Crashing sales slam on brakes for Russian carmaking : comments

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

MMK posts 3Q 2008 Net Profit of $667 million Russian steelmaker Magnitogorsk Iron and steel, or MMK, has posted a 3Q 2008 Net Profit of $667 million under IFRS.

Lukoil posts 3Q 2008 Net Profit of $3.47 Billion Major Russian oil company, Lukoil, has posted a 3Q 2008 Net Profit of $3.47 Billion under U.S. GAAP.

Unemployment wave tipped as economy slows Russia’s commodity-based economy is struggling as oil prices plunge 70% from record levels in July, and experts anticipate a sharp rise in unemployment early next year.

Market Watch December 10: A little more upside Russian stocks pushed higher on Wednesday with firmer crude prices helping Russian energy companies, in light and choppy trade. At the close the RTS had gained 2.21% to finish at 656.13 with the Micex adding 1.78% to...

Aeroflot looking to expand as Airbus 330 goes through paces Aeroflot has taken delivery of its first Airbus 330 airliner, with nine more to come by 2010. With new aircraft on the way, and potential for mergers ahead, Russia's biggest airline looks set to ride out a turbulent...

Branson still keen on Russian operation British entrepreneur Sir Richard Branson says he is still keen on expanding Virgin Airlines into Russia.

Two projects on hold as Highland Gold braces for credit crunch London listed Russian gold miner Highland gold has announced a delay in the commencement of two projects in the wake of a review to minimize the impact of the global credit crisis.

Sedmoi Kontinent posts 3Q 2008 Net Profit of $8.9 million Russian upmarket grocery chain, Sedmoi Kontinent, has posted a 3Q 2008 Net Profit of $8.9 million under IFRS.

Market Watch December 9: Mixed in the afterglow Russian investors came in after Mondays bounce with some enthusiasm. But a return, during the Russian trading day, to a gloomier focus on demand, particularly for energy, saw a mid afternoon high point on both exchanges...

Somali pirates just pawns in a global business Pirates operating off the Somali coast are about to receive another US$3.5 million ransom for the release of the Ukrainian freighter Faina. That will bring their total haul to some US$40 million so far this year. But doe

NLMK sells its majority stake in Tuapse Seaport for $254 million Russian steelmaker, NLMK, has agreed to sell its stake in the Black Sea port of Tuapse to Universal Cargo Logistic Holding for $254 million.

Transport services feel the pinch as financial crisis bites Russian airlines and railways are set to carry fewer passengers next year, as the global financial crisis hits spending. The country’s Transport Minister has promised to compensate losses for Russian Railways, and...

Office rents drop in Moscow and St. Petersburg Demand for office rental space has fallen sharply in Moscow and St. Petersburg, prompting owners of business centers to offer huge discounts to attract tenants.

Ford’s plant extends holiday as sales fall Ford’s car plant in the Leningrad region will suspend production for nearly a month over the New Year’s period – giving workers an extended holiday as demand weakens.

Rostelecom posts four fold increase in Net Profit for 1H 2008 Russian fixed line telecom, Rostelecom, as posted a 1H 2008 Net Profit of 9.8 Billion Roubles ($350.84 million) under IFRS.

RTS looks at 24 Hour trading The head of Russia's benchmark stock exchange, RTS, has told Business RT they could go 24 hours next year. The news comes after evening trading sessions have become a hit with private investors.

Government moves to buy mortgages from banks Among the government's latest stimulus measures is the move to buy mortgages from banks.

Gazprom prepares for future demand with Yamal Gazprom has begun development of its new mega project Yamal in Western Siberia.

Hong Kong touts for Russian corporate listings Russian issuers are looking for opportunities to list publicly – and exchanges are competing to snap them up. Historically, companies have looked to London. But while the credit crisis has hit Western markets...

Trading halts set to become fewer on Russian exchanges Moscow's stock exchanges will halt trade from next month if shares fall more than 15% in an hour. The current cut-off is 10%. Russian finance officials have now asked the London Stock Exchange, to which frustrated...

Gazprom set to take part in Dutch underground gas storage project Gazprom's CEO Alexey Miller has hold talks with Netherlands Economic Minister, Maria von der Hoeven. They agreed to develop an underground gas storage in Holland for Russian gas coming through Nord Stream when it is...

India in focus as Sberbank does the hard yards India will sign up for its first third-generation nuclear reactors from Russia this week.

PM calls it straight on the economy in Q&A session The Russian economy and the Governments efforts to reduce the impact of the global slowdown became a key part of the televised question and answer session between the Russian public and Prime Minister Vladimir Putin on...

Gazprom and Serbia in new talks on NIS Gazprom is to hold another round of talks over purchasing of 51 per cent stake of Serbia’s NIS government oil company. A deal would give Gazprom access to the Balkans downstream market, but it comes at a cost.

Market Watch December 4: A little bit of this, a little bit of that A light and hesitant days trade around the world saw the RTS and Micex close mixed on Thursday, with investors looking for gems in the Prime Ministers question and answer session, watching crude prices continuing to...

Sberbank looks to go global The head of Russia and Eastern Europe's largest bank has boasted of an “historic” opportunity to buy international rivals. In an interview with Business RT, the chairman of Sberbank, Herman Gref, said he'll...

Market Watch December 3: Adrift in the doldrums, sitting lower in the water Russian stocks again drifted lower throughout Wednesday trade as uninspiring crude and metals prices, and diffident sentiment in Europe combined to send the RTS and Micex downhill.

Rusnano Forum puts spotlight on commercializing nanotech projects Moscow is currently hosting Russia's first Nanotechnology Forum, and industry players say the government should be looking to fund more research and development after kick starting its first two projects.

The global financial crisis and NATO's commitment to Afghanistan An analysis of the impact of the global financial crisis on NATO’s operations in Afghanistan shows that the economy is inextricably linked to security, with social conflict remaining a key issue for Alliance countries.

MDM Bank and URSA Bank to merge Private Russian banks, MDM Bank and URSA Bank, have announced the two will merge, to form the second largest private bank in Russia, in the latest consolidation move in Russia’s banking sector.

Crashing sales slam on brakes for Russian carmaking : comments

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