MOSCOW (Reuters) – Russian billionaire Viktor Vekselberg quit on Tuesday as chairman of the world’s largest aluminum producer, UC RUSAL (0486.HK: Quote, Profile, Research, Stock Buzz), saying the heavily indebted company was in deep crisis after a long battle with rival oligarch Oleg Deripaska.
Vekselberg’s exit widens a rift with controlling shareholder Deripaska, who had sought to build a Russian metals and mining business on a global scale by merging RUSAL with Norilsk Nickel (GMKN.MM: Quote, Profile, Research, Stock Buzz), the world’s top nickel and palladium miner.
MOSCOW March 6 (Reuters) – Russian state technology
firm Rusnano is teaming up with a U.S. venture fund to invest
around $760 million in a number of U.S. healthcare and
pharmaceuticals firms, establish a manufacturing facility in
Russia and bring new drugs to the Russian market.
As part of the deal, Rusnano and life sciences technologies
investor Domain Associates are planning to each invest $330
million in about 20 US-based healthcare technology companies.
MOSCOW (Reuters) – Thousands of Russians joined hands to form a human chain around Moscow city centre on Sunday in protest against Vladimir Putin’s likely return as president in an election next week.
The protesters stood side by side around the wide 16-km (10-mile) Moscow Garden Ring Road in gently falling snow, many of them wearing the white ribbons that symbolize the biggest opposition protests since Putin rose to power 12 years ago.
MOSCOW (Reuters) – Thousands of Russians joined hands to form a ring around Moscow city centre on Sunday in protest against Vladimir Putin’s likely return as president in an election next week.
Many of the protesters who stood in a long line around the 16-km (10-mile) Moscow Garden Ring Road, despite gently falling snow, wore the white ribbons that symbolize the biggest opposition protests since Putin rose to power 12 years ago.
LONDON/MOSCOW, Feb 13 (Reuters) – Canada’s Barrick
Gold, the world’s largest gold producer, plans to sell
its 20.4 percent stake in struggling Russian miner Highland Gold
, pulling out of one of the world’s most promising but
toughest gold frontiers.
Highland, backed by Russian tycoon Roman Abramovich, was
Barrick’s only Russian asset. The Canadian firm bought the stake
nearly 10 years ago for access to key projects that are still
only in development.
MOSCOW Feb 1 (Reuters) – Goldman Sachs’ Italian
investment banking chairman is to take over as head of the
bank’s Moscow office, replacing the bank’s two co-heads,
according to an internal memo obtained by Reuters on Wednesday.
Paolo Zannoni is to succeed Chris Barter, an American, and
Frenchman Jean Raby, who were co-heads of the business in Russia
and the Commonwealth of Independent States, a group of ex-Soviet
MOSCOW Jan 30 (Reuters) – Russia’s newest state fund
made its first investment on Monday, buying a stake in Moscow’s
MICEX-RTS bourse to boost its IPO hopes and compete with big
international centres like London for Russian company listings.
The $10 billion Russian Direct Investment Fund (RDIF), which
is government funded but run by private equity specialist Kirill
Dmitriev, is investing together with the European Bank for
Reconstruction and Development. The pair is buying a total stake
of 7.54 percent.
MOSCOW, Jan 18 (Reuters) – Russian oil explorer
Ruspetro will bank around $250 million from its London listing,
two sources familiar with the situation said on Wednesday,
defying choppy market conditions that have put paid to any
sizeable flotations in Europe since the summer.
Deepening concern over the euro zone in the past six months
has sent investors running for cover and forced most companies
to put on ice their plans for initial public offerings (IPOs) –
considered the riskier end of the share sale spectrum.
MOSCOW, Jan 16 (Reuters) – Ruspetro, an oil explorer
with Russian assets, could price a delayed $300 million London
initial public offering (IPO) this week, a source familiar with
the situation said on Monday.
The deal would be the first London main market float of
2012, against a backdrop of turbulent market conditions that has
forced others to postpone similar plans.
GORKI, Russia Jan 12 (Reuters) – Russia’s president
Dmitry Medvedev criticised state banks on Thursday for imposing
high interest rates on loans for small and medium businesses,
and stressed the importance of supporting fledgling firms.
Russia has been trying to boost small businesses as it tries
to reduce the economy’s dependence on oil and gas revenues.
Critics have said small businesses are the most prone to the
country’s red tape and corruption.