The Court Of Hamburg Rules To Ban Distribution Of Nikolay Maximov's Allegations
The Court of Hamburg has issued a ruling banning the publication of Nikolay Maximov’s false claims made in an interview to the German business weekly Wirtschaftswoche in December 2010.
The Court analyzed the interview and found no evidence in favor of Mr Maximov’s allegations. The Court decisions emphasizes that his claims are lacking factual integrity, and that the article is clearly one-sided and biased. The way the journalist interpreted these claims clearly indicates that he was looking to discredit NLMK.
Mechel Reports Financial Results For 2011: Revenue Up to $12.5 billion
Russian mining and steel company Mechel had announced financial results for the full year 2011. Revenue amounted to $12.5 billion, consolidated adjusted EBITDA amounted to $2.4 billion, net income attributable to shareholders of Mechel OAO amounted to $728 million.
Mechel’s Chief Executive Officer Yevgeny Mikhel commented on the 2011 financial results: “On the whole, last year was quite successful for the Group. Despite difficulties with economic development in many countries that are traditional customers of Mechel’s products, volatility in the financial markets and ambiguous price dynamics for our company’s key products, we not only managed to implement a fairly large-scale investment program and advance on our key projects, but also improve on the previous year’s main financial parameters. In that, a major role was played by the company’s competitive advantages such as a full range of coal and steel products offered by our sales branches, expansive geographical presence and the leading positions maintained by the company’s divisions in their market segments, supported by the holding’s integrated structure.”
Aeroflot Fired The Employee For Aggressive Twitter Post About Recent Superjet Crash
On May, 11 flight attendant of the Aeroflot company Ekaterina Solovieva was fired after the company found her tweet with a grim joke comment about the crash of Russian airliner Sukhoi Superjet-100 in Indonesia. Company had put a reference to the dismissal order on the official Twitter page of the company.
Currently, Solovieva’s tweet was removed, but the blogs section of Russian search engine Yandex kept a reference to her post "A Superjet collapsed? Hahaha! Shit-machine! It is a pity the plane was not the Aeroflot’s one, it would be one less for company to fly, and maybe they would sell them back to someone. " The author of the post acknowledged that she "loves black humor."
TogliattiAzot Faces Minority Shareholders Claim And Potential Examination By Russian Ecological Watchdogs
Investment in Russia has been always treated as unsafe. Only those, who perceived themselves to be absolutely familiar with Russian political situation and balance of powers between business elites dare to make large stakeholder investments in Russian businesses. And even if you do understand who is managing the enterprise you are investing in and what his relations with fellow Russian “oligarchs” are it is still better to check about his relations with Kremlin officials, as these fellows are the final decision-makers when it is concerned the safe future of your investment.
Eurotoaz Limited, a minority shareholder in TogliattiAzot (ToAZ), a Russian chemical company, sometimes described as the world's largest ammonia producer which headquartered in Tolyatti, Russia, has done almost zero homework described above, or just by the occasion got to the very common situation, especially for Russia, when you own something and don’t control or able to operate it at the same time. Eurotoaz has got a 10% stake in ammonia combine in return for almost $20 million investments made in 1994-1996, but the its name has simply disappeared from the registry of shareholders.
Mechel Gets 500 Million To Develop Its Coal Assets
Russian mining company Mechel announces the signing of long-term loan facilities with Gazprombank on providing credit lines to Yakutugol Holding Company OAO and Southern Kuzbass Coal Company OAO in the aggregate amount of 500 million US dollars.
Gazprombank provided Mechel Mining OAO’s enterprises with credit lines totaling 500 million US dollars. The new loan facilities include a five-year tenor with a three-year grace period.
Oleg Deripaska Reveals He Had To Pay Russian Mafia To Protect UC Rusal
A publication by The Telegraph reporter Kamal Ahmed, named “Oleg Deripaska: Why I paid crime gangs for protection” has made the big buzz among international financial circles. Not that nobody knew, that Russian economy in the 1990’s was heavily criminalized and in order to survive those, who were attempting to build empires these days had to involve themselves into shady arrangements.
Oleg Deripaska, the billionaire and chief executive of aluminium producer UC Rusal, reveals why he was forced to pay crime gangs for protection, talks of threats to his life and explains why Russia is now a far cleaner economy . In his first in-depth interview Mr. Deripaska has disclosed for the first time his role in the infamous “aluminium wars” of the 90’s, when the Russian privatisation of state commodity assets led to a battle for control over plants and production worth billions of pounds of profit to those who succeeded.
NLMK Issues 1Q2012 Trading Update Showing Strong Sales Growth
NLMK, the LSE-listed Russian steel producer, today announces the following regular trading update for 1Q2012. The Group's steel output increased 14% q-o-q to 3.6 million t, which corresponds to over 90% utilisation rate, as the new BF-7 at Novolipetsk (NLMK’s main production site in Lipetsk) gradually increased its capacity load and the second EAF at NLMK Long Products was re-launched following transformer repairs in January 2012.
Consolidated sales grew 6.4% q-o-q to 3.8 million t. Flat steel sales increased by 13.7%, and long steel sales, including metalware, grew 16.7%. 35% of the Q1 total, or 1,307 million t, were sold domestically (+2% q-o-q).
VTB Bank Extends Credit Facilites For Mechel
Russian metal and mining company Mechel announces the extension of credit facilities totalling 13.6 billion rubles (approximately $462 million) previously obtained from VTB Bank for Mechel’s enterprises.
Subsidiaries of Mechel Mining, which is part of Mechel Group, and VTB Bank signed amendments to the credit facilities, extending the maturities by three years until 2015.
United Grain Company Attracts Buyers Interest While Talks About Privatization Emerge
Russian government had just recently started talks about possible privatization of the state owned grain trade, and already France’s Louis Dreyfus, Russian investment group Summa and four other Russian firms may vie for a large stake in the company, government-owned United Grain Co. (UGC), two sources familiar with the matter told Reuters on Tuesday.
For Dreyfus, winning the stake in UGC would sharpen its competitive edge among the world’s top grain traders, while Summa would vault into a hugely influential position as Russia is poised to become the world’s second-largest wheat exporter this year, recovering from 2010’s drought.
Deripaska’s Lawyers Triggering Contempt Of Court Investigation In New York And Prepare Themselves To Fight Back Veksleberg Over Rusal Metal Sales
Business newswires had reported today that the conflict between main UC Rusal shareholders — Oleg Deripaska and Viktor Vekselberg had finally turned into another legal litigation. SUAL Partners, a company which represents Vekselberg and his partner Leonard Blavatnik in Rusal had launched legal action over a $47 billion supply deal struck between UC Rusal and commodities trader Glencore, which also owns Rusal shares.
Sual Partners, which owns 15.8% of Rusal, arguing its right to veto the metal sales deal. The case will go before the London Court of International Arbitration (LCIA), a disputes resolution forum provided for in the Rusal shareholders' agreement.
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The Court Of Hamburg Rules To Ban Distribution Of Nikolay Maximov's Allegations
Thursday, May 17, 2012 at 5:07 pm -
Mechel Reports Financial Results For 2011: Revenue Up to $12.5 billion
Tuesday, May 15, 2012 at 4:39 pm -
TogliattiAzot Faces Minority Shareholders Claim And Potential Examination By Russian Ecological Watchdogs
Thursday, May 3, 2012 at 12:22 pm -
NLMK Issues 1Q2012 Trading Update Showing Strong Sales Growth
Thursday, Apr 19, 2012 at 9:57 am -
United Grain Company Attracts Buyers Interest While Talks About Privatization Emerge
Thursday, Apr 12, 2012 at 12:30 pm
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Aeroflot Fired The Employee For Aggressive Twitter Post About Recent Superjet Crash
Friday, May 11, 2012 at 10:00 am -
Mechel Gets 500 Million To Develop Its Coal Assets
Thursday, May 3, 2012 at 9:00 am -
Oleg Deripaska Reveals He Had To Pay Russian Mafia To Protect UC Rusal
Thursday, Apr 26, 2012 at 1:23 pm -
VTB Bank Extends Credit Facilites For Mechel
Monday, Apr 16, 2012 at 9:27 am -
De Beers Distribution Announces The Start Of 2012-2015 Supplier of Choice contract
Monday, Apr 2, 2012 at 11:15 am
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9th Annual Russian Securities Forum
Jun 6-7, 2012
