Russia to privatize 8% more in ALROSA in 2017

The Russian Economic Development Ministry will suggest the government privatize another 8% in uncut diamond mining giant ALROSA in 2017, Minister Alexei Ulyukayev reported. In July, the government sold 10.9% in state-run ALROSA to private investors for 52.181 billion rubles on the Moscow Exchange. “We’ve put forward this option. We will continue to suggest it…

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Russia: Lukoil official sees $80 oil price optimal

An $80 per barrel oil price would be the market’s “golden mean,” Vice President of Russian oil producer Lukoil Leonid Fedun reported.

“The price which the market needs now in order for us to satisfy global demand until 2030 is $80 per barrel, according to our estimates”, Fedun said. (Prime/Business World Magazine)

Ukraine: Germany provides EUR 150 million for substation modernization in Donbas

Germany’s credit institution KfW is providing a EUR 150 million loan for implementation of a project to reconstruct substations in eastern Ukraine. The individual loan agreement between Ukraine’s Cabinet of Ministers and KfW was signed at the ninth meeting of the Ukraine-Germany high-level group on economic cooperation. Eva Witt, KfW Director for Eastern Europe, Caucasus…

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Russia: trade surplus down in January-September 2016

Russia’s foreign trade surplus decreased by 48.1% YoY to $63.1 billion in January-September, the central bank said.

In January-September 2015, the foreign trade surplus amounted to $118.2 billion. (Prime/Business World Magazine)