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)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.