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SAINT PETERSBURG, RUSSIA - 2022/06/15: Novatek Logo seen on the St. Petersburg International Economic Forum 2022 (SPIEF 2022). (Photo by Maksim Konstantinov/SOPA Images/LightRocket via Getty Images)A fire broke out at a Baltic Sea terminal belonging to Novatek, Russia's largest liquefied natural gas producer, regional officials said on Sunday, amid reports of explosions and Ukrainian drone sightings in the area. "There were no casualties as a result of the fire at the Novatek terminal in the port of Ust-Luga. St. Petersburg-based news outlet Fontanka said at least two drones were spotted in the sky flying towards St. Petersburg before the terminal caught fire. That came a day after an attack on a Russian Baltic Sea oil terminal that Russian officials said was unsuccessful.
Persons: Maksim Konstantinov, Alexander Drozdenko, Drozdenko, Fontanka, Novatek Organizations: St ., Economic, Getty, Leningrad region's, Moscow, Kyiv Locations: SAINT PETERSBURG, RUSSIA, St, St . Petersburg, Novatek, Finland, Ust, Leningrad, Petersburg, Russia, Ukraine, Russia's, Bryansk, Baltic, Russian
A view shows a board with the logo of Sovcombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 17, 2022. REUTERS/Maxim Shemetov Acquire Licensing RightsMOSCOW, Dec 1 (Reuters) - Russian lender Sovcombank said on Friday it expects a market capitalisation of 200-219 billion roubles ($2.24-$2.46 billion)after its initial public offering (IPO) on Moscow Exchange later this month, the latest in a small flurry of Russian market debuts. Sovcombank said it has already received offers for half of the expected overall offer size from a number of major Russian institutional investors to participate in the IPO. Russian companies have raised around 29 billion roubles this year through IPOs, with listings characterised by small volumes and the presence of domestic retail investors. Pawn broker Mosgorlombard also announced its intention to list on Friday, expecting a free float of 36% after an early-December debut.
Persons: Maxim Shemetov, Sovcombank, Dmitry Gusev, Mosgorlombard, Elena Fabrichnaya, Alexander Marrow, Guy Faulconbridge, Susan Fenton Organizations: St ., Economic, REUTERS, Rights, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Moscow, Ukraine, IPOs
A view shows a board with the logo of Sovcombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 17, 2022. "We have funds in foreign currency for these payments, but we have not received any response from them yet, unfortunately." Avtukhov said Sovcombank was in dialogue with the UN on the matter. "We have not suspended our membership in international organisations," Avtukhov, who also sits on Sovcombank's board, said. There are certain difficulties with making payments in general for Russian participants of this programme," Avtukhov said.
Persons: Maxim, Sovcombank, Mikhail Avtukhov, Avtukhov, Elena Fabrichnaya, Alexander Marrow, Kirsten Donovan Organizations: St ., Economic, REUTERS, U.S . Treasury, United, Reuters, European Union, Foreign Assets, United Nations Environment, Finance Initiative, U.S, Treasury, UN, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Ukraine MOSCOW, Russian, United Nations, Sovcombank, Ukraine, Washington, Moscow
The logo of Forbes magazine is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin/File Photo Acquire Licensing RightsNov 21 (Reuters) - Forbes' parent company has called off its acquisition by Luminar Technologies (LAZR.O) CEO Austin Russell, as the billionaire could not come up with the financing, an internal Forbes memo seen by Reuters on Tuesday showed. Forbes was valued at $475 million in 2014 when Integrated Whale Media bought a majority stake in the company from the Forbes family and investment group Elevation Partners. Chinese conglomerate HNA Group made an unsuccessful bid to acquire a majority stake in Forbes in 2017, Reuters reported at the time. Forbes, one of the oldest U.S. media outlets, publishes its eponymous flagship magazine, which reaches 5 million readers.
Persons: Sergei Karpukhin, Forbes, Austin Russell, Mike Federle, Dawn Chmielewski, Helen Coster, Akash Sriram, Maju Samuel, Richard Chang Organizations: Forbes, St ., Economic, REUTERS, Luminar Technologies, Reuters, Forbes Media, The, Integrated Whale Media, Partners, HNA Group, Thomson Locations: St, St . Petersburg, Russia, Russell's, U.S, Los Angeles, New York, Bengaluru
REUTERS/Maxim Shemetov/File photo Acquire Licensing RightsMOSCOW, Nov 8 (Reuters) - Russia's biggest bank Sberbank (SBER.MM) expects a sharp cooling of the mortgage market following an expected 80% rise in mortgage lending this year, CEO German Gref said on Wednesday. Gref said the bank's mortgage issuance for the whole of 2023 was expected to reach 4.6 trillion roubles ($50.1 billion). VTB, Russia's number two bank, expects mortgage loans across the entire sector to total 7.2 trillion roubles this year, falling to between 5 and 5.5 trillion roubles in 2024. Vyacheslav Dusaleyev, head of retail business at Rosbank, gave corresponding forecasts of 7.3 trillion roubles this year and 5 trillion next year. Mortgage demand has remained buoyant in part because of the wide range of preferential offers available, according to the central bank.
Persons: Maxim, Gref, Sberbank, Vyacheslav Dusaleyev, Olga Polyakova, Elena Fabrichnaya, Mark Trevelyan, Christina Fincher Organizations: St ., Economic, REUTERS, Rights, Mortgage, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Moscow, Rosbank
Two other Baltic telecoms cables were damaged on the same night of Oct. 7 along the route that the ship was travelling, according to shipping data reviewed by Reuters. NewNew Shipping, the owner and operator of the NewNew Polar Bear, has previously declined to comment when contacted by Reuters. TRAIL OF DAMAGEIn total, three Baltic telecoms cables and one pipeline were damaged in the space of less than nine hours. Data from shipping intelligence firm MarineTraffic, reviewed by Reuters, showed that the NewNew Polar Bear passed over a Swedish-Estonian telecoms cable at 1513 GMT, then over the Russian cable at around 2020 GMT, the Balticconnector at 2220 GMT and a Finland-Estonia telecoms line at 2349 GMT. Finnish police announced on Oct. 24 that they had found a ship's anchor near the broken gas pipeline.
Persons: Anton Vaganov, Rostelecom, Vladimir Putin, Gasgrid, Mark Trevelyan, Nerijus Adomaitis, Anne Kauranen, Terje Solsvik, Bill Berkrot, Matthew Lewis Organizations: Rostelecom, St ., Economic, REUTERS, Reuters, NewNew Shipping, Kremlin, Communications Ministry, St, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Finland, Estonia, Baltic, Beijing, Ukraine, China, Swedish, Estonian, St Petersburg, Kaliningrad, London
The logo of VTB bank is seen at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Maxim Shemetov/File Photo Acquire Licensing RightsMOSCOW, Sept 11 (Reuters) - Russia's state-owned VTB bank (VTBR.MM) will make a record profit this year, even though dividends are unlikely, the lender's CEO Andrei Kostin told Russian newspaper RBC in an interview published on Monday. RBC quoted Kostin as saying: "Our profit forecasts this year are good, the year is going well. Our target for net profit is 400 billion roubles ($4.13 billion), but I think we will eventually exceed this level and earn record profits." On the urgent recommendation of the central bank, we have suspended ... dividends," the newspaper quotes Kostin as saying.
Persons: Maxim, Andrei Kostin, Kostin, VTB, Elena Fabrichnaya, Felix Light, Christina Fincher Organizations: St ., Economic, REUTERS, Rights, Russian, RBC, United Shipbuilding Corporation, Kremlin, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Ukraine, India
The logo of Russian bank Otkritie is seen at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. Otkritie says Goldman owes the money in connection with a derivatives agreement and wants the claim to be handled in the Moscow Arbitration Court. Otkritie, owned by state bank VTB (VTBR.MM), says in a filing with the court that Goldman Sachs cited sanctions introduced against Moscow by the United States and Britain over Ukraine in failing to settle the debt. A lawyer for Goldman asked on Thursday for the lawsuit to be dismissed on the grounds the Moscow court had no jurisdiction. Otkritie's lawyer said the Moscow court should have sole jurisdiction and that sanctions essentially prevented Otkritie from accessing justice services in the UK.
Persons: Maxim, Goldman Sachs, Otkritie, Goldman, Detsky Mir, Elena Fabrichnaya, Mark Trevelyan, David Evans Organizations: St ., Economic, REUTERS, Russia's, Court, Moscow, Reuters, London Court, International, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Ukraine MOSCOW, Moscow, London, United States, Britain, Ukraine
Arkady Volozh, Co-Founder and Chief Executive Officer of Yandex Group of Companies, attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 7, 2019. REUTERS/Maxim Shemetov/File PhotoAug 10 (Reuters) - The co-founder of Russian internet giant Yandex (YNDX.O), Arkady Volozh, on Thursday condemned what he described as Russia's "barbaric" invasion of Ukraine, days after criticism in Russia over his apparent efforts to distance himself from the country. "Russia's invasion of Ukraine is barbaric, and I am categorically against it," Volozh said in a statement. Volozh developed Yandex in Russia, creating the country's largest tech company and ultimately taking it public on the U.S. Nasdaq stock exchange in 2011. Since Russia invaded Ukraine in February 2022, Yandex has sought to balance domestic pressure on one side with its Western investors on the other.
Persons: Arkady Volozh, Maxim, Volozh, , Yandex, Alexander Marrow, Jason Neely Organizations: Yandex, of Companies, St ., Economic, REUTERS, U.S, Nasdaq, European Union, Thomson Locations: St, St . Petersburg, Russia, Ukraine, Kazakhstan, Ukraine –, Israel, Yandex
Putin's show of Russia's economic strength won't fool any "sane investor," Carnegie scholar Alexandra Prokopenko said. She pointed to Russia's growing budget deficit and labor shortage as its war on Ukraine drags on. Experts have warned of trouble for Russia's economy as war and sanctions bite into the nation's finances. GDP could grow as much as 2% this year, Putin estimated, adding that the nation's military spending had only resulted in a "small" budget deficit so far. The Kremlin's official statistics also give a misleading view of Russia's economy, she said.
Persons: Alexandra Prokopenko, , Vladimir Putin, Putin, Prokopenko, it's, SPIEF Organizations: Carnegie, Service, Carnegie Russia Eurasia Center, Central Bank of Russia, St ., Economic, Carnegie Endowment, International, Defense Ministry, Yale Locations: Ukraine, St, St . Petersburg, Russian
While on a working visit to Russia, the UAE president briefly toured the country’s pavilion at the St. Petersburg International Economic Forum (SPIEF). For the UAE, this is a “calculated risk” it is willing to take, part of the Gulf nation’s policy of de-escalation and dialogue in an increasingly polarized world, a top UAE official told CNN in exclusive comments on Thursday. “This polarization has to be broken,” Anwar Gargash, the diplomatic adviser to the UAE president, said. Meanwhile, its bilateral trade with Russia increased by 68% to $9 billion in 2022, mostly Russian exports to the UAE. But the UAE’s policy towards Russia has invited warnings from the US that individuals and institutions that allow Russia to evade sanctions risk losing access to G7 markets.
Persons: Mohamed bin Zayed, ” Sheikh Mohammed, Putin, ” Anwar Gargash, , Sheikh Mohamed, Gargash, , ” Gargash, Brittney, Victor Bout, Sheikh Mohamed’s, Griner, Dina Esfandiary, Abdullah bin Touq Al Marri, Esfandiary Organizations: UAE CNN —, West, United Arab Emirates, St ., Economic, UAE, CNN, Putin, Crisis Locations: Abu Dhabi, UAE, Ukraine, Russia, St, St . Petersburg, , Europe, East, North Africa, United States, Al Dhafra, Israel, China, Iran, Turkey, SPIEF, Emirates
Russian President Vladimir Putin gives a speech at a plenary session of the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 16, 2023. President Vladimir Putin on Friday cited positive data points to laud Russia's economic health and said surging defense spending was needed to boost national security, as Moscow grapples with the cost of fighting in Ukraine. Analysts and data, however, suggest that slumping energy revenues and soaring military spending have played a key role. "I should say that on the whole this justifies itself from an economic point of view," Putin added. The central bank has repeatedly warned that a labor shortage is exacerbating inflationary risks, and analysts have named it one of the most significant drags on Russia's economic progress.
Persons: Vladimir Putin, laud, Putin Organizations: Saint Petersburg, Economic, St Petersburg, Monetary Fund Locations: Saint Petersburg, Moscow, Ukraine
[1/2] A view shows the logo of Sber (Sberbank) at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Anton Vaganov/File PhotoMOSCOW, June 14 (Reuters) - Russia's dominant lender on Wednesday said individuals could now open accounts in Indian rupees, expanding the range of foreign currencies available as Moscow strives to reduce dependency on the U.S. dollar and euro. "As Sberbank has highlighted, the bank supports the trend of de-dollarisation and constantly increases the number of foreign currencies available to clients," Sberbank said in a statement. Sberbank has more than 100 million retail clients and already offers deposits in China's yuan and UAE dirhams. "Other soft currencies are still only looking for their consumers in Russia, acting as niche offers," he added.
Persons: Anton Vaganov, Sberbank, Anatoly Pechatnikov, Elena Fabrichnaya, Alexander Marrow, Louise Heavens, Sharon Singleton Organizations: St ., Economic, REUTERS, U.S ., UAE dirhams, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, MOSCOW, Moscow, yuan, UAE
[1/2] Participants gather near a screen showing Russian President Vladimir Putin, who delivers a speech at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 17, 2022. The forum in St Petersburg, the former imperial capital built by Tsar Peter the Great 300 years ago as a "window" to Europe, has been held since 1997 and is cast by many officials as Russia's answer to the World Economic Forum held in Davos. Western journalists have never before been banned from the forum in such a blanket way. "It has indeed been decided this time not to accredit publications from unfriendly countries to the SPIEF," Kremlin spokesman Dmitry Peskov told TASS, using the acronym for the forum. "Unfriendly countries" is a definition used by Moscow to describe those who have sanctioned it over the war in Ukraine.
Persons: Vladimir Putin, Anton Vaganov, Tsar Peter the Great, Dmitry Peskov, Peskov, Prince Abdulaziz bin Salman, Alexander Novak, Putin, Guy Faulconbridge, Christina Fincher, Angus MacSwan Organizations: St ., Economic, REUTERS, St Petersburg, Reuters, Russian, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, MOSCOW, St Petersburg, Europe, Davos, Moscow, Ukraine, Saudi Arabia, China
REUTERS/Maxim ShemetovSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Feb 27 (Reuters) - Russian banks and politicians have played down the latest foreign sanctions on Russian lenders, promising speedy solutions to any problems with clients' foreign currency dealings. Those sanctioned last week have responded in a largely relaxed manner, with some saying disruption will be limited and others restricting foreign currency transactions or suspending euro trading on brokerage accounts. Russia's major banks have rallied after an initial hit from last year's Western sanctions and now jostle for business from the state, particularly a burgeoning defence budget, and big corporate accounts. Sanctions have mostly hurt Russians wanting to travel abroad or hold foreign currency. Alexander Shokhin, Russia's top business lobby chief, was more cautious, saying the situation could change rapidly, and that Russian banks needed to act pre-emptively.
[1/2] A view shows the logo of Sber (Sberbank) at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Anton Vaganov/MOSCOW, Feb 9 (Reuters) - Russia's finance ministry said on Thursday it expects state-owned lender Sberbank (SBER.MM) to pay dividends of at least 50% on its 2022 profits, a prospect that drove up Sberbank shares and the wider Moscow Exchange stock index. We will discuss this further," the TASS news agency quoted Deputy Finance Minister Vladimir Kolychev as saying. Sberbank, in common with other major Russian companies, did not pay a 2021 dividend last year on the government's orders. The rouble-based MOEX index (.IMOEX) pared losses to climb 0.6% higher on the day, while Sberbank shares did the same, gaining around 1.6% by 1333 GMT and nearing a multi-month high.
[1/2] President and Chairman of the Board of MMC Norilsk Nickel Vladimir Potanin attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 6, 2019. REUTERS/Maxim ShemetovJan 23 (Reuters) - Nornickel boss Vladimir Potanin, one of Russia’s richest men, said on Monday that the metals giant was reworking its strategy and building closer ties with countries such as China, Turkey and Morocco because of Western sanctions on the Russian economy. We have to deal with all this," added Potanin, who is Nornickel's (GMKN.MM) chief executive and biggest shareholder, owning 36% through his Interros holding group. Potanin reiterated the view he stated soon after the war began, that Russia should not respond to sanctions by confiscating or nationalising Western assets. Potanin was placed on a U.S. sanctions list last month as part of wider measures targeting people and businesses close to President Vladimir Putin.
A view shows a board with the logo of Russian state nuclear agency Rosatom at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 16, 2022. REUTERS/Anton VaganovSummarySummary Companies This content was produced in Russia, where the law restricts coverage of Russian military operations in UkraineMOSCOW, Oct 21 (Reuters) - The Russian state nuclear corporation Rosatom said on Friday that the United States had effectively blocked Russia's participation in a nuclear energy conference in Washington by failing to issue entry visas. Relations between the United States and Russia have sunk to their lowest level since the depths of the Cold War after Moscow sent its armed forces troops into Ukraine in February. "The American side has effectively blocked Russia's participation in this international IAEA conference, which it undertook to hold in the United States." The corporation plays a large role in the global nuclear industry and, unlike many Russian state enterprises, has not been subjected to Western sanctions over the conflict in Ukraine.
Register now for FREE unlimited access to Reuters.com RegisterThe energy crisis triggered by the war in Ukraine has renewed interest in nuclear power. But without a reliable source of the high assay low enriched uranium (HALEU) the reactors need, developers worry they won't receive orders for their plants. But only TENEX, which is part of Russian state-owned nuclear energy company Rosatom, sells HALEU commercially at the moment. And this chicken and egg conundrum is complicating the smooth development of HALEU supply. "A reliable HALEU supply is one of many factors under consideration," the company said in an emailed statement.
Russia's Foreign Ministry spokeswoman Maria Zakharova speaks during a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 16, 2022. REUTERS/Maxim ShemetovOct 20 (Reuters) - Russia's foreign ministry on Thursday welcomed the departure of British Prime Minister Liz Truss, saying she was a disgrace of a leader who would be remembered for her "catastrophic illiteracy". "Britain has never known such a disgrace of a prime minister," Foreign Ministry spokeswoman Maria Zakharova said in a social media post. Foreign ministry spokeswoman Zakharova's reference to illiteracy appears to refer to that trip, when Truss was British foreign minister. In a meeting with Russia's veteran foreign minister, Sergei Lavrov, she appeared to confuse two regions of Russia with Ukraine, drawing mockery in Russian media.
People walk past the logo of Russian payment system Mir at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Maxim Shemetov/File PhotoWASHINGTON, Sept 20 (Reuters) - Steps that Turkish lenders Isbank and Denizbank took to suspend the use of Russian payment system Mir make a lot of sense, a senior U.S. administration official said on Tuesday, and said the United States expects more banks will cut off Mir over sanctions risk. "We expect more banks to cut off Mir because they don’t want to risk being on the wrong side of the coalition’s sanctions." Washington and its allies have imposed several rafts of sanctions targeting Moscow following Russia's Feb. 24 invasion of Ukraine, including targeting Russian banks and President Vladimir Putin. NATO member Turkey opposes Western sanctions on Russia on principle and has close ties with both Moscow and Kyiv, its Black Sea neighbors.
Fondul suveran al Rusiei îşi va vinde toate activele în dolari americani pentru a majora ponderea deţinerilor în euro, yuani şi aur, a declarat joi ministrul rus al Finanţelor, Anton Siluanov, adăugând că aceste modificări ar urma să aibă loc pe parcursul următoarelor săptămâni, transmite Reuters, citează Agerpres. Oficialul citat a precizat că, după ce vor fi operate aceste modificări, fondul suveran al Rusiei va deţine 40% din active în euro, 30% în yuani şi 20% în aur. Fondul suveran al Rusiei este fondul unde se acumulează veniturile din exporturile de petrol ale Rusiei. Conceput iniţial ca un fond care să sprijine sistemul public de pensii, fondul suveran al Rusiei avea la 1 mai anul curent active în valoare de 185,9 miliarde dolari. Decizia de a renunţa la activele în dolari în cazul fondului suveran nu va afecta cursul de schimb al rublei, a subliniat prim-vicepremierul rus, Andrei Belousov.
Persons: Rusiei îşi, Anton Siluanov, Andrei Belousov, Tim Ash, Vladimir Putin, Joe Biden Organizations: Reuters, ING, BlueBay, Management, Banca Centrală Locations: Rusiei, Agerpres, Rusia, Crimeea, Sankt Petersburg, SUA, american
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