Install

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

. Last Updated: 07/27/2016

Business in Brief

Court Rules on Ford Strike



A Leningrad region court on Wednesday barred workers at Ford's plant near St. Petersburg holding a one-day strike from such actions for 20 days, company spokeswoman Yekaterina Kulinenko said, RIA-Novosti reported.

The court upheld Ford's demands to be given time to negotiate with union representatives on the minimum amount of labor to be carried out during the strike, the agency reported.

Kulineko also said the court would review another plea on Friday to determine whether the strikers acted illegally in failing to give Ford sufficient advance warning of their action, RIA-Novosti reported. (MT)




Dockworkers Halt Strike



Dockworkers at the Black Sea port of Tuapse agreed to halt their strike after a Krasnodar regional court ruled Wednesday that the action was illegal, Interfax reported.

"The port workers taking part in the strike are law-abiding, which is why the strike has been interrupted," union representatives at the port said in a statement, the agency reported.

The court determined that the strike could threaten people's lives and health, and that the action should be postponed by 30 days, a Krasnodar regional union said, the agency reported. (MT)




Gazprom's Shanghai Listing



Gazprom may seek to list its shares on the Shanghai bourse, its first listing in Asia, a high-level Gazprom source said Wednesday, Interfax reported.

Gazprom has listings on top Russian bourses, while its Global Depository Receipts are listed on the London Stock Exchange and other European bourses. (Reuters)




Lenta Raises $300M Loan



LONDON -- Lenta, the country's third-largest food retailer, raised 200 million euros ($294 million) of loans to buy new stores and refinance existing debt. ABN Amro Holding, Commerzbank and Raiffeisen Zentralbank Oesterreich arranged the three-year debt, the banks said in a statement Wednesday. (Bloomberg)




Saudis Buy 150 Choppers



Saudi Arabia will buy 150 military and transportation helicopters from Russia worth $2.2 billion, U.S. weekly magazine Defense News reported, citing sources.

The consignment will include Mi-35 attack helicopters and Mi-8 and Mi-16 transportation helicopters, the newspaper said. The deal was agreed upon during President Vladimir Putin's visit to the Middle Eastern country in February, the magazine reported. (MT)




Gazprom Eyes BP Stations



Gazprom is eyeing BP's Polish gas station network as part of a planned joint venture, newspaper RBK Daily said Wednesday.

Gazprom is in talks to acquire 300 filling stations from the British oil major in Poland as the companies form a global venture agreed on in June, the newspaper said, citing an unidentified employee at Gazprom. (Bloomberg)




Gazprom to Trade Oil, Coal



LONDON -- Gazprom Marketing & Trading, the London-based trading unit of the world's biggest gas company, plans to start trading oil and coal.

"Gazprom will shortly start trading oil as well as coal," Katarina Johnsson, an originator at Gazprom, said at a conference Wednesday.

The company will soon start trading gas at the BEB hub in Germany and will also begin trading power in the Netherlands next year. (Bloomberg)




Kinross Boosts Reserves



Kinross Gold, a Canadian gold producer with two mines in Russia, increased the silver reserves at its Julietta mine by 15 tons, the Natural Resources Ministry said Wednesday in a statement.

Fifteen tons is equal to about 482,300 troy ounces. Kinross' share of Julietta's proven and probable silver reserves is 1.02 million ounces, according to the company's web site. (Bloomberg)




Fewer Russians to Britain



The British government's introduction of biometric visas could cut the number of Russian tourists visiting the country by 30 to 40 percent, Russian Union of Travel Industry spokeswoman Irina Tyurina said, Interfax reported Wednesday.

Starting Thursday, Russian visa applicants from age 5 will need to go to British Embassy visa processing centers in person for a fingerprint scan and a digital photo, the agency reported. (MT)




BBH Q3 Profit Rises 18%



LONDON -- Baltic Beverages Holdings, the Russian brewing venture whose owners are battling each other for control, said Wednesday that third-quarter profit gained 18 percent.

Earnings before interest and taxes climbed to 232 million euros ($336 million) in the three months through September, according to Edinburgh-based Scottish & Newcastle, which jointly owns BBH with Denmark's Carlsberg. (Bloomberg)