Oct 29. After the Russia-EU summit EDTM head Elvira Nabiullina and EU Trade Commissioner Peter Mandelson signed an agreement

Finamrus com 29.10.2007 14:33
http://www.finamrus.com/newtopics/news03BE4/default.asp

After the Russia-EU summit EDTM head Elvira Nabiullina and EU Trade Commissioner Peter Mandelson signed an agreement between Russia and the EU on the trade of some steel products in the presence of Russian President Vladimir Putin. For the record, in late June the Russian government issued a resolution on the conclusion of trade agreements with the EU involving some steel products. In line with the arrangements, Russian steel supplies to the EU are expected to rise 15% compared to 2006 and marginally expand the mix of export items in 2008.

Oct 26. Deutsche Bank raises Severstal-Avto target price 7%, reiterates Buy.

Finamrus com 26.10.2007 16:03
http://www.finamrus.com/newtopics/news03BDD/default.asp

Deutsche Bank has lifted its target price for Severstal-Avto’s stocks from $51.50 to $55.30, the bank’s analysts said in an equity research note. The Buy recommendation on the stock was left intact. DB analysts revised Severstal-Avto’s valuation model on the back of impressive performance exhibited by the company in January-June 2007.

Oct 25. AFK Sistema has penned an agreement to purchase a 41% stake in Shyam Telelink Ltd.

Finamrus com 25.10.2007 13:05
http://www.finamrus.com/newtopics/news03BC3/default.asp

AFK Sistema has penned an agreement to purchase a 41% stake in Shyam Telelink Ltd. , enabling it to raise its stake in the company to 51%, the holding said in a statement. Also, AFK Sistema entered into an option agreement whereby it could increase its equity position in Shyam Telelink from 51% to 74%. The fulfillment of the agreement and the option is driven by the approval obtained from India's Foreign Investment Promotion Board (FIPB). The price of the deal to buy up 51% of Shyam Telelink will total $58.1 mln.

Oct 23. Russia does not support imposing restrictions on investments using cash from national welfare funds

Finamrus com 23.10.2007 14:12
http://www.finamrus.com/newtopics/news03BA9/default.asp

Russia does not support imposing restrictions on investments using cash from national welfare funds, vice PM and finance minister Alexey Kudrin said at a press conference. "The official position of those countries that invest money from these funds is to have no restrictions. We are interested in entering global markets without any hitches, as a result of which I think the elaboration of comprehensive, not mandatory, but recommendable rules as a code is possible in principle, but only if they suit all the countries that invest cash from national welfare funds" – Kudrin emphasized.

Oct 22. The Bank of Russia does not rule out raising the refinancing rate by the end of 2007

Finamrus com 22.10.2007 15:10
http://www.finamrus.com/newtopics/news03B97/default.asp

The Bank of Russia does not rule out raising the refinancing rate by the end of 2007, first deputy CBR chairman Alexey Ulyukaev said Friday at the conference "The Russian Banking Sector: Growth Factors". "The refinancing rate is a symbolic position linked with inflation and we should and apparently will raise the refinancing rate" – he said. As wired earlier, CBR forecasts 2007 inflation at 9.5-10%. At present, the refinancing rate stands at 10%.

Oct 19. Russia will see no banking crisis or monetary reform,

Finamrus com 19.10.2007 14:49
http://www.finamrus.com/newtopics/news03B86/default.asp

Russia will see no banking crisis or monetary reform, Russian President Vladimir Putin announced. "Will there be any banking crisis in Russia? No, it won't. Will Russia see a monetary reform? No, such plans do not exist" – the President said Thursday responding to the questions put by the Russians in a live TV and radio show.

Oct 15. The candidature to Sberbank's CEO position is to be defined this week

Finamrus com 15.10.2007 13:06
http://www.finamrus.com/newtopics/news03B47/default.asp

The candidature to Sberbank's CEO position is to be defined this week, CBR head Sergey Ignatiev told the media Monday. "The candidature will be clear this week" – he said. The Supervisory Council at Sberbank will address at Tuesday's meeting the issue of calling an EGM due to the bank's management reshuffle, an informed source in the Central Bank told RIA Novosti Thursday. According to the same source, the supervisory council's meeting is slated for 3 p.m. October 16.

Oct 12. Norilsk Nickel's BoD remains unchanged.

Finamrus com 12.10.2007 16:50
http://www.finamrus.com/newtopics/news03B3D/default.asp

In the course of the EGM it became known that the lineup of Norilsk Nickel's Board of Directors remained intact. Only 67% of the metal major's shareholders attended the meeting and only 3.5% of them voted for the reelection of the board. The EGM was spearheaded by Mikhail Prokhorov who was not elected to the new BoD early in the year and he presently has no representatives in the metal producer's BoD.

Oct 11. No ADRs to be issued on stocks of companies to be spun off from UES.

Finamrus com 11.10.2007 17:04
http://www.finamrus.com/newtopics/news03B2E/default.asp

American Depositary Receipts (ADRs) will not be issued on stocks of utility companies to be unbundled from UES in the course of the second phase, director of the energy holding's strategy department Dmitry Akhanov told reporters in Moscow Thursday. "No ADRs will be floated for sure" – he said. Four gencos (TGC-8, TGC-9, Kuzbassenergo and TGC-4) will hold SPOs by the end of the year. Meanwhile, Kuzbassenergo's stock placement will take place as a standard initial public offering with stocks to be sold to a wide group of investors, while TGC-8, TGC-9 and TGC-4 will place shares in favor of strategic investors. "Interest in TGC-4 stocks is enormous. Potential buyers are not only foreign companies, but also domestic investors as part of consortiums formed with foreigners" – Akhanov said.

Oct 9. Gazprom CEO to meet the Serbian prime minister.

Finamrus com 09.10.2007 12:54
http://www.finamrus.com/newtopics/news03B04/default.asp

The Russian gas holding's delegation led by executive board chairman Alexey Miller is on a visit in Serbia Tuesday. As the Serbian governmental press office reported, a meeting is scheduled for Tuesday between Miller and Serbian Prime Minister Voislav Kostunica. As news agencies wired earlier, the plan is to lay one of the South Stream gas pipeline's offshoots through Serbia. The gas pipeline will run from Russia's Black Sea coast to Bulgaria, then running on to southern Italy and towards Central Europe.

Oct 5. TNK-BP floated Wednesday 5-year Eurobond worth $600 mln yielding 7.5%

Finamrus com 05.10.2007 13:04
http://www.finamrus.com/newtopics/news03ADA/default.asp

TNK-BP floated Wednesday 5-year Eurobond worth $600 mln yielding 7.5% and 10-year Eurobond with a 7.875% yield, a source in the banking circles told Interfax-AFI. The first tranche was placed at 99.166% of par value and the second at 98.728%. The yield rate of the first tranche is US Treasuries + 345 basis points and US Treasuries + 350 basis points for the second tranche. Both bond issuers bear semiannual coupons.

Oct 4. Volga-Dnepr Group could hold an IPO in Q208 to place 18% of its stocks

Finamrus com 04.10.2007 12:03
http://www.finamrus.com/newtopics/news03AC6/default.asp

Volga-Dnepr Group could hold an IPO in Q208 to place 18% of its stocks, the group's chief executive Alexey Isaikin told Interfax. Earlier Volga-Dnepr said it rolled back the IPO for an indefinite period of time because of the unsettled corporate feud with Kaskol Group. "Our IPO plans are valid, but no decision on a trading venue has been adopted so far" – Isaikin said. In line with earlier news wires, on August 14, 2007 Volga-Dnepr made an official statement that Volga-Dnepr management upped its stake in the air carrier, it controls, to 80% after it agreed to buy out shares of the company's minority shareholders.