Search Results for: Russia

BY KEITH NUTHALL
2) An ageing, rusty Russian oil tanker has left Latvia, despite European protests. Spain and the European Commission, which have expressed grave fears about the single-hull Geroi Sevastopolya, had asked the Baltic state to halt its departure from the Ventspils port and immediately adopt an EU ban on such vessels.…

BY MARK ROWE
IKEA’s store in the Russian city of St. Petersburg will undergo an environmental audit to avert the threat of closure by the country’s Natural Resources Ministry. Facing the unlikely scenario of the Swedish furniture giant having to close a branch by breaking Russian environmental laws, IKEA has hired a firm to conduct the audit to comply with state regulations.…

BY MARK ROWE
RUSSIA is lifting export duties on unalloyed aluminium and primary aluminium alloys. The export duty on raw aluminium will amount to 5 per cent, while unalloyed aluminium and primary aluminium alloys will be exported duty free, according to a statement issued by the Russian government’s information department.…

BY KEITH NUTHALL
EUROPEAN Union (EU) ministers have been asked by the European Commission to impose definitive anti-dumping duties of 23.6 per cent on imports from Russia of imports of silicon (with silicon content less than 99.99 per cent by weight).…

BY MARK ROWE
The Russian book market saw brisk business in the run up to Christmas, with the heavyweights of Russian literature holding their own against the increasing popularity of modern literature, particularly a number of new works by female authors.…

Keith Nuthall
THE EUROPEAN Bank for Reconstruction and Development (EBRD) has drawn up plans to lend up to US$12.25 million to JSC Narzan, a leading Russian mineral water producer, based in Kislovodsk, the Stavropol region. The financing would help Narzan expand bottling capacity, develop new products and satisfy working capital needs, said an EBRD memorandum.…

BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction and Development (EBRD) is teaming up with Japanese-owned Sumitec International to create a US$45 million facility, providing lease financing for Russian companies expanding or modernising their mining equipment. The scheme will especially focus on Siberia and other far-east regions of Russia, which – said a bank memorandum – “are currently under-serviced by the leasing industry.”…

BY MARK ROWE
RUSSIA’S Urals Mining and Metals Company (UGMK) has bought the nation’s second largest zinc smelter, Elektrotsink. UGMK, which is headed by entrepreneur Iskander Makhmudov, said it intends to invest in production at the zinc smelter factory and produce up to 85,000 metric tons of zinc at Electrotsink this year.…

BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction and Development (EBRD) and Japanese-owned Sumitec International are creating a US$45 million facility, providing lease financing for Russian companies expanding or modernising construction equipment. The scheme will focus on Siberia and other far-east regions of Russia, which – said the bank – “are currently under-serviced by the leasing industry.”…

BY KEITH NUTHALL
SUPPORT has been secured within the European Parliament for a proposed increase in the borrowing ceiling for the European Union’s (EU) nuclear energy arm Euratom, raising it from the current Euro 400 million to 600 million. The approval did not come without strings however, with MEP’s calling for Euratom to be restricted in its spending of this money to projects improving safety, decommissioning plants or establishing storage and disposal facilities for radioactive waste and spent fuel.…