Turkmen gas to EU will bypass Russia: comments

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After the central Bank’s 11th consecutive refinancing rate cut which way is Russia’s economy headed?

Oil and gas sidelined at Russia’s UK business summit The Russian Investment Roadshow kicked off in London on Monday at the Queen Elizabeth II Conference Centre. The two-day summit replaces the annual Russian Economic Forum.

Gazprom to exploit new gas reserves in Siberia The gas fields of Yamalo-Nenets account for more than 90 per cent of Russia’s gas output and about 20 per cent of global production. The 200 fields in this western Siberian region are owned and operated by Gazprom and...

Super profits for a minor miner The Russian coalmining firm, Raspadskaya, has posted a net profit of $US 240 million for 2007, under international financial reporting standards. This was on the back of revenues that rose 67 per cent to $US 784 million.

Russian metal tycoons divide assets Long-time business partners Vladimir Potanin and Mikhail Prokhorov are one step further to separating their mutual assets, a process that began more than a year ago.

Russia mints new batch of billionaires Russia now has more than 100 billionaires, according to the Russian edition of Forbes magazine. In 2007 there were 60 of them on Forbes global list, while in March 2008, 87 Russians made the super-rich list.

Russian airlines crippled by high import duties Russian airlines say they are being crippled by soaring fuel prices and import duties on new foreign planes. The government has recently reduced import duties on two categories of aircraft, but the industry says this...

Berlusconi: Alitalia open to second Aeroflot bid Italy's Premier-elect Silvio Berlusconi has said his country is open to a second bid from Russia's Aeroflot airline for a stake in Alitalia. The statement came at Berlusconi’s meeting with Russian President Vladimir...

Sochi Games’ building chief retires The head of the company responsible for building the sporting venues of 2014 Winter Olympics, Semyon Vainshtok, has retired. His departure was announced at a meeting with Russian Prime Minister, Viktor Zubkov.

Global liquidity crisis hits Russia Russia is in the grip of an intense debate about whether the global financial crisis could affect the country’s economy. Meeting in Moscow on Wednesday, experts have been outlining the main threats to Russia posed by...

Gazprom aims to pump African gas to Europe Gazprom is in talks with Nigeria about participating in a multi-billion dollar project to pipe Nigerian gas to Europe across the Sahara. Company chief Alexei Miller announced that the talks were ongoing while on a...

Russia goes nuclear in Europe Russia's state nuclear corporation, Rosatom, is inviting international bids to build a nuclear power plant in Kaliningrad, Russia’s enclave in the Baltics. The company is ready to offer a stake of up to 49 per cent in...

Government raids coffers to keep banks afloat The government has started using billions of dollars from Russia’s stabilisation fund to soften the impact of the global credit crunch at home.

Profits soar at Russia’s biggest bank Russia’s biggest bank has posted provisional first-quarter profits of $US 1.5 billion, that’s a jump of 39 per cent year-on-year by Russian accounting standards. Announcing the provisional results, CEO German Gref said...

Lukoil & De Beers seal precious deal on diamonds Russian oil major Lukoil and diamond giant De Beers have settled their 15-year-long dispute over the Verkhotinskaya diamond field.

Top mobile operator and retailer set to unite Russia’s largest mobile operator MTS could be about to buy the country’s leading mobile phone retailer, Euroset. That’s according to the business daily Vedomosti.

Investors in Russian energy seek higher profits Russia’s leading electricity provider RAO UES expects private energy firms to invest about 60 billion euros into new generating facilities in the next 15 years. But market players say hidden costs have cut into the...

"The TNK-BP situation will not escalate": UK Trade Minister Russo-British relations have been at a low ebb in recent years and several UK investors in Russia say they're experiencing difficulties. Chief Executive of the UK Trade and Investment Andrew Cahn spoke to RT on the...

Merkel votes for Nord Stream German Chancellor, Angela Merkel, has once again defended Nord Stream, a natural gas pipeline that will run along the Baltic Sea bed from Russia to Germany. The Chancellor considers it to be strategically important for...

Russia sees record economic growth in 2007 The fourth quarter of 2007 saw record economic growth of 9.5% in Russia – the highest in the past seven years.

Gazprom handed Russia’s largest untapped field The government has given energy major Gazprom the rights to develop the Chayanda oil and gas field on a no-bid basis. The gas giant will pay $US 425 million for the licence.

Sberbank wants lion’s share of credit card market Russia's largest bank, Sberbank, plans to become the country's leading issuer of credit cards in two years.

State to seize control of Gazprom The Russian government plans to transfer its gas assets, including those in distribution and refining, to Rosneftegaz and then swap its shares for those of Gazprom, according to reports. The move would allow the state...

Super watchdog could oversee Russia’s money markets The G7 Finance Ministers have called for tighter regulation of money markets, as well as more international co-operation to deal with the credit crisis.

Billboards banished from Red Square Moscow plans to ban billboards from the Kremlin, Red Square and other historical sites in the capital. The prohibition would cut much-needed advertising revenues, but authorities say good looks are worth the price.

Russian budget to provide $US 25 BLN in liquidity Russia will start using government money this week, to protect its banks from the effects of the global credit squeeze. It's the first time the country has used budget money to boost liquidity. It'll provide up to $US...

Slovenia in, Austria out? South Stream changes ahead There may be big changes ahead for the $US 16 BLN South Stream gas project. Gazprom officials say it's in talks with Slovenia about possibly joining the South Stream gas pipeline project, connecting Russia and the...

Cheap coal becomes history The price for a tonne of coal has doubled, after millions of tones were lost due to severe flooding in Australia. The price surge has hit those steelmakers who rely on coking coal. But Russia may prove immune to the...

Russia to clear World Bank debt early The Russian Finance Ministry says Russia could repay about $US 3 billion of its $US 4.5 billion debt to the World Bank in June. According to Deputy Finance Minister Dmitry Pankin, early repayment is likely on fully used...

Food stamps for Russian poor Russia could introduce vouchers for bread for low income citizens – in order to protect them from price increase.

Sibirsky Cement expands to beat costs Russia is facing a huge cement deficit with prices having soared four times in less than a decade. Russia’s leading producer Sibirsky Cement, though, has found a way to drive down prices.

Turkmen gas to EU will bypass Russia: comments

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