Tsipras in Russia for cheap gas and loans to ease debt burden April 7, 2015 GREEK Prime Minister Alexis Tsipras flew into Moscow yesterday with the Kremlin willing to bail out the cash-strapped EU state. Tsipras and Russian President Vladimir Putin, who are to hold formal talks and a working lunch today, are expected to sign an array of economic and commercial accords. The Kremlin meeting is also expected to [...]
One chart showing why oil prices crashed last year April 7, 2015 Higher production helped the United States extend its reign as the world's top oil and gas producer last year, but the growth spurt also contributed to the black stuff's steep decline. Oil slumped from about $115 per barrel towards the middle of last year, to as low as $45 per barrel in January, and is [...]
Greek Prime Minister Alexis Tsipras flies to Russia as talks with Brussels drag on April 7, 2015 The Prime Minister of Greece will fly into Moscow today for talks with Russian President Vladimir Putin amid ongoing concern that the Mediterranean country will run out of money this month. Alexis Tsipras' meeting had originally been scheduled for May, but has been brought forward, raising suspicions that Greece plans to gain funding from [...]
Russian billionaire Mikhail Fridman in telecoms move with Letter One Technology April 7, 2015 Russian oligarch Mikhail Fridman is preparing to expand his holdings in the telecoms market with investment vehicle Letter One. The billionaire businessman will operate the Letter One Technology platform as a private equity-style fund to invest in telecoms assets across Europe, with initial funding of $16bn (£11bn). The technology offshoot of the Letter One group [...]
Prime residential rents in luxury London apartments hit their highest in three years April 1, 2015 London’s prime residential rents have risen to their highest level in three years thanks to the improving economy and record employment levels, research out yesterday claims. Although growth in the capital slowed to just 0.5 per cent in the three months to the end of December, rents rose 3.3 per cent year-on-year – the highest [...]
Weak sales in US and Asia hit exports of Scotland’s tipple April 1, 2015 A DECADE of strong growth in scotch whisky exports came to an end last year as overseas sales fell, according to new figures. The Scotch Whisky Association announced yesterday that HM Revenue and Customs data showed exports fell seven per cent to £3.95bn in 2014. The decline was in part due to a sharp drop [...]
Holcim open to Eurocement offer April 1, 2015 SWISS cement maker Holcim is open to giving Russia’s Eurocement a seat on the board after its merger with French peer Lafarge goes through, chairman Wolfgang Reitzle said yesterday. Russian businessman Filaret Galchev, who owns a 10.8 per cent stake in Holcim via Eurocement Holding, on Sunday rejected the renegotiated merger terms that Holcim had [...]
Steel group to buy back $375m worth of shares April 1, 2015 STEEL manufacturer Evraz announced a share buy back worth up to $375m (£253m) yesterday, after revealing a loss of $1.28bn for 2014. The Russian firm, whose biggest shareholder is Chelsea FC owner Roman Abramovich, blamed currency issues in part for the hit on profits, which was more than double than the $551m loss posted in [...]
Iran nuclear talks: What’s Iran doing to make everyone think it’s trying to build a weapon? April 1, 2015 Today, world leaders are hoping to finally come to an agreement over Iran's nuclear programme. Representatives for the UK, US, China, Russia and Germany have met with Iran in Lausanne, Switzerland, to try and persuade it to curb its nuclear enrichment programme in return for an easing of economic sanctions. Iran has been accused [...]
Wealthy Russians push up rents by paying annual cost upfront March 30, 2015 WEALTHY tenants from Russia, Ukraine, Nigeria and China are pushing up high-end rents in the capital by paying for an entire year of tenancy upfront, a new study has suggested. Upmarket lettings agency EJ Harris said the number of wealthy foreign investors paying annual rents upfront had doubled in the past year, from one in [...]