Russia 110215 Basic Political Developments
Business, Energy or Environmental regulations or discussions
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- Rusal: Not Seeking To Ban All Interros Shares From Voting
- For the Record
- Sberbank Pays Record $28 Million Quarterly Bonus, Vedomosti Says
- Russias Sberbank shells out $34 mln for 2010 bonuses
Business, Energy or Environmental regulations or discussionsMMK approves exchange bonds offering http://www.rbcnews.com/free/20110215105508.shtml RBC, 15.02.2011, Moscow 10:55:08.The board of directors of Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has approved a public offering of ten exchange bond issues worth a total of RUB 50bn (approx. USD 1.709bn), according to the company's documents seen by RBC today. Each issue is worth RUB 5bn (approx. USD 171m) and has a maturity of three years. The bonds can be redeemed ahead of schedule at the request of bondholders and subject to the decision of the issuer. The bonds are to be placed at face value - RUB 1,000 (approx. USD 34) per bond. Rusal: Not Seeking To Ban All Interros Shares From Votinghttp://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201102150315dowjonesdjonline000059&title=rusalnot-seeking-to-ban-all-interros-shares-from-voting Feb 14, 2011 MOSCOW -(Dow Jones)- Aluminum company United Co. Rusal (0486.HK) denied late Monday the statement of Russian mining giant OAO Norilsk Nickel (GMKN.RS) that it is seeking to ban Norilsks' largest shareholder, Interros, from voting at an extraordinary shareholder meeting March 11. Norilsk, the world's No. 1 nickel producer, is a prize in a battle between two Russian billionaires--tycoon Vladimir Potanin and Oleg Deripaska. Deripaska is chief executive and controlling shareholder of Rusal which owns 25% of Norilsk; Potanin owns just below 30% of Norilsk through his Interros holding company. At a shareholders' meeting June 2010, Norilsk management--which sides with Potanin--won seats at the expense of Rusal. The meeting also saw the chairman, who was supported by Rusal, evicted. Ever since, Rusal has been trying to reverse the situation and has called for an extraordinary general meeting, or EGM, on March 11. According to a Norilsk statement, Rusal is seeking to ban two Norilsk subsidiaries--Interros and commodity trader Trafigura Beheer NV, which bought 8% of Norilsk shares in December--from voting at the EGM. However Rusal said later this statement "inaccurately portrays" the company's intention. Rusal said it "seeks only to enjoin the voting of shares by Norilsk's subsidiaries, including those recently acquired in the buyback and those sold in the Trafigura transaction." "The injunction being sought...would apply to...Interros, to the extent that it may seek to vote any of those additional shares", Rusal said, adding it is not seeking to "enjoin the 25% plus 1 share in Norilsk held by Interros." -By Alexander Kolyandr, Dow Jones Newswires; +7 495 232 9192; Alexander.Kolyandr@dowjones.com For the Recordhttp://www.themoscowtimes.com/business/article/for-the-record/431028.html 15 February 2011 RTS will start trading futures contracts tied to a basket of government ruble bonds Thursday, allowing investors to hedge against interest-rate changes, according to an e-mailed statement from the exchange Monday. (Bloomberg) VTB Observation Council approves purchase of Bank of Moscow http://www.itar-tass.com/eng/level2.html?NewsID=15954487 15.02.2011, 09.56 MOSCOW, February 15 (Itar-Tass) --A meeting of the Observation Council of the VTB Bank, held on Monday, has adopted a resolution, which gave instructions to the VTB management to hold talks for the purpose of a stage-by-stage entry of VTB in the authorized capital of the joint-stock commercial Bank of Moscow, with a final aim of acquiring 100 per cent of its shares, says a report of the VTB Bank. According to VTB CEO Andrei Kostin, “the purchase of the Bank of Moscow is in line with the VTB strategy, entitled ‘Road towards 15’, which provides for the growth of capitalization and efficiency of the Group.” VTB believes that the purchase of the Bank of Moscow opens up broad prospects from the point of view of the consolidation of its positions in the corporate sector and the development of retail operations. VTB will be able to consolidate its presence in the Russian banking sector, including in the highly profitable Moscow Region, to gain access to the Moscow Government, which is the biggest client, to perceptibly expand the network of the Group, to increase the number of services offered by it to the corporate clients and to strengthen VTB positions with regard to deposits. The Group has purchased 13 banks since 2002, including two in Russia (Guta-Bank and Promstrojbank), six in Europe and five in CIS. Several major projects for reorganising business were put into effect, including the current integration of VTB North-West, the migration of the retail business from VTB to VTB 24, the merger of two subsidiary banks in Ukraine and the creation of a centralized European sub-holding, PRIME-Tass reports.
By Henry Meyer Feb. 15 (Bloomberg) -- OAO Sberbank, Russia’s biggest lender, paid out a record 816 million rubles ($28 million) in bonuses in the fourth quarter, Vedomosti reported, citing company documents. The state-run bank paid out a total of 985 million rubles for the year, more than double the amount in 2009 and 5 percent more than in 2008, the Moscow-based newspaper said today. Click here for web link To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net Last Updated: February 15, 2011 00:37 EST Russia's Sberbank shells out $34 mln for 2010 bonuseshttp://www.forexyard.com/en/news/Russias-Sberbank-shells-out-34-mln-for-2010-bonuses-2011-02-15T063000Z Tuesday February 15, 2011 12:30:06 AM GMT RUSSIA/SBERBANK * 2010 top management rewards surpass pre-crisis levels * Bonuses double to almost 1 bln roubles from 480 million in 09 * State lender's profit rose eight fold in 2010 from 2009 By Oksana Kobzeva MOSCOW, Feb 15 (Reuters) - Russia's biggest lender, Sberbank paid out almost 1 billion roubles ($34.13 million) in bonuses for 2010 as the government continues to discuss how to regulate rewards for the top management at state-owned banks. According to the bank's fourth quarter earnings statement, management bonuses doubled to 984.8 million roubles in 2010 from 480.3 million roubles in 2009. In 2010 the bank's profit rose eight fold from the previous year to 184 billion roubles. The bonus levels for 2010 surpassed pre-crisis levels. In 2008, the bank awarded managers 933.6 million roubles on profit of 108 billion roubles. During the financial crisis Sberbank received 500 billion roubles in subordinated loans from the Russian government of which it has so far returned 200 billion roubles. For more than a year the government has said it will develop guidelines for top management bonuses at state-controlled companies and introduce options programmes for state bankers, but no decisions have been taken as of yet. ($1=29.30 Rouble) (Reporting by Oksana Kobzeba; Writing by Jessica Bachman; Editing by Hans Peters) 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 297.4 Kb. Share with your friends:
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