Govt support, economic growth to help Russian car market expand 25% in 2011
The Russian car market will grow by about a quarter in 2011 supported by government funds and economic recovery, analysts say.
Things to consider when taking a mortgage in Russia
What are the main issues Russians should consider before taking a mortgage?
TNK-BP`s response to BP`s misleading press statements
Below is TNK-BP`s management response to inaccurate and misleading statements issued by BP Plc yesterday in relation to the TNK-BP Board meeting held in Paris on March 12.
Medvedev urges audit of Sochi Olympics spending
On Tuesday, President Dmitry Medvedev ordered an investigation into overpricing practices at 2014 Winter Olympic construction projects.
The earthquake tsunami impact and global markets
For Japan its obviously going to be a very severe shock. You can see from the pictures that there is obviously going to be a lot of damage and disruption, particularly the warnings of power shortages. That could obviously extend the consequences across the broader part of the country and that is where the real effect will be. So its still very early and nobody, frankly, has any great idea to the extent of the damage or how long last it will be, or even the cost of rebuilding. So you can see that in the stock market behaviour this morning. People are just holding fire, waiting to see what happens next, particularly waiting to see if there is any follow up or any further events or any deterioration of the nuclear plants. But short term, we are going to see a big slow down, that`s inevitable, and then it`s a question of how quickly the country can start rebuilding and that, in terms of sequence, short term reaction will be very negative. Rebuilding on such a massive scale of course
TNK-BP board fails to approve management`s Rosneft recommendation
The TNK-BP Board of Directors extraordinary meeting was held today in Paris. The only item on the Board`s agenda was a vote on the TNK-BP management`s proposal for the Company to participate in the Arctic exploration project and a share swap and with Rosneft instead of BP.
Moscow to spend $12.8bn on development in 2011
Some 25% of Moscow`s 2011 budget will be spent on infrastructure projects, a deputy mayor of the Russian capital, Vladimir Resin, said.
Balancing inflation and the rouble
The move by Russia`s central bank to lift the refinancing rate at its last meeting brought economic focus back to inflation, with crude and commodity prices, the rouble, and the economic recovery all factors to be balanced in the response.
Baltika Breweries 2010 net profit down 18%
Net profit for Russia`s Baltika Breweries, which belongs to Carlsberg Group, fell 18% in 2010 to 19.171 billion rubles ($654 million) to IFRS, Baltika said on Monday.
Russia cannot raise taxes for fear of slower growth
Russia cannot afford to raise taxes for two to three years or it will face slower economic growth and a low level of modernization, Finance Minister Alexei Kudrin said on Monday.
Results of TNK-BP`s Board of Directors meeting
Moscow, February 18, 2011. - The Board of Directors of TNK-BP Limited, the main holding company of TNK-BP group, met on 18 February, 2011 to review the company`s performance in 2010 and plans for 2011. TNK-BP will report its annual US GAAP audited financial statements for 2010 on 1 March, 2011.
Russian industrial output may reach pre-crisis level
Russian industrial output may reach the pre-crisis level at the end of 2011 or the beginning of 2012, Finance Minister Alexei Kudrin said on Friday.
Pharmstandard 2010 revenue rises 23.3%
Pharmstandard, a leading Russian pharmaceuticals company, saw revenue grow by 23.3% in 2010 to 29.719 billion rubles ($1.007 billion) to IFRS, the company said on Tuesday.
Post Traumatic Stress Disorder: Neuro-Biotech Addresses a Focused Approach
BASEL, Switzerland, February 8, 2011 / CNW Telbec / -- Neuro-Biotech Corporation (PINKSHEET: MRES) (OTCQB: MRES), having recently signed a Business Development Agreement with Russian based Credo-TM, who in turn had just finished negotiations for 1,000,000 Post Traumatic Stress Disorder (PTSD) test with their nation▓s military forces to help with early detection of PTSD which is an ongoing concern for worldwide military forces.
Uralkali, Silvinit shareholders approve merger
Shareholders of two Russian major fertilizer producers, Uralkali and Silvinit, have approved their merger to create one of the world`s largest potash producers by May 2011, Uralkali said on Monday.
Alrosa to hold IPO by late 2011
Alrosa, Russia`s state diamond monopoly will be ready to hold an initial public offering by late 2011 for a 20% stake in the company worth up to $2 billion, Alrosa President Fyodor Andreyev said on Wednesday.
Neuro-Biotech Pursues the Implementation of its Licensees Network and Signs a LOI with Israel
BASEL, Switzerland, Jan. 25, 2011 - CNW TELBEC - Neuro-Biotech Corp. ( MRES-OTцQB) is pleased to announce the signing of a Letter of Intent with a major distributor in Israel. Both groups are discussing the details of a Licensing Agreement based on similar terms and conditions as the recently negotiated agreement with the Russian company Credo-TM.
State companies should boost hi-tech investment
Russian state-run companies should increase investment in hi-tech technologies and step up cooperation with the scientific research sector, a presidential aide said on Friday.
State not to interfere in TNK-BP conflict
The Russian government will not interfere in a conflict between BP, which has recently struck a $16 billion deal with the country`s top oil firm Rosneft, and its local joint venture TNK-BP, which claims that the deal broke a shareholder agreement between the partners, Dmitry Peskov, a spokesman for Prime Minister Vladimir Putin said on Friday.
Credo-TM Purchased a 10 years 275 M USD Master Licensing Agreement Featuring a Revolutionary Neuro Science Technology for the Russian Market
Credo-TM Corporation proudly announces that it has signed an agreement with Neuro-Biotech Corp (OTCQB-MRES) a corporation with a strong expertise in the neuro science field. The agreement provides that Credo-TM Corporation acquires the exclusive rights to distribute all the licensed blood tests and Neuroceuticals? in Russia, Belarus, Ukraine and Kazakhstan. Moreover Credo-TM Corporation will receive all the knowhow for the analysis of the blood tests as well as the right to participate in all new research.
Russia may have to maintain budget deficit until 2030
Russia`s economy cannot be modernized if the government sticks to its target of having a balanced budget in 2015, Rossiyskaya Gazeta newspaper quoted Deputy Economic Development Minister Andrei Klepach as saying on Tuesday.
Investor pool may buy News Outdoor Russia for $300-400 mln in Feb
A pool of investors, including VTB Capital, the investment banking arm of Russia`s number two lender VTB, Alfa Capital Partners managing company, owned by country`s financial-industrial conglomerate Alfa Group and Russian Media Ventures fund (RMV), may buy top advertising operator News Outdoor for $300-400 million in February, Kommersant business daily said on Friday, quoting sources close to the pool.
TNK-BP Increased Fuel Trading by 24% in Q4 2010
In October-December 2010 TNK-BP sold 548k tons of petroleum products through exchange, which is 24% higher versus Q3 level.
Mitsui buys 14.9% of Russia`s Qiwi payment system
Japan`s Mitsui has acquired 14.9% of Russia`s Qiwi Ltd., which manages the country`s largest payment system, Mitsui said on Tuesday.
Germany did not export contaminated food products
The German agriculture ministry said it had not exported products believed to be contaminated with dioxins, Russia`s chief sanitary doctor Gennady Onishchenko said.