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. Last Updated: 07/27/2016

Business in Brief

Murdoch Buys Imedi



TBILISI, Georgia -- U.S.-based News Corp. has bought a Georgian opposition media company, the group's former majority owner, Georgian tycoon Badri Patarkatsishvili, told Interfax on Wednesday.

Patarkatsishvili -- who said this week that he would finance Georgian opposition parties -- confirmed that he had sold his 51 percent stake in Imedi holding to News Corp.

News Corp., run by media tycoon Rupert Murdoch, acquired a 49 percent stake in Imedi last year. (Reuters)




Gazprom Prices Eurobonds



Gazprom priced its three-year yen-denominated eurobond at mid-swaps plus 154 basis points and its five-year eurobond at mid-swaps plus 160 basis points, a market source said Wednesday.

Gazprom issued two tranches of 20 billion yen ($218 million) for its three-year bond and 30 billion yen for its five-year bond. (Reuters)




Avrasya Secures Supply Deal



Gazprom has signed a contract to supply Turkey's Avrasya Gaz with 500 million cubic meters of gas per year until 2021, Gazprom said Wednesday.

Exports to Turkey are expected to rise to 23 billion cubic meters this year from about 20 bcm in 2006. (Reuters)




Port Strike May Hit Coal



LONDON -- A threatened strike by workers at Sea Port of St. Petersburg would have a serious impact on coal exporters, Russian coal exporters said.

Port workers demanding increased pay have threatened to strike starting from Nov. 13, exporters said. (Reuters)




Halcyon Plans Fund IPO



Halcyon Advisors, a Cayman Island-based investment firm, plans to spin off a fund of Russian utility assets and sell $300 million of its shares in January or February, a source close to the company said Wednesday.

The fund's assets are currently worth $200 million and additional assets will be added ahead of the IPO. (Reuters)




CPI Up 1.6% in October



The consumer price index grew by 1.2 to 1.6 percent in October and by 8.8 to 9.1 percent in the first nine months of the year, the Economic Development and Trade Ministry said Wednesday.

The CPI grew by 0.8 percent in September and is set to overshoot the Cabinet's annual target of 8 percent. (Reuters)




GDP Growth Slows to 5.6%



Gross domestic product grew by 5.6 percent in September, year on year, compared with a revised August estimate of 6.3 percent, the Economic Development and Trade Ministry said Wednesday.

The ministry had earlier estimated August GDP growth at 6.4 percent and gave no reason for the revision. (Reuters)