Business Watch
Romance tours are a hit with western men
A study commissioned by dating giant Anastasia International has found that Romance Tours attended by western men in hopes of finding a bride in Russia and CIS are highly effective. Organized Romance Tours ( http://www.anastasiadate.com/romance-tours.html) take men from behind their computers on excursions through Russia and Ukraine with the object of connecting them with ladies in search of amour and possibly marriage.
New large residential district for St Petersburg
The LSR Group is planning to build a new, large residential district in St. Petersburg, near the Yuzhnoe Highway. The implementation of the project will require the relocation of a brick production plant. The company plans to transfer the brick plant to the Kirovsky district of the Leningrad Province.
Break in weather allows firefighters to blitz fires
Taking advantage of a break in the toxic smoke that has choked Moscow for three weeks on Wednesday,Russian firefighting aircraft began dousing wildfires in the Moscow region. The smoke cloud covering the city and reducing visibility to 70 metres was cleared by strong winds after a night thunderstorm brough some relief to the capital.However weather forecasters warned that polluting clouds could return in 24 hours.
VTB Bank places loan issue
JSC VTB Bank has successfully placed its Swiss Franc 400 million issue under its Loan Participatory Note (LPN) Programme. The initial size of the deal was increased by over 30% from CHF300 million to CHF400 million due to strong investor demand. CHF400 million of 4% Notes due 2013 will be issued at par value by VTB Capital S.A., Luxembourg. The Notes will be listed on the Swiss Stock Exchange. BNP Paribas and VTB Capital plc are the Joint Lead Managers of the issue.
The Russian Olympic Committee’s (ROC) ten year strategy approved
The Russian Olympic Committee’s (ROC) ten year strategy approved
The plan – that will take the ROC through until 2020 – aims to provide Russian athletes with the best possible facilities for training and will benefit Russian performance at Sochi 2014.At the meeting, a new structure for the ROC Executive Committee was also approved streamlining the body to 20 senior figures from the world of Russian sport.
Easing Economy, Tightening Nerves
Easing Economy, Tightening Nerves
Russian ban on exports rattles wheat sector
Just as Russian emergency officials were reporting some success in taming the fires ravaging the countryside, heavy smoke has finally hit Moscow, bringing the city to a near standstill. But that's not as scary as the more important possible effect on the global wheat sector. The wildfires and a severe drought have devastated more than a third of cultivable land in Russia, leading Putin to impose a temporary ban on grain exports last week.
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Fund Flows: Turkish Delight
Russia losing out to Turkey. The weekly fund flows update from EPFR Global reported a big increase in new money invested into Emerging Markets. Amongst the country specific funds, Turkey continues to attract large new flows while Mexico continues to report large redemptions. Russia and Brazil are sidelined.