Alexander Frolov News
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Evraz Plc, Russia’s largest steelmaker by output, will study the potential sale of its lossmaking Czech unit where some operations were idled earlier this month because of weak demand.
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More than 1,300 miles (2,092 kilometers) from New York, on the uninhabited island of West Caicos, a group of European investors are helping to pick up the pieces from Lehman Brothers Holdings Inc.’s collapse.
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Evraz Plc, the Russian steelmaker that joins the U.K.’s benchmark FTSE 100 index on Dec. 19, is curbing sales this month in anticipation of improved prices next year, Chief Executive Officer Alexander Frolov said.
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Russian winter grains may be in better condition than estimated last month by the government because of warm weather in southern areas, putting the nation on track to boost cereal exports in the coming season.
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Russia, the world’s third-biggest wheat exporter last year, is forecast to get frosts and drought, which pose a risk for new season crops, the Federal Hydrometeorology and Environmental Monitoring Service said.
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Moisture levels in Russia’s Volga region, which produced about 20 percent of the national crop this season, may improve this month on above-average precipitation.
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Evraz Group SA , the Russian steel producer part-owned by billionaire Roman Abramovich , is seeking iron ore and steel assets in South Africa, and projects in East Siberia, Chief Executive Officer Alexander Frolov said.
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Arctic sea ice is melting faster than expected and this season’s loss may match the record reached three years ago, Russia’s environmental agency said.
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Intel Corp., world’s largest producer of semiconductors, supplied a Xeon 5600 series chip system to Russia’s state weather forecast center, letting it more than double computational capacity, according to the center’s management.
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Evraz Group SA, Russia’s largest steelmaker by output, said it ended talks on the potential sale of its 40 percent stake in coal producer OAO Raspadskaya “due to high market volatility.”
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