Russian truckmaker KamAZ has signed a joint venture with the U.S. auto parts giant Federal-Mogul to upgrade its engines – regarded as a weak spot for Russian manufacturers. The design bureau charged with giving Kamaz an image makeover believes the truck market leader can now avoid the fate of carmaker AvtoVAZ, whose market share has halved to 25% in just five years.

A draft law was submitted to the State Duma, lower house of Russia's parliament, on Friday which will allow foreign insurance companies to open offices in Russia.

The government wants foreign investors to seek its permission for buying control of mobile and landline communications companies, a measure that could hamper growth in the booming sector, according to draft legislation made public Thursday.

Russia’s biggest household appliances chain, Eldorado, is facing a tax claim of more than $300 million. Eldorado's owner Igor Yakovlev says he may have to sell off part of the business to pay the bill.

A new port is planned near the city of Nakhodka to serve as a terminus for a new multi-billion-dollar pipeline for Russian oil transported to Asia. It's not only the money that this project brings to the region.

As president, Dmitry Medvedev will have a tough time making good on campaign pledges to tackle the country's most pressing economic worries, foreign business representatives and analysts said Monday.