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. Last Updated: 07/27/2016

Business in Brief

Kerimov Picks Polyus Team



Billionaire Suleiman Kerimov's Nafta Moskva nominated six candidates for the board of Polyus Gold, the country's biggest producer of the precious metal, Polyus said Thursday in a statement on its web site.

Investors made 21 nominations in total for the nine-member board, including CEO Yevgeny Ivanov and four of its independent directors. The CEO and the independent directors all have board seats now. (Bloomberg)




Oerlikon Eyes Capital Boost



ZURICH -- Swiss technology group Oerlikon may make a capital increase in the second half of this year, after reporting a slump in first-quarter orders as it restructures key units.

Oerlikon CEO Uwe Krueger said he was confident that the debt-laden group would reach an agreement with banks in the coming weeks regarding its credit facility and that a capital hike could come later this year.

"We are thinking about such steps together with the shareholders and banks," Krueger said Thursday in an interview. (Reuters)




Kalina to Sell German Assets



Kalina, a Russian cosmetics maker, said it will sell industrial assets of its German brand Dr. Scheller in May as it aims to focus on marketing and local production of its brands.

The company said in January that it would sell assets in Eislingen, Germany, including production-related land, buildings and facilities, to Weckerle Cosmetics. Kalina, which would still control the Dr. Scheller brand, said it's planning to concentrate on promoting the label. (Bloomberg)




Reserves Gain $900M



Russia's international reserves rose for the first time in three weeks, advancing $900 million last week as the Central Bank bought foreign currency to stem the strengthening ruble, the bank said in an e-mailed statement Thursday.

The reserves stockpile rose to $384.8 billion in the week to April 17, after sliding $1.1 billion in the week to April 10 and $3 billion in the previous week. (Bloomberg)




RusAl Asks for Extension



United Company RusAl asked foreign banks to extend payments on its $7.4 billion of debt by 5 to 10 years, Interfax reported.

The terms of the debt restructuring may vary with each lender, Interfax said, citing an unidentified person in the banking industry and an unidentified person familiar with the situation. (Bloomberg)




For the Record



Aeroflot carried 1.78 million passengers in the first quarter, 13 percent fewer than in the year-earlier period, according to an e-mailed statement Thursday. (Bloomberg)

LUKoil will recommend a dividend of 50 rubles ($1.50) a share on 2008 earnings at a June 25 shareholders' meeting, the company said Thursday. (Bloomberg)

Uralkali said it paid the Perm regional government 2.3 billion rubles ($68 million) in compensation for a flood at its Mine 1 unit as part of 7.8 billion rubles in total costs that the potash producer plans to pay for the accident, according to an e-mailed statement Thursday. (Bloomberg)