` Ford Motor with Russia’s Soller’s Joint Venture will Suspend Production for a week laying off 700 Employees ‘

#AceFinanceNews – MOSCOW – April 09 – Ford Sollers car making plant, a joint venture of Ford Motor Company and Sollers, has suspended production for a week from April 7 to 15

Ford car making joint venture situated in the city of Vsevolozhsk in north-western Russia’s Leningrad Region will pass to production in one working shift and will lay off about 700 employees (the Ford joint venture has 2,267 employees now), additional days of idleness are introduced with further transition to the work in one shift.

The labour state inspection has made a warning to the general director of the joint venture that it was impermissible to violate labour legislation in staff dismissal.

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` Capital Flights from Russia in 2014 may reach $50 Billion per quarter if Harsher Sanctions are Imposed over Ukrainian Crisis ‘

#AceFinanceNews ST. PETERSBURG, Capital flight from Russia in 2014 may reach $50 billion per quarter if harsher sanctions are imposed on the country over the Ukrainian crisis, Alexei Kudrin, a member of the Presidium of the Russian president’s Economic Council, said.

If the sanctions affect only accounts of certain individuals, enterprises, operations or products, this will be “a mild scenario”, Kudrin said at a joint meeting of the presidiums of the Unions of Industrialists and Entrepreneurs of St. Petersburg and the Leningrad Region on Thursday, March 13.

He recalled that Western sanctions against Russia after the conflict with Georgia in 1998 had lasted about three to six months, and then the situation stabilized.

“This may last longer now until the sides find some political solution. So we have to understand that there may be a second wave of sanctions,” Kudrin said.

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Reuters – Itar-Tass – AP

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