Russian News: November 8th, 2008!

Hot News!RBC, 07.11.2008, Moscow 18:40:56.Severstal has completed the acquisition of the U.S.-based PBS Coals, the Russian steel producer said in a statement. To this end, the steelmaker acquired 99 percent in PBS under an offer to buy shares, and, with an over 90 percent stake in its hands, Severstal demanded the forced sale of the remaining shares. It is presumed that PBS will also be delisted from the Toronto Stock Exchange, Canada.

RBC, 07.11.2008, Moscow 17:54:51.The government has scheduled to issue infrastructure bonds in the first quarter of 2009 to finance infrastructure projects based on private-public partnerships. The issue will be part of the government’s effort to shore up Russia’s financial sector and certain economic areas approved by Prime Minister Vladimir Putin today.

RBC, 07.11.2008, Moscow 17:32:13.By the end of the month, the Russian government is expected to draft recommendations for commercial banks (including those partly owned by the state) on providing priority loans to a number of economy sectors. This information is contained in an action plan aimed at recovering the financial sector and certain economy sectors. The plan was prepared in accordance with the president’s commission and approved by Prime Minister Vladimir Putin. The automobile industry, agricultural engineering, aviation and real estate construction are cited as Russia’s priority industries.

RBC, 07.11.2008, Vladikavkaz 16:18:03.Investigators have found parts of a device, which contained a bomb and was worn by the female suicide bomber at the site of the explosion in Vladikavkaz. According to a source in North Ossetia’s law enforcement authorities, the device is most likely an explosive belt.

RBC, 07.11.2008, Moscow 16:02:19.The real effective ruble rate added 5.7 percent from January to October, 2008, the Bank of Russia reported. This value includes a 0.1 percent rise against the dollar, and a 10.2 percent rise against the euro.

RBC, 07.11.2008, Moscow 15:56:05.In 2009, production of unique nanomaterials for the aviation industry will be launched in Moscow, said Alexander Yuzvik, general director of the Moscow-based state-owned company Stroyexprom. The decision to set up the operations on the territory of the now closed AZLK car factory was made by the city’s authorities and the Russian Corporation of Nanotechnology.

RBC, 07.11.2008, Moscow 14:15:29.Russia’s Foreign Ministry has received new missile defense proposals from the United States, Igor Lyakin-Frolov, deputy head of the ministry’s press and information department, told RBC. “We are studying them now, and as soon as these proposals are considered we will discuss the timing of the bilateral meeting,” he said.

RBC, 07.11.2008, Moscow 13:19:48.The Russian State Duma has approved a series of amendments to Russia’s legislative anti-corruption acts. The changes specify the status of judges, members of legislative (representative) bodies of all levels, election commissions, as well as that of chairman, deputy chairman and auditors of the Audit Chamber of Russia and employees of the Central Bank.

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