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. Last Updated: 07/27/2016

Business in Brief

Transaero Plans U.S. Flights



Transaero, a closely held airline that plans to sell shares in 2008, will start direct daily flights to New York and Los Angeles from Moscow next year as it expands its international route network.

"The company is developing, and we think we can offer a competitive product," Transaero spokesman Sergei Bykhal said. (Bloomberg)




Rosneft Gas Station Growth



Rosneft expanded its chain of Moscow gas stations after buying Cyprus-based Oxoil, Interfax reported Monday, citing an unidentified Rosneft official.

State-run Rosneft paid $42 million for Oxoil, which owns 51.45 percent of Parkoil, the service said, citing the official. Parkoil owns 14 gas stations and other assets in Moscow and around the capital, Interfax said.

Rosneft first entered the retail fuel market when it acquired 15 gas stations belonging to bankrupt oil company Yukos, Interfax said. (Bloomberg)




Gazprom Ups Turkish Gas



Gazprom said Monday it would increase gas deliveries to Turkey by 50 percent until Iranian supplies are restored.

A large explosion on a pipeline late Sunday brought the flow of natural gas from Iran to Turkey to a standstill.

The cause of the blast was not immediately known, but officials said they hoped to resume gas flows by Tuesday. (Reuters)




Gazprom Eyed Dow Jones



LONDON -- Gazprom considered making a rival offer for Dow Jones to outbid News Corp., the Times of London reported Monday, citing an unidentified source.

Dow Jones, which agreed last month to be bought by News Corp. for $5.2 billion, received several other solicited and unsolicited approaches from unidentified parties, the newspaper said, citing a regulatory filing with the U.S. Securities and Exchange Commission.

One of the approaches was from "an international oil and gas company," the newspaper quoted the filing as saying. No specific proposal was made, the newspaper said. (Bloomberg)




RusAl Explores Venezuela



United Company RusAl, the world's largest aluminium producer, has signed a deal with Venezuela's state mining company to explore bauxite, alumina and aluminium projects in the country, the company said in a statement Monday.

RusAl and Corporacion Venezolana de Guayana signed a letter of intent that will involve completion of a preliminary financial and technical assessment by the end of this year, the company said.

"If the evaluation of the project's potential proves positive, the parties will embark on joint realization of the program," RusAl said. (Reuters)




Mosenergo Net Loss Down



Moscow utility Mosenergo said Monday that its first-half net loss narrowed 26 percent to 502 million rubles ($19.6 million).

It said revenues, calculated to unaudited international accounting standards, rose slightly to 39.5 billion rubles from 39 billion rubles in the first six months of 2006.

Mosenergo, controlled by Gazprom, has 17 power stations with total installed capacity of 10,600 megawatts, which supply electricity to customers in Moscow and surrounding areas. (Reuters)




Kalina Says Net Fell 13%



Kalina, a perfume and cosmetics maker, said Monday that first-half profit fell 13.4 percent as sales declined.

Net income fell to 362 million rubles ($14 million) from 419 million rubles a year ago, the company said in a statement. Sales dropped 1.5 percent to 4.9 billion rubles.

The company reported earnings in accordance with international standards. (Bloomberg)




Alfa May Bid for Migros



ISTANBUL -- Billionaire Mikhail Fridman's Alfa Group plans to bid for Turkish supermarket chain Migros Turk, Sabah newspaper said Monday, citing unidentified sources.

Alfa began talks to buy Migros and its intentions are "very serious," the newspaper said, citing an unidentified executive at the company. Carrefour, Europe's largest retailer, may jointly bid for Migros through its venture in Turkey, its partner Haci Omer Sabanci Holding said in August. (Bloomberg)




Macquarie, VEB Venture



SYDNEY, Australia -- Macquarie Bank, Australia's largest investment bank, said Monday that it had agreed to a joint venture with Vnesheconombank to tap increasing investment in Russia.

The plan, which follows Macquarie's joint venture with Renaissance Capital last month, was signed in the presence of President Vladimir Putin at the Asia-Pacific Economic Cooperation meeting in Sydney last week, Macquarie said in a statement. (Bloomberg)




I-Free Targets China Market



I-Free, a Russian content provider, will offer mobile content to subscribers of China Mobile and China Unicom and aims to get 5 percent of China's market, Kommersant reported Monday, citing the company's head of international development, Nikolai Matveyev.

I-Free has signed an agreement with international provider Mobile 365 that allows it to offer content to 480 million subscribers of the two Chinese companies, the newspaper said. (Bloomberg)




PPF Gets Nomos Approval



PPF Group, the financial group of Czech billionaire Petr Kellner, received Federal Anti-Monopoly Service approval to buy Nomos Bank, Interfax reported Monday.

PPF was approved by the service to buy 100 percent of Nomos, the agency said, citing Andrei Bechtin, a spokesman for PPF.

PPF Russia's Home Credit & Finance Bank is the country's second-largest provider of consumer loans, Interfax said. (Bloomberg)




Kazakhs Consider Gas Pipe



Kazakhstan, the holder of the second-biggest natural gas reserves in the former Soviet Union, may build a pipeline across the Caspian Sea as it seeks new gas transit and export routes that bypass Russia, the executive director of state-owned KazMunaiGaz, Arman Darbayev, said Friday.

Kazakhstan is still considering "the project of the gas pipeline across the Caspian Sea," Darbayev said. (Bloomberg)




Petrolinvest Delays Buy



WARSAW -- Petrolinvest, the Polish oil company controlled by billionaire Ryszard Krauze, said Monday that it aimed to agree on the purchase of a Russian counterpart by November, later than previously planned.

Petrolinvest said in July that it planned to buy 50 percent of a Russian oil group for $100 million around Aug. 15 and get an option to buy the rest. (Bloomberg)