Today in Russian Business – August 26, 2009
Source: http://www.robertamsterdam.com/2009/08/today_in_russian_business_-_august_26_2009.htmPosted on Wednesday, August 26th, 2009 | In Market Commentary, Russia
The chairman of the German government-backed trust designed to oversee the sale of Opel has said that GM cannot afford
to keep control of the European unit, as it needs to focus on its
fortunes stateside. According to the New York Times, the company’s Vice President maintains that it wishes to sell but that certain questions remain. The president of AvtoVAZ, Boris Alyoshin, has resigned. Russia plans to create a holding company to put together the state’s stakes in the country’s two biggest car makers, Avtovaz and Kamaz. Car manufacturer Gaz is adapting to the conditions of a low-demand market, says its CEO. The Moscow Times reports that the number of consumers planning to buy a car within the next year has doubled to 6%. VTB has acquired rights to a controlling stake in developer Don Stroy. The Stem Cell Institute will hold Russia’s first IPO in a year, hoping to draw in around $4.75 million from investors. Sberbank will restart lending in foreign currencies next week as the risks of devaluation lessen. Viktor Vekselberg’s Oerlikon may slash up to 2,500 more jobs.
Last 5 posts by Robert Amsterdam
- Practicing Legal Nihilism - November 24th, 2009
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- Russia's China Envy - November 23rd, 2009
AvtoVAZ, Boris Alyoshin, car makers, ceo, Chairman, Don Stroy, GAZ;, German government, KamAZ, Market Commentary, president, Russia, Russia, Sberbank, Stem Cell Institute, the New York Times, USD, Vice President, Viktor Vekselberg, VTB
 About Robert Amsterdam (http://www.robertamsterdam.com/)
Robert Amsterdam is a lawyer and an advocate for rule of law. His blog was created to express views which may stimulate debate and discussion on topics of international interest. Robert believes that we live in a world of unchallenged impunity, and he views his blog as merely a small attempt to shine a light on issues he views as important in countries with which he is engaged. He make no apologies or pretense of objectivity - he is merely stating his opinions. |
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