By John Helmer, Moscow
Russian poultry producers hope to reduce next year’s poultry import quota to as little as 300,000 tonnes, with just 50,000 tonnes of US chicken legs for direct consumption. Before too long, the domestic growers are also hoping to start exporting Russian poultry abroad.
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By John Helmer, Moscow
After months of speculation that the recent Rothschild family flotation Vallar Plc would buy a Russian iron-ore or coalminer, Vallar has announced in London that instead it is buying an Indonesian steam coal group owned by Aburizal Bakrie (right image). Bakrie is described in the Financial Times as “arguably Indonesia’s most powerful businessman”.
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By John Helmer, Moscow
Oleg Deripaska’s electricity company, Eurosibenergo, is facing the loss of between 7% and 33% of its potential value in the Hong Kong market, as the banks running the attempt at a listing on the Hong Kong Stock Exchange can find few sharebuyers who value the company above the range of $4 billion to $5.6 billion. The banks are Bank of China International, Russia’s state-controlled VTB, and Deutsche Bank.
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By John Helmer, Moscow
The Russian national potash champion has found Canadian resource nationalism too hot a nutrient to handle.
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By John Helmer, Moscow
The threat of a total ban on the multi-billion dollar frozen chicken trade to Russia, commencing January 1, has been dropped by the head of Russia’s Trade and Inspection Agency (Rospotrebnadzor, RPN), Gennady Onishchenko. Just as he gave no reason for threatening the ban a few days ago, Onishchenko has given no reason for changing his mind, when he announced it through the state news agency, RIA-Novosti, on Saturday.
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Sir Henry Vane, born November 15, 1613 – executed for treason in London, June 14, 1662
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By John Helmer, Moscow
There are only so many ways a Russian company can make its performance look better to the markets without resorting to magic tricks.
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By John Helmer, Moscow
Nord Gold, the Russian mining company owned by Alexei Mordashov, has run into a grave new legal challenge to one of its most valuable gold-mining operations in the West African Republic of Guinea. The bad news comes after the unexplained failure of Mordashov’s company to confirm that it has been approved by the UK Financial Services Authority (FSA) to sell its shares on the London Stock Exchange.
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By John Helmer, Moscow
Negotiations between Surat Rough Diamond Sourcing Ltd (SRDSIL), one of the largest cutters and polishers of diamonds in the world, are under way with Alrosa and the Russian state stockpile agency Gokhran. And just a few days after they began in Moscow, the Indian move has triggered an unusual domestic protest. In a statement issued publicly, the Russian diamond manufacturers have announced their concern that SRDSIL may cut into the domestic supplies which the Russians are counting on from the state stockpile.
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By John Helmer, Moscow
Metalloinvest, the steel and iron-ore holding controlled by Alisher Usmanov, has issued a press release summarizing what it claims are audited financial results for the six months to June 30. The good news has been timed, and also trimmed, to boost Usmanov’s attempt to find market demand and regulatory approval for an initial public offering; or for a takeover and reverse listing transaction with London-listed Vallar.
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