EBRD funds modern heating systems in one of Russia’s coldest areas
Deal could help private energy-service providers to work in Yakutia’s municipal sector
The EBRD will provide up to 3 billion roubles (?75 million) to modernise and increase the energy efficiency of district heating systems in a permafrost area of Far East Russia where the heating season lasts 10 months a year and winter temperatures drop to -50 degrees centigrade for extended periods.
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Impact of Globaltrans acquisition
Globaltrans at end April announced that it would acquire 100% of Metalloinvesttrans, Metalloinvest’s captive rail freight operator, for $540 mln. We expect the deal to be completed very soon, and the company should be consolidated into Globaltrans’ financials from June.
We plug this into our model, leaving all other assumptions unchanged.
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Russia’s EuroChem buys Germany’s K+S Nitrogen distributor
Russian fertilizer producer EuroChem has acquired K+S Nitrogen (KSN), the nitrogen fertilizer distribution unit of Europe’s largest potash distributor K+S AG (K+S), in a transaction which values the business at 140 million euros, the companies said.
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Top managers of Russian developers and homebuilders discussed regulation, management competitiveness, the market beyond Moscow, the cost of land, investment and the future outlook.
What would you change in the industry?
It is no secret that developers have long been unhappy with regulation of the industry. Some cities (St Petersburg, Ekaterinburg) are better in this regard, while others (Moscow) do not even have an approved city development plan.
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Gazprom has years to wait for new EU energy package exemption
The EU could grant South Stream an exemption from the new rules of the EU energy market aimed at separating energy production from distribution.
But Gazprom says the procedure is likely to take years
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Investors await positive news
Russian stocks are likely to trade flat, with investors eyeing the European Central Bank as its chief Mario Draghi defines the bank’s interest rate policy.
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Alfa Group Asks VEB for Loan to Buy Domodedovo Airport
The investment vehicle of Alfa Group owned by Russian tycoon Mikhail Fridman, has applied to Vnesheconombank (VEB) for a loan to buy Moscow’s Domodedovo airport.
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Russian Far East devt entity to sour investment climate
Creation of a state corporation to develop the Russian Far East will undermine the investment climate in the whole country and will hamper the development of the Far East and Transbaikal areas, Alexei Kudrin, the former Finance Minister and Civil Initiatives Committee chairman said.
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Putin calls for supporting Russian products’ promotion abroad
Russia’s Prime Minister Vladimir Putin suggested establishing a support system on Monday to promote domestically made products on international markets.
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Invest in Russia but proceed with caution, says expert
A noted Russian business consultant who has spent the past 17 years guiding foreign direct investors through the turbulent maze of doing business in Russia held his first ever seminar in the UK organised by the Russia House and supported by the Russian Trade Mission
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Russians on top of consumer credit
FICO, the leading provider of analytics and decision management technology, and the National Bureau of Credit Histories (NBKI), Russia's leading credit bureau, released data showing that Russians are managing their credit better than at any time in the last three years.
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THE RISE OF RUSSIAN CAPITALISM
Russia's transformation from central planning to a market-based economy over the past 20 years must rank as one of the biggest economic stories of our time, according to a new book on the rise of Russian capitalism.
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Russian firms should be privatized domestically
It would be better to privatize Russia companies on the domestic market, as it is likely to encourage the development of the financial market, the Federal Service for Financial Markets’ Director Dmitry Pankin said.
“The government is discussing the issue, but there is no decision yet,” Pankin said.
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Gazprom signs deal to gain 49% in Vietnamese shelf project
Russia’s gas giant Gazprom has signed an agreement to receive 49% in a project to jointly develop the 05.2 and 05.3 blocks on the Vietnamese shelf, Gazprom said.
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