Business in Brief

Ford Workers File Suit



A union at a Leningrad region Ford plant has filed the first in a series of suits against the factory seeking up to 9 million rubles, union representative Alexei Etmanov said, RIA-Novosti reported.

The union is preparing about 600 suits of 50,000 rubles to 150,000 rubles each, claiming that the management of the factory did not pay them for overtime work, he said. (MT)




LUKoil May Invest Less



LUKoil may invest $8 billion next year, less than its guidance for capital spending this year, even as it targets an increase in crude output of as much as 2 percent.

The firm will study investments under scenarios of crude trading at $80 a barrel, $60 and $40, CEO Vagit Alekperov said. (Bloomberg)




Small Business Commission



Prime Minister Vladimir Putin confirmed the composition of a government commission on small-business development, the government said Tuesday.

The commission is to be headed by First Deputy Prime Minister Igor Shuvalov and will include the president of the Opora small business lobby, Sergei Borisov, and Economic Development Minister Elvira Nabiullina, Prime-Tass reported. (MT)




Gazprom Pipeline Access



Gazprom's board met with executives from Rosneft, LUKoil and TNK-BP on Tuesday as the firm seeks to implement Prime Minister Vladimir Putin's order to open up its natural gas pipeline monopoly, the firm said Tuesday.

The board called for a "well-considered approach" to give oil firms and gas producers such as Novatek access to its gas pipelines. (Bloomberg)




Strategic Deposit List



A list of the country's strategic deposits will be drawn up by the end of the year and will contain 2,000 deposits, Anatoly Ledovskikh, head of the Federal Subsoil Resource Use Agency, said Tuesday, Prime-Tass reported. (MT)




For the Record



Russians pulled 1.5 percent of their savings out of banks last month to 5.98 trillion rubles, the Central Bank said. (Bloomberg)

Norilsk Nickel must suspend a planned $2 billion share buyback until the Krasnoyarsk arbitration court in Siberia reviews a suit filed by United Company RusAl. (Bloomberg)

Russian Railways cut its net income forecast for this year by 50 percent because of the global financial crisis, CEO Vladimir Yakunin said, RIA-Novosti reported. (Bloomberg)

Vneshekonombank has invested 20 billion rubles ($731.3 million) into Russian shares since last week, its top executive Vladimir Dmitriyev said. (Reuters)

Mobile TeleSystems raised 10 billion rubles ($367 million) in a sale of bonds to finance expansion. (Bloomberg)

Dixy dropped its plan to sell shares in London because of the "unfavorable situation on the markets," vice president Fyodor Rybasov said. (Bloomberg)

Severstal may delay major projects because of the global financial turmoil, said Roman Deniskin, the head of its resource unit. (Bloomberg)

Judges lowered tax claims on Russneft for 2003 to 2005 by about 60 percent to 8.1 billion rubles, RIA-Novosti reported. (Bloomberg)