Russia’s oil pipeline monopoly Transneft saw its 2011 net profit soar 53.1 percent year-on-year to 191.218 billion rubles ($6.17 billion) to IFRS, the company said in a statement on Thursday. The company’s pre-tax profit rose 50 percent to 235.529 billion rubles, while Transneft’s revenue grew 50 percent last year to 670.270 billion rubles. Operational...
Russia’s largest grocery chain, X5 Retail Group, saw first quarter 2012 net profit fall 31.6 percent year-on-year to $66.3 million to IFRS, the company said in a statement on Thursday. X5′s net profit was above a consensus forecast of analysts polled by RIA Novosti of $64.6 million, with first quarter Earnings Before Interest, Taxation,...
The Russian authorities have no concerns about the state of the federal budget despite falling global oil prices, Kremlin economic aide Arkady Dvorkovich said on Thursday. “So far, oil prices are higher than stipulated in our budget projections and so there is no concern about that,” Dvorkovich said. The amendments to the 2012 budget...
Russia’s fourth largest steelmaker Novolipetsk Steel (NLMK) saw first quarter 2012 net profit increase 13 percent quarter on quarter to $173 million to US GAAP, the firm said in a statement on Thursday. The company’s net profit was below a consensus forecast of analysts polled by RIA Novosti of $185 million, with first quarter...
Deciphering equipment for the voice recorder of a crashed Russian passenger jet will be delivered to Jakarta from Moscow on Thursday morning, the Russian Industry and Trade Ministry reported. The Russian Sukhoi Superjet 100 (SSJ-100) passenger jet slammed into a steep side of Indonesia’s Mount Salak near Jakarta shortly after takeoff on a demonstration...
Russian Prime Minister Dmitry Medvedev will on Thursday attend the second St. Petersburg International Legal Forum. The forum, to be held on May 17-19, will discuss measures to counter corruption, the legal framework of the World Trade Organization, antitrust regulation, implementation of commercial arbitration courts’ rulings, the legal regime of the internet and other...
Cossacks and radical traditionalists picketed two modern art exhibits by prominent curator Marat Guelman in the southern Russian city of Krasnodar this week, trying to storm the premises and spitting in his face. Some 40 activists protested the Danger! Museum exhibit in Krasnodar on its opening day on Wednesday, the exhibit’s organizers said. The...