Russia's richest man is chief executive officer of Gazprominvestholding. Usmanov's fortune stems from holdings in mining (Metalloinvest, Russia's largest iron ore producer), technology (Facebook, Twitter, Alibaba, Zynga, and Groupon through Digital Sky Technologies and Mail.ru) and telecommunications (MegaFon). He also co-owns U.K. soccer team Arsenal.
Alisher Usmanov News
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VEB, the state development bank with Russian President Vladimir Putin as chairman, agreed to lend as much as $300 million to billionaire Alisher Usmanov’s Udokan copper project in eastern Siberia for three years.
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OAO Gazprom and OAO Mechel fell, pushing an index of Russian stocks in New York to the longest run of declines in seven months, as concern the European debt crisis will deepen cut demand for commodities.
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Metalloinvest, the Russian iron-ore producer 20 percent-held by VTB Group, may exchange $2.48 billion in VTB promissory notes in return for the stake, Vedomosti reported, citing people it didn’t identify.
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Russian billionaire Alisher Usmanov, who controls 30 percent of the Arsenal Football Club with a business partner, will seek to boost the stake, according to an interview broadcast on state television.
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Alisher Usmanov’s Mail.ru Group Ltd. may transfer voting rights on its shares in the VKontakte social network to founder Pavel Durov to end a feud with him, the Russian billionaire said on Rossiya-24 state television.
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OAO GMK Norilsk Nickel headed to the highest closing price in a week in U.S. trading after billionaire Alisher Usmanov said he is buying shares in the company, world’s largest producer of nickel and palladium.
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OAO GMK Norilsk Nickel climbed for the first time in five days after Russian billionaire Alisher Usmanov said he’s increasing the stake he controls in the country’s biggest mining company.
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Emerging-market stocks rose for a fourth day, trimming declines in the week, as companies including OAO Gazprom and Tim Participacoes SA reported rising profits.
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The 30-stock Micex Index advanced 1.3 percent to 1,466.06 by 4:08 p.m. in Moscow, its biggest gain in more than a week.
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Russian stocks traded in the U.S. tumbled for an eighth straight week, the longest losing streak in almost four years, on concern President-elect Vladimir Putin won’t undertake the changes necessary to reform the economy.
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