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By John Helmer in Moscow The US Court of Appeals for the Second Circuit (New York) decided yesterday that the US racketeering statute can reach Russian wrongdoers only if their deeds are done on American territory. Running the loot, laundering, or spending it through US banks and bank accounts, or on American real estate and [...]

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By John Helmer in Moscow The Russian steelmaking group Evraz announced today that it has cancelled the sale of its Connecticut-based vanadium producer, Strategic Minerals Corporation (Stratcor). Without giving a reason, the announcement says the company “notes the recent publications regarding the possible sale of…Stratcor…Following a comprehensive analysis of Evraz’s strategic options in relation to [...]

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By John Helmer in Moscow For weeks now, Yury Luzhkov has been receiving ultimatums to resign, along with black valentines for his wife. Yesterday, he did a Metaxas. Ioannis Metaxas, a career army officer with more military skill than brains, ran Greece as a dictator from 1936 until his death in January of 1941. He [...]

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By John Helmer in Moscow One of the lucrative carry trades is about to be chopped. A new report by the UK market regulator, the Financial Services Authority (FSA), has warned that it intends to crack down on links between companies preparing share market sales and financial media reporters and columnists, the effect of which, [...]

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By John Helmer in Moscow The Sakha government has agreed to a reorganization of the Alrosa shareholding, legalizing open-market trading of Alrosa shares for the first time, and promising a privatization of state-owned shares soon. The Yakuts will not agree, however, to privatizing more than 20% to 25% of Alrosa shares; the federal government and [...]

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By John Helmer in Moscow Sovcomflot, the Russian state-owned tanker group, reports that, despite rising revenues of $678.6 million in the first six months of this year — up 11% over the same period of 2009 — earnings have fallen 4% to $292.6 million; and net income has dropped 5% to $111.2 million. Revenues rose [...]

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By John Helmer in Moscow Sacre-Coeur Minerals (SCM) is a small Toronto-listed goldminer prospecting the malarial swamps of Guyana (South America), so far without striking El Dorado. The company is so small, its website doesn’t publish financial reports. But the required filings with the stock exchange indicate that it is producing no gold; its operating [...]

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By John Helmer in Moscow Victor Vekselberg was acquitted today by a Swiss court in Bellinzone of charges of illegal stock market manipulation in his 2006 takeover of Oerlikon, a major Swiss enterprise.

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By John Helmer in Moscow Rumpelstiltskin is one of the nastier dwarves in the canon of scary children’s stories. But for investors in goldmining, it is worth remembering that his investment in gold production proved to be pretty successful until he got careless when talking to himself, and revealed his name.

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By John Helmer in Moscow Transcontainer, the state-owned Russian Railways box transport company, has revealed that it will not list shares in its initial public offering on the Hong Kong Stock Exchange. The announcement confirms that for state-owned shares, the Kremlin sees little value, and considerable risk, in associating with the Hong Kong Exchange (HKEx). [...]