represents around 50% of the taxis working in Moscow. The aim is to have all taxis registered and working legally by mid 2014 – around 55,000 taxis in all.

With more Russians turning to online media as their main news source, Internet advertising is growing rapidly – and nearly overtaking traditional television ads.

Yandex, Russia’s main search engine, brought in almost as much 2012 advertising revenue as the country’s leading TV channel, state-owned Channel One: 28.1 billion rubles and 28.2 billion rubles, respectively. What’s more, Yandex’s revenue – comprised mostly of advertising income – grew by 44 percent in 2012, compared with a 0.7 percent growth at Channel One.

Russian pharmaceutical industry shines at the BIO International Convention 2013

The Russian pharmaceutical industry made its mark at this year’s BIO International Convention in Chicago. Sergey Tsyb, Director of the Department of Chemical Industries and Bioengineering Technologies at the Russian Ministry of Industry and Trade, highlighted the government’s strategy for Russian pharmaceutical development at the “Spotlight on the BRICS: Russia” session on Monday.

Aeroflot celebrates 90 years of Russian aviation

This spring, iconic Russian airline Aeroflot is celebrating 90 years of bringing visitors to Moscow and St. Petersburg, and connecting cities all across Russia.  The company, which began its first commercial operations in 1923–just twenty years after the Wright brothers made history at Kitty Hawk– has since grown to become the carrier of choice for more than half of all visitors coming to Russia from overseas.