Bank of Cyprus moves into Russia
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The Bank of Cyprus wins a license to start limited operations in Russia, a market it has called dynamic.
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A Russian bank says it has transferred $25m to North Korea, removing an obstacle to nuclear disarmament.
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Finance Minster Alexei Kudrin said Wednesday that a new domestic offering for shares in Russia's largest state-controlled bank had brought in $8.8 billion, a Russian news agency reported.
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Rosneft, the state-owned Russian oil company, has reportedly moved to take control of Yuganskneftegaz, formerly Yukos&#39;s most important oil production plant.
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Russia could eventually try to acquire a blocking minority in the European aerospace group EADS, an aide to Russian President Vladimir Putin has revealed after a Russian public bank acquired a five-percent stake in the company.
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Russia has accepted a U.S. request that a Russian bank help end a stalemate over frozen North Korean funds that has halted progress in the North's nuclear disarmament, a news report said Sunday.
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Cyprus and Malta clear the final hurdle and are now set to adopt the euro on 1 January 2008.
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Russia's oil major Lukoil transferred Friday a majority stake in its Bulgaria-based refinery Neftochim to a Dutch filial in a step of a plan to consolidate its holdings in Europe.
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The largest gold mining company in Russia, Polyus, listed shares on the London Stock Exchange on Monday.
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Cyprus submits its formal application to adopt the single European currency, hoping to join the euro by the start of 2008.
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Worries over the political situation have sparked a run on Ukraine's banks, the country's central bank admits.
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Russia moved to bolster its role in the strategic energy sector as gas giant Gazprom said it would acquire state oil firm Rosneft, handing the government control of the world's largest gas producer.
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Russia has split its oil proceeds into two funds and has cleared the way for one to invest in foreign stocks and bonds, officials said. Actual investments are not expected to begin until next fall.
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Central bank joins with counterparts in other countries to get funds into the financial system.
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The second-largest cellphone operator in Russia and the Commonwealth of Independent States said the $4.3 billion deal will create the regionâs first integrated fixed-to-mobile provider.
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RBC, 16.12.2004, Moscow 18:15:25.Foreign banks that will provide credits to a possible buyer of Yuganskneftegaz may gain control over this enterprise, Igor Yurgens, the Vice President of the Russian Union of Industrialists and Entrepreneurs told Echo of
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China lent Russia $6bn to help renationalise the key Yugansk unit of oil group Yukos, the Kremlin reveals.