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http://en.rian.ru/business/20101202/161588406.html
11:46 02/12/2010
MOSCOW, December 2 (RIA Novosti) - Russian pipe producer Chelyabinsk Tube-Rolling Plant made a 3.011 billion ruble IFRS first-half net profit, following a 2.840 billion ruble loss in the first half of 2009, the company said on Thursday.
Chelyabinsk Tube's sales grew 35% year-on-year to 717,000 tons in the first half of 2010. Revenue rose 37% to 37.646 billion rubles in the same period.
The company's ifirst half EBITDA rose 440% to 9.163 billion rubles, EBITDA margin to 24% from 6%. Pre-tax profit amounted to 4.372 billion rubles after a 2.894 billion ruble loss year-on-year. First half gross profit rose 57% to 11.791 billion rubles.
The firm attributed the results to higher pipe sales and prices as demand from oil and gas, construction and energy firms resumed.
http://en.rian.ru/russia/20101202/161584045.html
01:57 02/12/2010
The Russian government has banned foreigners from selling alcohol and drugs, as well as from working as salespeople at marketplaces and retail outlets outside of stores.
The resolution will be effective from January 1, 2011.
Russian residents have often complained that nationals of impoverished former Soviet republics arrive in the country in big numbers and take jobs depriving the Russians of a chance to earn money.
MOSCOW, December 2 (RIA Novosti)
Visas for Skilled Workers Simplified
http://www.themoscowtimes.com/news/article/visas-for-skilled-workers-simplified/425494.html
02 December 2010
By Howard Amos
Federal Migration Service Director Konstantin Romodanovsky said Wednesday that the number of highly qualified foreign specialists who have received documentation to work in Russia since the introduction of eased restrictions in July has reached 2,610.
Under legislation that took force on July 1, employers can apply for visas for highly qualified foreign specialists — defined as those who earn more than 2 million rubles ($63,500) per year — under a preferential work permit and work visa regime.
“We receive almost 50 applications for this type of migrant every day,” Romodanovsky said.
Romodanovsky said the types of firms using the new law varied widely, but singled out French companies and banking institutions as particularly active.
The 2 million ruble salary threshold only exists “for the time being,” Romodanovsky said.
He said his department is looking to differentiate further: both to widen the category of foreign specialists that the new law encompasses and increase the preferential nature of their immigration status.
“We are moving in a direction where we can widen the circle of possible participants — companies working in Russia — to attract intelligent, talented and willing people,” he said.
The Federal Migration Service’s role is to check that the applications meet the requirements. Romodanovsky encouraged employers to take advantage of the new system. “The rest is in your hands,” he said.
Russia has traditionally fared poorly in comparison with the visa regimes for skilled workers of other emerging markets, which companies frequently site as an obstacle to investment and expansion.
About 20,000 foreign specialists arrive annually, Romodanovsky said, but as part of the modernization drive, the migration service foresees a need for up to 46,000.
Romodanovsky also touched on discussions with the European Union concerning a mutual relaxation of visa conditions — an issue that has been repeatedly raised by President Dmitry Medvedev and, more recently, by Prime Minister Vladimir Putin on a visit to Germany last month.
“It is not a simple relationship,” Romodanovsky said, bemoaning the fact that while Russia was prepared for a “more intimate” interaction, little apart from reassurances were forthcoming from the EU. An announcement, however, of some positive steps forward could be expected before the end of the year, he said.
Uralkali, Polymetal Investor to Pay $1 Billion for Railcar Plant
http://www.businessweek.com/news/2010-12-02/uralkali-polymetal-investor-to-pay-1-billion-for-railcar-plant.html
December 02, 2010, 3:48 AM EST
By Ilya Khrennikov
Dec. 2 (Bloomberg) -- Russian billionaire Alexander Nesis, an investor in OAO Polymetal and OAO Uralkali, plans to spend $1 billion on a railcar-factory project to meet domestic demand for transporting raw materials from mines and smelters.
“We reckon upon a simple thing,” he said in an interview. “Russia has one of the largest railcar fleets in the world and the majority of these are old and need to be replaced soon.”
Nesis’s ICT Group will invest the money in the Tikhvin railcar factory that’s set to begin annual output of at least 10,000 vehicles from the second half of 2011. The plant in Tikhvin, in Leningrad region, northwest Russia, may sell shares through an initial public offering at some point, Nesis said.
Russia has about 1 million railcars in operation, according to Brunswick Rail Leasing, while private cargo carriers are building up their own fleets. State-owned vehicles have a lifespan of about 20 years, according to OAO Russian Railways.
The Tikhvin plant says it signed long-term contracts with Russian Railways subsidiaries and private operators including Transgarant. The factory will employ 3,500 people, about a quarter of the workers used in Russian facilities that have similar production volumes, Nesis said. The company built a new operation at the site of a Soviet-era producer of tractors using technology from Wabtec Corp. of the U.S.
“We decided to spend $200 million on building apartments in Tikhvin to attract workers from other regions,” Nesis said in Moscow. “We are offering them houses, mortgage loans and the work that allows them to repay these loans.”
--Editors: Tony Barrett
To contact the reporters on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net.
To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net.
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