UK Transport / Defence Correspondent
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Aug 31, 2010

Hermitage:Russia seeks to search exec’s London home

MOSCOW, Aug 31 (Reuters) – Hermitage Capital, a hedge fund
embroiled in a long-running row with Russian authorities over
alleged tax fraud, said on Tuesday that Russia is seeking
permission to search the London home of a senior executive.

Hermitage, which under co-founder Bill Browder was once
Russia’s biggest investment fund, said it had court documents
stating that Interior Ministry investigator Oleg Silchenko
wanted UK legal assistance to conduct the search.

Aug 30, 2010

Russia’s big asset sales in 2010 unlikely

MOSCOW (Reuters) – Russia’s multi-billion dollar privatization is unlikely to start this year, a senior official said, but analysts forecast that budget demands ahead of an election will ensure the much awaited sale is not canceled.

Investors had hoped to get their hands on some of the state assets as soon as this year after the head of VTB (VTBR.MM: Quote, Profile, Research, Stock Buzz) said in June the government could start divesting its stake in Russia’s number two bank within six months.

Aug 26, 2010

Luxury car makers battle it out for Russian buyers

MOSCOW, Aug 26 (Reuters) – A roll call of luxury carmakers
have descended on Russia to rally the nation’s long list of
billionaires to snap up their latest models in the wake of last
year’s industry collapse.

Porsche (PSHG_p.DE: Quote, Profile, Research, Stock Buzz), Jaguar (TAMO.BO: Quote, Profile, Research, Stock Buzz), Cadillac [GM.UL] and
Bentley (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) are among a host of high end manufacturers
renting space at this year’s Russia International Motorshow.

Aug 25, 2010

Nissan sees big impact on results from strong yen

MOSCOW, Aug 25 (Reuters) – Nissan Motor Co (7201.T: Quote, Profile, Research) said on
Wednesday it could still exceed its global sales target despite
worries about U.S. economic recovery but the appreciating yen
could have a big negative impact on its financial results.

“Yen appreciation will have a big impact on us. We have to
take countermeasures to minimise the impact,” Chief Operating
Officer Toshiyuki Shiga told Reuters Insider television.

Aug 25, 2010

Car markers hail Russian market revival

MOSCOW, Aug 25 (Reuters) – Russia’s car market is emerging
fast from the crisis as cheap loans return and consumer
confidence grows, leading auto makers said on Wednesday as they
delivered upbeat forecast for sales growth this year.

Russia was well on its way to overtaking Germany as Europe’s
leading car market before sales collapsed in 2009 amid economic
crisis that squelched cheap car loans and sent unemployment
soaring.

Aug 20, 2010

Scenarios: Russia’s Kerimov creates national potash giant

MOSCOW (Reuters) – Russian billionaire Suleiman Kerimov is close to creating a national potash mining champion via the merger of his stakes in domestic rivals Uralkali and Silvinit.

The Kremlin-backed tycoon and trusted business associates have bought more than 50 percent of both companies.

Aug 20, 2010

Russia’s Kerimov creates national potash giant

MOSCOW, Aug 20 (Reuters) – Russian billionaire Suleiman
Kerimov is close to creating a national potash mining champion
via the merger of his stakes in domestic rivals Uralkali
(URKA.MM: Quote, Profile, Research, Stock Buzz) and Silvinit (SILV.MM: Quote, Profile, Research, Stock Buzz). [ID:nLDE67F0DD]

The Kremlin-backed tycoon and trusted business associates
have bought more than 50 percent of both companies.

Aug 13, 2010

Russia to limit Uralkali foreign bid at 15 pct

MOSCOW, Aug 13 (Reuters) – Russia is keen to create a
national potash mining champion via the merger of its two
biggest companies in the sector and may allow a small stake to
be bought by an overseas player, analysts said on Friday.

Uralkali (URKA.MM: Quote, Profile, Research, Stock Buzz) is expected to kick-start merger plans
with unlisted Silvinit in coming days, creating the world’s
second biggest potash miner worth around $20 billion.

Jul 30, 2010

Russia IPO market eyes state asset sales for rebound

MOSCOW (Reuters) – Russia’s initial public offering market is banking on a mega privatisation programme for a turnaround next year as a much-hyped 2010 threatens to fizzle out into the third poor year in a row.

Bankers and investors alike say that the global market conditions that have destroyed risk appetite since April should improve in 2011, when government plans to sell $29 billion worth of stakes in major firms could alter the landscape.

Jul 26, 2010

Russia’s $29 billion asset sale plan cheers investors

MOSCOW (Reuters) – Russia’s move to sell $29 billion in state assets fleshes out the Kremlin’s plan to lure investment and slash the budget deficit, but much will depend on how the sales are implemented, investors said on Monday.

If approved by Prime Minister Vladimir Putin, Russia’s most ambitious asset sale plan since the rigged privatizations of the 1990s could help President Dmitry Medvedev plug a hole in the budget ahead of the 2012 presidential election.

    • About John

      "I am currently on a six month placement as senior equities correspondent for Reuters in Moscow. Before that I worked in London as a transport and defence correspondent, but in my three years at the company I have written about everything from Congolese mining to Michelle Obama's clothes. I joined from The Scotsman newspaper - based in my home town of Edinburgh."
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