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  • In this Thursday, Oct. 14, 2010 file photo, then, Russian Prime Minister Vladimir Putin, second right, Formula One chief Bernie Ecclestone, second left, and Oleg Deripaska, toast after a signing ceremony in the Black Sea resort of Sochi, southern Russia. Oleg Deripaska's Basic Element, insists its projects were all designed to be profitable. The company is building an Olympic village and a seaport and has just finished revamping the Sochi airport, for a combined cost of $1.4 billion.

    Most of the projects the tycoons are involved in are not profitable — and many businessmen are making no secret of the losses they are incurring.

    LAST UPDATE : May 20, 2013, 10:33 AM EDT
    Story
  • German chancellor Angela Merkel, right, and Russian Presideent Vladimir Putin shake hands after a press conference at the Hannover Fair, in Hannover, northern Germany, Monday April 8, 2013. (AP Photo/dpa, Marcus Brandt)

    Rainbow flags were flying at half-staff around the Dutch city and rights groups planned a major protest against Russian gay rights policies.

    LAST UPDATE : Apr 08, 2013, 11:21 AM EDT
    Story
  •  Russian President Vladimir Putin, left, speaks at the South Stream welding ceremony in Anapa, Russia.

    The Russian energy giant is spending billions to expand, but it will have to tread carefully at a time when global natural gas supplies are surging and prices are falling.

    LAST UPDATE : Jan 14, 2013, 5:46 AM EST
    Story

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