In conditions of global climate changes and increasing attention to cutting carbon footprint (emissions) in economy Russian climate projects are becoming a strategic tool of implementing national interests of sustainable development. In spite of international pressure and attempts to exclude Russia from climatic processes the country forms its own market of carbon units, where every project can contribute to lowering or eliminating greenhouse gas emissions. The article studies key ways of getting carbon units of Russian climate projects. The authors identified theoretical and legal basis of functioning of the national system of greenhouse gas emission registration, keeping the register of carbon units, their regulation in national circumstances and general specificity of shaping Russian market of carbon units. The research was based on analyzing the open register of carbon units, which shows the acute climatic projects. In register analysis the authors systematized climate projects by four key approaches to cutting or preventing emissions and increase in greenhouse gas absorption. Special attention was paid to institutional role of carbon unit as economic asset and element of national climatic policy. Drawbacks of the current model were shown, including insufficient development of forest-climatic and bio-oriented projects. The research allows us to draw conclusions about the necessity of further development of national practice of getting carbon units.

   The article presents a material dealing with a very complicated but acute problem, i.e. development of viable higher engineering and technical education in those regions of the country, which within the last three years changed their name from ‘new territories’ to historical regions. For hundreds of years they built a steadfast foundation and mainstay of traditional Russian ideas of the Russian state structure. It was shown that the foresight of higher education in viable university requires not only deep analysis of expert notions of conceptual comprehension of the university mission in the field of promising education engineering technologies, but attention to natural risks arising due to their specific geographical location. The authors studied the current situation in historical region universities as a situation of transformation in conditions of serious external dynamic changes that result in the high degree of uncertainty, i. e. risk impact. The article on the basis of vague log-frame-technologies used standard recursive schemes and patters of building the structure of ‘University’ active systems. The provided material can help research teams build algorithms for developing new structures of personnel through-training by the model ‘pre-school education – school (college) – university – enterprise’. It can be useful for promising research in the field of further development and introduction of models of viable systems in practice of creating and diagnosing organizational structures.

   The article studies optimum distribution of resources assigned to a certain set of interconnected operations by the criterion of minimizing time necessary to accomplish all the operations. In contrast to the traditional resource of separable type a resource of re-enterable type was shown, i. e. the type permitting repeated use. Formalization of the task in dynamic setting was provided. For cases of uniform linear productivity functions analytical solution was given and substantiated. Non-optimal character of certain heuristic algorithms was shown. Geometric criterion of optimum character for cases of two independent operations was highlighted. On this basis the case of complete internal resources switching was built.

   The article shows practical application of rising graphs for building models of knowledge localization net in cities of different scale. Results of modeling based on three types of rising graphs were compared: they are casual, preferred joining and mixed type that uses different combinations of casualty and preference in arc shaping. The author carried out mathematic description of the model for the latter type of rising graph. Methodology of assessing adequacy and efficiency of the model was put forward, which covers not only identifying the form of dependence between real and theoretical models of distribution of degrees, dynamics of node degree and average local clusterization factor but also analysis of the inner structure of net. As a result the author substantiated impossibility to describe the real net of knowledge localization by a uniform model. Models of rising casual graph and of mixed type are considered the most adequate. Dynamics of clusterization factor can be modeled mainly by graph of preferable joining but with condition of disparity of the indicator rate. The obtained conclusions make the objective of developing models for small nets more acute.

   The article studies the goal of automatic forecasting switches of different market conditions on oil market with the help of neural net models. For the analysis the authors used data on oil (Brent) prices in 2000-2025. Classification of market periods was done on the basis of fluctuating statistics – volatility, asymmetry and excess, which provides an opportunity to identify automatically stable, volatile and crisis phases. The efficiency of three types of competitive neural nets is compared: Simple RNN, LSTM and GRU. It was found that more complicated architecture (LSTM, GRU) surpasses the basic one (RNN) in accuracy and full identification of events of condition switch. The authors highlighted the importance of rolling-sign engineering and showed that this approach provides sustainability and adaptability of models to market changes. Research findings demonstrate promising nature of deep neural nets for monitoring and early warning of market events. Finally, restrictions of the approach were discussed, as well as trends of further investigations, including integration of external data and development of methods of explainable AI.

   The article provides analysis of bio-technology potential in food industry, which allows us to identify opportunities to introduce bio-technologies and put out bio-produce with high added value. Within the previous period of time food industry of Russia has shown sustainable growth in production volumes, which forms an important indicator of economy development and provision of food security in the country. Dynamics of food produce growth is stipulated by a number of factors, including state support of the sector, modernization of production capacities, extension of the product range and rise in export potential. One key growth driver is the program of import substitution. Balance between export and import of food produce is a significant indicator of economic sustainability and food security of the country. By 2025 export-import balance of food products and agricultural raw materials has seriously improved in Russia, which testifies to successful realization of state policy in the field of agriculture and food industry oriented to provision of food security of the country and developmentt of export potential.

   Transformation of business-ecosystem management is connected with optimization of the management system, rise in quality and efficiency of making scientifically justified decisions. At the same time it is reasonable at certain stages of development to use different ways of building a system of ecosystem management. Upgrading ecosystems lead them to a new stage of development in the form of a human ecosystem. It provides an opportunity to use new approaches to improve management at all levels, from global and country to regional, city and corporate. The article shows the development of ecosystems as a way to describe complicated organizations and provides classification of their principle forms. The author gives a definition of ecosystems worked-out on the basis of the idea of ecosystem service, which demonstrates the essence of processes of their coordination and dynamics, as it allows us to classify business-ecosystems taking into account variety of their use. The article puts forward the grounds for further discussion about self-organization in ecosystems in view of processes of ecosystem coordination and management within the frames of approaches of ecosystem focus-corporation, leadership and broker.

   The article analyzes regularities and trends in the development of the sphere of innovation among competitive market of big corporations in Russia. Advantages of independent introduction of innovation by companies were investigated in comparison with the use of external companies for elaboration of innovative solutions. Big Russian corporations buy out young start-ups or make them dependent through programs of business-accelerators. It makes an adverse effect on the competitive environment, which is confirmed by the absence of new companies among big Russian business within the last five years. Competition in such acute spheres as automobile, mobile communication, equipment manufacturing and big retail has stabilized in the process of well-known companies’ struggle with each other. Innovation made in the process of such competition does not affect market and prevents one or several companies from surpassing their competitors. It demonstrates a poor impact of innovation on Russian market. Break-through innovations are hindered by excessive control over emerging companies on the part of big business. Innovation companies are bought out at the development stage, later they adapt to corporate culture of business and do not develop unique business-projects being dependent on the central management group. The author underlined that big corporations should focus on the development of their own innovation potential rather than attract external innovators. Initial management of innovation process can provide better understanding of projects and results necessary for the company, which could cut the risk of investment in comparison with the use of external companies.

   The article studies some theoretical aspects dealing with the essence of the notion of finance and budget security of the region. Budget security is the most important element of regional economic stability, which includes finance resource management necessary to ensure sustainable development, firmness against economic risks and ability to meet current and future obligations. Topicality of providing budget security of the region is connected with sanctions imposed on Russian economy and problems of budget management in some entities. Analysis gives an opportunity to identify several approaches to appraisal of budget security in the region, such as risk-oriented, coefficient, integral and rating. Scientists show interest to problems of risk-management of budget security, estimation of budget security rate and finding the impact of budget security of the region on its economic security. By using methodology of estimating the debt stability the standing of budget security of regions in the Volga Federal Area was revealed. Appraisal of budget security of regions covered the following stages: calculation of necessary coefficients; interpretation of obtained data by spatial analysis; splitting regions into groups by the rate of debt dependence and the rate of expenses for debt repay.

   The article analyses current trends in development of finance market and banking system of Algeria. The experience of regulating partnership financing in the Republic of Algeria was studied, on the basis of which a conclusion was made about shortcomings of the legal and regulatory framework that hinders legalization of respective finance instruments. Special attention was paid to methodological and practical aspects in regulation of the banking sector. In spite of the fact that introduction of partnership financing could provide new opportunities for economy in Algeria, the authors showed that further development of the banking system and finance market of the country depends on adaptation to international standards, strengthening the regulatory base and improvement of finance literacy of the population. With effective macro-prudential regulation Algeria can take an important place in the regional system of Islamic finance and promote sustainable growth in national economy.

   The present research deals with analyzing the role of oil rent in Russian economy and finance system as well as identifying systemic restrictions stipulated by today’s dependence of the country on hydrocarbon export. The basis of the work is formed by historic – economic and macro-analytical approaches, which allows us to trace transformation of economic growth mechanism in Russia from mobilization model of the Soviet Union to the current model of the Russian Federation, where power resources perform the function of capital source. Historically in conditions of insufficient amount of private savings and limited possibilities of finance institutions earnings from power resource export became the base of budget revenue of the budget system in the Russian Federation, the source of investment project implementation and safe backing of long-term social and economic stability. However, oil price drop in spring 2025 caused by foreign economic factors (trade war of the US with record high custom-tariff restrictions and symmetric response of countries-counteragents, a growth in oil supply on the part of OPEK+ countries and general decline in demand on traditional power carriers) exposes vulnerability of the current finance and in general macro-economic structure. Analysis of the federal budget of Russia fulfillment for the 1sr quarter 2025 shows a sharp rise in deficit, drop in oil and gas revenues and reduction in the liquidity part of the National Wealth Foundation. These factors can threaten sustainability of the finance system of Russia. Today’s compensatory steps, i.e. tax adjustment, foreign currency interventions, operative redistribution of expenses should be considered as short-term ones. Without structural transformation and cutting rent dependence Russian economy could run into risk of entering a long-term stagnation. In conclusion the research highlighted the necessity of institutional reforms, strengthening investment climate and passing to saving model based mainly on internal capital but not on export rent.

   Today availability of non-finance accounting at the company is an important and necessary condition to attract investors and increasing number of consumers of goods and services. While making decisions on capital allocation investors take into account several factors, one of the most important is ESG-strategy aimed at cutting negative impact on the environment, then comes creation of a positive effect on social environment, provision of work transparency and other factors connected with the best practice of corporate management. The authors analyzed the impact of non-finance accounting on company reputation in close relation with finance results of ‘Sberbank’. A conclusion was drawn that introduction of ESG-strategy and publication of non-finance accounting can have an indirect positive influence on company functioning in long-term perspective, create favorable economic environment and provide investment appeal.

   Topicality of the article is stipulated by the necessity to position correctly the institution of the central bank within the frames of today’s monetary system.

   The article is specific due to its inter-disciplinary character. The author raises questions both of metaphysical and economic nature.

   Metaphysical questions are connected with the problem of cash fetishism, which has become a new global religion, within the frames of which capital is worshiped. Economic questions deal with the development of the central bank and its current positioning.

   Therefore, research subjects in the article are: on the one hand, capital and on the other hand, the central bank that forms the core of the banking system.

   The goal of the research is to find scientifically justified answers to questions about the role of capital in human life and today’s status of the central bank.

   Unusual conclusions made on the basis of research findings include the warning against fierce capital worship and substantiated necessity of deep transformation of the institution of the central bank.

   The author used such methods of research as systemic analysis, deduction, method of logical and historic unity and some others.

   The article substantiates the concept Bank 5.0 as a new institutional way of organizing banking in conditions of digital disintermediation. The research leans on theoretical and analytical approaches based on comparison of Bank 4.0 with the system Bank 5.0 being shaped now. The author carried out institutional analysis of changes connected with including banks in the distributed environment and gave logical and structural description of functions that are realized in digital infrastructures. It was shown that with transit to Bank 5.0 the functional role of the bank changes. It is no longer a universal intermediary that directly performs banking operations and starts acting as a participant of digital infrastructure. The bank bears responsibility for checking acceptability and correctness of operations, verification of client personality, observance of deal terms and collaboration with other components of finance ecosystem. Its functions include not only delivery of all services and provision of safe access to them, but also juridical justification of transactions and institutional coordination of digital processes. The bank becomes a junction in the distributed environment, where functions are performed through protocols, interfaces and digital identifiers, but not though centralized procedures. In this way its significance is retained not at the expense of control over operations but at the expense of participation in logics of confidence, performance and standard compliance. Research findings show the shift of bank functional role from centralized operator to a junction of digital infrastructure providing juridical competence and technical realization of operations. The transit to the concept Bank 5.0 is accompanied by institutional transformation, where bank participates not as a service supplier, but as a validating agent in the distributed system. It could require revising of basic ideas in banking and principles of digital interaction regulation.

   In conditions when the amount of expenditure in the budget system of the Russian Federation exceeds disposable revenues the problem of necessity to raise efficiency of budgetary fund use becomes sharp enough. At the same time we consider the efficiency of budgetary funds not only in its classical understanding (budget funds are thought to be efficiently used, in case the minimum volume of funds was used to reach the set goals or the best result was attained by using a fixed amount of budgetary funds) but also in view of the absence of finance violations. One mechanism that allows us to exclude or minimize finance violations is state finance control. Interest in studying state finance control and identification of promising lines in its development has shown serious rise during the last years. However, upgrading any mechanism could be more productive, if historical experience is taken into consideration.

   In view of the fact the goal of the present research is to analyze pre-revolution and soviet home theoretical and applied experience in implementing state finance control and systematization of current trends in studying state finance control on the basis of historical analysis, synthesis, comparison and classification.

   Finance sustainability of enterprise is not only an intermediate link between components of its work (finance, production, marketing etc.) it also shows its commercial success. The article studies stages of finance sustainability of the enterprise, appraisal of its finance stability based on E. Altman model and the method (proposed by I. A. Sushkova) of differential calculation, where values of economic coefficients are compared with their cut-off criteria. Dynamics of differential scattering indices was analyzed in view of lines of economic activity and general situation in the so-called risky zones in order to identify destabilizing factors and elaborate steps for risk neutralization. Variety of today’s methods can help analyze enterprise functioning, plan key production parameters and provide economic security and finance sustainability of the enterprise. Practice shows that Russian enterprises usually use finance and analytical methods. The enterprise work is subjected to a wide range of risks stipulated by corporate management and uncertainty of external factors. The author illustrated the pyramid of enterprise finance risks, showed elements of economic security of the enterprise affecting its finance sustainability and put forward recommendations aimed at improving enterprise finance sustainability.

   The article provides methodology of estimating the current value of credit organization, which can help accurately assess value of the bank in today’s conditions by improving service quality, including digital one. The review of academic publications was given dealing with problems of current approaches to estimating credit organization value. At the 1st stage the Basel Agreements and legal documents of the Central Bank of the Russian Federation were analyzed within the frames of evaluating economic capital; at the 2nd stage technology of machine learning using gradient boosting was applied; at the 3rd stage methodology of finding index of digital maturity SDI360 was analyzed, which was supplemented by the author in order to estimate the current value of credit organization. The author pointed out that proposed methodology has a number of benefits in comparison with traditional methods of estimating bank value based on results of the complex analysis of parameters included in estimation of finance losses connected with risk realization during principle work, as well as the rate of digital maturity of the bank, synergy effect with another bank within the frames of M&A deal, results of forecasting indicators of bank functioning calculated by using technology of machine learning.

   The article analyzes the calendar anomaly effect connected with a certain month on Russian stock market. The effect of the month is a season anomaly, which implies that share profitability in different months of the year can seriously differentiate. The author analyzes historical data of 4 indices – IMOEX, RTSI, MCXSM, MOEXBC – with various company capitalization, certain regularities in share price dynamics can be seen in different months. The research covering the period from 2010 to 2023 was carried out with the help of linear regressive analysis. To raise accuracy of results apart from the principle period sub-periods with different share market volatility were studied: from 2010 to 2018; from 2019 to 2023 and the modified complete gap excluding 2020 and 2022. The findings of the research show the presence of May effect in the modified time gap for RTSI index. However, in case transaction costs are taken in account, for instance agent relation costs, the presence of anomaly is refuted at the expense of commission on stock market. For 2 sub-periods the presence of anomaly in all four indices was not confirmed due to small sample.

   The article provides a complex review of the Chair of Economic Theory of the Russian Plekhanov University of Economics operation, which highlights its historical importance, scientific and pedagogical achievements and today’s initiatives. It is the oldest chair set up in 1907 and now it is a multi-profile center of research. The historical excursus includes such key stages of the Chair work as foundation of the academic society in 1915, employees’ contribution to struggle with fascism during the Great Patriotic War, post-war participation in the Head Council on Economics, cultivation of virgin lands and so on. Special attention was paid to prominent economists, who worked on the Chair and developed its current outlook. They are: G. S. Grigorian, the Head of the Chair from 1959 to 1975, who researched commodity production and trade capital; L. I. Abalkin, the Head from 1967 to 1976, a well-known opponent to liberal reforms; G. P. Zhuravleva, the author of 30 text-books and 200 works, who brought up 40 PhD and Doctors of Science; L. G. Cherednichenko, who headed the Chair when it won the competition ‘The Beast Chair of Economics’ (2010); E. V. Ustyuzhanina, who founded the School of Young Researchers. Among the present day achievements of the Chair (the Head of the Chair is I. P. Komarova) we can mention 41 publications in Scopus (8 – Q1/Q2), 19 – in WoS; 9 patents; RNF grants (3.85M rubles); 13 text-books and 6 work-books; programs of further education (crypto-currency trading, ESG-transformation). The Chair mission is to develop economic thinking, promote science and adapt education to global challenges. Characteristic features of the Chair include rich history and continuity in academic schools. The Chair takes a leading position in methodological work through arranging school contests, on-line courses and delivering master programs. Geography of the Chair partners includes the Republic of Belarus, Uzbekistan and China. Innovation technologies are widely introduced and used in tutorial work, such as conferences, quests, round-table discussions with students’ participation.

   For decades scientific industry of Russia has been facing a serious problem dealing with personnel attraction to the academic sphere and stimulation of their work activities. Today we can observe a decline in the number of scientific workers in the Russian Federation, a rise in the average age of scientists in organizations and a growth in work load due to the high level of combination of several positions. This situation was caused by a number of objective and subjective reasons. According to the author, the problem of scientists’ remuneration is one of the most important factors that affected the situation. The system of providing incentives to academic employees in Russia should be revised and upgraded.

   The goal of the research is to elaborate methods aimed at developing the system of stimulation of scientist work.

   The author gave a definition of infrastructure of labour market of academic personnel in Russia, analyzed its components, including sales and finance markets. The article studies key types of buyers of research on sales market and shows specific features of employment of scientists. The service ‘Scientists – Researchers’ was also discussed. Components of infrastructure of labour market of academic personnel were analyzed.

   The article studies features of the current wave of conceptual review of today’s ideas about the business goal, which are stipulated by present day paradigm changes in the business environment. It is shown that revision of outdated ideas is connected with considering the corporate goal as a conceptual basis for elaboration of theoretical description of mechanisms of shaping the sustainable competitive organization development proceeding from its complicated link with society and nature. A shift in overseas research on corporate management that took place in the last decade caused domination of approaches based on the necessity to change radically the view on company nature and its goal. At the same time the author highlighted the importance to interpret the corporate goal as crossing frames of profits and dealing with elaboration of mechanisms of sustainable competitive development based on common value creation that corresponds to the general wealth and helps the organization and all concerned parties. The prospect put forward by the author in view of current changes in understanding the corporate goal proceeds from rejection of interpretation of profit as the key goal of business. This prospect can also promote reaching a new level of research on organization goal and corporate management based on regard to dubious nature of economic values and interests of individual and group entities of economy. The present approach focuses on the fact that in contrast to profit the added value of the organization acts as a generalized indicator of its contribution to profit yield in national product and a specific target landmark that unites and motivates all concerned parties. Therefore, a possibility arises to form competitive business-models with high added value that meet current realities.

   The article provides an innovation and brand new algorithm of assessing the impact of ecologic and social factors of sustainable development on economic indicators of the company. Methodology and mathematic model elaborated on the basis of leading Russian companies can help identify correlating links between ecologic and social indicators of sustainable development and economic results of work. To understand the cause-and-effect relations between finance and ESG-figures the author proposed to use the method of stress-testing with different scenario conditions. As a result of stress-testing and modeling the target function behavior it is possible to find individual critical values of ecologic and social ESG-indicator for every company. Research findings allow us to identify company vulnerability to different ESG-risks and borders of risk tolerance. They can also be used to inform investors and other concerned parties about risks connected with ESG-factors.

   The article studies the importance of innovation and its introduction in practice for economic development of society and analyzes historical experience of Ancient Rome in this sphere.

   The principle idea implies that active innovation and introduction of new technologies promote economic growth of different industries, while hindering innovation processes can cause its slowdown.

   The author also describes various approaches to estimation of future technological development and provides alternative opinions on the subject of technological singularity and the end of technological progress. The impact of innovation on different aspects of society, including economy, education and culture was analyzed. The author highlighted the necessity of efficient management of capital and investment in innovation for successful development of society.

   The article underlines the role of management and coordination technologies in shaping and developing a new business-model and also provides their structural characteristics subdividing technologies into internal that are used by organization – leader to support in-company processes and external ones, necessary to interact with counteragents, whose interrelation affects efficiency of the whole ecosystem management. Apart from that, the author pointed out to the trend, where key vector of management technology development in business-ecosystem is mainly connected with information (digital) technologies and their humanization. At the same time it was underlined that due to complexity of the ecosystem phenomenon and its independence on traditional hierarchical principles special role should be attributed to decentralization, self-regulation and coordination. Based on G. Minzberg opinion the author identified 6 key technologies and mechanisms of coordination: direct control, standardization of operations and processes; standardization of results (output); standardization of qualification; mutual agreements and standardization of norms. In spite of their relative variety mechanisms of horizontal links should prevail in the development of business-ecosystem and to provide efficient functioning of these mechanisms a common coordination center should be set up.

   The article studies problems of cost cutting and client loyalty management in hotel business illustrated by changes in price policy on F&B services (breakfast included). Special attention is paid to analyzing the impact of rising breakfast cost to the rate of guest satisfaction and indicators of operative efficiency. Systemic analysis showed that successful cost management is possible not only at the expense of cost cutting but through adequate use of the resource base and personnel involvement. Studying changes in service prime cost showed that cost minimization does not necessarily cause reduction in client loyalty, in case service is maintained at high level thanks to employees’ professionalism. The author underlined the role of human factor, client-orientation and personalized approach, which could smooth after-effects of economic changes and foster keeping and even raising guest satisfaction. The article also focuses on the importance of introducing innovation in catering management to improve competitiveness and develop steadily hotel enterprises. The obtained findings can form a basis for elaboration of effective strategies in the field of cost optimization and increase in valuable offer in hotel sector.