April 2009, Vol.4, No. 3
Diversification of Russian gas export routes and markets
The Kremlin moved its diversification policy on gas routes and trade into a new phase in March, when Gazprom launched its first liquefied natural gas (LNG) plant that will tanker Russia's LNG to China, Japan and South Korea, with plans to include the North American countries later to its growing list of global sovereign consumers. The successful realization of this strategically vital project has further boosted Russia's hegemony on the global gas market, as it has found new lucrative markets for its abundant gas, thus lessening its sales dependence on its increasingly ungrateful European consumers... |
Russian billionaire tycoon Viktor Vekselberg denies Swiss law violation chargesViktor Vekselberg, the owner of the Renova Group, has denied all charges of violating the Swiss stock exchange laws, Switzerland-based company representative... |
Russia condemns the summon of its finance minister to a U.S. courtRussia and international law experts have declared the summons served on Finance Minister Alexei Kudrin to appear in a U.S. court illegal... |
|
Sibir Airline and LUKoil reach out-of-court settlement on debt issuesSibir Airline Co., the company that owns the S7 airline brand, and LUKoil-Aero, an aviation-refueling company affiliated with oil major LUKoil, have reportedly reached out-of-court agreements on the timetables for the airline to repay its outstanding R886.4mln aviation kerosene debt... |
Korston GM appointed AEB Hotels & Tourism WG Deputy ChairmanLouie Beck, the vice president for hotel operations and general manager of Korston Hotel & Casino Moscow, has been appointed deputy chairman of the AEB Hotels and Tourism Working Group tasked with transforming Russia into a favorite tourist destination... |
|
The Russian equities market monthly roundupThe Russian equities market displayed some signs of recovery in the last week of March, a budding positive trend that arose from the expectation of adoption of critically vital anticrisis strategies at the London G20 Summit... |
Krasnoyarsk forum seeks anticrisis solutions via brainstorming sessionsTop Russian and foreign business executives and government officials used this year's forum 'brainstorming' sessions as platforms for exchanging ideas and deliberation on the best anticrisis strategies capable of lifting the local economy from the current downturn... |
|
Indian Diaspora celebrates the Holi Mela festival with pomp in MoscowThe representatives of the Moscow-based Indian business community and the entire members of the larger India Diaspora in Russia celebrated this year’s Holi Mela festival in the Russian capital with pomp on March 15... |
Volynskoe Congress Park hotel reopens after capital revampThe Volynskoe Congress Park Hotel, a part of the President Hotel Complex, which is affiliated with the Russian Presidential Administration, was reopened in early March after a major revamp... |
|
Baturina does not exclude selling a hotel project in MoscowElena Baturina, the billionaire entrepreneur that also doubles as the spouse of the powerful Moscow mayor, citing the prevailing negative economic trends, has said she does not exclude the possibility of offloading a hotel project on Ilyinka and halting some other commercial real-estate assets in Moscow... |
Sokos Hotels chain becomes official partner of Zenit Football ClubThe Sokos Hotels chain has signed an official partnership agreement with the St. Petersburg-based Zenit Football Club, under which Zenit will display the chain’s advertisement materials at its matches... |
|
Russia will gain from the abrogation of its gender political inequalityAt a Kremlin reception organized in honor of outstanding Russian women that have excelled in all spheres of human endeavors on the International Women’s Day, President Medvedev promised to remedy the growing female gender political inequalities’ in the country... |
Problematic transit and other risks highlight the urgency for gas market diversificationThe numerous energy crises caused by problems of shipping fuels to consumers via unreliable transit states such Ukraine once again call for urgent diversifications of energy supply routes in Europe — both by gas producers and its consumers... |
|
Global crisis highlights major management shortfalls in modern businessesAlthough the current global crisis — the most destructive since the Great Depression — is still far from climax, some conclusions on what actually went wrong and the best exit scenarios from the financial meltdown are being done, as investors explore a post-crisis future... |
President Medvedev heads ratings of most popular politiciansRussian President Dmitry Medvedev has been voted the most popular politician in Russia, beating not only his predecessor Prime Minister Vladimir Putin, but also a host of popular western politicians, including the new charismatic U.S. president, Barack Obama... |
|
Foreign automakers adapting to the new realities of the Russian automarketForeign automakers are seeking new marketing strategies for Russia as auto sales are expected to fall significantly in the country in 2009 and years ahead due to the negative impacts of the current global economic crisis on the domestic economy and residents’ purchasing powers... |
Reconstruction of Chechnya remains a priority for the KremlinChechnya President Kadyrov has expressed satisfaction over the Kremlin’s readiness to continue bankrolling the reconstruction of the war-torn republic, despite the global crisis... |
|
Largest corporations receive trillions in anticrisis financial aidRussian banks, which were propped by the government via its anticrisis funding programs, have provided over 2trln.rubs to companies, referred to as 'corporate systemic entities,' for their unique status in the economy... |
Global financial crisis forces Chubais into economy moodRussian Nanotechnologies Corp. (Rosnano) plans to adopt strict economy regime as a part of its anticrisis measures that will place its CEO Anatoly Chubais in overhead-costs-saving regime... |
|
Patriarch Kirill calls for tying salaries to people’s actual performancesPatriarch Kirill has called for placing remunerations in strict dependence on people’s real contributions or achievements, saying the current economic crisis only underscores the urgent need for adopting such principle... |
Expensive bank loans doom most Russian corporations to bankruptciesMoscow Mayor Yuri Luzhkov has criticized the current financial policy of the federal government, saying the policy has further compromised the real economic sectors at the background of the current global financial meltdown... |