Goodbye Golden Arches: Rebranded McDonald’s to Reopen in Russia

 A worker dismantles the McDonald's Golden Arches while removing the logo signage from a drive-through restaurant of McDonald's in the town of Kingisepp in the Leningrad region, Russia June 8, 2022. (Reuters)
A worker dismantles the McDonald's Golden Arches while removing the logo signage from a drive-through restaurant of McDonald's in the town of Kingisepp in the Leningrad region, Russia June 8, 2022. (Reuters)
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Goodbye Golden Arches: Rebranded McDonald’s to Reopen in Russia

 A worker dismantles the McDonald's Golden Arches while removing the logo signage from a drive-through restaurant of McDonald's in the town of Kingisepp in the Leningrad region, Russia June 8, 2022. (Reuters)
A worker dismantles the McDonald's Golden Arches while removing the logo signage from a drive-through restaurant of McDonald's in the town of Kingisepp in the Leningrad region, Russia June 8, 2022. (Reuters)

Sunday marks a new dawn for Russia's fast-food lovers as former McDonald's Corp restaurants reopen under new branding and ownership, more than three decades after the arrival of the hugely popular Western fast food chain.

The relaunch will begin on Russia Day, a patriotic holiday celebrating the country's independence, at the same flagship location in Moscow's Pushkin Square where McDonald's first opened in Russia in January 1990.

In the early 1990s, as the Soviet Union crumbled, McDonald's came to embody a thawing of Cold War tensions and was a vehicle for millions of Russians to sample American food and culture. The brand's exit is now a powerful symbol of how Russia and the West are once again turning their backs on each other.

McDonald's last month said it was selling its restaurants in Russia to one of its local licensees, Alexander Govor. The deal marked one of the most high-profile business departures since Russia sent tens of thousands of troops into Ukraine on Feb. 24.

McDonald's iconic "Golden Arches" have been taken down at sites in Moscow and St. Petersburg, where they will make way for a new logo comprising two fries and a hamburger patty against a green background. The reopening will initially cover 15 locations in Moscow and the surrounding region.

The new chain's name remains a closely guarded secret. A change in the name of the McDonald's app on Friday to "My Burger" generated some online excitement, but the chain's press team said this was only temporary, the RBC daily reported.

A motto on the app's home page read: "Some things are changing, but stable work is here to stay."

Russian media, citing leaked images of the new menu, have reported the renaming of dishes such as the Filet-O-Fish to "Fish Burger" and Chicken McNuggets to simply "Nuggets". Reuters could not verify the changes.

Headwinds
Govor has said he plans to expand the new brand to 1,000 locations across the country and reopen all the chain's restaurants within two months. But there may be some headwinds.

It takes decades to build a brand, said Peter Gabrielsson, Professor of International Marketing at Finland's University of Vaasa, and the new launch is crucial for the brand's future success.

"Opening day is important because it is the first time consumers can really feel and touch and see the brand and what it stands for," he said. "It's important what the reaction will be and obviously people will be comparing it to McDonald's."

McDonald's, the world's largest burger chain, had owned 84% of its nearly 850 restaurants across Russia and it took a charge of up to $1.4 billion following the sale to Govor, whose GiD LLC had previously run 25 restaurants.

Oleg Paroev of McDonald's Russia has said other franchisees would have the option of working under the new brand, but the traditional McDonald's brand will leave the country. McDonald's has said it will retain its trademarks.

McDonald's last year generated about 9%, or $2 billion, of its revenue from Russia and Ukraine. McDonald's has the right to buy its Russia restaurants back within 15 years, but many terms of the sale to Govor remain unclear.

The TASS news agency said on Wednesday McDonald's would stay open as usual at airports and train stations in Moscow and St. Petersburg until 2023, quoting a source close to Rosinter Restaurants, another franchisee.

"Rosinter has a unique agreement under which the American corporation cannot take the franchise away. They can operate in peace," TASS quoted the source as saying.

Rosinter declined to comment. McDonald's did not immediately respond.



Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
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Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry.

Construction on the "Monte Galala Towers and Marina" project would ‌start in ‌the second ‌half ⁠of the ‌year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.

The 10-tower development - a partnership with the ⁠housing ministry and other state bodies ‌including the armed ‍forces' engineering authority - ‍would cost about 50 ‍billion Egyptian pounds ($1.07 billion), he added.

The project, also announced by the cabinet, will cover 470,000 square meters on the Gulf of Suez, about ⁠35 km south of Ain Sokhna, Shalaby said.

Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.


Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
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Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA

The Saudi-Polish Investment Forum was held today at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of Minister of Investment Khalid Al-Falih, Minister of Finance of the Republic of Poland Andrzej Domański, and Vice President of the Federation of Saudi Chambers Emad Al-Fakhri.

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation, expanding investment partnerships in priority sectors, and exploring high-quality investment opportunities that support sustainable growth in Saudi Arabia and Poland.

During a dedicated session, the forum reviewed economic and investment prospects in both countries through presentations highlighting promising opportunities, investment enablers, and supportive legislative environments.

Several specialized roundtables addressed strategic themes, including the development of the digital economy, with a focus on information and communication technologies (ICT), financial technologies (fintech), and artificial intelligence-driven innovation, SPA reported.

Discussions also covered the development of agricultural value chains from production to market access through advanced technologies, food processing, and agricultural machinery. In addition, participants examined ways to enhance the construction sector by developing systems and materials, improving execution efficiency, and accelerating delivery timelines. Energy security issues and the role of industrial sectors in supporting economic transformation and sustainability were also discussed.

The forum witnessed the announcement of two major investment agreements. The first aims to establish a framework for joint cooperation in supporting investment, exchanging information and expertise, and organizing joint business events to strengthen institutional partnerships.

The second agreement focuses on supporting reciprocal investments through the development of financing and insurance tools and the stimulation of joint ventures to boost investment flows.

The forum concluded by emphasizing the importance of continued coordination and dialogue between the public and private sectors in both countries to deepen Saudi-Polish economic relations and advance shared interests.


Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.