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. Last Updated: 07/27/2016

Business in Brief

Alcoa Will Supply UAC



CHICAGO -- Alcoa, the world's second-largest aluminum company, won an agreement to supply civil aircraft maker Unified Aircraft Corporation with metal and manufacturing technology for an undisclosed price, Alcoa said Wednesday.

Alcoa will provide UAC with proprietary alloys, heat-treated sheet and plate and forgings from its Samara and Belaya Kaltiva plants about 1,000 kilometers from Moscow, Alcoa said. (Bloomberg)




UES Wants China Exports



Unified Energy System wants to invest 2.75 billion rubles ($107 million) it earned selling shares to develop energy exports to China, Kommersant reported Wednesday, citing unidentified strategy committee members.

UES will invest the rest of the proceeds from the sale of a 25 percent stake in its power generator OGK-5 to Italy's Enel in its grid and hydropower units and its own reorganization, Kommersant said. (Bloomberg)




Dixy Profit Rises Only 3%



Dixy Group, the supermarket chain founded by millionaire Oleg Leonov, said Wednesday that first-half profit rose 3 percent, crimped by increased borrowing costs.

Net income climbed to 65 million rubles ($2.5 million) from 63 million rubles a year earlier, the company said in a statement. Sales climbed 35 percent to 17 billion rubles as the retailer opened more stores. (Bloomberg)




ATS to Unify Prices



ATS, the country's exchange for day-ahead electricity sales, will unify prices for the Siberian and European parts of the country from Dec. 2, ATS chairman Dmitry Ponomarev told Vedomosti in an interview published Wednesday.

Electricity trading in the country is split between the two zones to reflect the different costs of production. Siberia mostly generates hydropower, while plants west of the Urals mountains generally run on natural gas, coal and fuel oil.

The average price for 1 megawatt-hour of power is 582 rubles ($22.53) in European Russia and 324 rubles in Siberia, the newspaper said. (Bloomberg)




RusAl Restarts Jamaica Plant



United Company RusAl, the world's largest aluminum producer, said it restarted production at its Jamaican refineries after shutting them down before Hurricane Dean swept over the island.

Operations at Windalco and Alpart alumina refineries resumed Wednesday, RusAl said in a statement. The facilities remain "undamaged," the company said. (Bloomberg)




Cetelem Opens in 5 Cities



Cetelem, the consumer finance unit of BNP Paribas, started lending to Russian consumers in five cities, BNP Paribas's Russian unit said in a statement Tuesday.

Cetelem began lending directly to customers at shopping centers and car dealerships in Moscow, St. Petersburg, Yekaterinburg, Krasnodar and Nizhny Novgorod, the statement said. (Bloomberg)




Shell, Alyans Create Venture



Shell International Petroleum, a unit of Shell, created a joint venture with Russian refining company Alyans Group to run a network of about 150 Shell fuel stations in Ukraine, Shell said in a statement Wednesday.

Shell owns 51 percent of the venture, which started operating Tuesday, and Alyans owns the rest, Shell said. (Bloomberg)




Polish Gas Firm Seeks Oil



WARSAW -- Polskie Gornictwo Naftowe i Gazownictwo, Poland's gas monopoly, will search for oil and gas for another Polish fuel company, Petrolinvest, the Gazeta Prawna newspaper reported Wednesday.

Polskie Gornictwo will start work at Petrolinvest's Kazakh deposits in September, said Agnieszka Siola, spokeswoman of the company's unit PGNiG Krakow, the newspaper reported. (Bloomberg)




Chinese to Buy Russian Coal



SHANGHAI -- China's southern province of Guangdong is in talks to buy coal from North Korea and Russia, Interfax reported Wednesday, citing information from a trading center.

The Guangzhou-based South China Coal Trading Center imported 29,000 tons of coal from the Philippines this week, making the Southeast Asian nation the largest exporter of the fuel to Guangdong after Indonesia and Vietnam, the report said, citing the coal center. (Bloomberg)




Gazprom Neft Mulls Retail



Gazprom's oil unit said Wednesday that it planned to build gas station chains in Kazakhstan and Tajikistan to tap growing fuel demand in Central Asia.

Gazprom Neft set up Kazakh and Tajik units in June that are distributing oil products from its Omsk refinery in western Siberia, the firm said. (Bloomberg)