Summit Notebook

Audio – Looking ahead with Ford

September 15, 2008

Ford Motor Co Chief Executive Alan Mulally found himself in a rather strange situation this week.

Russia’s helping hand for Fannie, Freddie

September 10, 2008

The head of Russia’s oil pipeline monopoly Transneft, which carries over 10 percent of the world’s oil supply to market, takes a charitable view of Russia’s oil output growth. At a time when oil prices are on the slide, and the OPEC group of oil producing nations is cutting production, he thinks energy-rich Russia must keep pumping more to help the world’s less fortunate consuming nations and their economies.

Kremlin adviser sees end to graft

September 9, 2008

dvork.jpgThe Kremlin has been promising for years to root out corruption from Russia’s bureaucracy. President Dmitry Medvedev has vowed to redouble these efforts. In June, the newly elected president’s administration presented him with new anti-corruption legislation and a plan to clean up the judiciary.  

AUDIO – Power industry can’t keep up with the Joneses

September 9, 2008

slobodin3.JPGMikhail Slobodin’s Integrated Energy Systems, Russia’s largest private electricity investor, works in a tough industry: Prices for gas are rising, prices for coal are rising more. Russia’s growing economy needs power, and IES has heavy obligations to build new stations at a time when construction costs are soaring and credit is tight. Government price regulation leaves little room for profit.

AUDIO – Vimpelcom: At home in Vietnam

September 8, 2008

izosimov.jpgAs Russia’s acquisitive corporations have consolidated their positions at home, their ambitions have spread to other fast growing, often risky and untried emerging markets. First they hit the countries of the former Soviet Union, which many Russian businessmen still view as their backyard,  and more recently, have expanded in other emerging markets in Asia and Africa. Particularly hospitable have been the old Cold War allies of the Soviet Union, as Russian mobile phone operator Vimpelcom found when it made its first step in Asia by entering a joint venture in Vietnam.

Buy a farm in Russia, get more than you pay for

September 8, 2008

soldatov.jpgThe chief executive of Russian agribusiness company Razgulay, Alexander Soldatov, set out to buy up old collective farms, and ended up with a milk business. The cows just came with the land, he said. 

AUDIO: Capital flight to cure what ails

September 8, 2008

pankin1.jpgSoaring oil prices have helped make Russia rich, but the flood of petrodollars means Russians face double digit price inflation. Dmitry Pankin, Russia’s deputy finance minister, sees a trade off in a recent market selloff: Russian companies might have trouble raising capital, but billions of dollars in capital outflows may be just the thing to help cool inflation. 

AUDIO – Fannie, Freddie favour Russia

September 8, 2008

Russia’s Finance Ministry and central bank have been put on the defensive for investing the national reserves in U.S. mortgage agency debt. Deputy Finance Minister Dmitry Pankin tells the Reuters Russia Investment Summit that Fannie Mae and Freddie Mac were propping up Russia’s finances, not the other way around.

No gain without pain for European paper makers

August 20, 2008

The current slew of bad news was necessary to get European forestry companies to act, the head of the world’s top paper and board maker Stora Enso said on Wedstora_ceo_web.JPGnesday.

Audio – The waiting is the hardest part

June 24, 2008

holliday1.jpgFor Marc Holliday, chief executive of SL Green Realty Group and Gramercy Capital Corp, the Tom Petty lyrics ring especially true.