Business in Brief
- By Unknown
- Nov. 23 2007 00:00
Yukos Removed From RTS
Yukos, once the country's biggest company, was removed from the RTS exchange Thursday, 15 months after being declared bankrupt.
Trading in Yukos stock won't be allowed after Thursday, the RTS said.
The shares ceased trading on the MICEX exchange, the country's biggest by volume, more than a year ago. (Bloomberg)
Siemens Manager Charged
Siemens manager Lev Dubnov has been charged with embezzling 38.3 million rubles ($1.6 million), Interfax reported Thursday, citing a regional court in Yekaterinburg.
Dubnov, a sales manager at the Siemens Sverdlovsk regional medical department, was detained Nov. 21 as part of an investigation into embezzlement by a number of officials in the local health-care department, the news agency said. (Bloomberg)
InBev Subsidiary Raided
Police have raided the Moscow offices of Sun Inbev, part of the world's leading brewer, InBev, the company said Thursday.
"The investigative actions are linked to a probe concerning two of InBev's contractors," Sun InBev spokesman Alexei Shaveznov said.
Sun InBev is Russia's second-largest brewer behind Baltika. (Reuters)
Inflation Reaches 10.8%
The inflation rate rose to 10.8 percent in October, the highest level since February last year, as oil and food prices advanced, the State Statistics Service said in a statement Thursday.
The rate increased from 9.4 percent in September, the service said. Prices rose a monthly 1.6 percent in October. (Bloomberg)
Producer Prices Grow Faster
The cost of goods leaving Russian factories and mines rose at a faster pace in October after slowing for three consecutive months, the State Statistics Service said Thursday.
Producer prices rose an annual 14.2 percent, compared with 8.6 percent in September, the service said in a statement. Prices fell a monthly 0.1 percent, compared with a drop of 0.6 percent in September, the statistics office said. (Bloomberg)
Retail Sales Growth Slows
Retail sales growth slowed to an annual 14.6 percent in October, the ninth consecutive month above 14 percent, the State Statistics Service said Thursday.
Sales growth eased from 15.4 percent in September, the service said in a statement. Retail sales rose 3.4 percent in the month. (Bloomberg)
Currency Reserves Rise
Foreign currency and gold reserves, the world's third largest, rose for a sixth consecutive week as the nation benefited from high energy prices, the Central Bank said in a statement Thursday.
The reserves advanced $600 million to a record $455.8 billion in the week ended Nov. 16, the Central Bank said. (Bloomberg)
Wood Duties Hike in Doubt
HELSINKI -- Russia may scrap plans to raise duties on its wood exports, Finnish business daily Taloussanomat reported Thursday, citing Finland's Minister for Trade and Development Paavo Vaeyrynen.
Russia's government has indicated that it may leave the duties at their current level, Taloussanomat said. (Bloomberg)
2nd Investor for OGK-6
Unified Energy System has found a second investor for OGK-6, the power generator that will pass under the control of Gazprom in July, Interfax said Thursday, citing an unnamed utility executive.
Gazprom plans to control OGK-6 after UES, the country's national utility, breaks up in the summer. The second investor wants to buy a blocking stake in the company, the news agency said. (Bloomberg)
Gazprom Units Raise $3Bln
Units of Gazprom raised more than $3 billion from banks and a bond sale, Interfax reported Thursday, citing unidentified people with knowledge of the transactions.
Gazprom Neft, the state-run company's oil producer, borrowed $2.2 billion from foreign banks, the service said. Separately, Gazprombank sold 20 billion rubles ($820 million) of bonds, Interfax said. (Bloomberg)
Chevron, Tatneft in Talks
Chevron, the second-largest U.S. oil company, seeks new heavy-oil projects in Russia and is in talks with Tatneft, which may have the country's largest reserves of the viscous fuel.
"Russia has large, undeveloped heavy-oil deposits, and we'd like to be involved in them," Ian MacDonald, head of Chevron's Russia unit, Chevron Neftegaz, said Thursday. "We talk to Tatneft. We talk to the government of Tatarstan." (Bloomberg)
FCC Joins Gazprom for Bids
MADRID-- Fomento de Construcciones & Contratas joined Gazprom to bid for two toll-road concessions in Russia valued at a combined 2 billion euros ($2.97 billion), Gaceta de los Negocios newspaper reported Thursday, citing unidentified people close to FCC.
The Spanish company hopes that its alliance with Gazprom will be a first step toward winning several highway and public-works contracts in Russia, the newspaper reported. (Bloomberg)
Novatek Plans Output Hike
Novatek, the country's second-largest gas producer, plans to raise gas production by 9 percent next year after an unusually warm winter kept output flat this year, the company said Thursday.
"We plan to increase gas output by 2.5 billion cubic meters next year. This year, we expect to produce at least as much as we produced last year," said Alexander Lyadov, head of Novatek's marketing department. (Reuters)
Mechel Eyes Bulgarian Plant
Mechel, a metals and coal producer owned by billionaire Igor Zyuzin, applied for antitrust approval to buy a power plant in Bulgaria as it seeks to expand into energy generation, Bulgaria's competition commission said on its web site Thursday.
Mechel sought permission to take control of Topolofikcia Rousse EAD from Slovenia's Holding Slovenske Elektrarne, the commission said. (Bloomberg)
TMK Bids for Pipe Mill
TMK, the country's largest producer of steel pipes for the oil and gas sector, said Thursday that it had bid an undisclosed sum for the assets of Polish pipe maker Walcownia Rur Jednosc.
TMK, or Trubnaya Metallurgicheskaya Kompaniya, has been in long-running talks with Polish authorities about the possible acquisition of WRJ, which has capacity to produce 250,000 tons per year of steel pipes but is not currently operational. (Reuters)