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. Last Updated: 07/27/2016

Business in Brief

Deripaska Seeks Gas Assets

Oleg Deripaska may acquire Yakutgazprom, a gas producer in the republic of Sakha, Kommersant said Wednesday, citing unidentified people close to Sakha Governor Vyacheslav Shtyrov.

Deripaska may buy the company to then sell it on to Gazprom or develop it with the state-run gas company, the newspaper said. Yakutgazprom is owned by oil and mining businessman Ziyavudin Magomedov, 38, via holding company Slavia. (Bloomberg)

First-Half Imports Soar

Russia increased its imports from countries outside of the former Soviet Union in the first seven months of the year as economic expansion boosted incomes and spending, the Federal Customs Service said Wednesday.

Imports totaled $85.63 billion from January through July, a 50 percent increase from the year-earlier period, the Federal Customs Service said on its web site, citing preliminary calculations. (Bloomberg)

Foreign Cars Sales Boosted

Sales of foreign automobiles in Russia from January to July this year rose by 70 percent compared with the same period in 2006, the Russia affiliate of the Association of European Businesses said Wednesday in a statement.

In the first seven months of the year, 861,736 cars were sold, compared with the 516,151 units sold last year, the association said. (MT)

Disney Seeks Local Partners

Walt Disney Company is seeking partners to begin film-making in Russia, which it considers a key market, CEO Robert Iger told Vedomosti in an interview published Wednesday.

The company wants to make Disney a brand that feels local as opposed to foreign in every market, including in Russia, China, India and Latin America, Iger told the newspaper. (Bloomberg)

Baltika Reports Profit Jump

The country's leading brewer Baltika reported Wednesday a 29.7 percent jump in first-half net profit to 188.2 million euros ($259.6 million).

Baltika, which last year merged with three smaller Russian breweries, said synergy effects, as well as the fast-growing beer market, helped results amid higher distribution costs. (Reuters)

Telenor Seeks Kyivstar EGM

OSLO -- Norway's Telenor will request an extraordinary general shareholders' meeting in Ukrainian mobile phone operator Kyivstar, in which it is the majority owner, after New York arbitrators ruled in its favor last week in a dispute with co-owner Alfa Group.

Telenor owns 56.5 percent of the shares in Kyivstar, and Alfa's Storm unit owns 43.5 percent. The two companies have been locked in a long-running boardroom and courtroom battle over Kyivstar. (Reuters)

Sugar Import Tariff at $140

The government will keep the raw cane sugar import tariff at $140 per ton in September, unchanged for the past 23 months, the Economic Development and Trade Ministry said Wednesday.

The Russian Sugar Producers' Union, the industry lobby, is trying to persuade the government to introduce a seasonal tariff on imported raws $220 per ton in January to May and December 2008 to protect domestic beet growers and sugar refiners. (Reuters)

LUKoil Production Climbs

LUKoil said Wednesday that oil and natural gas production climbed 4.3 percent in the first half of the year.

Total hydrocarbon available for sale rose to 2.21 million barrels per day of oil equivalent, the company said in a statement. (Bloomberg)

Eni May Lose Kashagan

Eni, Italy's biggest oil company, may be replaced as the operator of the Kashagan oil development, Kazakh Prime Minister Karim Masimov said Wednesday.

The Kazakh government is "very disappointed" with the progress being made on the project, estimated to cost $136 billion, Masimov said, his spokeswoman Ainagul Shakirova reported. (Bloomberg)

Highland to Sell Chita Unit

Highland Gold Mining said Wednesday that it had agreed to sell its Darasun unit, based in the Chita region, to private mining company Yuzhuralzoloto for $25 million.

The agreement is subject to several conditions, including approval from the Federal Anti-Monopoly Service, Highland Gold said in a statement. (Reuters)

Turbine Firm Raises $275M

Turbine producer Power Machines said Tuesday that it raised 7 billion rubles ($275 million) from a share sale and will use the proceeds to expand capacity.

Power Machines sold 1.49 billion new shares at 4.69 rubles each, the company said Tuesday in a regulatory filing. (Bloomberg)