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Russian Yachts and Money Are Going Where US Influence Has Waned

(Bloomberg) — Andrey Melnichenko was in a bind. Squeezed by European sanctions targeting Russian billionaires, one of Russia’s richest men needed a safe jurisdiction to protect the businesses he’d built. He found it in the United Arab Emirates.Moscow-based coal producer SUEK and Zug, Switzerland-based fertilizer firm EuroChem, both founded by Melnichenko, are opening local trading units in the Gulf oil exporter, according to five people with knowledge of the matter. The 50-year-old resigned fro

Construction Spending Increased 0.2% in April

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