16:28 Gulf of Finland feels impact of change in Russia
The clock strikes five and the workers start to flow out of the Admiralty shipyard in St. Petersburg. The silhouettes of the cranes stand out against the horizon on this cold winter day.

16:14 W Hotels to open new hotel in St. Petersburg
Starwood Hotels & Resorts Worldwide revealed plans for a new W hotel in St. Petersburg, Russia. Scheduled to open in mid 2008, W St. Petersburg represents a rare development in the main historic area of this vibrant city.

16:01 Retail Market Developing at Fast Pace
Growing personal incomes coupled with a lack of quality shopping space in the city mean that developers and retail chain operators are actively trying to establish their presence on the country’s second biggest market.