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Today in Russian Business – April 5, 2010

A new Kremlin ruling will limit companies to issuing no more than 25% of their equity abroad could ‘push companies to re-register offshore in an attempt to escape both Moscow and the restrictions‘.  Los Angeles-based International Film Finance Associates will visit Moscow this week to convince bankers and private investors to help it raise $50 million to complete a package of six Hollywood projects whose funding has dried up during the economic crisis.  Carmaker AvtoVAZ has reached an agreement to restructure $957 million of debt with Sberbank and VTB.  Despite last week’s news that China had bought an estimated $2.25 billion worth of anti-aircraft missiles from Russia, the arms trade relationship is in trouble, says this source, because ‘Russia refuses to sell China its most advanced weapons‘.  Meanwhile, Rosboronexport has signed two further arms contracts, worth $1.2 billion, with Algeria and Uganda.  On the bidding wars sparked by Chatroulette, the ‘wild west‘ of the internet.  JPMorgan Chase & Co says Russian equities are mispriced relative to Russian bonds more than in any emerging market.