Collection of Reports on Situation with Human Rights in the Russian Federation in 2015 2
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Company News SECURITIES MARKET NEWS
SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody April 5, 2018 Issue No. 2018/12 Company News Commercial Port of Vladivostok’s shares rise 0.5% on April 3, 2018 On April 3, 2018 shares of Commercial Port of Vladivostok, a unit of Far Eastern Shipping Company (FESCO) of Russian multi-industry holding Summa Group, rose 0.48% as of 10.12 a.m. Moscow time after a 21.72% slump on April 2. On March 31, the Tverskoi District Court of Moscow sanctioned arrest of brothers Ziyavudin and Magomed Magomedov, co-owners of Summa Group, on charges of RUB 2.5 bln embezzlement. It also arrested Artur Maksidov, CEO of Summa’s construction subsidiary Inteks, on charges of RUB 669 mln embezzlement. On April 2, shares of railway container operator TransContainer, in which FESCO owns 25.07%, fell 0.4%, and shares of Novorossiysk Commercial Sea Port (NCSP), in which Summa and oil pipeline monopoly Transneft own 50.1% on a parity basis, lost 1.61%. Cherkizovo plans common share SPO, to change dividends policy On April 3, 2018 it was reported that meat producer Cherkizovo Group would hold a secondary public offering (SPO) of common shares on the Moscow Exchange to raise USD 150 mln and change the dividend policy to pay 50% of net profit under International Financial Reporting Standards. The shares grew 1.67% to RUB 1,220 as of 10:25 a.m., Moscow time, on the Moscow Exchange. Under the proposal, the current shareholders, including company MB Capital Europe Ltd, whose beneficiaries are members of the Mikhailov- Babayev family (co-founders of the group), will sell shares. -
Russian M&A Review 2017
Russian M&A review 2017 March 2018 KPMG in Russia and the CIS kpmg.ru 2 Russian M&A review 2017 Contents page 3 page 6 page 10 page 13 page 28 page 29 KEY M&A 2017 OUTLOOK DRIVERS OVERVIEW IN REVIEW FOR 2018 IN 2017 METHODOLOGY APPENDICES — Oil and gas — Macro trends and medium-term — Financing – forecasts sanctions-related implications — Appetite and capacity for M&A — Debt sales market — Cross-border M&A highlights — Sector highlights © 2018 KPMG. All rights reserved. Russian M&A review 2017 3 Overview Although deal activity increased by 13% in 2017, the value of Russian M&A Deal was 12% lower than the previous activity 13% year, at USD66.9 billion, mainly due to an absence of larger deals. This was in particular reflected in the oil and gas sector, which in 2016 was characterised by three large deals with a combined value exceeding USD28 billion. The good news is that investors have adjusted to the realities of sanctions and lower oil prices, and sought opportunities brought by both the economic recovery and governmental efforts to create a new industrial strategy. 2017 saw a significant rise in the number and value of deals outside the Deal more traditional extractive industries value 37% and utility sectors, which have historically driven Russian M&A. Oil and gas sector is excluded If the oil and gas sector is excluded, then the value of deals rose by 37%, from USD35.5 billion in 2016 to USD48.5 billion in 2017. USD48.5bln USD35.5bln 2016 2017 © 2018 KPMG. -
Company News SECURITIES MARKET NEWS
SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody December 27, 2018 Issue No. 2018/49 VTB Bank Custody wishes you a happy and prosperous 2019 New Year full of success, wealth and joy! Let all your dreams come true! Company News Government may consider EDC-Schlumberger deal in January-February 2019 On December 20, 2018 Andrei Tsyganov, Deputy Director of the Federal Antimonopoly Service, said that the Russian government’s commission for foreign investment control might consider an acquisition by U.S. oilfield servicing giant Schlumberger of a stake in Eurasia Drilling Company (EDC) in January-February. When asked about the date of the commission’s meeting where the EDC-Schlumberger deal might be discussed, he said that in January or in February. In July 2017, EDC’s shareholders approved the sale of a 51% stake in the company to Schlumberger. In November, the Federal Antimonopoly Service’s Deputy Director Andrei Tsyganov said that the service and Schlumberger were working on a mechanism to protect the company’s investment in EDC and Russian economic interests in case of new Western sanctions. In April 2018, Russian government’s commission for foreign investment control preliminarily approved Schlumberger’s bid to acquire between 25% plus one share and 49% in EDC. Promsvyazbank files RUB 282 bln suit versus former owners On December 21, 2018 it was reported that Russia’s Promsvyazbank filed RUB 282 bln suit against former executives and top managers of the bank and former beneficiary owners brothers Dmitry and Alexei Ananyev to the Moscow Arbitration Court. Promsvyazbank filed a suit to the Moscow Arbitration Court seeking redemption of losses from individuals who controlled the bank before December 15, 2017 - Dmitry and Alexei Ananyev - and against members of the management board, top managers, and executives that signed loss-making deals on behalf of the bank. -
European Science Review
European science review № 11–12 2014 November-December «East West» Association for Advanced Studies and Higher Education GmbH Vienna 2014 European Sciences review Scientific journal № 11–12 2014 (November-December) ISSN 2310-5577 Editor-in-chief Lucas Koenig, Austria Consulting editors Uwe Eisenberg, Austria Minik Olsen, Sweden International editorial board Melinda Boros, Hungary Miroslavka Murkovič, Slovenia Jana Ilyna, Russia Wu Pan, China Dragan Novak, Croatia Bondarenko Natalia, Russia Dirk Eggers, Germany Yashkova Tatiana, Russia Proofreading Kristin Theissen Cover design Andreas Vogel Additional design Stephan Friedman Editorial office European Science Review “East West” Association for Advanced Studies and Higher Education GmbH, Am Gestade 1 1010 Vienna, Austria Email: [email protected] Homepage: www.ew-a.org European Science Review is an international, German/English/Russian language, peer-reviewed journal. It is published bimonthly with circulation of 1000 copies. The decisive criterion for accepting a manuscript for publication is scientific quality. All research articles published in this jour- nal have undergone a rigorous peer review. Based on initial screening by the editors, each paper is anonymized and reviewed by at least two anonymous referees. Recommending the articles for publishing, the reviewers confirm that in their opinion the submitted article contains important or new scientific results. Instructions for authors Full instructions for manuscript preparation and submission can be found through the “East West” Association GmbH home page at: http://www.ew-a.org. Material disclaimer The opinions expressed in the conference proceedings do not necessarily reflect those of the «East West» Association for Advanced Studies and Higher Education GmbH, the editor, the editorial board, or the organization to which the authors are affiliated. -
EAP Task Force
EAP Task Force Document 5 Joint Meeting of the EU Water Initiative’s EECCA Working Group and the EAP Task Force Environmental Finance and Water Networks 29 March –1 April 2005, Chisinau, Moldova Overview of Domestic and International Private Companies Operating in the Water Utilities Sector in Russian Federation Participants are invited to take note of the document and to comment on it as appropriate. ACTION REQUIRED: For information, discussion, and endorsement. TABLE OF CONTENT: USED ABBREVIATIONS AND ACRONYMS..................................................................3 PREFACE........................................................................................................................4 ANALYTICAL SUMMARY...............................................................................................6 CHAPTER 1. GENERAL INFORMATION ABOUT DOMESTIC AND INTERNATIONAL PRIVATE COMPANIES OPERATING IN UTILITIES SECTOR IN RUSSIA..................................19 CHAPTER 2. EXPERIENCE OF DOMESTIC AND INTERNATIONAL PRIVATE COMPANIES IN IMPLEMENTING SPECIFIC PROJECTS......................................................................28 RUSSIAN UTILITY SYSTEMS....................................................................................................................29 ROSVODOKANAL......................................................................................................................................33 NEW URBAN INFRASTRUCTURE OF PRIKAMYE..................................................................................36 -
Finno-Ugric Republics and Their State Languages: Balancing Powers in Constitutional Order in the Early 1990S
SUSA/JSFOu 94, 2013 Konstantin ZAMYATIN (Helsinki) Finno-Ugric Republics and Their State Languages: Balancing Powers in Constitutional Order in the Early 1990s Most of Russia’s national republics established titular and Russian as co-official state languages in their constitutions of the early 1990s. There is no consensus on the reasons and consequences of this act, whether it should be seen as a mere symbolic gesture, a measure to ensure a language revival, an instrument in political debate or an ethnic institution. From an institutional and comparative perspective, this study explores the constitutional systems of the Finno-Ugric republics and demonstrates that across the republics, the official status of the state languages was among the few references to ethnicity built into their constitutions. However, only in the case of language require- ments for the top officials, its inclusion could be interpreted as an attempt at instrumen- tally using ethnicity for political ends. Otherwise, constitutional recognition of the state languages should be rather understood as an element of institutionalized ethnicity that remains a potential resource for political mobilization. This latter circumstance might clarify why federal authorities could see an obstacle for their Russian nation-building agenda in the official status of languages. 1. Introduction The period of social transformations of the late 1980s and early 1990s in Eastern Europe was characterized by countries’ transition from the communist administra- tive−command systems towards the representative democracy and market economy. One important driving force of change in the Union of Soviet Socialist Republics (USSR) was the rise of popular movements out of national resentment and dissatis- faction with the state-of-the-art in the sphere of inter-ethnic relations. -
Credit Suisse and UBS in Oil & Gas and Mining
Involvement of Credit Suisse in the global mining and oil & gas sectors A research paper prepared for Berne Declaration and greenpeace Switzerland June 2006 Jan Willem van Gelder with contributions of Sven Sielhorst (AIDEnvironment) Profundo Van Duurenlaan 9 1901 KX Castricum The Netherlands Tel: +31-251-658385 Fax: +31-251-658386 E-mail: [email protected] Website: www.profundo.nl Contents Scope of the Report ..................................................................................................1 Chapter 1 Credit Suisse - Oil & Gas ................................................................1 1.1 BP................................................................................................................1 1.1.1 Short profile of BP .......................................................................................1 1.1.2 Financial involvement of Credit Suisse........................................................1 1.1.3 Controversial issues ....................................................................................2 1.2 CNOOC .......................................................................................................3 1.2.1 Short profile of CNOOC...............................................................................3 1.2.2 Financial involvement of Credit Suisse........................................................3 1.2.3 Controversial issues ....................................................................................4 1.3 Gazprom .....................................................................................................5 -
Russia: Continued Violations of the Right to Free
RUSSIA: CONTINUED VIOLATIONS OF THE RIGHT TO FREE EXPRESSION July 2007 Freedom of expression is steadily deteriorating in the Russian Federation (Russia). Particularly alarming trends include the killing of journalists, and the absence of subsequent thorough and impartial investigations. Public officials, including at the highest level of the government, refuse to view the media as an independent critic and often regard it as a subordinate body aimed at furthering particular political goals. Media outlets who dare to voice independent opinions are silenced. The last year has also witnessed the suppression of opposition groups and peaceful demonstrations; the imposition of criminal sentences in freedom of expression cases; and attacks on minorities, whether religious, sexual or ethnic, thus further weakening Russia’s democratic credibility on the world stage. The instances described below constitute clear violations of the International Covenant on Civil and Political Rights and the European Convention of Human Rights, to which Russia is a party and which - in Article 19 and Article 10 respectively - guarantee the right to freedom of expression. The State parties to these conventions have an obligation to create an environment that encourages pluralism and political debate and to refrain from interfering in the work of the media. It is clear that such a pluralistic, open and diverse environment does not currently exist in Russia: while the media, journalists, opposition groups are silenced, the Russian public is deprived of its right to information and debate on matters of public importance. The following are just examples of the most serious instances. Death of journalists • Ivan Safronov, an investigative journalist for the Kommersant newspaper, died in mysterious circumstances on 2 March 2007, after falling from the window by the stairwell in his apartment block (one floor above his apartment). -
An Opera Based on Stories by Y U Ry Mamleev and Anton Chekhov an Opera Based on Stories by Yury Mamleev and Anton Chekhov
Deputy Director for Construction and Operations – Sergei Kotov Workshop Director – Oleg Kochukov Director, Artistic and Production Department – Natalya Avdonina Workshop Carpenter – Yevgeny Fyodorets Deputy Directors, Artistic and Production Department – Set Engineer – Tatyana Kudryavtseva An opera based on stories Alexandra Alexeev, Alexei Naumov Head of Production Department – Tatyana Khvorostyanaya by Yury Mamleev and Anton Chekhov Director, Sound Department – Alexander Mikhlin Company Manager – Nina Firsova PROSE Sound Engineers – Polina Beletskaya, Anastasia Khlystova Company Superintendent – Iraida Levandovskaya Director, Lighting Department – Mikhail Klimov First Deputy Director – Vladimir Povarnitsyn Composed and directed by Vladimir Rannev Performed by: Lighting Engineers – Artur Alenko, Vadim Gorbachyov, Deputy Artistic Director for International relations – Irina Tokareva Designed by Marina Alexeeva N’Caged ensemble: Sergei Malinin, Dmitry Matvienko, Olga Rossini, Natalia Kudryavtseva, Alexei Papkov, Konstantin Slabospitsky, Manager of International Department – Anna Isakova Lighting designed by Sergei Vasilyev Arina Zvereva / Alyona Parfyonova; Stanislavsky Electrotheatre chorus: Pavel Taran Deputy Artistic Director for Strategic Development – Musical director: Arina Zvereva Alina Gorina, Alyona Kakhuta, Tatyana Perevalova, Maria Menshenina, Video – Konstantin Vyuev, Vladislav Zinovyev, Vera Malysheva, Gleb Aleinikov Ilona Bul, Alyone Fyodorova, Yelena Byrkina Taras Khvorstyany Manager, Communications, Media and Development -
A N N E X E S
13255/07 Georgia v. Russia (I) A N N E X E S Annex 1 Summary of documents submitted by the applicant Government I. In their application of 27 March 2007 A. Summary of documents in English and Russian C. Summary of statements of Georgian citizens B. + D. Summary of media coverage of events II. In their observations in reply of 5 May 2008 Summary of documents in Georgian / Russian Annex 2 Summary of documents submitted by the respondent Government I. In their observations of 26 December 2007 . Summary of documents in Russian II. In their additional observations of 23 September 2008 . Summary of documents in Russian Annex 3 Report of 22 January 2007 by the monitoring committee of the Parliamentary Assembly 1 13255/07 Georgia v. Russia (I) Annex 1 I. A. Summary of the documents in English and Russian submitted by the applicant Government in their application of 27 March 2008 number Document type date 1 Summary/Translation The applicant Government submitted the Agreement between Georgia and Russia on the Terms and Rules of the temporary functioning and withdrawal of Russian Military Bases and other military facilities belonging to the Group of Russian Military Forces in Transcaucasia deployed on the Territory of Georgia. The Agreement was drawn up in Russian and Georgian and signed by both parties in Sochi, Russian Federation, on 31 March 2006. number Document type date 2 A. Council of Europe press release 6 October 2006; B. Council of the European Union press release 16-17 October 2006; C. Speech by Ms Benita Ferrero-Waldner, member 25 October 2006 of the European Commission with responsibility for and 6 March 2007 External Relations and European Neighbourhood Policy D. -
Company News SECURITIES MARKET NEWS
SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody October 24, 2019 Issue No. 2019/40 Company News German ruler clears Freight One to buy 50% in TransContainer On October 18, 2019 it was reported that the Federal Cartel Office of Germany cleared rail cargo operator Freight One, part of businessman Vladimir Lisin’s Fletcher Group, to buy a 50% plus two shares stake in container shipping company TransContainer. The company attained a permit for the deal from the Russian antitrust on October 11. An auction for a controlling stake in TransContainer belonging to Russian Railways is scheduled for November 27, with a starting price of RUB 36.159 bln. VTB Capital is the organizer. Bids are accepted from August 8 until November 15. A competitor for the stake must make RUB 3.616 bln initial payment. Several companies, including Freight One and Yenisei Capital expressed interest in the stake in TransContainer. Yenisei Capital affiliated with co-owners of Evraz Alexander Abramov and tycoon Roman Abramovich already holds 24.5051% in TransContainer. Uralkali to mull merger with unit, cancelation of treasury shares On October 21, 2019 it was announced that Russian fertilizer producer Uralkali scheduled an extraordinary general meeting of shareholders for December 4 to discuss a merger of the company with subsidiary Uralkali-Technology and cancelation of a quasi-treasury stake owned by the subsidiary. During the merger of the company with Uralkali, company’s own shares owned by the company will be canceled, the shares of the company owned by Uralkali will be canceled, and the shares of Uralkali owned by the company will be canceled. -
Internal Custody News Legislation Company News SECURITIES
SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody August 9, 2018 Issue No. 2018/29 Internal Custody News Changes to the Russian Tax Code Please be advised that on July 24, 2018 the State Duma of the Russian Federation adopted law # 489169-7 “On changes to certain legislative acts of the Russian Federation on taxes”. In accordance with this law the rate of Value Added Tax (VAT) will be increased from 18 to 20 per cent (p. 3 art.164 of the Russian Tax Code). The changes apply to services rendered from January 1 st 2019. Thus, invoices for Custody services, which are subject to VAT in accordance with the current legislation, starting from January 1 st 2019 would be issued taking into account the rate 20 percent. Legislation Putin signs into law bill on raising Russia’s VAT to 20% from 18% On August 6, 2018 it was reported that President Vladimir Putin signed into law a bill that raises value-added tax (VAT) to 20% from 18% starting from January 1, 2019. The bill also formalizes the insurance payments to social non-budgetary state funds at 30% instead of a previously planned increase. At the same time, the bill prolongs the zero VAT rate for passenger and cargo transportation to Crimea and the city of Sevastopol by air and sets the VAT rate for air flights to the Far East at zero until 2025. Company News European Commission approves UralChem’s purchase of Uralkali On August 3, 2018 the European Commission approved a bid of Russian fertilizer producer UralChem for a stake in another fertilizer producer Uralkali.