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. Last Updated: 07/27/2016

Business in Brief

Blue Wings License Reissued



The German government has returned a license to fly to Blue Wings airline, owned by Alexander Lebedev's National Reserve Corporation, Lebedev wrote on his blog Monday.

The carrier's license was rejected at the end of March by German regulators, who cited the firm's "business problems."

The regulator confirmed the license reinstatement Monday, saying it was again entitled to transport people or cargo.

Lebedev has offered to sell a 49 percent stake in Blue Wings to Aeroflot for 1 euro, an offer that Aeroflot is now considering. Lebedev wrote on his blog that it would be "cool" if Aeroflot agreed.

Lebedev also said the airline intends to open new routes from DЯsseldorf to several major Russian cities. (MT)




Spain Calls Ban Unjustified



Spain on Monday said Russia's pork import ban was unjustified because eating pork did not spread a deadly flu virus and that the government had been working on a diplomatic solution.

"Closing borders to pork can at no time be justified due to the flu, which as we know has changed its name so as not to confuse consumers," Environment and Rural Affairs Minister Elena Espinosa said in recorded comments. (Reuters)




Sistema Up on Possible Sale



Sistema gained the most in five months in Moscow trading after saying it may sell its stake in Comstar United TeleSystems to Mobile TeleSystems.

Sistema jumped 16 percent on the MICEX Stock Exchange, the biggest gain since Nov. 27. Sistema will decide on a potential purchase of Comstar, a Russian phone and Internet company that it controls, by Mobile TeleSystems by the end of the second quarter, Sistema CEO Leonid Melamed said April 29. Mobile TeleSystems, known as MTS, is also controlled by Sistema. (Bloomberg)




Evraz Pledged Loan to Plant



Evraz Group pledged plants in Canada and Siberia to borrow $1.8 billion from the VEB to refinance foreign loans, according to its annual report.

Evraz in November used 100 percent of its shares in Zapadno-Sibirsky Metallurgichesky to secure a $1 billion loan from Vneshekonombank, or VEB, the steelmaker said in its annual report, published on its web site on April 30.

The steelmaker, part-owned by billionaire Roman Abramovich, also pledged almost 100 percent of Evraz NA Canada, formerly known as Ipsco, and the unit's property, to secure $800 million from VEB on Dec. 10, according to the report.(Bloomberg)

For the Record

Mechel named Alexei Ivanushkin as the head of its ferroalloy division and eliminated the position of chief operating officer, the firm said Monday in an e-mailed statement. (Bloomberg)




Polyus Gold said it ordered the project design for a processing plant at the far eastern Natalka deposit, the world's third-largest, the company said in a statement on its web site Monday.



(Bloomberg)

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