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. Last Updated: 07/27/2016

Business in Brief

Aeroflot Gets Discount

Aeroflot won discounts of about one-third from Airbus and Boeing on multibillion-dollar aircraft orders, Aeroflot CEO Valery Okulov said Wednesday.

Aeroflot received reductions of "at least 30 percent" from both manufacturers' catalog prices, Okulov said. The state-run carrier's shareholders Tuesday approved the purchase of 22 Airbus A350 models and 22 Boeing 787 Dreamliners, he said. (Bloomberg)

Oil Product Exports Down

ST. PETERSBURG -- Oil products exports from St. Petersburg port are expected to fall slightly in September compared with August, traders and port officials said Wednesday.

Traders said total loadings from the port might fall to around 1.47 million tons after 1.53 million tons in August.

"These are ordinary fluctuations," a port official said. (Reuters)

Services Index Up Again

An index of Russian service industries, including telecommunications, banking, restaurants and hotels, rose in August to the highest level since January, suggesting booming consumer demand, VTB Bank Europe said Wednesday.

VTB Bank Europe's Services Purchasing Managers' Index rose to 58 from 57.1 in the previous month, the bank said. A figure above 50 indicates growth, below 50 a contraction. (Bloomberg)

Monthly Inflation at 0.1%

Consumer prices will rise this month as much as they did in September last year, an Economic Development and Trade Ministry official said Wednesday.

Inflation was 0.1 percent in September 2006.

"We do not expect inflation to speed up in September. We expect it at last year's level," Andrei Klepach, head of the ministry's macroeconomic department, told reporters. (Reuters)

Swedbank Cleared

STOCKHOLM -- Sweden's fourth-biggest bank by market value, Swedbank, said Wednesday that the Russian Central Bank had given approval for it to resume operations in Russia at full scale.

Swedbank said in a statement that it had taken measures required by the Central Bank and that it was ready to resume operations.

"Our long-term strategy has not changed, and we consider Russia an important growth market for Swedbank Group," it said. (Reuters)

Urals Forecast Raised

The Economic Development and Trade Ministry will raise its 2007 forecast for the average price of Urals crude from $55 to at least $64 per barrel, said Andrei Klepach, director of the ministry's macroeconomic forecasting department, Interfax reported Wednesday.

Klepach said the Urals crude forecast for 2008 would also be raised, improving the outlook for economic growth, the news service said. (Bloomberg)

Tourism Boom Flagged

The tourist industry has generated $29.5 billion so far this year, of which $14.7 billion came from internal tourism, Russian Tourism Association president Anatoly Yarochkin said Wednesday, Interfax reported.

"The active tourist season for 2007 is coming to an end. We have noted a significant increase in growth in the foreign and domestic tourist industry. By some estimates, the increase has been between 10 percent and 15 percent," said Yarochkin, who is also deputy head of the Federal Tourism Agency. "For example, 25 percent more Russians visited Spain in the summer months than [in the same period] last year." (MT)

Usmanov Buys Cartoons

Metals tycoon Alisher Usmanov has bought the rights to 300 hours of Soviet cartoons from U.S. film distribution company Films By Jove and donated them to recently created children's television station Bibigon, the billionaire's press office said, Interfax reported Wednesday.

Copyrights to the films have been the subject of a long-running legal dispute between the U.S. firm, set up by actor Oleg Vidov and his wife Joan Borsten, and Russian animated film studio Soyuzmultfilm. (MT)

1,000 Rubles Most Forged

The most forged banknote in the second quarter of this year was the 1,000 ruble note, while not a single fake 5,000 ruble bill was found, the Central Bank said, Prime-Tass news agency reported Wednesday.

In the period, 23,436 fake 1,000 ruble notes were identified, the agency said. Other forgeries included 771 units of 500 ruble notes, 716 units of 100 ruble notes, 193 units of 50 ruble notes and 44 units of 10 ruble notes, Prime-Tass said. Also, 106 cases of fake 5 ruble coins were reported, the agency said. (MT)

EGAIS Firm Goes Unpaid

The firm in charge of developing an automated alcohol monitoring system, known as EGAIS, said it had not been reimbursed for the services it had provided to date, Kommersant reported Wednesday.

Anatoly Beskorovainy, an assistant to Atlas research center's general director, said the firm began work on the system in 2005 but had not yet received payment from the Federal Tax Service.

On Aug. 23, Deputy Prime Minister Alexander Zhukov said the government decided to postpone the deadline for the implementation of EGAIS from the initially planned date of Nov. 1. (MT)

Vekselberg Gets TGK-9 Nod

Billionaire Viktor Vekselberg's power holding company gained Federal Anti-Monopoly Service approval to buy the rest of power generator TGK-9 when it sells shares this year, Anna Chin-Go-pin, a spokeswoman for Vekselberg's holding company, said Wednesday.

Integrated Energy Systems, which already owns 30 percent of the generator, plans to bid by the end of the month for new shares in TGK-9 to gain a controlling stake, the spokeswoman said. (Bloomberg)

Scania Ups Russia Outlook

SODERTALJE, Sweden -- Swedish truck maker Scania said Wednesday that it had raised its market outlook for heavy trucks in Europe and Russia but did not give a specific forecast.

"[The outlook] is not specifically for this year, but in a longer perspective," said Scania spokeswoman Cecilia Edstrom, referring to a presentation by Scania CEO Leif Ostling planned for later Wednesday. (Reuters)

Coking Coal to Rise 9.5%

LONDON -- Russian semi-hard coking coal, used by steelmakers such as Severstal, the country's largest, will cost 9.5 percent more next year because domestic supplies will not match demand, Credit Suisse Group said Wednesday.

The coal will sell for $81 per ton in 2008, compared with $74 this year, Moscow-based analysts Semyon Mironov and Alexei Churakov wrote in a report. Prices may drop to $70 in 2009 and $65 the following year. (Bloomberg)