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Russia is a pivotal country for Google |
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Friday, 13 February 2009 15:50 |
The financial crisis derailed Yandex's IPO plans Volozh says his company is cash-flow positive, and as a result it doesn't need to raise more money right now. Yandex's growth certainly has been impressive: Revenue has doubled every year since 2000, and last year reported sales topped $300 million. According to Volozh, Yandex has turned down repeated buyout offers from Yahoo (YHOO, Fortune 500), Microsoft (MSFT, Fortune 500) and Google. (The companies declined to comment.) Analysts value the business at about $6 billion.
While Yandex may not be interested in serving American customers, Google is definitely eager to increase market share in Russia, which boasts the fastest-growing Internet population in Europe. ...>Its market share for much of the decade hovered at a tepid 6%. Then, in 2006, Google hired a few dozen Russian engineers to address the language issues, and its market share jumped instantly. With its huge potential for growth, says Alla Zabrovskaya, who heads public relations for Google in Moscow, "Russia is a pivotal country for Google." More from the Money.CNN.com |
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Russia, Turkey close to agreeing mega energy deals: official |
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Friday, 13 February 2009 15:15 |
Russia and Turkey are close to agreeing energy deals worth billions of dollars under which Moscow will build a nuclear power station and supply electricity for Ankara, a Russian official said on Friday.
During a visit by Turkish President Abdullah Gul, Russian Energy Minister Sergei Shmatko said the two sides were nearing agreement on Russia winning the nuclear energy contract worth up to $20 billion.
Shmatko also said that Russia and Turkey were also discussing a long term contract worth $60 billion over a period of 15 years to supply Russian electricity to Turkey.
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BRICs Show No Death of Equities in Emerging Markets |
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Friday, 13 February 2009 13:17 |
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The only major stock markets recording gains of more than 8 percent this year are China, Russia and Brazil, and India’s benchmark index is little changed. . Prospects that demand will hold up for Brazilian and Russian metals lifted shares of Cia. Vale do Rio Doce 27 percent this year and OAO Severstal 59 percent.
“I would expect the big emerging markets to do really well in the updraft of the next bull market, which you ought to be postured for right now,” said Kenneth Fisher, the billionaire chairman of Woodside, California-based Fisher Investments Inc., which oversees $28 billion and owns Brazilian and Russian shares.
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Russia Companies Asked by Banks to Hold Debt Talks |
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Wednesday, 11 February 2009 12:24 |
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Feb. 10 (Bloomberg) -- International banks proposed restructuring talks with Russian companies that owe $400 billion of foreign debt due in the next four years, according to the Russian Association of Regional Banks.
Less than $100 billion of international debt, $15 billion of which is due this year, may need to be restructured, said Aksakov, who is also a lawmaker in the lower house of parliament..
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Moscow luxury real estate prices leave London behind |
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Wednesday, 11 February 2009 12:22 |
Moscow climbed to the second position on the list of cities with the most expensive real estate markets, beating out London for the first time. The average price per sq meter in Moscow luxurious apartments located in the centre of the city is US$20.85.
More from the Russia-ic.com
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Russia Vimpelcom to refinance debt via rouble bonds |
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Wednesday, 11 February 2009 12:19 |
MOSCOW, Feb 10 (Reuters) - Russia's No. 2 mobile operator Vimpelcom (VIP.N) is planning to issue more than $800 million worth of five year domestic rouble bonds to refinance foreign debt, the operator said on Tuesday.
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Russia's MTS buys mobile handset retailer |
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Wednesday, 11 February 2009 12:16 |
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MOSCOW, Feb 10 - MTS (MBT.N), Russia's largest cellphone operator, said on Tuesday it has acquired a local handset and mobile contracts retailer, Telefon.Ru, in a move to strengthen its position on the mobile distribution market.
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Russia investors launch distressed real estate funds |
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Wednesday, 11 February 2009 12:12 |
MOSCOW, Feb 10 (Reuters) - As Russia's property firms struggle to meet debt repayments, veteran Russian investors are sizing up their portfolios and getting ready to commit scarce cash to new distressed real estate funds.
Four Moscow-based investment managers interviewed by Reuters said they were lining up $1.1 billion in total to pick off high end real estate as Moscow's devastated white-collar businesses seek more modest rents and developers fail to refinance debt.
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