Russia: Aeroexpress 6-month IFRS net profit up

IFRS net profit of LLC Aeroexpress for H1 2016 grew by 42.09% to 459.802 million rubles from 323.601 million rubles for the same period in 2015, the company reported. Revenue increased by 2.09% to 2.72 billion rubles from 2.664 billion rubles, operating profit – by 29.73% to 831.215 million rubles from 640.728 million rubles, pre-tax…

Russia: Uralkali Q3 2016 production results

Uralkali, one of the world’s largest potash producers, announces its production results for Q3 and the 9 months of 2016. Uralkali produced 2.8 million tons of potassium chloride (KCl) in the third quarter of 2016. The company produced 7.9 million tons of KCl in January-September 2016. Uralkali is one of the world’s largest potash producers…

Ukraine to become successful in 3-5 years

Prime Minister of Ukraine Volodymyr Groysman believes that the capabilities of Ukraine are potentially among the best in Europe and in three or five years it will become a successful country. “I am deeply convinced that our capabilities are now among the best in Europe and possibly in the world. I believe the capabilities we…

Ukraine: gas consumption down

Ukrainian President Petro Poroshenko said that the country’s gas consumption fell by 30%. “Now Ukraine is consuming 30% less gas thanks to the mechanisms implemented”, he told students of the Shevchenko National University. He said tariff increases in the country were linked to the fact that Ukraine had gotten rid of dependence on Russian gas.…

Ukraine: barley exports reach high records

In August Ukrainian barley exports grew by 17% YoY and equaled 1924 KMT against 1019.5 KMT. During the first two months of 2016/2017 (July-August) Ukrainian exporters shipped 2204 KMT of barley, which is an absolute record for the period. Traditionally in August Saudi Arabia lowered its purchases, importing 371 KMT against 523 KMT in the…

Russia: retailers eager to sell Google’s new phone Pixel

Russian retailers are interested in selling Google’s Pixel, the first smartphone fully designed by the U.S. company, spokespeople for several companies reported. “Google’s previous models Nexus sold at Svyaznoy enjoyed some success among the fans of the most technically advanced smartphones”, Sergei Tikhonov, a spokesman for multi-channel retailer Svyaznoy, said adding that it was still…

Russia: Rosneft allowed to buy 50% in Bashneft

The Russian government has allowed oil major Rosneft to buy the government’s 50.08% stake in oil company Bashneft without an auction for 329.6 billion rubles, a source at the Energy Ministry reported. On September 30, First Deputy Prime Minister Igor Shuvalov said that the government had decided to resume preparations for the sale of its…

Russia: Rosneft to be sold in November 2016

The Russian government will most likely sell a 19.5% stake in oil major Rosneft in November, Economic Development Minister Alexei Ulyukayev reported.

“We do not have the time now. According to the schedule, most likely in November”, he said. (Prime/Business World Magazine)