Economy of Russia http://www.globalpost.com/taxonomy/term/26055/all en UPDATE 3-Billionaire duo shortlisted for $4 bln Polyus stake http://www.globalpost.com/dispatch/news/thomson-reuters/130129/update-3-billionaire-duo-shortlisted-4-bln-polyus-stake <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Mutsoyev, Yushvayev looking to buy out Prokhorov</p> <p>* $4 bln deal now before UK Takeover Panel</p> <p>* Report fuels speculation of all-Russian gold merger</p> <p>* Kerimov supports deal, flush with cash - sources</p> <p>By Polina Devitt and Megan Davies</p> <p>MOSCOW, Jan 29 (Reuters) - Two Russian billionaires have been shortlisted to buy a stake in Polyus Gold, sources said, in a deal which could pave the way for a merger with rival Polymetal to create a national gold mining champion.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130129/update-3-billionaire-duo-shortlisted-4-bln-polyus-stake" target="_blank">read more</a></p> Business Economy of Russia Polyus Gold Social Issues Suleyman Kerimov Thomson Reuters Tue, 29 Jan 2013 13:30:26 +0000 Thomson Reuters 5740992 at http://www.globalpost.com UPDATE 2-Turkish tycoon gets chance to recover Turkcell stake http://www.globalpost.com/dispatch/news/thomson-reuters/130130/update-2-turkish-tycoon-gets-chance-recover-turkcell-stake <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Court gives Turkcell co-founder right to recover stake</p> <p>* Says Cukurova defaulted on 2005 loan</p> <p>* Dispute has hobbled Turkcell's development</p> <p>* Shares fall as dividend payments still seen blocked</p> <p>By Estelle Shirbon</p> <p>LONDON, Jan 30 (Reuters) - One of Turkey's richest men has the right to recover a disputed stake in Turkcell, a British court ruled, throwing him a lifeline in a battle for control of the mobile phone operator with Russian partner Altimo.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130130/update-2-turkish-tycoon-gets-chance-recover-turkcell-stake" target="_blank">read more</a></p> Alfa Group Altimo Business Economy of Russia Social Issues Technology Turkcell Thomson Reuters Wed, 30 Jan 2013 17:15:48 +0000 Thomson Reuters 5741617 at http://www.globalpost.com Moscow Exchange sets IPO valuation target of $4.6 bn http://www.globalpost.com/dispatch/news/afp/130204/moscow-exchange-sets-ipo-valuation-target-46-bn <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Russia's main stock exchange said on Monday that its initial public offering set to be held in Moscow later this month will value the company at $4.0-4.6 billion (2.9-3.4 billion euros).</p> <p>The Moscow Exchange -- formed in a 2011 merger of the MICEX and RTS bourses -- set its price range at 55-61 rubles ($1.84-$2.10 / 1.34-1.54 euros) per share for the February 15 offering.</p> <p>The exchange said in a statement that it hoped to raise more than $500 million from the offering so that it can boost the capitalisation of its clearing subsidiary and improve its IT infrastructure.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/moscow-exchange-sets-ipo-valuation-target-46-bn" target="_blank">read more</a></p> Business Economy of Russia Futures exchanges Moscow Interbank Currency Exchange USD AFP Mon, 04 Feb 2013 08:46:00 +0000 Agence France-Presse 5745101 at http://www.globalpost.com Moscow Exchange sets IPO valuation target of $4.6 bn http://www.globalpost.com/dispatch/news/afp/130204/moscow-exchange-sets-ipo-valuation-target-46-bn-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Russia's main stock exchange said on Monday that its initial public offering set to be held in Moscow later this month will value the company at $4.0-4.6 billion (2.9-3.4 billion euros).</p> <p>The Moscow Exchange -- formed in a 2011 merger of the MICEX and RTS bourses -- set its price range at 55-61 rubles ($1.84-$2.10 / 1.34-1.54 euros) per share for the February 15 listing.</p> <p>The exchange said in a statement that it hoped to raise more than $500 million from the offering so that it can boost the capitalisation of its clearing subsidiary and improve its IT infrastructure.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/moscow-exchange-sets-ipo-valuation-target-46-bn-0" target="_blank">read more</a></p> Business Economy of Russia Futures exchanges Moscow Interbank Currency Exchange USD AFP Mon, 04 Feb 2013 09:30:43 +0000 Agence France-Presse 5745131 at http://www.globalpost.com Moscow Exchange sets $4.6 bn IPO target http://www.globalpost.com/dispatch/news/afp/130204/moscow-exchange-sets-46-bn-ipo-target <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Russia's main stock exchange Monday set a valuation target of $4.6 billion for a domestic listing aimed at kickstarting stalled Kremlin efforts to build a global powerhouse out of the Moscow bourse.</p> <p>The Moscow Exchange -- formed in a 2011 merger of the MICEX and RTS trading floors -- set its February 15 initial public offering price range at 55-63 rubles ($1.84-$2.10 / 1.34-1.55 euros) per share.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/moscow-exchange-sets-46-bn-ipo-target" target="_blank">read more</a></p> Business Economy of Russia Investment Stock market Technology AFP Mon, 04 Feb 2013 15:30:45 +0000 Agence France-Presse 5745458 at http://www.globalpost.com Russia exchange earns disappointing $4.2 bn valuation http://www.globalpost.com/dispatch/news/afp/130215/russia-exchange-earns-disappointing-42-bn-valuation <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The Moscow Exchange was set for a relatively disappointing flotation Friday after Russia's main trading platform was valued at $4.2 billion, well below its own valuation estimates.</p> <p>The news deals a blow to President Vladimir Putin's efforts to transform Moscow into a global financial centre and underscores analyst mistrust of a bourse now mired by low volumes and regular trading in just a few big stocks.</p> <p>The exchange -- formed in a 2011 merger of the MICEX and RTS trading floors -- had set its floatation price range at 55-63 rubles ($1.84-$2.10 / 1.34-1.55 euros) per share.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130215/russia-exchange-earns-disappointing-42-bn-valuation" target="_blank">read more</a></p> Economy of Russia Futures exchanges Moscow Interbank Currency Exchange AFP Fri, 15 Feb 2013 09:48:36 +0000 Agence France-Presse 5756435 at http://www.globalpost.com UPDATE 3-Russia central banker slams vast criminal cash export http://www.globalpost.com/dispatch/news/thomson-reuters/130220/update-1-almost-50-billion-left-russia-illegally-2012-cbank <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Half transfers controlled by "one group" -Ignatyev</p> <p>* Flight equivalent to 2.5 pct of GDP -central bank study</p> <p>* Ignatyev broadside comes before retirement</p> <p>* Kremlin "takes note" but disagrees with findings</p> <p>By Douglas Busvine and Katya Golubkova</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130220/update-1-almost-50-billion-left-russia-illegally-2012-cbank" target="_blank">read more</a></p> Asia bank Business Central Bank of Russia Corruption in Russia Earth Economy of Russia Entertainment Europe Ignatyev Labor Law Russia Sergey Ignatyev Technology Thomson Reuters Wed, 20 Feb 2013 07:30:23 +0000 Thomson Reuters 5760768 at http://www.globalpost.com Nearly $50 bn left Russia illegally in 2012: central bank http://www.globalpost.com/dispatch/news/afp/130220/nearly-50-bn-left-russia-illegally-2012-central-bank <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Russia's central bank said Wednesday that $49 billion had left the country illegally last year in a staggering capital flight equal to 2.5 percent of the country's total economic product.</p> <p>The total outflows of capital from Russia -- transactions that include tax payments and the transfer of profits made through investments -- slipped to $56.8 billion last year after reaching $80.5 billion in 2011.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130220/nearly-50-bn-left-russia-illegally-2012-central-bank" target="_blank">read more</a></p> Economy of Russia Ignatyev Law Vladimir Putin AFP Wed, 20 Feb 2013 11:31:08 +0000 Agence France-Presse 5760928 at http://www.globalpost.com UPDATE 2-Russia says central bank independence not at risk http://www.globalpost.com/dispatch/news/thomson-reuters/130226/update-1-russian-government-said-be-eyeing-seats-central-bank <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>MOSCOW, Feb 26 (Reuters) - The Russian government said on Tuesday it was seeking greater representation on the central bank's board under reforms to unify financial market oversight, but said it posed no threat to the bank's independence.</p> <p>Speaking to Reuters after reports that the government was seeking extra seats at the central bank, Deputy Finance Minister Alexei Moiseev said:</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130226/update-1-russian-government-said-be-eyeing-seats-central-bank" target="_blank">read more</a></p> bank Central bank Central Bank of Russia Central Bank of the Republic of Turkey Economy of Russia Government of Russia Thomson Reuters Tue, 26 Feb 2013 10:01:15 +0000 Thomson Reuters 5766748 at http://www.globalpost.com UK court ruling unlikely to draw line under Turkcell row http://www.globalpost.com/dispatch/news/thomson-reuters/130227/uk-court-ruling-unlikely-draw-line-under-turkcell-row <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* UK Privy Council set to rule on March 4</p> <p>* Cukurova determined to recover stake</p> <p>* Could liquidate assets including Genel Energy</p> <p>* Altimo likely to remain a shareholder</p> <p>By Asli Kandemir</p> <p>ISTANBUL, Feb 27 (Reuters) - A British court ruling next week which could help the Turkish co-founder of Turkcell recover a controlling stake may do little to end a boardroom dispute that has hobbled the firm for years.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130227/uk-court-ruling-unlikely-draw-line-under-turkcell-row" target="_blank">read more</a></p> Alfa Group Altimo Business Economy of Russia Social Issues Turkcell Thomson Reuters Wed, 27 Feb 2013 15:45:29 +0000 Thomson Reuters 5768575 at http://www.globalpost.com UPDATE 2-Putin makes aide Nabiullina Russian central bank chief http://www.globalpost.com/dispatch/news/thomson-reuters/130312/update-2-putin-makes-aide-nabiullina-russian-central-bank-chief <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Loyal technocrat lacks independent profile</p> <p>* Could move bank towards looser policy</p> <p>* Hawkish central bank insiders passed over</p> <p>By Alexei Anishchuk</p> <p>NOVO-OGARYOVO, Russia, March 12 (Reuters) - President Vladimir Putin on Tuesday chose his chief economic adviser to head Russia's central bank, backing a loyal technocrat seen as more likely to bow to political pressures to ease monetary policy than other potential candidates.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130312/update-2-putin-makes-aide-nabiullina-russian-central-bank-chief" target="_blank">read more</a></p> Economics Economy of Russia Elvira Nabiullina Ethnic groups in Asia Thomson Reuters Tue, 12 Mar 2013 20:05:50 +0000 Thomson Reuters 5781375 at http://www.globalpost.com Exclusive - TNK-BP tycoons turn to ex-BP bosses for help investing billions http://www.globalpost.com/dispatch/news/thomson-reuters/130313/exclusive-tnk-bp-tycoons-turn-ex-bp-bosses-help-investing-billi <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Melissa Akin, Katya Golubkova and Tom Bergin</p> <p>MOSCOW/LONDON (Reuters) - Representatives of the Alfa Group, set to earn billion of dollars from the sale of Anglo-Russian oil venture TNK-BP, have sounded out former BP CEOs John Browne and Tony Hayward about investing jointly in international oil projects.</p> <p>German Khan, one of four Soviet-born businessmen who shared control of TNK-BP with BP for a decade, met Browne and Hayward and other potential deal partners in London last month, sources familiar with the discussions said.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130313/exclusive-tnk-bp-tycoons-turn-ex-bp-bosses-help-investing-billi" target="_blank">read more</a></p> BP Business Deepwater Horizon oil spill Economy of Russia Thomson Reuters Wed, 13 Mar 2013 15:54:37 +0000 Thomson Reuters 5782340 at http://www.globalpost.com Cyprus, Russia discuss banking, natural gas deals http://www.globalpost.com/dispatch/news/thomson-reuters/130321/cyprus-russia-discuss-banking-natural-gas-deals <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>MOSCOW (Reuters) - Cyprus and Russia are discussing cooperation in the banking and energy sectors in addition to a loan, and any deal to solve the island's debt crisis should also be in Moscow's interests, the Cypriot finance minister said on Thursday.</p> <p>"There's a lot of teams now working on a number of issues. Banks, natural gas, are there opportunities (on which) we can base some cooperation and some support from Russia," Finance Minister Michael Sarris told reporters in Moscow.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130321/cyprus-russia-discuss-banking-natural-gas-deals" target="_blank">read more</a></p> Anton Siluanov Economy of Russia Gazprom Technology Thomson Reuters Thu, 21 Mar 2013 08:00:24 +0000 Thomson Reuters 5789586 at http://www.globalpost.com Rosneft pays out in historic TNK-BP deal completion http://www.globalpost.com/dispatch/news/thomson-reuters/130321/rosneft-says-completes-deals-acquire-tnk-bp <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Vladimir Soldatkin and Andrew Callus</p> <p>MOSCOW/LONDON (Reuters) - Russian state oil company Rosneft &lt;ROSN.MM&gt; closed its deal to buy TNK-BP &lt;TNBP.MM&gt; from UK-based BP &lt;BP.L&gt; and four tycoons on Thursday, releasing $40 billion (26.34 billion pounds) cash to the sellers and becoming a bigger oil producer than Exxon Mobil &lt;XOM.N&gt;.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130321/rosneft-says-completes-deals-acquire-tnk-bp" target="_blank">read more</a></p> BP Business Disaster Economy of Russia Energy in Russia Rosneft TNK-BP Thomson Reuters Thu, 21 Mar 2013 13:15:48 +0000 Thomson Reuters 5789885 at http://www.globalpost.com Rosneft pays out in historic TNK-BP deal completion http://www.globalpost.com/dispatch/news/thomson-reuters/130321/rosneft-pays-out-historic-tnk-bp-deal-completion <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Vladimir Soldatkin and Andrew Callus</p> <p>MOSCOW/LONDON (Reuters) - Russian state oil company Rosneft &lt;ROSN.MM&gt; closed its deal to buy TNK-BP &lt;TNBP.MM&gt; from UK-based BP &lt;BP.L&gt; and four tycoons on Thursday, releasing $40 billion (26.34 billion pounds) cash to the sellers and becoming a bigger oil producer than Exxon Mobil &lt;XOM.N&gt;.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130321/rosneft-pays-out-historic-tnk-bp-deal-completion" target="_blank">read more</a></p> Business Disaster Economy of Russia Energy in Russia Thomson Reuters Thu, 21 Mar 2013 23:45:03 +0000 Thomson Reuters 5790508 at http://www.globalpost.com