BP`s rivals shift in Russian tussle
The fate of the second biggest foreign investment in Russia hangs in the balance amid signs of a shifting mood in the Kremlin which may have wrong-footed investors and one of the world`s biggest oil companies.
Russia accuses BP of breaking labour laws
BP`s unhappy joint venture in Russia, TNK-BP, was in trouble again yesterday when prosecutors said the company had violated local labour laws.
Kerimov`s Polymetal is sold to three investors
Suleiman Kerimov, Russia`s eighth-richest man, sold 68 percent of precious metals miner Polymetal in a $2 billion deal transferring ownership to two Russian businessmen and Czech investment firm PPF Group.
Russia-China trade up 44% last year
Trade between Russia and China increased 44%, year-on-year, in 2007 to $48.2 billion, a Chinese government official said on Sunday.
Russia `to quiz BP Moscow chief`
The head of BP`s oil venture in Russia is to be quizzed by Moscow as part of a tax evasion probe, reports say.
Russia EconMin keeps inflation fcast on cheap grain
Russia`s economy ministry hopes to keep inflation within its 10.5 percent target this year due to falling domestic grain prices, a senior ministry official told Reuters on Tuesday.
Oil prices advance as pump prices rise to new high
Oil futures crept higher as retail gas and diesel prices pushed to new records Monday, adding to the pressure on drivers planning roadtrips for the coming holiday weekend.
Oil steady after record near $124, with bulls in control
ustria - Oil prices held steady Thursday after jumping to a record near $124 a barrel in the previous session, as investors captivated by upward momentum seemed to ignore indications of growing U.S. crude and gasoline supplies.
Russia gasoline tax seen negative for oil industry
A Russian government plan to differentiate gasoline excise taxes based on fuel quality will raise the tax burden for the country`s oil companies, benefiting only a few firms owning sophisticated refineries, analysts said.
Russia stocks are cheapest in Europe on higher inflation
Russia`s stock market is telling Dmitry Medvedev that investors are losing confidence as inflation accelerates and taxes curb profits at the nation`s biggest oil producers.
Russia`s TNK-BP wins $408 mln tax refund case
A Moscow arbitration court on Tuesday upheld a lower court ruling to refund BP`s Russian venture, TNK-BP, 9.7 billion roubles ($408.2 million) it paid as value added tax in 2006, the firm said on Tuesday.
Oil soars to record above $117
Crude oil prices surged above $117, setting a new record high on Monday because of worries of supply disruptions from major producers and comments by OPEC reiterating there is no need to raise output.
Abramovich no longer Russia`s richest as metal tycoons top list
Roman Abramovich has lost his crown as Russia`s richest man despite adding ё2.8billion to his fortune in the past year.
Microsoft evaluating Yahoo bid
Microsoft Corp is evaluating its bid for Yahoo Inc because the Internet company may have lost value since Microsoft made its offer, people familiar with the matter said on Friday.
Russia, Singapore business forum opens to foster closer ties
Singapore`s Trade and Industry Minister Lim Hng Kiang Tuesday urged businessmen from Singapore and Russia to extend cooperation in infrastructure development and the retail sector.
Hyundai Merchant Marine Sets Up Units in Russia
Hyundai Merchant Marine Co. said Tuesday it has set up wholly owned overseas units in Russia and Dubai in a move to expand into the oil-rich countries.
Stocks pull back on Bear Stearns deal
Stock prices Monday as Wall Street and other global markets reacted to JPMorgan Chase & Co.`s government-backed buyout of the stricken investment bank Bear Stearns Cos.
Russia`s steel giant MMK`s net profit up 24% in 2007
The Magnitogorsk Iron and Steel Works (MMK) said on Monday its US GAAP net consolidated income increased 24%, year-on-year, in 2007 to $1.7 billion.
Russia`s Development Bank to buy Inter RAO stake
Russia`s Development Bank will buy the entire share issue of electricity import-export firm Inter RAO for 20 billion roubles , taking a stake of more than 25 percent, its head said on Monday.
Pepsi to buy bottling firm in Siberia
Pepsi Bottling Group Inc and PepsiCo Inc said on Monday they have agreed to acquire Sobol-Aqua JSC, a privately held Russian bottling company.
Russia warns of more gas cuts to Ukraine
Russia`s natural gas monopoly Gazprom on Tuesday threatened to further cut gas to Ukraine within hours unless agreement was reached on a debt dispute and contracts for future deliveries.
Russia`s refineries plan heavy spring maintenance
Russia`s refiners are planning heavy maintenance on crude units at several plants in Russia, which are key to both export volumes and domestic fuel supply, a survey of trade, industry and regulatory sources said on Thursday.
Russia delivers 12 MiG-29 Fulcrum fighters to Slovakia
Russia`s MiG aircraft manufacturer will transfer on Friday 12 MiG-29 Fulcrum fighters, modernized in line with NATO standards, to the Slovak Air Force, a company spokesperson said.
Russia, Hungary sign "South stream" pipeline deal
Russia scored another victory Thursday in its push to tighten domination of European energy supplies, signing a landmark deal with Hungary for a new natural gas pipeline.
Russia`s Central Bank bear losses because of U.S. mortgage
Russia`s Central Bank admitted Thursday having U.S. subprime mortgage bonds in its investment portfolio and said it had suffered losses following last November`s credit crunch.