OREANDA-NEWS. The Forbes magazine first published its “Russia’s largest private companies 2013” rating which outlined the profile of the Russian economy as “being defined not only by oil and construction industries, but with transport, IT and retail leading growth this year.”
The rating included public and private companies, with state and foreign participation not exceeding 50%. The ranking is based on the revenues received in 2012 and is largely reliant on the IFRS reporting.
Forbes excluded financial corporations from the list due to the significant differences in terms of business activity and accounting as opposed to trade and industrial companies. In addition, while the enterprises managed by assets management companies did make it to the ranking, the asset management companies themselves were discounted from it.