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Today's paper. Last Updated: 02/19/2012

Business in Brief

Dixy Raises $52M



Discount food retailer Dixy Group said Monday that it had placed in full an additional issue of 26 million shares, raising $52 million.

The company said in a statement that existing shareholders bought 17.26 million shares under the pre-emptive rights scheme, while the remaining 8.74 million shares were placed with other investors through the open subscription.

The issue had been priced at $2 per share. (Reuters)




Gazprom's Peru Deal



Gazprom Deputy CEO Alexander Medvedev said the firm will sign an accord next month to help develop Peru's gas industry.

Under the cooperation agreement, Gazprom's research institute will assess Peru's gas reserves and study its potential as a producer of liquefied natural gas, Medvedev said Monday in the Peruvian capital of Lima.

From Peru, Medvedev travels to Brazil, Venezuela and Cuba. (Bloomberg)




Norilsk Closes 2 Mines



Norilsk Nickel suspended two nickel mines in Western Australia on rising costs and plummeting metal prices.

The Waterloo and Silver Swan underground mines, producing about 10,000 metric tons of nickel a year, "have been operating under increasing cost pressures for some time, and a significant increase in the cost of inputs coupled with a steep decline in nickel prices led to the decision to curtail operations," Norilsk said Monday. (Bloomberg)




Medvedev to Talk Pork



Russian limits on Brazilian meat imports will be part of government discussions planned during President Dmitry Medvedev's official visit to Brazil on Monday, the Gazeta Mercantil newspaper said.

New import quotas will be introduced Jan. 1, 2010, the newspaper said. (Bloomberg)




TMK to Cut U.S. Staff



TMK will cut jobs and overtime at its U.S. unit after a surge of imports to North America crimped sales.

The company did not give the number of jobs cut, saying they would be "kept to a minimum." The imports have hurt sales of TMK's Electric Resistance Welded products, it said. (Bloomberg)




Brazil to Buy Helicopters



Brazil signed an accord to buy 12 MI-35 attack helicopters from Russia for about $300 million, Valor Economico reported. The helicopters will be used for surveillance in the Amazon region, the Sao Paulo-based newspaper said.

Brazil plans to sign another defense deal during President Dmitry Medvedev's visit to the South American country this week, Valor said. (Bloomberg)




For the Record



Finance Minister Alexei Kudrin said the government will hold "final" discussions on consolidating the country's stock markets in January, RIA-Novosti reported. (Bloomberg)

A sinkhole at Uralkali's flooded mine in the Ural Mountains no longer threatens a rail link for fertilizer and titanium shipments after the mine roadway filled with water, an Uralkali adviser said Monday. (Bloomberg)

Evraz Group will receive a $1.8 billion loan from Vneshekonombank after the bank's supervisory board approved the application, Vedomosti said, citing sources close to the bank. (Bloomberg)

Also in Business

Fate of Rossiya Site Gets Public Scrutiny

Residents of the historical zone next to the Kremlin dominated by the ruins of the Rossiya Hotel said last week that the park Prime Minister Vladimir Putin ordered to be built on the site should reconnect Muscovites with their past.

RusHydro Joins the Chorus for Delayed Privatization

The chief of hydroelectric company RusHydro on Friday asked for a delay in this year's planned downsizing of the government's stake in the company, putting additional pressure on the Cabinet's liberals determined to reduce the state's role in the economy.

Q&A: Metro's Jeroen de Groot Feels at Home, Humbly

The parching heat wave of 2010 did a tremendous favor to Germany's Metro Cash & Carry, just as Jeroen de Groot was coming on board to lead the company's Russian operation.

Skolkovo's MIT Seeks to Stop Brain Drain

"I'm probably not going to move back for a couple of decades," said Yekaterina Paramonova, a third-year undergraduate majoring in nuclear science and engineering at the Massachusetts Institute of Technology, echoing the sentiment of many Russians who have tasted life outside the motherland.

Web Standards Body Opens in Russia

The World Wide Web Consortium, or W3C, which helps set standards for how the Internet develops, opened an office at the Higher School of Economics on Thursday.

S&P Sees Growth in H2 Slowing

Political instability is likely to continue after the March presidential election and growth will slow in the second half of the year.




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