Chess Olympics 2010 in Russia

Russia does not have many cities that can boast their "Olympic" status. Very soon their number will be added up with Khanty-Mansiysk that will host the World Chess Olympics from September 19 through October 4, 2010.


In pre-Olympic Khanty-Mansiysk everything is changing for the better with every passing day. For example, yesterday the operating team of the Olympyiskaya Hotel, which will receive about 1,400 chess-players, started commissioning of the rooms. The catering for chess-players has been arranged. 


The Olympyiskaya Hotel is a 13-storey building for 846 rooms. The first and the second levels accommodate a restaurant, fitness-club, service and office facilities. Olympyiskaya offers both single suites and standard rooms for 2-3 people.Chess celebrities like Veselin Topalov, Magnus Carlsen and Vladimir Kramnik will be able to stay there with comfort.

10 more city hotels are ready to accommodate participants of the Chess Olympics. All the hotels are ready to offer their services to chess-players anytime. 


All the chess tables will be equipped with electronics. It will make it possible to broadcast the games in the Internet in the real-time mode. 


Chess enthusiasts will equally be interested in the FIDE Congress that will also take place during the Olympic days. The Congress will be held in the Chess Academy. This complex has no rivals in Russia. The total floor space of the Academy is 2,845 square meters. Its opening is scheduled for August 25, and at the end of September, there will be a grand ceremony, at which the new FIDE president will be elected and the capital of the Chess Olympics - 2014 will be named.


Khanty-Mansiysk is not a very large, but a comfortable city; visitors are always welcomed there.

Russian "Lukoil" Bonds Issue

Currently, an agreement concerning the purchase of Lukoil whole package from an American company

Federal Financial Markets Service (FFMS) of russia has registered 11 bond issues of OAO "LUKOIL" totaly amount to 100 billion rubles, according to the regulator.
There will be public subscription of bond issues of the series 05-15: series of 05-08 - in the amount of 5 billion rubles each issue,  series of 09-14 - 10 billion rubles,  series of 15 - 20 billion rubles.
The Board of Directors of LUKOIL on June 24, 2010 adopted decision on the deployment of these bond issues. The organizers of the issues are "Troika Dialog" and "Raiffeisenbank".

LUKOIL's authorized capital amounts to 21.26 million rubles, it is divided into ordinary shares of par value of 0,025 rubles. American "ConocoPhillips"  ownes 20% stake in Lukoil, the company's president Alekperov directly and indirectly holds more than 20% of the shares, vice-president Leonid Fedun owns about 10% of the shares. "ConocoPhillips" in late July announced plans to sell its entire stake. 

Russian "Norilsk Nickel" in I half of 2010 Boosted Revenues by 45%

Revenues of the world's largest producer of nickel and palladium "Norilsk Nickel" under RAS in the first half of 2010 increased by 44,6% compared to same period of the last year and amounted to 130.578 billion rubles, according to the company report.
Revenues of the enterprise in the first half of 2009 amounted to 90.303 billion rubles.
Earlier it was reported that net profit of the enterprise in the first half grew by 1,5 times - up to 69.21 billion rubles.
Gross profit for the period increased by 91% - to 91.141 billion rubles, profit from sales increased by 2 times - up to 83.499 billion rubles, profit before tax increased by 69% - to 86.321 billion rubles.
Norilsk Nickel is one of the world's largest producers of precious and nonferrous metals. Production facilities are located in Russia (in the Norilsk industrial region and the Kola Peninsula), Finland, USA, Australia, Botswana and South Africa. 


In Russia shares of Norilsk Nickel are traded on stock exchanges MICEX and RTS. ADR on the company's shares are traded on the OTC market in the U.S., on the London and Berlin stock exchanges. 

Russia Removes Ban on Delivery of Poultry From the U.S.A.

Russia has announced its readiness to allow supply of poultry meat from 68 out of 87 U.S. plants starting from August 16, 2010. According to the Russian authorities, the technology of production of chicken in these plants corresponds to the Russian requirements.

In August 13, 2010 in Geneva during US-Russian negotiations the parties agreed to resume shipments of poultry from 68 companies supplying such products previously. 
Meanwhile, the U.S. government disagrees with the decision of Russian authorities, stressing that, in their opinion, it does not comply with the agreement reached between the two Presidents Dmitry Medvedev and Barack Obama on 24 June 2010.,  Reuters reports.
"We will continue to demand from Russia to fulfill this agreement," - said in a statement, U.S. officials responsible for negotiations with Moscow on the supply of poultry meat from the U.S. to Russia.
About 54% of U.S. poultry companies, potentially ready to deliver products to Russia, does not meet the norms of Russian legislation. Rosselkhoznadzor implies compliance by type of processing poultry chlorine free solution or water with chlorine is not higher than in drinking water.
Such sanitary rules and norms are operating in Russia, according to the model of the European Union from January 1,2010. U.S. President Barack Obama, speaking at a joint press conference with his Russian counterpart, Dmitry Medvedev to find a compromise. Thus, American chicken processors have expressed willingness to use for decontamination of poultry meat instead of chlorine-containing solutions other substances. List of 12 drugs was presented to Russian services, but the results of official tests and a list of registered agents Rospotrebnadzor has not yet announced. In Rosselkhoznadzor, which will check the incoming batch of products from the U.S., expects to get this list until the arrival of the first vessel with poultry in the Russian port.

Investment Climate: Aims, Expectations and Results

The program of the IX International Investment Forum Sochi 2010 was updated. Information about briefings, round tables and discussions within the Forum has been published. 

PROGRAMME
OF IX INTERNATIONAL INVESTMENT FORUM SOCHI - 2010
16-19 SEPTEMBER 2010



Friday, 17 September 2010

PLENARY SESSION
«Investment Climate: Aims, Expectations and Results»

Speech by Vladimir Putin, Prime Minister of the Russian federation

ROUND TABLES

Briefing

• How to Build Faster, Cheaper and Better in Russia
• Business Security and New Law on Police
• Custom Union and Optimising Cross-Border Regulation to Fuel Economic Growth
• Migration Policy and Cross-Border and Visa Formalities as Means to Boost Economic Competitiveness
• Improving Tax Administration as the Principal Tool of Enhancing Tax Policy Efficiency
• Long-Term Projects: Transport Infrastructure Investments
• Regions and Investors: Requirements for Project Support and Preparation of Construction Sites

Round table
Living in Russia: How to Improve Living Environment?
Film Industry. Limits and Tools of State Interference
World Cup 2018 in Russia. Innovative Solutions

PRESENTATIONS BY THE REGIONS OF THE RUSSIAN FEDERATION AND CORPORATE PROJECTS


Saturday, 18 September 2010
CONFERENCE
"Economic Legacy of Mega Projects"

Round table

• Venture Financing. Business Practice, Government Problems
• Energy Efficient Businesses, Energy Efficient Projects
• Nanotechnology: in Search of Projects
• Innovative city: for Researchers, Businessmen and Investors
• North Caucasus: Investment Opportunities
• Prospects of Russia's Market for Computer and Information Technology
• Working in Russia: Management Culture, Workforce Potential and Efficiency
• Developing International Tourism in Russia: What Is to Be Done?

 http://www.forumkuban.com/programme.php

Interclub of IX International Investment Forum 'Sochi - 2010" in Russia

The organizers of the IX International Investment Forum Sochi - 2010 defined area for business and informal meetings of foreign participants - "Interclub", The "Interclub" free zone will be submitted for presentations and business meetings, a zone of free communication, Wi-Fi with free Internet access. 

During the entire period of the IX International Investment Forum Sochi - the "Interclub" plasma screens will be broadcasting the plenary sessions in English, German, French, major conferences and round tables in English. Help would be supported by qualified interpreters and volunteers with knowledge of foreign languages. 

For more information, please visit http://forumkuban.ru/index.php

Week of Ticino (Switzerland) in Moscow

From 8 to 12 September 2010  the Week of the canton Ticino (Switzerland) in Moscow will be held. Presentations of the cantons of Switzerland in Russia are traditionally held since 2005 on the initiative of the Swiss side, with the assistance of the Swiss Embassy in Moscow and the organizational and informational support to the Commerce and Industry Chamber (CIC) of Russia.
According to the Swiss Embassy in Moscow massive delegation from Ticino, headed by the Prime Minister of the canton Luigi Pedratsini will arrive.
The delegation will include representatives of political and business circles, as well as cultural figures of the canton. It is expected that the economic bloc of the delegation will be represented by reputable business associations, as well as enterprises and companies operating in such sectors as banking and finance, tourism, industry (construction, electronics, mechanics, pharmaceuticals).
One of the most important events of the week will be the presentation of the economy of the canton, which will be held on September 10. The event will provide an opportunity to learn about economic development and specialization of the canton and establish personal contacts with representatives of the Swiss business circles.

International Cooperation Department of the CIC RF.

VTB 24 Will Sell Overdue Loans to Debt Collectors in August

"VTB 24" is the second largest retail bank in Russia expects to close the sale of overdue loans to the population at 6.8 billion rubles to debt collectors by the end of August. 

The bank plans to sell non-collateral loans with the small size of the remaining debt: pools of loans in cash and credit card debt. These loans are not concentrated in any one region, and dispersed throughout the country.
The bank's loan portfolio increased by approximately 5% in 2010 and amounted to 487 billion rubles. The portfolio will be actively growing in the second half of 2010, and the annual increase will reach 15-20%. At the beginning of this year, this portfolio amounted to 464 billion rubles.

Foreign Investment In Russian Republic Chuvashia

In the I half of 2010 in different organizations of the republic has received foreign investments in the amount of  203.0 million rubles. Investments were received mostly from Spain. 

At the end of June 2010 the organizations of the republic accumulated investment (in accordance with the constituent documents, contracts, etc.) in the amount of $13.8 million and 5,067.4 million rubles. In the total amount of accumulated investments in capital contributions amounted to 8,3 million and 3,920.9 million rubles.
From foreign countries (including the Baltic countries) substantial funds were invested by 


- Netherlands (8157.3 thousand dollars, or 59.3% of total accumulated investments), 
- the United Arab Emirates (2483.0 thousand dollars, or 18.1% ), 
- Finland (1677.0 thousand dollars, or 12.2%), 
- USA (1143.5 thousand dollars, or 8,3%),
- Cyprus (1,975.2 million rubles, or 39,0%), 
- Spain (1,243.0 million rubles, or 24,5%), 
- USA (1,171.1 million rubles, or 23,1%) , 
- British Virgin Islands (606.0 million rubles, or 12,0%), 
- the Commonwealth of the Bahamas (31.9 million rubles, or 0.6%), 
- Poland (29.3 million rubles, or 0 , 6%). 
- CIS countries (1604.0 thousand rubles and 137,3 thousand U.S. dollars).
Economic Development Ministry of Chuvashia (the Russian Federation)

New Ski Resort Construction in Russia

"Lagonaki" will be one of the five resorts included in the tourism cluster of the North Caucasus region and Adygea. "The project is the establishment of the Republic of Adygea and Krasnodar network of ski resorts worth 451 billion rubles, submitted to President Dmitry Medvedev at an international forum in St. Petersburg.

As the second largest project after the Olympic Sochi project Adygea will provide preferences and tax incentives. Over the past three years 580 million rubles of private investment were invested in the construction of new facilities and renovating of the existing tourism industry.

Based on materials from a news official site of the Republic of Adygea http://www.adygheya.ru/press/news/