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Hungary's state airline Malev stopped flying after 66 years on Friday, citing bankruptcy, amid debts to creditors that include 100 million euros ($130 million) owed to VEB. Hungary's state airline Malev stopped flying after 66 years on Friday, citing bankruptcy, amid debts to creditors that include 100 million euros ($130 million) owed to VEB. The decision was prompted by a European Commission demand that Malev pay...
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VEB Eyes RusHydro Stake
1 February 2012
... with costs of 3.11 billion rubles a year earlier. Revenue fell 34 percent to 197 billion rubles. Vneshekonombank chief executive Vladimir Dmitriyev said in Davos, Switzerland, late last week that the bank may acquire a 10 percent share in RusHydro. VEB may spend 64 billion rubles to acquire treasury shares in the company. (Bloomberg)
7 Bids Expected on $21Bln Rail Link
13 February 2012
Bloomberg
... optimized," Shebunina said. "The project is to be carried out in the midst of a crisis, so it's important to see how costs can be lowered." High-Speed Rail Lines is also in talks with domestic banks including VTB Capital, Gazprombank and VEB about helping to fund the link either through loans or by buying bonds linked to the project, Shebunina said. VTB said in a statement that it's following the project "with interest," as did VEB. Gazprombank's press service didn't respond...
Bank Issues Eurobonds
15 February 2012
.... The lender, Russia's fourth largest by assets, was guiding investors toward a yield of 8.625 percent to 8.75 percent for the ruble eurobond issue. Rosselkhozbank was following in the steps of Russia's top lender Sberbank and state development bank VEB, which reopened the eurobond market for local borrowers earlier this month, raising $2.5 billion in total. Sberbank is also looking into the possibility of issuing a eurobond denominated in Swiss francs, a source said Monday. (Reuters)
Putin Has Plethora of Business Ideas
10 February 2012
By Irina Filatova and Anatoly Medetsky / The Moscow Times
... the investment climate. It gained approval from the Economic Development Ministry, and 69 of Russia’s 83 regions adopted similar programs. The rest are developing such programs. The Agency for Export Credit Insurance began work. A subsidiary of VEB, it seeks to support Russian exports and investment abroad. 387051 175768 179742
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