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Business news — August 12, 2026

Business publications published on August 12, 2026 (UTC). This is a fixed calendar-day archive.

3 publications

  1. BusinessChinaBudget

    Russia's Economy Returns to Growth with 1.3% GDP Increase in Q2 2026

    Russia's economy has rebounded, with a 1.3% GDP growth in the second quarter of 2026, according to preliminary estimates by Rosstat. This follows a 0.2% decline in the first quarter. The growth was driven by retail trade turnover, food service turnover, freight turnover, and high domestic demand. The Russian economy grew by 0.6% in the first half of 2026. Minister of Economic Development Maxim Reshetnikov attributed the recovery to systematic work by the government and the Central Bank to support structural changes and increase economic stability.
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  2. BusinessBudgetCommodities

    ERC Proposes Scrapping VAT on System Loss Charge in Electricity

    The Energy Regulatory Commission (ERC) is proposing to remove the 12% Value Added Tax (VAT) on system loss charges in electricity, which amounts to billions of pesos annually. The ERC aims to finalize the resolution by early September and secure the Bureau of Internal Revenue's concurrence. This move is expected to provide immediate relief to consumers, with estimated savings of P6 billion. The proposal has received support from lawmakers and industry experts.
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