12:29 GM and Volkswagen to build in Russia
General Motors is to build a new factory in Russia, according to an announcement by the Russian economics ministry. Though no location has yet been confirmed, reports suggest that it will be just outside St Petersburg.

12:19 St Pete legislators OK ban on nighttime sales of hard liquor
Russia's St. Petersburg legislative assembly has approved a bill that seeks to ban the retail sale of alcoholic beverages with an alcohol content above 15% from 11.00 p.m. till 7.00 a.m., the press service of the legislative assembly said Wednesday.

12:15 Minister to focus on innovation economy at Petersburg forum
Russia's education minister will chair a session on the innovation economy at a high-powered economic forum in the country's second city next month.