Car producer GAZ Group has signed several memorandums with Kazakhstan’s Semipalatinsky car assembling plant (SemAZ) to organize local assembly of its vehicles, the Russian company said in a statement. “The supply of car kits for mass production of GAZelle Next, GAZon Next and GAZelle Business, and heavy-duty equipment Ural Next, small, medium and heavy-duty buses…Details
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The Purchasing Managers’ Index (PMI) in the Russian services sector decreased to 53 in September from 53.5 in August, according to a Markit research note. The index remained above the 50 mark signaling an overall stagnation of the sector. “Weaker rises in both new business and unfinished work were reported while job cuts were evident…Details
Russian state-owned oil major Rosneft and Indonesia’s Pertamina have signed an agreement to establish a joint venture to build a refining and petrochemical facility Tuban on the Java Island, Rosneft said in a statement. Rosneft and Pertamina signed a framework agreement to cooperate in construction of an oil refinery in the town of Tuban in…Details
Businessman Igor Yusyfov’s Fund Energy, which invests in oil production in Russia and the CIS, believes that Russian state-owned oil major Rosneft may buy the government’s 19.5% stake in itself. This plan will help the government receive 700 billion rubles, while Rosneft may sell the shares for a profit. The plan is “weird,” but it…Details
Russian President Vladimir Putin has ordered the Industry and Trade and Economic Development ministries to work on proposal by Deputy Prime Minister Dmitry Rogozin to replace management of railway equipment and tank maker Uralvagonzavod and transfer it to the state company Rostec. In a September letter to Putin, Rogozin said the plant was in dire…Details
On October 5, the National Mercantile Exchange CJSC (NAMEX) held the regular stock exchange trading within frames of public grain purchasing interventions in the regional trading platforms of Russia, and purchased 48.195 thousand tons of grains (from the proposed volume of 54 thousand tons) valued at 450.181 million RUR, the press-service of NAMEX declared. In…Details
Nibulon, one of Ukraine’s largest agricultural enterprises based in Mykolayiv, has embarked upon construction of its second terminal for transshipping cereal and oilseed crops onto sea and river transport in Kherson region. The new terminal will be located in Hola Prystan and it will join the one in Kozatske, Beryslav district, Kherson region. After commissioning…Details