The General Prosecutor’s Office has petitioned a Moscow court to extend house arrest for Vladimir Yevtushenkov, head of Russia’s biggest conglomerate AFK Sistema. This is to prevent the billionaire fleeing abroad or destroying evidence, prosecutors say.
The Russian government has won court approval to seize shares in Bashneft, the country’s fifth largest oil company, after the CEO of the holding company was accused of illicitly privatizing the company’s assets.
The two largest Chinese state-owned train makers CSR Corp and China CNR Corp are reportedly in merger talks that would create a new mega-company to compete in overseas markets with German, Canadian, and Japanese locomotive makers.
Russia will acquire Europe's largest underground gas storage facility this autumn from Germany’s BASF, continuing the development of its Nord Stream operations. In return, the Germans will get access to large gas reserves in Western Siberia.