Business in Brief
- By Unknown
- Mar. 05 2008 00:00
Putin Tells Gref to Up Loans
President Vladimir Putin on Tuesday urged state-run Sberbank, the country's biggest bank, to increase consumer lending to keep pace with loans to companies.
Sberbank should work "more actively" with consumers, Putin told chief executive German Gref in remarks shown on state television. (Bloomberg)
UAC to Sell Iran 100 Planes
Russia agreed to sell 100 passenger airplanes to Iran as it seeks to expand commercial ties with a country under United Nations sanctions for its nuclear program.
Russian and Iranian officials signed a preliminary accord last week for sales of 100 Tupolev Tu-204 and Tu-214 planes over 10 years, said Maxim Sysoyev, spokesman for the United Aircraft Corporation, the country's state aircraft holding. (Bloomberg)
Plasma Screen Duties to End
The country will abolish import duties on plasma and LCD screens and components for making glasses frames to boost production of the products in the country, the Economic Development and Trade Ministry said.
The Commission for Protective Measures in Foreign Trade also decided to cut export duties on ethylene polymers, a statement issued late Monday said. Economic Development and Trade Minister Elvira Nabiullina is the commission's deputy chairwoman. (Bloomberg)
St. Pete Bourse's First Sales
ST. PETERSBURG -- The St. Petersburg Exchange said Tuesday that it conducted the first two auctions of refined oil products for private brokers, selling 120 tons of gasoline for a total of 2.3 million rubles ($96,000).
Perm-based oil trader Uralmontazhstroi offered the two lots Monday, the exchange said in a statement. Twenty-six Russian companies and agencies have registered to participate on the bourse, the statement said. (Bloomberg)
Kazakh National Oil Fund
ALMATY, Kazakhstan -- Kazakhstan said Tuesday that its national oil fund grew 4.7 percent last month to a record on surging crude prices.
The fund, which the government created to guard against a decline in crude prices, rose to $22.6 billion from $21.6 billion in January, the Central Bank said in a statement. (Bloomberg)
E.On Raises OGK-4 Stake
E.On, Germany's biggest utility, increased its stake in power generator OGK-4 to 76.1 percent after completing an offer to minority shareholders.
E.On previously held 75.7 percent, OGK-4 said Tuesday. (Bloomberg)
Rosneft's Siberian License
Rosneft won a license to develop a field in eastern Siberia, as the country's largest oil producer pushes into regions closer to Asian markets, the Natural Resources Ministry said Tuesday.
Rosneft paid 1.2 billion rubles ($50 million) for the Umotkinsky oil and gas field in the Irkutsk region, the ministry said in a statement. (Bloomberg)
SocGen's Buyout Offer
Societe Generale made an offer to buy out minority shareholders in Rosbank for 194.09 rubles ($8.08) per share.
The offer was sent to Rosbank on Monday and is good for 70 days, Rosbank said Tuesday. (Bloomberg)
Ukraine's Airline Holdings
KIEV -- Ukraine plans to sell its stakes in the country's two biggest airlines, Transportation Minister Yosyp Vinskyi said, Ekonomicheskiye Izvestia newspaper reported.
The government plans to sell a 61.6 percent stake in Ukrainian International Airlines and 22.4 percent of Aerosvit, Vinskyi said, the newspaper said. Ukraine will also open its market to foreign low-cost airlines, Vinskyi was quoted as saying. (Bloomberg)
For the Record
Fortum and its Russian electricity generator TGK-10 may make as much as 30 million euros in additional profit by improving efficiency at TGK-10, Fortum said Tuesday. (Bloomberg)
Russia said Tuesday it was lifting a ban on poultry imports from Poland after the Polish government guaranteed the safety of poultry shipments. (Bloomberg)