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The EBRD is providing long-term financing to support restructuring, modernisation and expansion of a sanitary ware plant located in Syzran, Samara Region, Russia. The plant, Syzranskaya Keramika, needs improvements to benefit from the fast-growing demand for sanitary ware in Russia. This deal will also promote foreign investment in Russia's regions, which remain underserved by foreign capital and cross-border investment in general.

The Russian Electronic Money Association (EMA)  has announced that market volume for e-money reached 125 billion roubles in 2011 and is expected to double in 2012 when Law “On National Payment System” fully comes into force.

Russian Electronic Money Association announced the results of e-money industry for 2011 and Q1 2012. In 2011 customers topped up their e-wallets for 125 bln. roubles (approx. 4.1 bln. USD) nearly doubling the figure of 2010’s 70 bln. roubles (2.3 bln. USD). There has been a slower growth in customer base, however. According to Russian EMA data, number of the active e-wallets rose from 30 to 34 million – hence, indicating nearing saturation point.

Russia's transformation from central planning to a market-based economy over the past 20 years must rank as one of the biggest economic stories of our time, according to a new book on the rise of Russian capitalism. launched in London by its editor, Peter Westin, Chief Equity Strategist and Economist for ATON, Russia's oldest independent investment group.

 

FOREX CLUB, a leading online broker, has won the 'Best Dealing Room' award at the 2012 World Finance Foreign Exchange Awards. The honour comes as a result of voting by the magazine's 60,000 global readership. The awards, now in their fifth year, recognise industry leaders and institutions that represent the benchmark of success and best practice in foreign exchange.

 

Alfa-Bank announces the appointment of Alexey Marey as Chief Executive Officer and Member of its Board of Directors. Rushan Khvesyuk who has been holding senior executive posts at Alfa-Bank for many years, is appointed Chef Executive Officer of Alfa Banking Group. Mr. Khvesyuk will continue to be involved in strategic management of the Bank as a member of the Board of Directors. These changes, of which the market participants along with the Bank’s staff were made aware early  the last autumn, are being brought about according to the plan. The appointment of a new Chief Executive is intended to spur the business development of the Bank and to further strengthen its position as the largest privately-owned bank in Russia, which showed a record profit for the year 2011.

The Henry Jackson Societyhas announced the launch of a new initiative - the Henry Jackson Initiative for Inclusive Capitalism (HJI) - to provide a platform for thought leadership, policy recommendation and the promotion of business initiatives aimed at extending the benefits of capitalism to a broader set of stakeholders and society at large.

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