Favored Car List Released
The Industry and Trade Ministry released a list of cars whose buyers would be eligible for a subsidized loan.
The list, signed by Minister Viktor Khristenko, includes most of AvtoVAZ's Lada and classic VAZ models and six Russian-made foreign models: Chevrolet Niva, Fiat Albea, Ford Focus, Kia Spectra, Renault Logan, Scoda Fabia and Volkswagen Jetta, Interfax reported Monday.
Earlier this month, the government allocated 2 billion rubles ($55.6 million) to subsidize two-thirds of the refinancing rate charged by the Central Bank on interest rates for loans on cars under 350,000 rubles. (MT)
Russia to Guarantee Loans
Russia will guarantee loans worth a total of 15 billion rubles ($415.6 million) to nine defense industry firms, the Finance Ministry said Saturday.
A total of 100 billion rubles of the federal budget has been earmarked to guarantee loans to Russian defense companies, Deputy Finance Minister Anton Siluanov said, citing an interagency commission set up to address the issue.
Siluanov did not name the nine firms to benefit from the state guarantees but said the commission had considered a total of 60 companies.(Reuters)
EC Pushes Aid to Ukraine
The European Commission pushed EU governments on Monday to provide more long-term economic and other aid to Ukraine and four other ex-Soviet republics -- areas Moscow regards as its backyard.
The European Union "has a strategic interest ?€¦ in economic and political stability" in Armenia, Azerbaijan, Georgia, Moldova and Ukraine, EU External Relations Commissioner Benita Ferrero-Waldner said.
The EU's 27 foreign ministers held a first debate about an "Eastern Partnership" plan proposed by the EU executive in a bid to cut Russia's sway over ex-Soviet states. (AP)
Deripaska Sees Deal Soon
Oleg Deripaska said his Basic Element holding company would soon complete the purchase of oil producer Russneft.
Basic Element will not back out of the planned purchase, Deripaska said in an interview with Vesti-24 broadcast Sunday.
The Federal Anti-Monopoly Service has yet to approve Deripaska's bid, made in 2007. (Bloomberg)
Miller Meets Tajik Minister
Gazprom CEO Alexei Miller met with Tajik Energy Minister Gul Sherali in Moscow as the company seeks to extend its control of resources in Central Asia, Gazprom said Friday.
Miller and Sherali discussed cooperation in the country, Gazprom said. Tajik President Emomali Rakhmon is scheduled to visit Moscow next week. (Bloomberg)
Poland's Gazprom Deal
Polskie Gornictwo Naftowe i Gazownictwo, Poland's largest gas company, may sign a new supply agreement with Gazprom in the coming days after RosUkrEnergo halted deliveries, deputy CEO Radoslaw Dudzinski said Monday. Gornictwo is in talks with Gazprom on receiving additional supplies of about 2.5 billion cubic meters of gas a year.(Bloomberg)
Integra to Get $250M Loan
Integra Group will receive $250 million in long-term funding from a group of lenders led by the European Bank for Reconstruction and Development, the EBRD said in a statement.
The loan will go toward the purchase of new equipment and to help Integra launch an energy efficiency program. BNP Paribas, ING Groep and eight other banks provided $175 million as a syndicated "B" loan to Integra, according to the statement. (Bloomberg)
For the Record
Russia's electricity use fell 5.8 percent year on year in the last week, a less drastic drop than in January, official data showed. (Reuters) Magnitogorsk Iron & Steel Works, or MMK, said it would not pay a dividend for the second half of last year as it scrambles to preserve cash during the downturn, media reported Friday. (Reuters) Prime Minister Vladimir Putin signed a decree to create a government commission overseeing the development of the metals industry, the government said Friday. (Bloomberg) ()
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