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. Last Updated: 07/27/2016

Business in Brief

Ukraine Still On for Union



The Ukrainian Agriculture Ministry denied on Thursday that it wanted to withdraw from negotiations on a grain union with Russia and Kazakhstan.

The Ukrainian daily Delo reported Thursday that the country would refuse to take part in the union, citing Vladimir Klimenko, head of the Ukrainian Grain Association. Klimenko was unavailable for comment Thursday.

Russia, Kazakhstan and Ukraine announced earlier this month that they would establish a grain pool to be more competitive on the world market. (MT)




Mt. Gazprom, With Logo



Altai lawmakers plan to name a mountain after Gazprom and place the company's logo on its slopes, RIA-Novosti reported Thursday.

The initiative to name the 3,412-meter peak, the highest in the Kurai range, after the gas giant is the brainchild of Altai Governor Alexander Berdnikov, the report said. "The request will be sent to Russia's main geodesy and cartography department," Altai lawmakers said in a statement. Mountain climbers are expected to install Gazprom's logo on the mountain this summer. (MT)




Lamborghini Gives Notice



PARIS -- Lamborghini has given notice to Mercury, Russia's biggest luxury group, that it will end their partnership because it is not satisfied with its services and sales performance, the Italian sports car maker said.

Mercury, which has been working with Lamborghini for more than four years, said it was trying to find solutions with the Italian company and stressed that the financial crisis was more to blame for low sales than its strategy as a car dealer. (Reuters)




MTS Can Buy Comstar



The Federal Anti-Monopoly Service has cleared Mobile TeleSystems to take over Comstar, a spokeswoman for the service said Thursday.

The parent company of both carriers, the conglomerate Sistema, has indicated that a takeover is not likely to happen quickly and the mechanics have not been worked out yet. MTS applied for permission to buy 100 percent of Comstar but Sistema's chief executive has said there was no decision on buying out minorities, though he said full control would be ideal. (Reuters)




Renova Arm Can Buy Sulzer



BRUSSELS -- A Bahamian subsidiary of Renova Group won permission from the European Commission on Thursday to acquire Swiss engineering company Sulzer.

The commission said in a statement that the proposed transaction "would not significantly impede effective competition." (Reuters)




For the Record



Moscow Bank for Reconstruction and Development, the lending unit of Sistema, sold 5 billion rubles ($160 million) of bonds, the lender said in a regulatory filing Thursday. (Bloomberg)

The European Bank for Reconstruction and Development sold 3 billion rubles ($96 million) of five-year bonds to finance Russian lending, the bank said Thursday in an e-mailed statement. (Bloomberg)

MegaFon posted a 20.2 percent increase in net profit to 11.13 billion rubles ($357.6 million) in the first quarter, the company said Thursday. (Reuters)