Interfax: Russia & CIS Business and Investment news report of 11.06.2009

Weekly news:

INDICATORS

Chief Russian Financial and Macroeconomic Indicators

EVENTS IN THE COMING WEEK

HEADLINE NEWS

Digest of headline news

COVER STORY

Russia, Belarus and Kazakhstan to negotiate WTO accession as Customs Union – Putin

EurAsEC countries sign agreement to set up anti-crisis fund

OPINION

Foreigners want minority stakes, not compensation for discovering mineral deposits – expert

POLITICS. ECONOMY

Russian budget won’t require major adjustments if growth in oil prices proves short-lived – Putin

Russia’s 2009 budget deficit may reach 10% with National Welfare Fund money taken into account - Kudrin

Russia will borrow over $10 billion per year from abroad after 2010 - Kudrin

Nabiullina: second wave of financial crisis possible

Russia’s GDP could grow from 0% to 1.3% in 2010 - official

Ruble may become reserve currency unit in China, India, Arab countries - Shuvalov

CB could switch to floating ruble exchange rate ahead of schedule – Ulyukayev

Russian bankruptcy law needs improving – Medvedev

June inflation in Russia to be under 0.6%, Aug-Sept may see deflation

Russia has 0.2% inflation for June 2-8, 7% in YTD – Rosstat

Russia’s broad monetary base expands 5.1% to 4.712 trln rubles in May

Russian monetary base up 26.1 bln rubles to 3883.5 bln rubles

Russian producer prices up 0.6% in May – Rosstat

Russia’s international reserves at $404 bln on June 1 – Putin

Russian international reserves up $8.4 bln in week

Russian trade surplus to be higher in H2 than in H1 – Putin

Russia had budget deficit of 3.6% GDP in 5 mths – MinFin

Prosecutor asks to sentence Berezovsky in absentia to 15 years in prison – lawyer

COMPANIES & MARKETS

ENERGY & RESOURCES

Gazprom backs ENI’s idea to create global energy agency – Miller

Russian Energy Agency should be set up this year – Sechin

Russia planning to hold meeting with OPEC officials in July – Sechin

Natural monopolies’ tariffs may grow from 0% to 10% in 2010 - Shuvalov

Average oil price in 2010 to be around $60 per barrel

Russia’s 2009 budget deficit target should not be changed for optimistic oil prices - Shuvalov

Rosneft may bring partner in for ESPO refinery construction

Gazprom expects gas prices to rise in H2

Gazprom forecasts LNG shortage by 2014

Gazprom, StatoilHydro sign MoU on Northern regions

Court freezes 23.34% of Sibir Energy following Tchigirinski suit

Russia could raise crude oil export duty nearly $60 on July 1

SIBUR plans to capture 20% of European LNG market with purchase of Citco

ELECTRICITY PRODUCTION & DISTRIBUTION. NUCLEAR POWER

Inter RAO, VTB Capital, Kuwaiti firm to form EUR 1 bln investment fund

Inter RAO may swap genco stake with SUEK

No financing problems with Bushehr NPP project – Atomstroyexport

Gazprom not planning to buy power facilities, but could consider acquiring coal assets

Mosenergo putting bonds on hold for now

METALS & MINERALS

Usmanov not planning to leave Norilsk Nickel; may consider boosting stake

Banks to extend RUSAL standstill until July 28 – company

Commission clears Nafta Moskva to buy Polyus Gold shares

High River Gold accepts Severstal offer

MMK borrowed $408 mln from Russian, foreign banks in Q1

Mechel signs five-year deal to supply coal to Hyundai Steel

METAL GOODS & ENGINEERING

Car sales in Russia plummet 58% in May

IT & TELECOMS

Bailiffs could put Telenor’s stake in VimpelCom up for sale soon

Sweden’s Tele2 to launch GSM network in Tomsk region on June 20

FAS opens case against six laptop producers for pre-installing Microsoft OS

Eugene Kaspersky’s achievements marked by state award

TRANSPORT

Agencies mulling 100 bln rubles for RZD investment program

RZD could see 700 mln rubles profit if anti-crisis measures implemented

Russian govt mulls allocating RZD 55 bln rubles in subsidies in 2010

Russia’s A1 planning to launch new low cost airline in July

Court places Dalavia under receivership

FOOD & AGRICULTURE. PROCESS INDUSTRIES, FORESTRY & TIMBER

Russia may soon ban import of 1,500 dairy products from Belarus

Russia to increase share on world grain market to 20% in 15 years - minister

Russia, Ukraine, Kazakhstan propose forming Black Sea grain pool

Onishchenko calls for clear international approaches to swine flu analysis

Efes to cut investment in Russia by more than half in 2009

CHEMICALS & pharmaceuticals

Severstal acquires Sheksna-Pharma

CONSUMER GOODS. RETAIL

Magnit boosts revenue 30.5% in May

CONSTRUCTION & PROPERTY

Bolloyev replaces Kolodyazhny as Olympstroi president

FINANCIAL & BUSINESS SERVICES

CB says has not stress-tested any bank

No sense in salvaging all banks in case of second wave of crisis - Shuvalov

Ulyukayev confirms CB could increase limits on twelve-month unsecured loans

Russia’s banks said to have negative foreign assets of $2 Bln

VEB buys around 5% in Sberbank and 1% in Gazprom using Welfare Fund - Kommersant

VEB may repurchase Rostelecom shares from KIT Finance by end of August

VTB attempts to get refinancing from ECB so far unsuccessful - Kostin

Onexim closes purchase of 50% in Renaissance Capital

VTB sells Switzerland’s Russische Kommerzial Bank to Gazprombank

VTB meeting with investors in London - sources

Gazprombank, Alfa-Bank could be among first to get OFZ recapitalization – analysts

CIS

Ukrainian inflation slows to 0.5% in May

Ukrainian GDP down 23%-25% in Q1 - Yushchenko

IMF to increase financing to Belarus by $1 bln

Belarusian industrial production down 3.4% in Jan-May

Belarusian economy grows 1.4% in Jan-May, inflation at 6.9%

Belarusian gold, forex reserves grow 5.8% in Jan-May

Belarusian broad money supply expands 4.3% in Jan-May

Kazakh National bank cuts rate to 8.5%

Kazakh reserves up 2.6% in May, down 9.2% in 5 mths

Kazakhstan’s money supply increases 4.6% in Jan-Apr

Armenia’s Central Bank lowers refinancing rate from 6.25% to 6%

Georgia hopes to continue free trade with member states after CIS withdrawal

IMF predicts 9% decline in Moldovan economy in 2009

FORECASTS & MARKETS ANALYSIS

FINANCIAL MARKET

Ruble partially bounces back for week of June 8-11

GOVERNMENT SECURITIES

OFZ quotations gain slightly for week of June 8-11

RUSSIAN EUROBONDS CORRECT UP LAST WEEK AFTER EARLY DECLINE

STOCKS

RUSSIAN STOCKS EDGE DOWN LAST WEEK IN RESPONSE TO RISING DOLLAR

RESULTS OF RUSSIAN STOCKS TRADING IN RUSSIAN TRADING SYSTEM

STOCK INDEXES

CORPORATE BONDS

New offerings, taxes could take edge off Cbond market

Nb: This news report features only the headline of each news.

Agency Interfax