Correspondent, New York
Megan's Feed
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.

Feb 12, 2014

With Khodorkovsky out, Yukos investors fight on

MOSCOW (Reuters) – Freed former tycoon Mikhail Khodorkovsky has ruled out trying to recover the fortune that made him Russia’s richest man, but two multi-billion-dollar law suits involving his defunct oil giant Yukos could be decided this year.

Pardoned by President Vladimir Putin in December after 10 years in jail for fraud and tax evasion, Khodorkovsky, 50, has bowed out of the ring, but the ex-managers and shareholders of Yukos fight on for compensation from the Russian Federation.

Feb 3, 2014

Russian hypermarkets group Lenta to float shares in London

MOSCOW, Feb 3 (Reuters) – Russian hypermarkets retailer
Lenta is to list its shares in London, the company said on
Monday, potentially raising at least $1 billion and tapping the
demand from investors for consumer-focused businesses buoyed by
Russia’s rising middle class.

Such businesses have proven popular for overseas investors
with Russia’s second largest telecoms company Megafon
floating in London 2012, with the share price now 50
percent higher than its flotation price.

Feb 3, 2014

Goldman bets on Russian consumer with fitness deal

MOSCOW (Reuters) – Investment bank Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) is increasing its investment in an upscale chain of fitness clubs founded by a Russian former fencer, betting lifestyle spending will grow despite an economic slowdown and slide in the rouble currency.

Goldman’s Special Situations Group (SSG) has been clinching bite-sized deals in Russia, backing entrepreneurs looking to capitalize on the country’s rising middle class.