13:38 2008 City Budget Comes Under Fire From Deputy
A long-standing State Duma deputy and member of its Budget and Taxes Committee has hit out at St. Petersburg’s 2008 city budget.

13:34 Sokotel Plans 5 New Hotels in City Center
The Finnish hotel operator Sokotel plans to construct five new hotels in the center of St. Petersburg over the next six years, adding about 1,000 new rooms to Sokotel hotels’ capacity, the company announced last week in a statement.

13:19 Timber Firm Thrives Despite Poor Market
The Northwest Timber Company has invested $150 million into the modernization of its production facilities, and another $300 million is to be invested in the near future.