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.
Nearly all nuclear fuel now delivered by Russia to Iran: report
Russia delivered the seventh out of eight consignments of fuel for Iran`s first nuclear power plant in the Gulf port of Bushehr on Saturday, the official IRNA news agency reported.
Expert: World economic crisis may influence on Russia`s export majors
The current turmoil in the global financial markets may impair development opportunities for Russia`s major exporters of raw materials, the president of the Russian Union of Industrialists and Entrepreneurs said on Thursday.
French bank finds $7.14 billion fraud
French bank Societe Generale said Thursday it has uncovered a $7.14 billion fraud - one of history`s biggest - by a single futures trader who fooled investors and overstepped his authority.
China Oilfield bid to enter Russia fails
Russia has rejected a bid by China Oilfield Services Ltd to buy a unit of TNK-BP, smothering what would have been the Chinese firm`s first acquisition abroad at the final hurdle and sending its shares 12 percent lower.
Russia`s VTB Bank Sees Growth,Profitability Continuing
Liquidity at Russia`s VTB Bank is "very good" and the bank sees growth and profitability continuing, said Chief Executive Andrei Kostin in an interview with financial broadcaster CNBC at the World Economic Forum in Davos.
Russia`s MMK hikes 2007 crude steel output 6.5 pct
Russia`s Magnitogorsk Iron and Steel Works increased crude steel output 6.5 percent to 13.26 million tonnes in 2007 and said on Thursday it sold more products in its home market, where prices were higher.
Russia-China trade grew to record $48 bln in 2007
Russian-Chinese trade grew 44.3% year-on-year in 2007 to a record $48.16 billion, the Russian trade mission in China said on Thursday, citing China`s customs statistics.
New law lets Russia to tighten control over foreign officials` financial deals
Russia is tightening its control over financial transactions by foreign officials as a new version of the law on combating money laundering and the financing of terrorism comes into effect on January 15.
General Motors sales Russia grew nearly 100% in 2007
General Motors increased sales in Russia by almost 100% in 2007 to 258,835 vehicles, the U.S. company said in a statement.
Toyota opens first plant in Russia
Japan`s top automaker, Toyota Motor Corp, will open its first plant in Russia on Friday, aiming to produce 50,000 Camry sedans annually, the company said in a statement.
Russia, Kazakhstan, Turkmenistan sign Caspian pipeline accord
Russian President Vladimir Putin and Kazakh counterpart Nursultan Nazarbayev oversaw a major new deal on Thursday to build a natural gas pipeline from Turkmenistan to Russia via Kazakhstan.
Russia`s Wimm-Bill-Dann plans 11 bln rbl bonds
Russia`s top dairy produce firm, Wimm-Bill-Dann , said on Tuesday its board of directors had approved issuing five-year bonds worth a combined 11 billion roubles .
Russia`s oil exports grow
Russian oil exports amounted to about 199.383m tonnes in January-October, up 4.6 percent compared to the same period a year earlier, Russia`s Federal Customs Service (FTS) reported today.
Russia cbank sees no money market turbulence in 07
Russia`s money market will stay calm for the remainder of 2007 following the transfer of 180 billion roubles to the Bank of Development, a senior central bank`s official said on Tuesday.
Renault buys into Russia`s car boom with stake in Lada maker
Carlos Ghosn, Renault chief executive, has set his sights on dominating the booming Russian car market after agreeing to buy a quarter of Avtovaz, makers of the Lada, which used to rank as one of the world`s worst auto brands.