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. Last Updated: 07/27/2016

10/23/2008

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OPEC Courts Russia Ahead of Cuts

Russia and OPEC held their highest-level talks ever on Wednesday, with President Dmitry Medvedev meeting Secretary-General Abdallah Salem al-Badri to discuss the volatile oil market amid a Kremlin push for broader cooperation with foreign energy producers.

Big Firms Missing Electricity Payments

Several metals and mining companies have stopped paying their electricity bills, threatening winter heating and electricity supplies for households, the head of the country’s biggest private electricity producer said in an interview Wednesday.

A Silver Lining for Lovers of the Silver Screen

While the global economic downturn has businesspeople in many sectors wondering whether they will survive, many of the people in the country’s film industry seem to believe that a little belt-tightening could actually help.

Gazprom Facing Cash-Flow Crunch

Bloomberg
Gazprom said Wednesday that the company might have trouble obtaining new loans and refinancing debts, even after posting record earnings.

Lebedev Snaps Up Small Bank

Combined Reports
Billionaire Alexander Lebedev has acquired control of Russian Capital bank as the state seeks to consolidate the banking industry amid the worst financial crisis in a decade.

Developer Loses Rights to Rossiya Site

After a protracted legal battle, ST Development, a property developer owned by billionaire Shalva Chigirinsky, on Wednesday lost its rights to build an $800 million project on the site of the demolished Rossiya Hotel.

Aeroflot Eyes S7 Takeover

Aeroflot is looking to acquire rival S7 and has asked that the state hand over its blocking stake in the airline.

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