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  • Vnesheconombank boosts net interest income 23% to 99 bln rubles in 2013 (Part 2)

    Vnesheconombank (VEB) boosted net interest income to International Financial Reporting Standards (IFRS) 23% last year to 98.97 billion rubles, the state development bank said in a report.

  • Lukoil to invest 30 bln rubles in Kalmykia in next two years

     Lukoil (MOEX: LKOH) plans to invest about 30 billion rubles in projects in Kalmykia over the next two years.

  • CB to quote ruble at 35.9287 rubles/$1 and 49.7289 rubles/EUR1 on April 18

     The Central Bank of Russia will quote the U.S. dollar at 35.9287 rubles/$1 on April 18, 0.42% down from the previous exchange rate.

    The Central Bank will quote the euro at 49.7289 rubles/EUR1, 0.31% down from the previous exchange rate, the bank's Foreign and Public Relations Department told Interfax.
    19 April 2014
  • Government to spend 44 bln rubles on exploration in five prospective zones

    The cost to operate at five prospective zones where the government is prepared to accept the risks of searching for hydrocarbons is estimated at 44.3 bln rubles, Sergei Natural Resources and Environment Minister Sergei Donskoi said in a presentation.

  • Russian GDP's 0.5% growth forecast moderately optimistic - finance ministry

     The macroeconomic forecast of the Russian Economic Development Ministry should be more conservative in order to reduce fiscal vulnerability, Russian Finance Minister Anton Siluanov said.

  • Banks have 1033.6 bln rbs on CBR correspondent accounts on April 15

     Russian banks have 1033.6 billion rubles on correspondent accounts in the Central Bank as of April 15 including 854.5 billion rubles for Moscow banks

    The balance on April 14 was 1055.7 billion rubles and 874.3 billion rubles, respectively.
    Banks had 76.6 billion rubles on deposit accounts in the Central Bank on April 15 against 77.1 billion rubles on previous day.
    19 April 2014
  • Alrosa demanding Evraz pay 1.5 bln rubles, plus interest for Timir

     Evraz, a Russian steel and coal group, did not manage to reach an agreement in time with Alrosa (MOEX: ALRS) on deferring fully payment of 2.97 billion rubles for shares in the Timir iron ore project until 2016, national daily Kommersant reported.

  • Kazakhmys confirms acquisition of Koksay copper deposit for $260 mln

    Kazakhmys plc hs concluded the agreement for the purchase of Koksay deposit in Kazakhstan's Almaty region from CCC Mining Construction B.V., an unrelated private company, for $260 million, the group's press office said in a statement on Tuesday.

  • Russian AF to receive 16 new MiG-29SMT fighters

     The Russian Defense Ministry and Russian Aircraft Corporation MiG (RIC MiG) have signed a contract for the supply of 16 MiG-29SMT multirole fighter aircraft that will be built and handed over to the Air Force before the end of 2016.

  • U.S., Germany, France ready to help Ukraine develop agriculture sector

     U.S., German and French ambassadors said their countries were ready to help Ukraine in developing its agriculture sector.

  • Medvedev earns 1.6 mln rubles less in 2013 than in 2012 - declarations

      Russian Prime Minister Dmitry Medvedev earned 1.6 million rubles less in 2012 than in 2013, according to his income and property declarations.

  • CB to quote ruble at 35.5581 rubles/$1 and 49.2266 rubles/EUR1 on April 11

     The Central Bank of Russia will quote the U.S. dollar at 35.5581 rubles/$1 on April 11, 0.53% down from the previous exchange rate.

    The Central Bank will quote the euro at 49.2266 rubles/EUR1, 0.13% down from the previous exchange rate, the bank's Foreign and Public Relations Department told Interfax.
    11 April 2014
  • Capitalization of Russian stock market increases 1.01% on Thursday

    The capitalization of the Russian stock market, based on average-weighted prices on the Moscow Exchange's Main Market, increases 1.01%, or by 233.710 billion from the previous session, to 23.360 trillion rubles ($653.450 billion at the Central Bank's official exchange rate) on Thursday.

  • Uralkali IFRS net profit drops 64% to $269 mln in H2, missing forecast (Part 2)

    Uralkali (MOEX: URKA) posted a net profit of $269 million in the second half of 2013 under international financial reporting standards (IFRS), 64% less than in the same period last year, the company said in a press release.

    Analysts at 10 investment companies and banks told Interfax in a consensus forecast that the second half profit would be $361 million (Metropol came closest with a forecast of $282 million).

  • OGK-2 genco to invest 20 bln rubles in capacity contract projects in 2014 (Part 2)

     MOSCOW. April 9 (Interfax) - OGK-2 (MOEX: OGKB) will invest 20 billion rubles in the construction of new capacity under capacity supply contracts in 2014, the acting head of the genco's construction division, Sergei Medvedev, said during a conference call.

  • Mondelez to invest 3.5 bln rubles in construction of chocolate factory near Novosibirsk

    LLC Mondelez-Rus will invest 3.5 billion rubles into the construction of a plant to produce chocolate and cookies at the Industrial and Logistics Park in the Novosibirsk region, a source familiar with the company's plans told Interfax.

     The enterprise is expected to produce chocolate bars under the brands of Alpen Gold and Milka, Jubileynoe cookies, Medvezhonok Barni sponge cakes and other items. Additionally, the factory will have equipment to fill Jacobs Monarch freeze-dried coffee.

  • Russia imports 24% less medicines in Jan-Feb

    Russia imported $1.439 billion worth of various medicines in January-February, 24% less year-on-year, the Federal Customs Service (FCS) said.

  • After $307 mln Kola MMC impairment, Norilsk Nickel expects no more asset write-offs

    Norilsk Nickel (MOEX: GMKN), which for the first time took a $307 million non-cash charge for impairment of upstream operations of Kola MMC in 2013, does not see any grounds for future write-offs in the value of its Russia assets, Deputy CEO Sergei Malyshev told journalists on Monday.

  • Japan intends to terminate cooperation with Ukraine under Kyoto Protocol

    Japan demands that funds allocated to Ukraine under the Kyoto Protocol be returned, Ukrainian Minister of Ecology and Natural Resources Andriy Mokhnyk said.
    "The agreement itself stipulates $800 million but no funds were moved in three months. Thus, Japan has already announced its issues and readiness to break off the agreement and to stop cooperation," Mokhnyk said.
    According to the Kyoto Protocol provision, Ukraine will be obliged to return all funds it has received, Mokhnyk said.
  • MinFin to peg FX purchases on market to bi-currency corridor (Part 2)

    The Russian Finance Ministry's foreign currency purchases on the market will be pegged to the bi-currency corridor, Deputy Finance Minister Alexei Moiseyev told reporters.

  • Rogozin opposed to industrial assembly policy in defense sector

    The defense sector can boost the Russian economic growth amid the global economic turmoil, Deputy Prime Minister Dmitry Rogozin said.
    "In fact, only the defense sector and affiliated industries give a serious reason for optimism against the backdrop of a profound global economic crisis," Rogozin said at a conference dedicated to the defense sector's development and state defense orders in Novosibirsk on Friday.
    For example, the defense sector can spur the growth of the entire machine building industry, he said.
  • AFK Sistema signs binding agreement to purchase Investlesprom assets (Part 2)

    "Sistema JSFC ("Sistema") (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, today announces that its subsidiary LLC LesInvest has signed legally binding agreements with the Bank of Moscow to acquire 100% of OJSC Segezha Pulp and Paper Mill and 100% of LLC Derevoobrabotka-Proekt [DOP] together with all debt obligations to the Bank of Moscow on debt free cash free basis. The closing of this transaction is contingent upon the approvals of relevant anti-monopoly authorities.
  • Kuzbass, Far East coal could lift Asia-Pacific market share to 15%

     MOSCOW. April 3 (Interfax) - Russia could raise its share of the Asia-Pacific coal market from 6% to 15% by 2030 by exporting more coal from the Kuznetsk basin (Kuzbass) and Far East, Russian Energy Minister Alexander Novak said at a cabinet meeting, presenting a new updated coal sector development program for the period.

  • Moscow considers pseudo-historical insights of German finance minister to be provocative - Russian Foreign Ministry

     MOSCOW. April 3 (Interfax) - The Russian Foreign Ministry has made a presentation to the German ambassador in Moscow due to statements of German Finance Minister Wolfgang Schaeuble, who compared Crimea's accession to Russia with the occupation of Czechoslovakia's northern and western border regions by Nazi Germany in 1938.

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