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Moscow Russia

Moscow (English pronunciation: /ˈmɒskaʊ/ or /ˈmɒskoʊ/; Russian: About this sound Москва́ (help·info), tr. Moskva, IPA: [mɐˈskva]; see also other names) is the capital, the most populous city, and the most populous federal subject of Russia. The city is a major political, economic, cultural, religious, financial, educational, and transportation centre of Russia and the world, a global city. Moscow is the most populous city on the continent of Europe and the seventh largest city proper in the world, a megacity. The population of Moscow (as of 1 January 2010) is 10,563,038[7].

It is located by the Moskva River in the Central Federal District, in the European part of Russia. Moscow sits on the junction of three big geological platforms. Historically, it was the capital of the former Soviet Union, Russian Empire (for three years in 1728–30), the Tsardom of Russia, and the Grand Duchy of Moscow. It is the site of the Moscow Kremlin, one of the World Heritage Sites in the city, which serves as the residence of the President of Russia. The Russian parliament (the State Duma and the Federation Council) and the Government of Russia also sit in Moscow.

Moscow is a major economic centre. It is home to many scientific and educational institutions, as well as numerous sport facilities. It possesses a complex transport system that includes four international airports, nine railroad terminals, and the world's second busiest (after Tokyo) metro system which is famous for its architecture and artwork. Its metro is the busiest single-operator subway in the world.

Over time, the city has earned a variety of nicknames, most referring to its preeminent status in the nation: The Third Rome (Третий Рим), Whitestone (Белокаменная), The First Throne (Первопрестольная), The Forty Forties (Сорок Сороков).

Economy of Russia

Moscow is one of largest city economies in Europe and it comprises approximately 24% of Russian GDP. As of 2008 Moscow economy reached 8.44 trl roubles ($340 bln or $459 bln PPP adjusted).

In 2006, Mercer Human Resources Consulting named Moscow the world's most expensive city for expatriate employees, ahead of perennial winner Tokyo, due to the stable Russian ruble as well as increasing housing prices within the city. Moscow also ranked first in the 2007 edition and 2008 edition of the survey. However, Tokyo has overtaken Moscow as the most expensive city in the world, placing Moscow at third and behind Osaka at second.

A significant portion of Russia's profits and development is concentrated in Moscow as many multi-national corporations have branches and offices in the city. The plush offices and the lifestyles of the typical corporate employee in Moscow are often indistinguishable from any Western European city, although the average salary for the Muscovite is a bit lower. Since the 1998 Russian financial crisis, various business sectors in Moscow have shown exponential rates of growth. Many new business centers and office buildings have been built in recent years, but Moscow still experiences shortages in office space. As a result, many former industrial and research facilities are being reconstructed to become suitable for office use.
The upper trading rows at GUM near Red Square

However, while the overall stability has improved in the recent years, crime and corruption continue to remain a problem hindering business development.
Paveletskaya Tower business center

The Cherkizovskiy marketplace is the largest marketplace in Europe with daily turnover of about thirty million dollars and about ten thousand sellers from different countries (including China, Turkey, Azerbaijan and India). It is administratively divided into twelve parts and covers a wide sector of the city. It is closed from 1 July 2009.

In 2008, Moscow had 74 billionaires with average wealth of $5.9 billion, which placed it above New York's 71 billionaires. However, in 2009, there are only 27 billionaires in Moscow compared with New York's 55 billionaires. Overall, Russia lost 52 billionaires during the recession List of Russian billionaires by net worth. Topping the list of Russia's billionaires in 2009 is Mikhail Prokhorov with $9,5 billion, ahead of the more famous Roman Abramovich with $8.5 billion, in 2nd place. Prokhorov's holding company, "ОНЭКСИМ" group, owns huge assets in hydrogenium energy, nanotechnology, traditional energy, precious metals sector, while Abramovich, since selling his oil company Sibneft to Russian state-controlled gas giant Gazprom in 2005, has bought up steel and mining assets. He also owns Chelsea F.C.. Russia's richest woman remains Yelena Baturina, the 45-year-old second wife of Moscow Mayor Yuri Luzhkov. Oleg Deripaska, the 1st of this list in 2008 with $28 billion, in 2009 is only 10th with $3.5 billion.

The nouveau riche, also called the "New Russians", often pejoratively, have a reputation for flaunting their wealth; the avenues for doing so, and subtly, have also increased in recent times — a sense of fashion and self-consciousness has instilled itself through the many haute couture and haute cuisine spots in Moscow.