Half-term holidays give a boost to Gatwick’s passenger figures December 10, 2012 HALF-TERM getaways helped Gatwick Airport post a 4.2 per cent rise in traffic during November, Britain’s second-busiest airport said yesterday. Gatwick credited the earlier autumn half-term break this year for some of the uptick, which took its passengers for the month to 2.23m. In the year to the end of November, traffic has risen 2.8 [...]
Growth gap between Europe and Asia widens December 5, 2012 THE ECONOMIC gulf between Europe and many fast-growing emerging markets widened in November, data for the service sector revealed yesterday. Eurozone members suffered further declines in business activity in services, according to business surveys from Markit and HSBC, just as services firms in China, India, Russia and the UAE raced ahead. The Eurozone services purchasing [...]
Norilsk billionaires end feud with Abramovich as enforcer December 4, 2012 TWO Russian billionaires ended a four-year battle over the world’s biggest nickel and palladium miner yesterday by giving the largest voting stake in their $30bn (£18bn) company to Kremlin-favoured tycoon Roman Abramovich. Norilsk Nickel, which mines mineral deposits in Russia, was one of the biggest prizes handed to insiders in the post-Soviet carve-up of Russian [...]
European luxury goods makers braced for a tough year in 2013 December 4, 2012 EUROPEAN luxury goods makers knocked back predictions of a boost to sales early next year, saying that economic gloom will continue to discourage shoppers from splashing out on designer dresses and leather handbags. Consultancy Bain & Co had said that sales of luxury goods should pick up steam from the second quarter of 2013 as [...]
Internet treaty talks stutter December 4, 2012 A US and European proposal to protect the internet from new international regulation failed to win prompt backing from other countries yesterday, setting up potentially tough negotiations to rewrite a new treaty. Countries such as Russia, and some in the Middle East, want to obtain powers over the internet in order to gather personal information [...]
Polymetal ups estimates at Albazino site December 3, 2012 RUSSIAN precious metals miner Polymetal said it would decide next year whether to double production capacity at its Albazino gold project in Russia’s far east after doubling its estimate of mineral resources there. “Exploration results at Albazino highlight the tremendous potential of this asset and pave the way for the expansion decision to be taken [...]
BP sees off TNK-BP shareholder claim as it sets out new strategy December 3, 2012 MINORITY shareholders in Anglo-Russian oil firm TNK-BP are withdrawing a 100bn rouble (£2.01bn) damages suit against BP after the main stakeholders agreed last month to sell their stakes to Russia’s Rosneft. A Siberian court in July awarded the damages against the British oil major in a case brought by a group of minority shareholders in [...]
Megafon rises above $20 as it is fast-tracked into Russia’s MSCI November 29, 2012 SHARES in Megafon, the Russian mobile telecoms group controlled by Arsenal stakeholder Alisher Usmanov, rose above the $20 issue price yesterday on news that the stock would be fast tracked into the main Russian stock market index, the MSCI. Normally the MSCI requires three months of trading history for a company that has just floated, [...]
Kcell and Megafon shrug aside Goldman Sachs effect November 29, 2012 In the end, the decision by Goldman Sachs to extricate itself from a leading position on the syndicate of banks advising Russia’s leading mobile telecoms group Megafon on its £7bn London and Moscow flotation didn’t turn out to be fatal. And although Goldman didn’t advise on the London flotation of Kazakhstan-based telecoms group Kcell, fears [...]
London rejoices as Megafon IPO defies the odds November 28, 2012 MEGAFON, the mobile telecoms group controlled by Russia’s richest man, Alisher Usmanov, became the second largest share offering in Europe this year as it raised $1.7bn (£1.06bn) yesterday in London and Moscow despite concerns which had earlier led Goldman Sachs to step aside from the deal. The deal was assisted in its final stages by [...]