Search Results for: Russia

BY KEITH NUTHALL
THE NEED for greater openness in the management of scarce water resources in Europe, north Africa, the Middle East and central Asia is required, to better highlight the growing costs of ensuring reliable supplies and persuade the public that more investment is needed to guarantee them.…

BY MARK ROWE
RUSSIA’S Norilsk Nickel has announced long-terms plans to boost its modernisation plan begun last year across its plants and products. Norilsk spent US$351 million on modernisation in 2002 and plans to invest the same amount in 2003, the company said.…

BY MARK ROWE
RUSSIA’S Natural Resources Ministry has ordered the Wm. Wrigley Jr. Company, the world’s largest chewing gum producer, to stop work at its St. Petersburg factory for unspecified ecological violations. Ministry officials have not disclosed what regulations Wrigley has allegedly violated but the company vigorously denies any wrongdoing and is continuing to operate.…

BY MARK ROWE
THE PARIS-BASED perfume business Sephora is in talks to buy L’Etoile, Russia’s largest cosmetics chain. L’Etoile, which is based in Moscow, has 101 stores in the city and also owns outlets in St Petersburg. The company’s sales amounted to US$90 million last year.…

BY KEITH NUTHALL
RUSSIAN poultry outfit Stavropolsky Broiler has been lent US$15 million by the World Bank’s International Finance Corporation. The money will help the Agros subsidiary rehabilitate and expand commercial broiler production in the Stavropol region of Russia, improving bird breeding, strengthening management, increasing production, providing working capital, and expanding distribution networks.…

BY RICHARD HURST
THE SOUTH African Competition Commission has given the green light to the proposed merger between Harmony Gold and African Rainbow Minerals Gold (ARMgold). The deal includes the acquisition of all the issued share capital of ARMgold by Harmony; once finalised, the merged business will be the largest gold producing company in South Africa.…

Keith Nuthall
FRANCE is giving Euro 40 million to the European Bank for Reconstruction and Development (EBRD) to help it fund Russia’s cleansing of the radioactive contamination in the Barents Sea caused by its aging decommissioned nuclear fleet. The money will be channelled through the nuclear-related budgets of the EBRD-managed Northern Dimension Environmental Partnership (NDEP) Support Fund, the principal financing arm of European Union policies aimed at cleaning up pollution in its neighbours to the north.…

Keith Nuthall
FRANCE is giving Euro 40 million to the European Bank for Reconstruction and Development (EBRD) to help it fund Russia’s cleansing of the radioactive contamination in the Barents Sea caused by its aging decommissioned nuclear fleet. The money will be channelled through the nuclear-related budgets of the EBRD-managed Northern Dimension Environmental Partnership (NDEP) Support Fund, the principal financing arm of European Union policies aimed at cleaning up pollution in its neighbours to the north.…

BY KEITH NUTHALL
THE REFORM of the world’s anti-money laundering campaign is continuing apace. Defying critics of its alliance with the World Bank and the International Monetary Fund, the Financial Action Task Force of the OECD has issued a revised set of its key 40 Recommendations to fight the crime.…

BY MARK ROWE
THE GERMAN plastic container caps producer Loeffler Kunststoffwerk has announced plans to open a new plant in Russia to create greater capacity for its major clients n the region, which include Proctor & Gamble. Loeffler Kunststoffwerk, a unit of US Seaquist, will open the new plant in Vladimir, just outside Moscow, in the late autumn.…