Renaissance Capital News
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Russian stock futures fell after an adviser to President Dmitry Medvedev said he should abandon plans to become premier after leaving his current role, casting doubt on the outlook for the country’s political landscape.
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Prime Minister Vladimir Putin said he owed a debt of gratitude to oil companies TNK and OAO Surgutneftegas for providing the cash needed to keep Russia’s seaborne nuclear forces in the Pacific afloat in 2002.
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Shares of Tullow Oil Plc, the U.K.- based explorer that operates Ghana’s Jubilee oil field, rose to a record in trading on the West African bourse.
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OAO Sberbank, Russia’s biggest lender, acquired Volksbanken International AG at a knockdown price after VBI shareholders injected additional equity to compensate for losses after the deal was agreed.
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VEB, Russia’s state development bank, will start accepting bids on $500 million of three-year domestic bonds from today to Feb. 17, according to a regulatory statement.
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Russian stock futures fell and OAO Mechel slipped in New York, widening its discount to Moscow to the most in more than two weeks, as worse-than-expected U.S. retail sales damped the outlook for global commodity demand.
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The ruble weakened against the dollar, paring yesterday’s gains, as Brent crude retreated and Moody’s Investors Service lowered the debt ratings of six European countries.
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Ekho Moskvy said its controlling shareholder, OAO Gazprom’s media unit, of seeking to dissolve the radio’s board a month after Prime Minister Vladimir Putin accused the station of vilifying him “from morning to night.”
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The ruble will weaken against the dollar this year as the central bank acts to subdue gains in the currency and protect exporters, according to Renaissance Capital.
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United Bank for Africa Plc, a Nigerian lender with operations in 19 countries, fell to the weakest level since October 2003 on a selloff, Renaissance Capital said.
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