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Gas, Evraz, M.video: Business in Brief

Slovakia Wary of Sending Russian Gas to Ukraine   

VELKE KAPUSANY, Slovakia — Slovakia, Ukraine's best hope of getting gas from Europe if the Kremlin halts supply, said it might help by reopening a small pipeline but stopped short of agreeing to reverse the flow of major links that take Russian gas to the European Union.

On Tuesday the Slovak and Ukrainian economy ministers, during talks near the border between their two countries, discussed reopening a disused pipeline to take some gas out of a main east-west line and loop it back into Ukraine.

But Slovakia failed to agree to Kiev's calls for it to reverse the flow of one of four main international pipeline carrying Russian gas so that the fuel goes straight back into Ukraine, Slovakian minister Tomas Malatinsky said. (Reuters)

Evraz Crude Steel Output Fell 8% in Q1

Russia's largest steelmaker Evraz said on Wednesday first-quarter crude steel output fell 8 percent quarter-on-quarter to 3.7 million tons and forecast production would rise in the second quarter at its Russian mills.

The company, part-owned by billionaire Chelsea soccer club owner Roman Abramovich, said output was down 9 percent in the first three months of 2014 compared with the same period last year. (Reuters)

M.video First Quarter Sales Rise 8%  

 M.video, Russia's biggest consumer electronics retailer, said on Wednesday its first-quarter sales growth kept pace with growth in the previous quarter despite weakening consumer confidence.

M.video said sales rose 8 percent to 47 billion rubles ($1.3 billion) as it opened a net seven stores and increased online-based sales by 113 percent, year-on-year.

Like-for-like sales grew 1 percent after falling by 1.8 percent in the final quarter of 2013. (Reuters)

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