Russian News: November 27, 2007!

Hello,

RBC, 27.11.2007, Moscow 11:40:13.The Russian stock market opened with no defined trend today. On MICEX, RAO UES was the only company trading in positive territory, while the rest of blue chips edged down 0.5 percent on average. The RTS index also slid at the opening. The Russian stock market has been influenced by the US stock exchanges, analysts told RBC TV. However, market participants are optimistic, and experts do not project the Russian market to lower significantly.

RBC, 27.11.2007, Moscow 11:07:19.The net profit of Dixy Group, one of Russia’s top food retail chains, under IFRS soared 173 percent to USD5.4m in the first nine months of 2007 compared to the same period a year earlier, the company reported today. The company’s net revenue amounted to RUR25.638bn (approx. USD1.05bn), which is 34 percent greater than in January-September 2006. Gross profit climbed 57 percent to RUR6.002bn (approx. USD247m) and gross profit margin went up from 20.1 percent to 23.4 percent. The company attributed this increase in net profit to the group’s measures to develop the product range, as well as to higher sales. EBITDA grew 51 percent to RUR1.162bn (approx. USD48m) and EBITDA margin edged up 0.5 percentage points to 4.5 percent in January-September 2007.

RBC, 27.11.2007, Moscow 10:55:47.Russian companies Gazprom and SIBUR Holding and American Dow Chemical have signed a memorandum of intent for hydrocarbon refining, the press office of the Russian energy giant reported today. According to the document, the companies are looking into the possibility of forming a joint venture on the basis of Dow Chemical’s new petrochemical facilities in Germany. The companies are also likely to consider natural gas refining in Russia and cooperation in other projects.

RBC, 27.11.2007, Annapolis, USA 09:34:02.The recent suggestions made by the US on the anti-missile defense systems have lowered Moscow and Washington’s chances of reaching a compromise on the matter, Russian Foreign Minister Sergei Lavrov told journalists in Annapolis today following his meeting with US State Secretary Condoleezza Rice. He pointed out that this was a step backwards from the agreements that had been reached between the two countries in October 2007. Lavrov added that Russia was reviewing the new proposals, the Vesti TV channel reported today.

RBC, 26.11.2007, St. Petersburg 14:18:12.The OSCE’s decision to cancel the monitoring of the upcoming parliamentary elections is Russia was made in accordance with the US State Department’s recommendation, Russian President Vladimir Putin told a meeting in St. Petersburg today. He pointed out that Moscow would take this fact into account in the future relations with the US. Putin believes that some European leaders did not know about the decision of the Office for Democratic Institutions and Human Rights (ODIHR) until their announcement. He added that the organization needed serious reforms, the Mayak radio station reported today, citing the Russian leader.

Kyle

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