By John Helmer in Moscow
A new London investment company called Vallar is being floated by two men whose most recent claim to public trust is what they have done, or advised doing with Russian money — Nathaniel Rothschild with Oleg Deripaska’s company Rusal, and James Campbell as a director on the Evraz board — that’s Roman Abramovich’s money, along with Eugene Shvidler, and Alexander Abramov.
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By John Helmer in Moscow
Never let it be doubted that sunshine comes out of the EBRD’s arse after all – along with $50 million.
According to a June 23 announcement from European Bank for Reconstruction and Development (EBRD) headquarters in London, the bank is proposing to lend the Joint Fruit Company (JFC), Russia’s dominant banana producer, shipper and distributor, $50 million. Pre-approval of the loan was given this week, and board approval is scheduled for July 20.
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By John Helmer in Moscow
Prime Minister Vladimir Putin met yesterday at Novokuznetsk city, in the Kemerovo region, with families of miners who were killed at the May 8 explosions that destroyed the Raspadskaya coking-coal mine, one of Russia’s largest. In remarks published on the prime ministry website, Putin hinted that he holds Raspadskaya’s management and owners, which include the Evraz steel group and Roman Abramovich, responsible for inadequate safety measures at the mine; and also for a scheme of miner bonuses which encouraged safety violations leading to the two fatal methane detonations.
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By John Helmer in Moscow
Even if you had all the kit you need – auditor’s green eyeshade, diamantaire’s magnifying loupe – it is not easy to find what is news in yesterday’s release of Alrosa’s financial report for 2009, audited according to International Financial Reporting Standards (IFRS) by PriceWaterhouseCoopers.
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By John Helmer in Moscow
Everyone who is watching the World Cup has his or her favourite moments of the competition. Depending on their national or other allegiances, many prefer to speak of extraordinary wins; the South African team’s defeat of France 2 to 1, for example. For me, it’s been the bravery of defence against all odds that is more inspiring — Greece against the repeated onslaught against goal by Argentina, to go down 0 to 2; and New Zealand holding Italy to a 1:1 draw.
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By John Helmer in Moscow
A news agency report from Cairo yesterday, claiming the Egyptian health authorities have quarantined a new Russian grain shipment in port, has been disputed by the Russian inspection agency, and by grain shippers in Moscow, who are not sure whether the action signals a resumption of last year’s weevil wars for market share in Egypt’s lucrative wheat market.
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By John Helmer in Moscow
President Dmitry Medvedev is lying when he claims that his modernization slogan, under which he is running for re-appointment by Prime Minister Vladimir Putin, means free and fair competition; security for foreign investment; and private ownership in place of state control. I mean lying, as in lying on the fakir’s bed of nails. Medvedev knows that this location is a sensitive one. If he moves unpredictably, he risks Putin’s wrath, and the pain of many other pricks.
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The Harmonics Vuvuzela for the season’s purest noise goes to Maxim Fedotov, who led the Moscow City Symphony Orchestra on June 16 in performances that included Ravel’s Bolero. Fedotov placed a snare drum at the front of the stage, and assigned the drummer the virtuoso noise-making part, obliging the rest of the sound-makers gathered behind him to compete to see who could be loudest. This display was sponsored by the embassies of Spain and the European Union.
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By John Helmer in Moscow
Alrosa’s chief executive Fyodor Andreyev (right image) briefed Moscow investment banks last week on the company’s strategy in an attempt to raise demand for a domestic bond issue, to be followed by a eurobond issue in November. Alrosa’s target for the two issues is $1.84 billion.
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