The government continues to trudge along the path of manual selection, regulation and support of national champions, once again discrediting the concept of import substitution When economists talk about import substitution, the first association is always the economic policy that was implemented in the mid-20th century by developing countries. The objectives of such policies were to protect (with quotas and tariffs) domestic producers from competition from imports.

Executive Director of the Association of Tour Operators of Russia (ATOR) Maya Lomidze said that Greece, Tunisia, Vietnam, Bulgaria and the UAE became the most popular foreign tourist destinations among Russians in May, TASS reports. “The ranking of the most popular countries looks like this: Greece, Tunisia, Vietnam, Bulgaria, United Arab Emirates. These countries became the most popular for the May holidays,” she said.

The work of all branches of Promregionbank has been suspended for an indefinite period, reports Interfax with reference to the Tomsk branch of the bank. “We are currently experiencing technical problems and the work of the branches has been suspended. Due to security issues,” said a bank employee. According to him, work with both individuals and legal entities has been suspended. Promregionbank was founded in 1992 in Tomsk, and in April 2016 it was re-registered in Moscow.

The Kremlin has not made any decisions on raising taxes in Russia since the 2018 presidential elections, assured the press secretary of the Russian president, Dmitry Peskov. "There are no decisions on this matter, there is no dominant point of view on this matter, and it is, of course, impossible to talk about it," he said, commenting on media reports.

May 16, 2016, 19:50 / Auto / Management The Russian division of Audi will be headed by Lyubomir Naiman Vedomosti Lubomir Naiman will become the head of Audi in Russia from August 1, 2016, the company announced. The new head will move to Audi from another division of the Volkswagen concern - he headed the Russian division of the Czech Skoda for five years.

Entering a recession The UK's exit from the EU (Brexit) could lead to a technical recession in the country's economy, said IMF Managing Director Christine Lagarde. The consequences of Brexit range from "bad to very, very bad," she described: a negative reaction from markets, rising prices and falling production, and a fall in the pound sterling.

May 16, 2016, 14:37 / Economy / News Head of the State Duma Committee: The Central Bank can reduce the key rate by 1 percentage point. in June undefined Vedomosti The Bank of Russia may lower the key rate by one percentage point at the upcoming meeting of the board of directors of the Central Bank in June, Anatoly Aksakov, head of the State Duma Committee on Economic Policy, told reporters.

May 16, 2016, 18:58 / Economics The acute phase of the crisis in the Russian economy is over - Capital Economics The economy may reach a growth trajectory earlier than in 2017 Ekaterina Kravchenko According to Capital Economics analysts, the acute phase of the crisis in the Russian economy has already passed / E.

Sergey Lavrov “Not everything depends on us here, but recently our Western colleagues have already understood where the dog is buried and who is responsible for the impasse that still persists.” According to the Foreign Minister, the West is beginning to realize that Russia is not to blame for the failure to implement the Minsk agreements on Ukraine. (TASS) Sergey Aksenov "I will not allow any confrontations here.

Transneft's net profit according to Russian accounting standards (RAS) in the first quarter of this year increased 1.5 times compared to the same period last year to 4.485 billion rubles. This is stated in the company's reporting. The company's revenue in the first three months of 2016 increased by 3.3% and amounted to 194.724 billion rubles. Gross profit in the reporting period increased by 6.9% to RUB 15.792 billion, profit before tax increased by 55% to RUB 5.677 billion.

"Western colleagues" have begun to understand "where the dog is buried" in the situation with Ukraine and why the Minsk agreements are not being implemented, believes Russian Foreign Minister Sergei Lavrov. As reported by TASS, he said this at a meeting with students at the Belarusian State University.

Roskomnadzor is unable to monitor operators' compliance with the obligation to store user content on Russian territory for three years, as required by amendments from the "anti-terrorist package" to the law on communications by deputies Irina Yarovaya and Viktor Ozerov, Interfax reports, citing Roskomnadzor deputy head Oleg Ivanov.

Google has made its artificial intelligence system code publicly available / Jeff Chiu / AP A blog post from Google says the tools are free to distribute and modify. “We hope people will use it instead of creating similar tools themselves,” says Dave Orr, the manager responsible for SyntaxNet’s development. This is not the only example of artificial intelligence (AI) systems created by large corporations and distributed by them as open source.

The Kremlin did not comment on the results of the Eurovision song contest, which was won by Ukraine. "This is not our question," said Russian presidential press secretary Dmitry Peskov. The final of the international song contest "Eurovision" ended in Stockholm on Sunday night. The winner was the singer Jamala from Ukraine with the song "1944".

The press secretary of the Russian president, Dmitry Peskov, stated that the statements by the acting head of Chechnya, Ramzan Kadyrov, who negatively assessed the head of the republic’s Supreme Court, Magomed Karatayev, cannot be considered pressure on the judicial system. "Of course, the acting head of the republic does not have such powers. But in this case, Kadyrov did not dismiss anyone.