Correspondent, New York
Megan's Feed
Mar 6, 2014

Russia’s Vimpelcom slumps to Q4 net loss after Ukraine writedown

MOSCOW, March 6 (Reuters) – Russia’s third-biggest mobile
phone operator Vimpelcom fell to a fourth-quarter net
loss, missing analysts’ expectations, mainly due to writing down
the value of its assets in Ukraine following recent turmoil in
the country.

It said its $2.7 billion fourth quarter loss reflected
non-cash impairments of $2.9 billion, including just over $2
billion in Ukraine related to “macro-economic developments, an
increase in the country risk premium and weakened operational
performance”.

Mar 3, 2014

Banks caught in storm as Ukraine tensions rise

MOSCOW (Reuters) – Bankers scrambled to assess possible damage to corporate deals and tried to calm customers on Monday after Russia’s military intervention in Ukraine unnerved financial markets and hit bank shares in Russia and across Europe.

Both local and foreign banks are likely to be affected if Ukraine’s currency the hryvnia continues to fall, loans are not repaid or the country defaults on its sovereign debt even though Ukraine’s central bank has imposed limits on the amount depositors can withdraw and is ready to provide liquidity.

Feb 28, 2014

Ukraine overshadows market debut of Russia’s Lenta

MOSCOW, Feb 28 (Reuters) – Russian hypermarket chain Lenta’s
stock market debut was clouded by political turmoil in
Ukraine on Friday as investors reined in their exposure to
Russian companies.

The negative sentiment pushed Lenta shares below their price
in its initial public offering, which netted around $1 billion
for shareholders including U.S. private equity firm TPG
.

Feb 27, 2014

Foreign banks in Ukraine face choice – hunker down or cut losses

MOSCOW, Feb 27 (Reuters) – Foreign banks have pared back
their exposure in Ukraine in recent years and the unfolding
crisis could force them to choose between cutting their losses
or holding on to grab market share.

While Russian banks retain a strong presence, several
European banks have pulled out of Ukraine since the global
financial crisis in 2008.

Feb 26, 2014

Russia’s largest banks halt new loans in Ukraine eyeing political risk

MOSCOW (Reuters) – Russia’s second-largest bank VTB has joined Sberbank in saying it would halt new lending in Ukraine, underlining concerns over financial risks due to political turmoil in Kiev.

Ukrainian President Viktor Yanukovich was driven from power over the weekend after months of upheaval sparked by his decision to spurn deals with the European Union and improve ties with Russia. While the country has an interim leader, a new government is yet to be formed.

Feb 26, 2014

Russia’s VTB stops issuing new loans in Ukraine

MOSCOW, Feb 26 (Reuters) – Russia’s second-largest bank VTB
has stopped issuing new loans in Ukraine, with the
situation in Kiev making it difficult to estimate risks, Chief
Executive Andrei Kostin said on Wednesday.

Ukrainian President Viktor Yanukovich was driven from power
over the weekend after months of political turmoil sparked by
his decision to spurn deals with the European Union and improve
ties with Russia.

Feb 25, 2014

Russian banks which lent to Ukraine companies at risk-Fitch

MOSCOW, Feb 25 (Reuters) – Russian banks which made loans to
Ukrainian companies or businessmen who bought assets there are
at risk if the country’s economy falls into recession or the
currency devalues, Fitch credit rating agency said on Tuesday.

Ukraine this week appealed for $35 billion over two years to
hold up its economy following the ouster of President Viktor
Yanukovich. Its economy flatlined in 2013 and the hryvnia
currency has fallen 8 percent in three months.

Feb 24, 2014

Russian banks could easily absorb Ukraine credit losses – Moody’s

MOSCOW, Feb 24 (Reuters) – Russian banks could easily absorb
any credit losses stemming from Ukraine’s crisis from their
earnings this year, a managing director at credit rating agency
Moody’s in Moscow said.

Ukraine on Monday appealed for $35 billion over two years to
hold up its economy following the ouster of President Viktor
Yanukovich. Its economy flatlined in 2013 and the hryvnia
currency has slid 8 percent in three months.

Feb 20, 2014

Mail.Ru and Yandex may dual list in Moscow

MOSCOW, Feb 20 (Reuters) – Russian Internet companies
Mail.Ru and Yandex may seek to list their
shares in Moscow to add to primary listings in London and New
York, they said on Thursday.

Russian firms with an overseas focus have tended to list on
international exchanges such as London and New York so they can
gain inclusion on indices such as the FTSE, to widen their
shareholder base and boost their valuation.

Feb 20, 2014

London-listed Mail.Ru plans share offer in Moscow

MOSCOW, Feb 20 (Reuters) – London-listed Russian Internet
group Mail.Ru plans to also list its shares in Moscow
in the near future, its chief financial officer said on
Thursday.

Mail.Ru went public in London in November 2010, listing
global depositary receipts and raising $912 million.