... localize more auto parts assembly lines in Russia following a profitable year during which the technology supplier saw its sales in the country jump 50 percent to almost 1 billion euros ($1.2 billion), the company reported. The announcement about the expansion of Bosch's Saratov plant comes just a few years after the company had to cancel its plans to build a second auto production site in Russia due to the economic crisis. Localization efforts will include building assembly lines for generators...
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Regional Retail Market: Next Stop for Real Estate Investors in Russia?
After considerable growth of retail real estate investment deals in Russia in 2010-11, a major intrigue is the possibility of active expansion of institutional investment deals into regional markets. We already see that such high-quality retail assets as Karnaval in Chekhov and Victory Plaza in Ryazan are coming to the investment market. Konsantin Lysenko Associate Director, Capital...
City Hall Ponders Privatizing Metro
... private-public partnership. The document covers urban planning through 2025 but otherwise doesn't specify a date for privatization. Though it carries no legal weight, the proposal could garner support: It comes as the city is undertaking an ambitious expansion of the metro system, with Mayor Sergei Sobyanin's administration announcing last month that 150 kilometers of new track and 70 new stations will be built by the end of 2020. Marat Khusnullin, deputy mayor for urban planning policy and construction...
Moscow Airport Merger Envisioned on Paper
... three airports is back on the agenda after a Transportation Ministry working group drafted a document that stated consolidation could be the way to tackle strains on capacity and balance soaring reconstruction and expansion costs. The long-discussed merger of Moscow's three airports is back on the agenda after a Transportation Ministry working group drafted a document that stated consolidation could be the way to tackle strains on capacity and balance soaring...
MegaFon Q1 Down 8%
... operator MegaFon slipped in the first quarter as it prepares for an initial public offering in London that could raise $4 billion. The company said first-quarter net profit fell 8.1 percent year on year to 9.27 billion rubles ($306 million), hit by network expansion costs and foreign exchange losses. Revenue rose 14.4 percent to 63.1 billion rubles, while operating income before tax and amortization rose 7.3 percent to 25.5 billion rubles, giving it a margin of 40.5 percent, down from 43.2 percent. The...
Q1 Economic Growth Surprises at 4.9%
... outlooks for 2012 against the backdrop of a cooling global economy. The State Statistics Service did not provide any breakdown with the gross domestic product figures, but Dmitry Polevoi, economist at ING bank, suggested that the impressive year-on-year expansion was the result of strong government consumption and a slowdown in import growth, as well as higher inventories. The figure, which defied a recent slowdown in industrial output, was "a total surprise to the market," he said. The first...
Metro Escalator Chief Sacked
... transportation department, Maxim Liksutov, though City Hall has denied that there is a link between Liksutov's appointment and the city contracts, saying that the company had been a long-time partner of the city. Last week, city officials announced a huge expansion of the metro system to add 70 stations and 150 kilometers of new track by 2020. 179742
CTC Q1 Revenue at $191M
... operating income before depreciation and amortization (OIBDA) rose 38 percent to $55.1 million for a 28.8 percent margin. Acting chief executive Boris Podolsky said CTC had invested in in-house content production, buying programs, operations and overall expansion of the business. He added that it would continue to invest in this way, which would take a toll on the OIBDA margin. The company had said it would cut the 2012 dividend payout to $80 million, from $130 million in 2011, in favor of investing...
Fitch Ups Novosibirsk, Azerbaijan
... region's long-term foreign and local currency ratings to BB+ from BB and national long-term rating to AA(rus) from AA-(rus). The upgrade reflects the region's sound budgetary performance, supported by increased tax revenue underpinned by the continued expansion of the local economy, improved capital spending with sustained self-financing capacity on capex and low direct risk, the agency said. Fitch said it expects Novosibirsk to maintain a sound operating margin at about 15 percent in 2012-14. The...
Avito.ru Gets $75M in Additional Funding
... Stopping by Avito.ru is "becoming a habit" for many Russians, De Rycker said by telephone, and that is a positive sign. "We're excited about the Russian Internet, [and] we're excited about the regions," De Rycker said of the startup's expansion plans. Baring Vostok's spokeswoman said the firm couldn't respond immediately to questions. The deal closed Friday, and Avito.ru received the $75 million on Monday, Nordlander said. The company now has hauled in more than $100 million in financing...
PHULL, AJIT SINGH
... of Employment:</b></td><td>FMCG</td></tr> <tr><td valign="top"><b>Employment history:</b></td><td><p><b>Plant Manager</b><br>Olam International Ltd<br>1. Handle & Organize Manufacturing Facility, Expansion projects, Manage Production, HR, Quality & HR performances. Provide as link with headquarters corporate personnel & Sales group in Europe & America. 2. Production Forecasting & Planning to make Sales Forecasting & review of Actual...
Lawyers Greet WTO Warmly
... encourage more companies to commit to Russia." Vladimir Tchikine, a partner at Goltsblat BLP specializing in customs and international trade, said Russia's compliance with WTO agreements will bring more clarity to this sphere. The enforceability and expansiveness of WTO regulations will allow him to conduct his practice more effectively, he said. Currently, Tchikine works mostly with Russian legislation and the legislation of the customs union between Belarus, Kazakhstan and Russia. Although Russian...
Amid Protests, Putin Sworn In for Third Presidential Term
... of government and our nation, depend now on us, on actual successes in the creation of a new economy and modern standards of living, on our efforts to care for people and support Russian families, on our persistence in developing the enormous Russian expanses from the Baltic to the Pacific Ocean, on our ability to become leaders and a center of attraction in all of Eurasia," Putin said. As he has in the past, Putin expressed his commitment to democratic principles and said Russia should be "successful"...
Making Money With Today's Retail Model
... announcing their plans to enter the Russian retail market. Many existing retail chains, both domestic and foreign, plan to expand across Russia. Moscow and St. Petersburg markets continue to be priorities, while regional cities are now targeted for further expansion. The majority of Western market companies are developing their businesses in Russia according to an organic model. At the same time further development of Russian retail chains would take place via company consolidation by mergers and acquisitions...
Foreign Investors Applaud Stability
...,” HSBC chief economist Alexander Morozov wrote in a research note. He said the actual power wielded by the Cabinet could not be determined until the makeup of Putin’s presidential administration was clear. Concern also was voiced that the expansion of the number of ministries and ministers would lower the government’s effectiveness. “Different views mean that a good idea or a good policy can be watered down,” said Peter Westin, chief equity strategist at Aton brokerage...
Archived Live Blog: Putin's Inauguration and Street Protests
... of government and our nation, depend now on us, on actual successes in the creation of a new economy and modern standards of living, on our efforts to care for people and support Russian families, on our persistence in developing the enormous Russian expanses from the Baltic to the Pacific Ocean, on our ability to become leaders and a center of attraction in all of Eurasia,” Putin said. As he has in the past, Putin expressed his commitment to democratic principles. “We want and will live...
Archived Live Blog: 'March of Millions' and People's Front Rally
... number of DDOS attacks that have shut down the site in recent months. 3:36 p.m., Rollerbladers, Musicians Gather on March Route: Rollerbladers and cyclists managed to enter the march route on Ulitsa Bolshaya Yakimanka and were riding around the broad expanse of open asphalt, Interfax reported. Musicians also set up sound equipment and began playing on the march route as participants continue to gather at the starting point, Blue Buckets activist Danila Lindele wrote on Twitter, attaching this photo:...
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