Russian SMEs struggle after credit crunch : comments

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With gold prices hitting all time highs should Russia to be thinking of selling some of its reserves?

Russia – South Korea trade ties look beyond energy Russia and South Korea are to launch a joint trade assault on world markets – that's one view expressed by their Presidents when they met in Moscow on Monday. Business leaders from both countries signed more...

SibirTelecom posts 1H 2008 Net Profit of $79 million Siberian fixed line telecom provider SibirTelecom has posted a Net Profit for 1H 2008 of $79 million dollars under IFRS.

Novorossiysk Commercial Sea Port posts 1H 2008 Net profit of $84.5 million Novorossiysk Commercial Sea Port has reported a Net Profit of $84.5 million under IFRS for 1H 2008

PIK Group posts 34% increase in Net Profit 1H 2008 Russian property developer, PIK Group, has posted a Net profit of $93 million for 1H 2008 under IFRS.

World markets hold breath after bailout rejection Stocks are tumbling following the U.S House of Representatives rejection of the $US 700 billion emergency rescue package. The vote, 228 against and 205 for, came after the world's major stock markets all slumped on...

Russian government steps into foreign funding gap with $50 Billion The Russian government will lend $50 billion to help banks and companies pay off foreign debts. They will be able to borrow money through state-owned Vnesheconombank.

Russian companies to refinance foreign debt through VEB Russian companies needing to refinance foreign debts can apply for funding through Vnesheconombank, or VEB, the Russian State Development Bank.

Polyus Gold Offers $390 Million for 50.1% of KazakhGold Russia’s largest gold producer, Polyus Gold, is offering $390 million in cash and shares for a 50.1% stake in London listed, Kazakhstan based, KazakhGold.

Railways shunt into investment spotlight As global financial markets shudder, some European state-owned railway majors are preparing to go private. Some of those taking part in the Innotrans International Exhibition in Berlin believe that railways are about to...

Former IEA head looks for flexibility in Gazprom’s energy relations with Europe Gazprom's current foreign expansion policy is facing resistance from the European Community. But Claude Mandil, Former Director of International Energy Agency, doesn't see any tension between the Russian gas monopoly...

Funding spectre haunts smaller Russian banks The funding crisis engulfing many of Russia’s smaller banks has sparked a row over what measures the Government and Central Bank of Russia should be taking to help them out. The IMF is warning that many possible steps...

Agriculture Minister labels WTO hypocritical Russia's Agriculture Minister Alexey Gordeev has attacked the World Trade Organisation, calling it hypocritical. He says its agricultural interests are too commercial.

IMF lowers Russian GDP growth forecast to 7.1% Russia will see its GDP growth fall to 7.1%, according to Paul Thomsen, the head of the IMF mission in Russia.

Russia opens online fuel bourse Rosneft wants to sell half its oil through Russia's online fuel exchange which opened on Tuesday. It’s hoped the bourse will drive down energy prices as buyers compare offers in real time. The latest rates on diesel and...

Medvedev lashes out at gold producers President Dmitry Medvedev has hit out at Russia's gold producers for not being efficient enough.

VTB offers help to Russian government Russia’s second bank, VTB, has announced that it’s willing to act for the government to buy back shares in other companies on the market. The bank’s chief financial officer, Nikolai Tsekhomsky, made the announcement to

Is farm technology the way to beat high food prices? Russia is looking at its massive amount of undeveloped land as a way of overcoming high food prices. The country has 30 million hectares of undeveloped land.

Finances could lead to problems for property developers Moscow property prices are set to fall as liquidity-hit banks cut mortgages, industry leaders predict. The news comes as developers of Moscow's new financial district admit problems finding tenants.

Raspadskaya posts 186% Net profit jump 1H 2008 Russian coal producer, Raspadskaya, has posted a Net profit for 1H 2008 of $262 million.

Euroset sold as owners fear for debts Russia's leading mobile phone retailer, Euroset, has been sold to Aleksandr Mamut, the billionaire owner of A.N.N Investments. The deal is to be closed within the next few days, and neither side has disclosed its value.

FFMS bans unsecured transactions Russia’s Federal Financial Markets Service has banned unsecured transactions on the securities market, after having previously banned margin lending and the shorting of stocks.

Novatek launches phase 2 of Yurharovskoya Russia's second biggest gas company, Novatek, has launched phase two of the Yurharovskoya gas field, near the Arctic Circle. This will increase the company’s gas production by 20%. But as Gazprom has a monopoly on expor

Onexim buys stake in Renaissance Capital Russian billionaire Mikhail Prokhorov, through his Onexim Group, is buying half of investment bank Renaissance Capital. Onexim will pay $500 million for the stake, through a share issue. Both sides deny the deal is the...

Monday sees Russian markets make moderate gains A light day's trade on Monday saw Russian stocks improve slightly, with traders taking a breather after last week's frenetic activity. At the end of the day the RTS and Micex closed up 1.05% and 0.62% respectively.

Kremlin insider gets nanotechnology job Anatoly Chubais, the former CEO of Russian electricity holding RAO UES, has been appointed to run the Russian Nanotechnologies Corporation or Rusnanotekh.

Carrefour to open up in Krasnodar with $100 million outlay French retailer Carrefour has announced plans to put $100 million into developing its presence in Russia, beginning in the Krasnodar region.

Mikhail Prokhorov’s Onexim Group buys 50% stake in Renaissance Capital Onexim Group, owned by Russian billionaire Mikhail Prokhorov, will pay $500 million for a 50% minus one share stake in Russian investment bank Renaissance Capital.

Peter Hambro Net Income drops 33% 1H 2008 Russian focused British listed gold miner, Peter Hambro, has unveiled a Net Income for 1H 2008 of $14.4 million.

Evroset sold? Kommersant is reporting that Russia’s largest mobile phone retailer ‘Evroset’ has been sold to investment company A.N.N. which is owned by Russian businessman Aleksandr Mamut.

Sochi forum trumpets Russian business investment despite market woes The Sochi international business forum held over the course of this weekend in Southern Russia saw the signing of deals worth more than 19 Billion dollars. Despite the volatility on global and Russian markets in recent...

Russian SMEs struggle after credit crunch : comments

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