Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Business in Brief

Sukhoi Offer to Hanoi

Reuters

HANOI, Vietnam — Aircraft builder Sukhoi says it wants to offer a new jet fighter model to Vietnam and is considering setting up a Southeast Asia maintenance center in the country, Vietnam’s state media reported Monday.

Mikhail Pogosyan, general director of Sukhoi, was quoted by the Lao Dong newspaper as saying Sukhoi had a history of cooperation with Vietnam’s airforce, which has been using Su-27 jet fighters.

"We want to introduce Vietnam to our new aircraft, the Su-30 MK," Pogosyan told the paper during a visit to Vietnam by President Vladimir Putin that ended Friday.




Skanska to Build IKEA

Reuters

Swedish construction firm Skanska said Monday it has won contracts to build a new $28 million store for furniture retailer IKEA and a $5 million paint factory for Akzo Nobel Dekor in Russia.

The IKEA center, construction time for which is forecast at eight months, will be located in a southern Moscow suburb and be the company’s second Russian outlet.

It will cover 31,000 square meters and include outdoor parking for 2,500 cars, Skanska said in a statement.

The Akzo Nobel Dekor factory, due to be completed by early 2002, will also be located in the Moscow region, it said.




MCC to Test CDMA

The Moscow Times

Moving a step closer towards digitalizing its network, mobile operator Moscow Cellular Communications received permission last week from the government to set up test operations on the CDMA 450 megahertz bandwidth, the company announced.

CDMA, which stands for Code Division Multiple Access, is a U.S.-based standard. Russia regulators have generally favored the European-based GSM standard.

The go-ahead from the government lets the NMT-450 cellular operator experiment on the CDMA-based IMT-MC standard.

NMT is an outdated first-generation analogue standard and MCC has been looking for ways to digitalize to compete with Vimpelcom and Mobile TeleSystems. The operator planned last year to migrate to the GSM 400/1800 standard, but had to change its strategy when equipment suppliers Nokia and Ericsson pulled out of supporting that spectrum.




Iraqi Oil Contracts

The Moscow Times

Iraq threatened Sunday to terminate contracts signed with Russian and Chinese oil firms to develop the country’s southern oil fields that had not been fulfilled, Agence France Presse reported Monday.

"The contracts have been signed to be carried out, and any contract that has not been honored will be terminated," Deputy Iraqi Oil Minister Faiz Shahin warned in the Al-Nassiriya newspaper.

In 1997, LUKoil and two other Russian firms, Zarubezhneft and Mashinoimport, signed an accord with Iraq’s Oil Ministry on developing Iraq’s West Qurna oil field.

However, LUKoil has been able to carry out only a limited amount of work in Iraq, with UN-imposed sanctions crippling the country’s oil industry.