Norilsk Nickel

Russia's Alfa Bank asks $400 million from state

MOSCOW -- A bank belonging to one of Russia's biggest tycoons said Friday it is seeking a $400 million long-term loan from national development bank VEB to pay off a $2 billion loan to a group of banks led by Deutsche Bank AG.

Russia's Alfa Bank asks $400 million from state

MOSCOW — A bank belonging to one of Russia's biggest tycoons said Friday it is seeking a $400 million long-term loan from national development bank VEB to pay off a $2 billion loan to a group of banks led by Deutsche Bank AG.

Russia's Alfa Bank asks $400 million from state

MOSCOW -- A bank belonging to one of Russia's biggest tycoons said Friday it is seeking a $400 million long-term loan from national development bank VEB to pay off a $2 billion loan to a group of banks led by Deutsche Bank AG.

Russia's Alfa Bank asks $400 million from state (AP)

A bank belonging to one of Russia's biggest tycoons said Friday it is seeking a $400 million long-term loan from national development bank VEB to pay off a $2 billion loan to a group of banks led by Deutsche Bank AG.

Bailing out the bear

The Russian government lends $10 billion to cash-strapped firmsRussia has started to lend money to cash-strapped corporates that need to repay loans, with nearly US$10bn dispersed from a pot of US$50bn. The latter should be...

Norilsk Nickel to cut 10 pct Moscow office staff

MOSCOW, Oct 31 (Reuters) - Norilsk Nickel, the world's largest nickel miner, will cut 10 percent of the workforce at its central office in Moscow due to the financial crisis, Norilsk spokesman Viktor Borodin said on Friday. The...

Russian Stocks Rocket With Bailout of Tycoons

Bloomberg News Friday, October 31, 2008; Page D03 MOSCOW, Oct. 30 -- Russia's stock market surged Thursday as the government appeared to be implementing a $50 billion bailout to refinance debt owed by some tycoons. Prime...

The Bailout Trap

First Fridman, then Deripaska. Now a report in Reuters points out the obvious fact that the acceptance of corporate welfare in Russia is a Faustian bargain: The billionaires have transferred stakes in some of their most prized...

Kremlin keeps assets under Russian thumbs

ROME -- The Russian government has agreed to lend $4.5-billion (U.S.) to a key arm of Oleg Deripaska's empire, but the bailout is as much about saving MMC Norilsk Nickel, the world's biggest nickel maker, from foreign control...

US refused oligarch visa over alleged 'criminal associations'

Oleg Deripaska, the Russian oligarch who entertained the business secretary, Lord Mandelson, and the shadow chancellor, George Osborne, on his yacht in Corfu this summer, was denied a visa to the US due to his alleged "criminal...