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Present-day Russia is almost the only major Christian country in the world where New Year festivities are more prominent than those of Christmas. While Westerners are unpacking gifts on December 24th, Russians are still immersed in an atmosphere of their upcoming holiday, which, when it comes around, is filled with age-old traditions and lasts almost…

The activity of small- and medium-sized businesses in Russia hit a record high in July, with the RSBI (Russian Small Business Index) reaching 57.1 points, according to the latest study by Promsvyazbank (PSB). The figure is well above the 50-point threshold which indicates that business activity is growing.