Pellegrini blasts Moscow pitch October 22, 2013 FOOTBALL: Manchester City manager Manuel Pellegrini has labelled CSKA Moscow’s pitch “unbelievable” ahead of tonight’s Champions League match. The Russians have not played there since August due to bad weather but it has been passed fit for use by European chiefs Uefa.
Float of Tinkov credit firm to raise $1.1bn October 21, 2013 RUSSIAN entrepreneur Oleg Tinkov’s consumer credit provider TCS is aiming to raise around $1.1bn (£680m) in its forthcoming London flotation – higher than the $870m previously expected, a financial market source said yesterday. TCS Holding Group, owner of Tinkoff Credit Systems, has rivalled state-controlled banks and grabbed market share in the high-margin business of consumer [...]
What the other papers say this morning – 18 October 2013 October 17, 2013 FINANCIAL TIMES Tele2 sale lifts Russian hopes VTB has sold 50 per cent of mobile operator Tele2 Russia to billionaire Yuri Kovalchuk and partners, paving the way for the creation of a much stronger fourth competitor in Russia’s mobile market. The deal comes six months after VTB, Russia’s second-largest bank, acquired the Russian arm of [...]
Weak markets hit Severstal sales October 17, 2013 Russian steel miner Severstal yesterday said that third-quarter crude steel production was in line with the previous quarter, but sales had decreased by four per cent due to “slightly weaker domestic and export markets”. Prices for steel products decreased by between one per cent and 18 per cent in the third quarter, the company said. [...]
Evraz sells off coal mine for £195 October 15, 2013 FTSE 250-listed Russian steelmaker Evraz yesterday confirmed it has agreed to sell the Gramoteinskaya thermal coal mine to Lehram Capital Investments for just 10,000 roubles (£194.50), as part of its strategy to divest non-performing assets. The mine posted pre-tax losses of $19m (£11.9m) last year. Evraz is focusing on developing coking coal mines and sees [...]
What the other papers say this morning – 15 October 2013 October 14, 2013 FINANCIAL TIMES Twitter aims to sell ads on other sites Twitter is planning to mine data about its users to help sell advertising on other mobile apps or websites, as it tries to find new sources of revenue in the run up to a stock market listing that could value the company at $15bn. Moscow [...]
UK court throws out a libel claim against Browder October 14, 2013 THE High Court yesterday threw out a libel suit brought against British investment fund manager Bill Browder by a Russian former police officer who denies allegations that he played a part in the death of the lawyer Sergei Magnitsky. Pavel Karpov, a former Russian Interior Ministry investigator who is on the so-called Magnitsky list of [...]
Russian credit card float to aid Goldman coffers October 14, 2013 GOLDMAN Sachs is set to net a multi-million dollar windfall after its stake in Russian credit card firm TCS Group was priced at the upper end of the range for a forthcoming float in London. TCS, which offers credit cards to people living in rural Russia, is offering global depository receipts (GDRs) at $14 to [...]
Nord Gold output rises by 26pc October 14, 2013 Russian gold miner Nord Gold yesterday said its revenues rose one per cent in the third quarter to $325m (£203m) year-on-year, as higher gold production offset lower global prices. Nord Gold, controlled by businessman Alexei Mordashov, said its output increased by 26 per cent, but the average gold price fell 21 per cent to $1,325 [...]
Apec vows to boost trade as slump forecast October 8, 2013 LEADERS of countries in the Asia-Pacific Economic Co-operation (Apec) group pledged to offset weaker growth in trade yesterday, even as the International Monetary Fund (IMF) sliced forecasts for commerce. In a prepared statement, the countries meeting in Indonesia said: “Global growth is too weak, risks remain tilted to the downside, global trade is weakening and [...]