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. Last Updated: 07/27/2016

Business in Brief

Usmanov's Sberbank Stake

Billionaire Alisher Usmanov bought $800 million in Sberbank stock at the bank's secondary offering last week, Vedomosti reported Monday, citing an unidentified person familiar with the results of the share sale.

Usmanov, co-owner of the Gazmetall holding, bought the stake using Credit Suisse's private-banking services, the paper said, citing the person. His $800 million investment has already returned $72 million because Sberbank's shares have risen more than 9 percent above the offer price of 89,000 rubles ($3,400), the paper reported. (Bloomberg)

Gazprom, Rosneft Bonds

Gazprom and Rosneft plan to raise as much as $5 billion in loans and bonds as investor demand for Russian assets spurs lower borrowing costs.

Gazprom this week will start selling a $2 billion loan to help finance its purchase of a controlling stake in the Sakhalin-2 oil and gas project. Rosneft is seeking as much as $2.5 billion to buy the assets of bankrupt oil firm Yukos. (Bloomberg)

Microsoft Case Appealed

Prosecutors in Perm appealed a court ruling Monday to drop copyright violation charges against a school principal who installed pirated Microsoft software on school computers.

Alexander Ponosov was charged with breaching copyright laws last year after he had purchased computers for his school containing unlicensed software. Ponosov could have faced a prison term of up to five years and a 266,000 ruble ($10,110) fine, but the case was dropped on Feb. 15 for lack of evidence. (MT)

Russian Price Growth

Consumer prices grew 0.5 percent in the first 19 days of February while inflation in January and February was expected at 2.6 percent, Economic Development and Trade Minister German Gref said Monday, news agencies reported.

Gref was also quoted as telling President Vladimir Putin that Russia's gross domestic product grew by 7.2 percent in year-on-year terms and by 0.2 percent month-on-month in January. (Reuters)

Disposable Income Growth

Real disposable income growth slowed in 2006 as consumer loan payments and expenses increased, the Economic Development and Trade Ministry said Monday.

Real disposable incomes grew 10.2 percent in 2006, down from 11.1 percent the previous year, the ministry said. Disposable income growth was dampened by expanding insurance and loan payments, taxes and other regular expenses, which grew 51.5 percent in nominal terms last year, it said. (Bloomberg)

Sukhoi to Sell Bonds

Sukhoi Civil Aircraft, a unit of fighter-jet maker Sukhoi Aviation Holding, plans to sell 5 billion rubles ($191 million) of bonds to fund the development of its Superjet passenger plane.

Sukhoi Civil Aircraft will place the 10-year bonds through an open subscription, the company said Monday on its web site. (Bloomberg)

Norilsk Profit Report

Norilsk Nickel may report profit of $5 billion for 2006, Interfax said Monday, citing company deputy director Tav Morgan.

The company may pay a dividend of $6 per share, Morgan said at a conference in Tampa, Florida, Interfax reported. (Bloomberg)

GAZ Denies Chrysler Bid

Automaker GAZ denied Monday a German magazine report that it might be interested in bidding for Chrysler, the U.S. arm of DaimlerChrysler, which may be put up for sale.

"We have no intention of acquiring the American assets of Chrysler," spokesman Vladimir Torin said when asked about the report in Germany's Focus news weekly. DaimlerChrysler CEO Dieter Zetsche has said he would consider all options for Chrysler, which has struggled since its merger with the German automaker back in 1998. (Reuters)

CEZ May Build Power Plant

WARSAW -- Central Europe's largest power company, CEZ, said Monday that it was considering building a new power plant in Skawina in southwest Poland at a cost of up to 1 billion euros ($1.31 billion).

CEO Martin Roman said CEZ was committed to investing in Poland's power market and had finances for as many as three large projects in the country. (Reuters)

Su-155 Construction Halted

Su-155 Group, one of Russia's three biggest construction companies, may not be able to build housing in southern Moscow after the outlying Moscow region claimed ownership rights to the land, Kommersant reported Monday.

An arbitration court in the Moscow region ruled that the land in question was designated for agricultural use and that it did not belong to City Hall, Kommersant said. (Bloomberg)

TriGranit to Invest $2.6Bln

TriGranit, a Hungarian real estate developer, will invest $2.6 billion in Poland over the next five years, the Parkiet newspaper reported, without citing anyone.

The company will start construction of an office building and a housing development this year, Parkiet said. The total value of the two projects is between $525 million and $660 million, the newspaper added. (Bloomberg)

Meinl Wins Istanbul Plot

VIENNA -- Austrian real estate developer Meinl European Land won a tender for a 90,000-square-meter land plot in Istanbul with a 100 million euro ($131 million) bid, it said Thursday.

Meinl, which last month raised 1.5 billion euros to help its rapid growth in Eastern Europe, Russia and Turkey, said it would spend another 100 million euros to develop a 50,000-square-meter shopping center on the plot. (Reuters)