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Today's paper. Last Updated: 05/25/2012

Renaissance Capital

Finance

Renaissance Capital

Web-site: www.renaissancegroup.com/

"Renaissance Capital is the leading independent investment bank operating in Central and Eastern Europe, Africa, Central Asia and other high-opportunity frontier markets. It is a trusted adviser to government, corporate and institutional clients across the core investment banking offerings of M&A, equity, debt, structured solutions and derivatives." (renaissancegroup.com/OurFirm/AboutUs/)

Main shareholders: Renaissance Group (50% + 1), Onexim Group (50% - 1)

Headquarters: Moscow, Russian Federation

No Bonuses at Alfa Investment Bank

The denial of bonuses to Alfa Bank's investment-banking arm was confirmed Wednesday as the outfit became the second major privately owned investment bank to reveal its suffering in less than a week.

Q1 Revenue Rises 45% at Mail.Ru

The increased popularity of Mail.Ru Group's online games, social networks, applications and advertising pushed up revenue 45 percent in the first quarter, while revenue for 2011 increased nearly 60 percent.

Serial Tax Refund, Ltd.

In 2005, Hermitage Capital earned several billion dollars from successful investments in Gazprom stocks. At least, this can be inferred from the fact that Hermitage subsequently paid $250 million in income taxes. (Of course, Hermitage paid the absolute minimum tax required by law, so its actual earnings might have been even higher.)

World Bank Finds Economic Comeback Weak

Russia's recovery from the 2008 crisis is weak relative to its international peers and slower than after the financial crash of 1998, the World Bank said Wednesday as it lowered its 2012 growth forecast.

Mechel Audit Endangers Licenses

Mechel could lose mining licenses for one of its key assets after the Natural Resources and Environment Ministry said it was investigating possible operating violations.

Analysis: Inter RAO at Odds With Investors Over Expansion

The Russian government's pursuit of power generation assets abroad is frustrating investors who believe their interests would be better served by the state developing its own underfunded electricity sector.

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