Renaissance Capital News
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Elena Kolchina, head of fixed income at Renaissance Asset Managers, said she is leaving the Moscow investment firm following its acquisition by Kazimir Partners.
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Dangote Cement Plc, the Nigerian industrial company owned by Africa’s richest man, sold a 1.5 percent stake to an unidentified sovereign wealth fund, according to Renaissance Capital, which helped manage the sale.
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Russia’s central bank left its main interest rates unchanged at Sergey Ignatiev’s final meeting as chairman, signaling that his successor Elvira Nabiullina may have grounds to cut once inflation begins to slow.
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Russia’s dollar-denominated RTS Index entered a bear market and futures contracts pointed to further declines as prospects for weaker commodity prices sour investor sentiment in the world’s biggest energy exporter.
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OAO TNK-BP Holding, the traded unit of the oil venture that OAO Rosneft bought for $55 billion, fell the most in almost two weeks as the board recommended waiving dividends for last year.
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Russian billionaire Mikhail Fridman suffered a second setback this year for an effort to expand his telecommunications empire as his bid for Orascom Telecom Holding SAE failed to win support.
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Renaissance Capital, the investment bank owned by Russian billionaire Mikhail Prokhorov, cut coverage of more than 60 companies in Russia, Kazakhstan, Ukraine, Africa and Hong Kong.
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Inflation in Zambia, Africa’s biggest copper producer accelerated for the first time in five months in May after retail fuel prices increased by more than a fifth.
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Russia’s thirst for modern rigs able to drill in shale oil deposits heralds a $9 billion bonanza for manufacturers including National Oilwell Varco Inc. of the U.S. and China’s Honghua Group.
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Russian billionaire Mikhail Fridman suffered a second setback this year for an effort to expand his telecommunications empire as his bid for Orascom Telecom Holding SAE failed to win support.
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