12:28 Construction Begins on St. Pete's IT Park
The construction of Russia's first information technology park, part of a government program to develop the nation's high-tech industry, officially began last week in St. Petersburg.

11:33 Ford Looks to Expand Production at Russian Auto Plant
Ford Motor Co. (NYSE: F) is looking at ways to boost production at its plant near St. Petersburg to 72,000 cars in 2007, the carmaker's president said Wednesday.

11:27 Indonesia to supply 50,000 tonnes of palm oil to Russia
Indonesia is ready to supply 50,000 tonnes of crude palm oil to a refining company to be set up in St Petersburg, Russia, Indonesian Ambassador to Russia Susanto Pudjomartono has said.