Russia 110705 Basic Political Developments
Russia May Slow Electricity Price Rises Through 2014-Report
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- Russian econ ministry readies alternative tariff-hike plan pegged to inflation
- Russia EconMin to offer 12.5 pct rise in gas tariff
- Uralkali Shares Rise Most in Week on Higher MSCI Index Weighting
- Russias Utinet seeks $14 million via Moscow IPO
Russia May Slow Electricity Price Rises Through 2014-Reporthttp://english.capital.gr/News.asp?id=1232338 MOSCOW -(Dow Jones)- Russia's Ministry of Economy may slow down rises in electricity prices for industrial consumers between 2012 and 2014, Deputy Economy Minister Andrei Klepach said Tuesday, according to the Interfax news agency. In 2012, price rises may be kept between 10% and 11%, down from a previously approved 13% cap, Klepach said. In 2013, price rises may be capped to between 7% and 10%, against the earlier 12% ceiling, the official added, while in 2014, prices may be kept between 9% and 11% instead of the earlier 9.5% growth ceiling. The suggestions are aimed at curbing inflation and require further government approval. News Agency Web site: www.interfax.ru July 05, 2011 12:11 Russian econ ministry readies alternative tariff-hike plan pegged to inflationhttp://www.interfax.com/newsinf.asp?id=256852 MOSCOW. July 5 (Interfax) - Russia's Economic Development Ministry has drawn up an alternative plan for hiking tariffs that ties them to the inflation level, but is saying this should not be considered a basis for working up a budget for the country, Deputy Economic Development Minister Andrei Klepach told the press on Tuesday. This alternative tariff scenario aims at appreciably lowering the rate of gas-price growth for industry, Klepach said. In 2012, the gas-price growth rate could be 6% (instead of the planned 15%), in 2013 - 5.5% (15%), in 2014 - 5% (15%). The pace of the tariff increase for railway freightage next year could be 6% under the alternative plan (7.4% proposed), in 2013 - 5.5% (6.4%), in 2014 - 5% (5.5%). The rate of growth among tariffs and market prices for electricity for industry next year could be 4%-6% (14%-15% planned earlier), in 2013 - 4%-6.5% (17%-18%), in 2014 - 4%-6.5% as well (16%-17%). In the event that this alternative scenario is adopted, Klepach said, the level of inflation could be lower than previously targeted by three percentage points annually. Cf (Our editorial staff can be reached at eng.editors@interfax.ru) Russia EconMin to offer 12.5 pct rise in gas tariffhttp://af.reuters.com/article/energyOilNews/idAFLDE76408Z20110705 Tue Jul 5, 2011 7:28am GMT MOSCOW, July 5 (Reuters) - Russia's Economy Ministry is set to offer to cap domestic gas price rises at 12.5 percent in 2012 compared to a previously expected 15 percent, Deputy Minister Andrei Klepach told reporters on Tuesday. Earlier, the ministry offered to cap the increase by either 15 percent or by the level of projected yearly inflation of around 6 percent. (Reporting by Maya Dyakina; writing by Vladimir Soldatkin, Editing by John Bowker) Ministry proposes 2 gas tariff hikes in 2012 http://www.rbcnews.com/free/20110705120625.shtml RBC, 05.07.2011, Moscow 12:06:25.The Economic Development Ministry has proposed hiking natural gas tariff in two stages during 2012, Deputy Economic Development Minister Andrey Klepach told reporters today. The tariff could be raised by 5% in January and 9.5% in April for both industrial consumers and households. The ministry also proposes lowering the growth rate of electric power tariff in 2012-2014, Klepach said. Under the first option, electric power tariffs are expected to grow 4%-6% in 2012 instead of the 15%-16% earlier approved by the government, 4%-6.5% in 2013 instead of the currently planned 17%-18% and 4%-6.5% in 2014 instead of 16%-17%. Under the second option, electric power tariffs could go up 10%-11% in 2012, 7%-10% in 2013, and 9%-11% in 2014.
OAO Uralkali (URKA), the world’s largest potash producer by output, jumped the most in a week after MSCI Inc. said it will increase the company’s weighting in its Russia Index as of the close of trading on July 6. Uralkali’s shares jumped as much as 3.2 percent and traded 2.4 percent higher at 248.47 rubles by 10:49 a.m. in Moscow, its biggest intraday gain since June 28. The company’s weighting will rise to 4.3 percent from 2.7 percent, Andrey Amelin, an analyst at VTB Capital in Moscow, said today in a note, based on the information in the MSCI report. Inflows into the stock from funds tracking the MSCI Russia Index may amount to $190 million, he said. The decision to increase Uralkali’s weighting comes after the company acquired its competitor OAO Silvinit, MSCI Inc. (MSCI) said in a statement e-mailed yesterday after the end of trading. To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
* Online retailer begins roadshow ahead of float * Sets price range of 145-195 roubles per share * Says IPO will offer discount to company's fair value MOSCOW, July 5 (Reuters) - Russian online retailer Utinet.ru will start a roadshow on Tuesday for a planned initial public offering in Moscow, seeking to tap into recent demand for Russian internet stocks. The company said it would sell 2 million shares or 10 percent of its equity at between 145 and 195 roubles each, generating proceeds of up to 390 million roubles ($14 million) to be invested in the business. It added that although the IPO would put a value on Utinet.ru of nearly 4 billion roubles, float organisers Finam had valued the company at up to 13.8 billion. "Starting from the proposed price range for the offering, the issuer's shares have a high potential for value growth," the company said in a statement. Utinet.ru is hoping to replicate the IPO success of fellow Russian internet companies Mail.ru (MAILRq.L: Quote, Profile, Research, Stock Buzz) and Yandex , albeit on a far smaller scale. Uralsib analyst Konstantin Chernyshev said in a note Utinet had significantly scaled back its valuation hopes since its IPO plans were first mooted, but added that its position as the sixth largest player in the market could send warning signs. "Participation in Utinet.ru's IPO may offer investors exposure to the rapid growth of the Russian online retail market, but we consider it risky ... given the strong competition and low barriers to entry to the online retail market," he said. Russian companies have raised nearly $4 billion via IPOs in the year to date, compared with $5.5 billion in 2010 as a whole. (Reporting by John Bowker; Editing by David Holmes) ($1=27.86 Rouble) Sberbank may be close to buying Volksbank International http://www.bne.eu/dispatch_text16081 Troika Dialog
Kommersant today suggested that Sberbank could sign a term-sheet agreement with Austria's Volksbank over the purchase of a 51% stake in its subsidiary, Volksbank International. The paper cites sources close to the deal that stated, after final due diligence, that it may be signed by July 15. The price could be EUR700 mln, excluding the Romanian business (as was previously suggested), which would imply a price of approximately book value. Troika's view: While a small deal in absolute terms (ex-Romania, about 3-4% of Sberbank's assets), we remain unconvinced about Sberbank moving into Eastern Europe at this time, and would rather see management focusing on the Russian and CIS business. Andrew Keeley NLMK seals deal to increase rolling capacity by 20% http://www.bne.eu/dispatch_text16081 Aton
NLMK announced yesterday (4 July) that it has concluded its acquisition of the remaining 50% in its Duferco JV. This, we argued previously, was one of the key value triggers for the stock, which would effectively increase their steel rolling capacity by around 20% (roughly 2.5 mntpa), cutting the company's exposure to the volatile slab market and allowing it to re-roll its growing steel output into higher margin products. The assets will be consolidated within NLMK group financially from 1 July 2011. Evraz to buy back unconverted Eurobonds http://www.rbcnews.com/free/20110705110750.shtml RBC, 05.07.2011, London 11:07:50.Evraz Group intends to repurchase all Eurobonds from its $650m issue, which are not swapped for Global Depositary Receipts (GDRs) before July 26, the mining and metals company said in a statement today. Evraz is swapping 99.7% of the issue for GDRs. It will pay investors a premium of $158.3m. The company will issue 30.67m GDRs, which correspond to 10.22m new shares, for the swap deal. In addition to the premium, Evraz will make a coupon payment of $9.26m. The 5-year Eurobond was placed in 2009 with a coupon rate of 7.25% Directory: gifiles -> attach attach -> British Forces – Akrioti, Greece Griffin Fighter Squadron (84 Squadron raf) MoD announced possible Typhoon and Tornado arrivals to the base France attach -> Russia 110204 Basic Political Developments attach -> Unclassified//for official use only attach -> Adaptability Sustainment attach -> Pop-up 1 ("C" Chechnya) Header Text: Emir of the Caucasus Emirate Doku Umarov Image attach -> Russia and Islam are not Separate attach -> Chapter 13: The Northern Caucasus attach -> Russia 100209 Basic Political Developments attach -> The evolution attach -> The devolution Download 320.43 Kb. Share with your friends:
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