Medvedev bid to lure finance firms to Russia January 26, 2011 RUSSIAN President Dmitry Medvedev launched an audacious bid to lure financial services to Moscow in his speech at the World Economic Forum at Davos last night, promising minimal regulation and support for risk-taking. Speaking the day after 35 people were killed in Moscow Domodedovo airport by terrorists, he began by thanking other world leaders for [...]
BUSINESSES AND INDIVIDUALS NEED LONG TERM PLANS January 26, 2011 GROUP CHIEF EXECUTIVE, AVIVA AS INSURERS, we’re here to help secure our customers’ financial futures and we understand the responsibility that comes with that. Ours is a long term business. We have to be there for our customers throughout their lifetimes, and beyond. So inevitably the sustainability of our business is a key priority for [...]
Costly case of mistaken identity January 26, 2011 “THERE’S a whole ocean of oil under our feet! No one can get at it except for me!” So screams Daniel Day Lewis as Plainview in Paul Thomas Anderson’s film There Will be Blood. Until yesterday, Heritage was on the verge of a similarly huge find in the semi-autonomous Iraqi region of Kurdistan. Heritage did [...]
What the other papers say this morning January 25, 2011 FINANCIAL TIMES RUSSIANS PREPARE FOR LISTING SPREE IN LONDON Four industrial and mining companies from Russia are set to list in London within the next few weeks, the first in a string of companies from the country rushing to raise an estimated $15bn-$20bn (£9.5bn-£12.7bn) this year. The companies are taking advantage of a narrow window [...]
Two Britons reported dead among Moscow airport blast January 24, 2011 TWO BRITONS ARE said to be among the dead after a suspected suicide bomb attack at Moscow’s largest airport yesterday killed at least 35 people and injured more than 100. The attack took place at the Russian capital’s Domodedovo airport at around 16:30 local time. Russian president Dmitry Medvedev vowed to punish the attackers.
Russia’s Koks prices its IPO January 24, 2011 RUSSIAN coking coal and pig iron producer Koks will seek to raise around $520m (£325m) in its IPO, landing a windfall for its owners and kick-starting a stampede by Russian firms to the stock market. The Siberia-based company, which is planning to list existing shares in both London and Moscow, said the offering could make [...]
Medvedev delays Davos trip due to terrorist blast January 24, 2011 RUSSIAN president Dmitry Medvedev has delayed his trip to the World Economic Forum in Davos this week due to a suicide bomb at Moscow’s Domodedovo airport that killed 35 people yesterday. The president swore to hunt down the culprits, writing on Twitter: “Security will be strengthened at large transport hubs. We mourn the victims of the [...]
What the other papers say this morning January 23, 2011 FINANCIAL TIMES AUDITORS SEEK TO EASE FEARS The four biggest auditors have denied that their dominance of the market for large companies had created a systemic risk akin to that posed by the leading banks. Deloitte, Ernst & Young, KPMG and PwC have told the European Commission that they are willing to help draw up [...]
Hayward in talks to join Glencore board January 23, 2011 FORMER BP chief executive Tony Hayward is in early talks about joining the board of commodities trader Glencore as part of its planned initial public offering, it emerged yesterday. Hayward, who is a non-executive director for Russian oil venture TNK-BP, recently met with Glencore chief executive Ivan Glassenberg to discuss taking a non-executive role, according [...]
Inter RAO hunts for investors January 20, 2011 INTER RAO could seek a strategic investor for a 25 per cent stake and may also consider share swaps as it continues to grow, the Russian state-controlled group’s head Boris Kovalchuk said yesterday. The electricity generator and power trader is being used by Russia as a home for billions of dollars of assets as the [...]