OAO RusHydro, the Russian renewable energy producer that has lost about 40 percent of market value in the past year, rallied in Moscow and New York as company officials take advantage of the decline to buy back stock.
Leonid Fedun said he’s spent almost $1 billion to return Spartak Moscow to the glory it achieved in his youth, when it was Russia’s top soccer club. The billionaire plans to take the team public after building a new stadium.
Leonid Fedun, the billionaire deputy chief executive officer of OAO Lukoil, said any negative effect on the second-biggest Russian oil company from the rising ruble is being countered by gains from crude prices moving in tandem.
Crude oil exports from the Commonwealth of Independent States may drop 17 percent by 2040 as tight oil production in the U.S. soars, the Russian Academy of Sciences said in a presentation on its website.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Leonid Fedun , Deputy Chief Executive Officer of OAO Lukoil , may increase his stake in Russia’s second-largest oil producer to 10 percent by acquiring a 0.7 percent share, Kommersant reported, citing an unidentified official.