By John Helmer in Moscow Alexei Mordashov, owner of the Russian Severstal steel and mining group, has lifted his takeover offer for High River Gold (HRG:CN) by 8 Canadian cents per share, after his earlier bids for the 43% minority shareholding failed at 18 cents and 22 cents. The new offer is 30 cents. If […]

by John Helmer - Wednesday, July 29th, 2009
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By John Helmer in Moscow Pressure on the new head of Alrosa, Fyodor Andreyev, to boost rough diamond sales by discounting the price made a prompt appearance in the Russian press — within hours of Andreyev taking his seat on July 15. “The new president of Alrosa has decided to increase sales using discounts”, claimed […]

by John Helmer - Tuesday, July 28th, 2009
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On July 27, Russia’s NTV network broadcast an interview with President Dmitry Medvedev (the Russian name means “bear”). The President was asked about the image of the bear in recent Russian history, and for the future. Here is what he replied: QUESTION: You know, the widespread image of Russia in the world is a certain […]

by John Helmer - Tuesday, July 28th, 2009
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By John Helmer in Moscow Time to remember the famous advertisement of Wendy’s, the American burger chain, which contrasted the substance of its product with the paltriness of its rivals. So now let’s ask the biggest unanswered question in Russian political economy — what happened to the stimulus funding the Russian government was supposed to […]

by John Helmer - Monday, July 27th, 2009
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By John Helmer in Moscow The growing number of tape-recorded disclosures from a bed belonging to Italian Prime Minister Silvio Berlusconi has attracted a rising vote of no-confidence in the prime minister from Italian voters, and unusual interest in what happened on the bed in much of western Europe. One Italian opinion poll published at […]

by John Helmer - Monday, July 27th, 2009
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By John Helmer in Moscow Severstal, the Russian steelmaker owned by Alexei Mordashov (pictured), sought today to play down a rating downgrade by Fitch, issued earlier this week. At the same time, the company has removed the head of its loss-making North American division; and announced that in Italy, where its Lucchini steel operations are […]

by John Helmer - Thursday, July 23rd, 2009
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By John Helmer in Moscow While unpaid Russian workers on shore petition for Prime Minister Vladimir Putin’s help,block highways, or appeal for media coverage, Russian seamen have used a very old weapon to claw back their pay from Russian shipowners — their trade union. The union campaign at sea is without precedent on land. Russia’s […]

by John Helmer - Wednesday, July 22nd, 2009
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By John Helmer in Moscow The St. Petersburg fight over port terminal andshipping assets has taken a muscular turn, as police raiders, acting at the behest of Bank St. Petersburg, appear to be grabbing assets worth more than a bank valuation allows, and despite a court order invalidating the seizure. Vitaly Arkhangelsky’s Oslo Marine Group […]

by John Helmer - Tuesday, July 21st, 2009
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By John Helmer in Moscow The reason for an unexpected Chinese advertisement for a billion-dollar iron-ore and steel complex in a remote part of Siberia became clear in Moscow today. It reveals that, starved for cash as most Russian metal and mining companies currently are, they aren’t yet prepared to let the Chinese build competing […]

by John Helmer - Tuesday, July 21st, 2009
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By John Helmer in Moscow Silvio Berlusconi, the Prime Minister of Italy, has named a bed in his Roman home, Palazzo Grazioli, after the Prime Minister of Russia, Vladimir Putin, according to a conversation Berlusconi had last November with a young lady he was inviting to join him in the bed. The bed itself is […]

by John Helmer - Tuesday, July 21st, 2009
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