Ukraine vote on jailed leader slams brakes on EU trade deal November 21, 2013 A PROSPECTIVE trade deal between Ukraine and the European Union was quickly scratched yesterday, following a vote over the jailing of opposition leader Yulia Tymoshenko. The Ukrainian parliament voted down a bill that would have released Tymoshenko to leave Ukraine, a prerequisite for the agreement with the EU. The move came only hours after Russian [...]
Raven Russia says it’s nearly full November 18, 2013 Booming demand for warehouse space in Moscow and St Petersburg has helped Raven Russia post strong results in the third quarter of the year. The London-listed firm that supplies warehouse space for big blue-chip companies in Russia said over 97 per cent of its 1.4m square metre portfolio is let thanks to a squeeze in [...]
Orders at Kentz surpass £1bn to keep construction firm on track November 18, 2013 FTSE 250-listed construction firm Kentz yesterday said it is trading in line with expectations and reiterated its guidance of double-digit earnings growth this year. The company – which rejected two takeover approaches this summer, including one from larger peer Amec – reported an order intake of $1.8bn (£1.1bn) for the first ten months of the [...]
Tinkoff looking for calm after Friday sell-off November 18, 2013 MOVES by a Russian MP to clarify changes in the country’s consumer lending laws are expected to soothe investors’ fears about London listed TCS Group, after its shares halved in trading. Shares in the Russian firm, which were floated at $17 by Morgan Stanley, Goldman Sachs and Sberbank last month, fell as low as $8 [...]
Thai visitors among the UK’s big shopper league this Christmas November 18, 2013 WEALTHY foreign visitors are expected to keep Britain’s tills ringing over the crucial Christmas period, with spend from Thai tourists outpacing all other nationalities so far this year. Thai visitors are the fastest growing consumers of luxury goods in the UK this year so far, with spending up 53 per cent compared to the 37 [...]
Warm weather helps can firm Rexam despite tough economy November 14, 2013 DRINKS can maker Rexam said yesterday that third-quarter global beverage cans volume rose three per cent, helped by a hot summer in western Europe, but the gain was partially offset by weakness in Russia, Egypt and Turkey. Rexam, which counts Coca-Cola, Pepsi, Red Bull and Heineken among its customers, said it sees challenges in Europe, [...]
Growth set to gain momentum in developed economies says OECD November 12, 2013 Growth in developed countries increased in September with the recovery in the Eurozone "gaining momentum," according the Organisation for Economic Co-operation and Development. The Composite Leading Indicator (CLI), intended to detect turning points in economic activity, show growth is above trend in Japan and is strengthening in the UK. Growth in the US is around [...]
AstraZeneca pledges to invest £120m in UK cancer drug factory November 12, 2013 ASTRAZENECA said yesterday it would invest £120m in a new facility at its global manufacturing site in Macclesfield, in the north west of England, to continue production of prostate cancer drug Zoladex. The medicine is the company’s fifth largest selling brand with annual sales of around $1bn. Zoladex has been manufactured at AstraZeneca’s Macclesfield plant [...]
EBRD cites oil price as it cuts Russia outlook November 11, 2013 THE EUROPEAN Bank for Reconstruction and Development (EBRD) cut its 2013 and 2014 growth forecasts for central and eastern Europe and North Africa yesterday, citing weak external demand and unfinished structural reforms. The EBRD’s forecasts for its regions of operation included a drop of half a percentage point for the biggest economy, Russia. “Potential growth [...]
Zhaikmunai’s £1.5bn London float imminent November 11, 2013 KAZAKH oil and gas explorer Zhaikmunai’s long-awaited £1.5bn London flotation may launch as soon as this month, City A.M. understands. A final decision on the timeframe has not yet been made, but it is thought that the company could feasibly list on the main segment of the London Stock Exchange in the next few weeks. [...]