Russian and World NewsMichael Zurabov has doubled rates
last week head of the Pension fund of Russia (PFR) Michael Zurabov has signed contracts of trust management with 54 management companies which can invest pension accumulation of citizens. All of them can apply almost on 100 mlrd roubles “ long “ pension money.
Signing of contracts with PFR means high-grade start of pension reform: now citizens can choose any of 54 management companies and transfer it means of pension accumulation. 55 companies - applicants for management of them were left by one company - “ finam Management “. By the time of signing of contracts it has not co-ordinated the investment declaration with the Ministry of Finance.
to the management companies which have passed selection, is for what to be overcome. As it was found out, Michael Zurabov is ready to share not only 38 mlrd roubles of the pension accumulation which have arrived in 2002, but also 50 mlrd which PFR accumulated this year. Thus, potential volumes of the pension market at least double. However these means, most likely, will flow in the largest corporations and banks. After all to send the statement for a company choice in PFR, the citizen needs to assure it either at the notary, or at the organisation with which at PFR the agreement on the mutual certificate of signatures is entered into. While among them only the largest banks. “ soon the largest employers will be connected to system “ - head PFR assures. According to participants of the market, it will turn back that pension statements will be made out in favour of the management companies connected with banks and the largest enterprises as the organisations, authorised to accept the statement of citizens, are connected with concrete emitters.
the YELLOW CARD
Banks have not time to introduce the chip
last week council of Association of the Russian banks - members MasterCard (ARCHE) transition on chipovye has decided to ask payment system to delay technologies. The similar request in MasterCard was already sent by Italy and Spain.
On council ARCHE which has passed last week, rates of transition of the Russian banks on chipovye technologies have been recognised by insufficient - and it threatens with serious problems. The matter is that since January, 1st, 2005 by rules MasterCard of card Maestro besides a magnetic strip should be supplied by the chip of standard EMV. Thus all points of reception of cards are necessary for converting under parallel reception of cards with a magnetic strip and the chip. In case of default of these requirements responsibility for roguish operations will lay down on the bank which has not provided transition on chipovye of technology. Thus, in case of points at issue on roguish operations the Russian banks will appear in obviously proigryshnom position in relation to the western banks. As a result council ARCHE has decided to address to MasterCard with the request to transfer migration on the chip for a year. As has declared “ to Money “ the chairman of the council of association, the director of management of bank cards of the Savings Bank Andrey Sobolev, “ we yet do not know, in what form this reference will be made, but I think that on the nearest board of directors MasterCard on our region this question will be lifted “. With similar references to payment system Italy and Spain which has faced similar problems have already addressed.
the JUDICIAL BRIGADE
Shell has defended salymskie licences
last week the Ministry of natural resources of the Russian Federation (MPR) and britano - the Dutch company Royal Dutch/ Shell - participants of the conflict round licences for deposits of Salymsky group - have agreed about an armistice. Thus, the probability of licence withdrawal from the company has strongly decreased. And all because it used an administrative resource.
According to the declared arrangements between Shell and MPR, the ministry should stop licence withdrawal attempts on three Salymsky deposits at company Salym Petroleum Development (SPD, 50 % of its actions belong Shell, other half - to structures Sibir Energy, under control to the Moscow businessman Shalve Chigirinsky) for activity of their joint working group which should solve all problems. SPD, from its part, last week has withdrawn the claim from the Moscow arbitration court, challenging actions of officials.
protecting licences, Shell used not only court, but also an administrative resource. Visited Moscow in the beginning of September the chairman of committee of operating directors of the company Phillip Uots has told about a problem to Vladimir Putin then for Shell the minister of economic development of the Russian Federation Herman Gref has publicly stood up. Besides, the company tried to fascinate the Russian authorities the budget of working out of Salyma: in it it decided to enclose more than $1 billion
the CALL CUP
Total Black sea
past week the French company Total was pleasant declared agreement undertaking with NK “ Rosneft “ on development of the Tuapse deflection - a site on a shelf of Black sea. One and a half years ago Total has entered into the similar agreement with NK YUKOS - on the next shelf site which the Shaft Shatsky is called.
According to agreement Total and “ Rosneft “ the companies on an equal footing will create Open Company “ Tuapseneftegaz “ which will be engaged in investigation of the Tuapse deflection. The licence for this site of a shelf of Black sea has been received by the area of 12 thousand in sq. km “ Rosneft “ in August. The volume of investments into the project does not reveal. According to representatives “ Rosneft “ the arrangement with Total about joint venture creation under this project has been reached even before licence reception. In “ Rosneft “ consider that the message of the French company is dated for visit to Russia the prime minister - the minister of France Jean - Pierre Raffarin.
It already the second Black Sea project Total - last year the company has created the joint venture with YUKOS for studying of the Shaft of the Shatsky site of a shelf next to the Tuapse deflection. It is remarkable that at YUKOS with “ Rosneft “ rather intense relations: the companies struggle for shares in the project of working out of the Vankorsky oil deposit (Krasnoyarsk region) into which wants to enter and Total. Now the deposit supervises “ Rosneft “ and Total carries on with it active negotiations. It is not excluded that Total has come to a conclusion that there is more than benefit to it will bring cooperation not with disgraced YUKOS, and with supervised by the state “ Rosneft “.
ON THE HOME FIELD
“ Norilsk nickel “ has removed Norimet from a counter
Management GMK “ Norilsk nickel “ has decided to reform sale structure. Since 2004 the present exclusive distributor of the company in the foreign markets British Norimet Ltd. Will cease to trade in platinum, a palladium and copper. Its functions will be divided between three recently founded branches “ Nornikelja “: Norilsk Nickel Europe Ltd., Norilsk Nickel Asia Ltd. And Norilsk Nickel USA Ltd.
Each of these companies will trade in production “ Norilsk nickel “ on the main commodity markets of production of the company: in Europe, Asia (China) and America (USA). The specialised company registered in Zurich (its name in GMK do not inform) will be engaged in the general questions of logistics of export deliveries. Besides, “ Norilsk nickel “ since 2004 will sell platinum and a palladium through the joint venture based with “ Almazjuvelireksportom “. In a press - to company service have declared that sale reform is spent for it “ Optimisation on separate regions and attraction of new clients “. As the assistant to general director GMK Victor Sprogis, after reorganisation " has declared; secondary brand Norimet “ it will be replaced with a brand “ Norilsk nickel “. As he said, this procedure will pass without damage to trade, “ as Norimet had no any long independent history “.
Norimet (it is created in 1997 and in 1999 - m is bought “ Nornikelem “. - “ Money “ ), de - fakto owning 56 % of actions Stillwater Mining Co., since 2004 becomes the structure operating foreign actives “ Nornikelja “. It is already offered to its traders to sign labour contracts with the new marketing companies. In “ Norilsk nickel “ do not exclude that practice of purchase of foreign actives can be continued and for them the specialised management company is required. According to Victor Sprogisa, the company shows interest to a number of foreign actives. In August of this year in the market possible acquisition GMK of British company Lonmin, however this information yet was discussed has not received acknowledgement.
we will remind that in 2002 a gain “ Nornikelja “ from sales has made $3,1 mlrd whereas in 2001 it has reached $4,37 billion
GAME ON DEPARTURE
“ Vimm - the Bill - Dann “ have again sold
last week The Financial Times newspaper referring to not named source has informed that controlling interest sale “ Vimm - the Bill - Danna “ (VBD) French Danone can already take place in the end of this month. Both companies do not inform on achievement of any arrangements. Nevertheless, according to the majority of the analysts, the largest transaction for the Russian grocery market (cost of all company is estimated in $900 million) really not far off.
According to The Financial Times, the Russian shareholders of Open Society “ Vimm - the Bill - Dann. Foodstuff “ (Gabriel Jushvaev, Sergey Plastinin, Michael Dubinin, David Jakobashvili and others), supervising in the sum more than 55 % of actions, already by the end of month will definitively agree about sale of the packages to the French dairy giant Danone. As a result the French company to which already now posesses 7,2 % of actions of Open Society, will receive complete control over “ Vimm - the Bill - Given “. By newspaper estimations, Danone only dairy manufacture interests. Sokovye actives VBD, most likely, will be resold PepsiCo, Coca - Cola or Nestle.
It any more the first this sort of message. The first time the western mass-media have extended the information on fast sale “ Vimm - the Bill - Danna “ in the spring of last year. Nevertheless experts consider that this time The Financial Times forecast is true. According to an analyst of Alpha bank of Alexander Svinova, “ the transaction can really come to the end till the end of this month - all depends on the price which will offer Danone “. Meanwhile Danone after publication occurrence in the newspaper can pay essentially more. Right after messages on the possible transaction price ADS “ Vimm - the Bill - Danna “ on Nju - Jorksky stock exchange (in the form of the American receipts 28,2 % of actions of Open Society there are quoted) has jumped up on 8 %.
From the MIDFIELD
the Registrar was re-registered on vegetables
last week the founder of the registrar largest in Russia - the companies of the River of the Island With. T. - Maxim Protasov declared leaving from registratorskogo business. He has sold the package in the company and has decided to be engaged in manufacture of foodstuff.
the Company of the River of the Island With. T it was formed in 2001 as a result of merge of registrars “ the Panorama “ and “ the Share registration company “ (FRK). The first is known for the aggressive behaviour in the market, lobbist possibilities - its basic owner and was Maxim Protasov. FRK conducted the register of shareholders “ Sibneft “ and other structures supervised by Roman Abramovich.
last week Maxim Protasov - the owner about 40 % of the River of the Island With. T - has declared sale of the package (it has estimated it in $8 million) and leaving from registratorskogo business. “ for ten years I have constructed the company and now I leave, - he has declared. - now this market develops very slowly, business with the big prospects " is interesting to me;. By data “ Money “ Protasov is the co-owner of canning holding “ pomidoprom “ also intend to concentrate on its development. The buyer of a share in the River of the Island With. T it is not disclosed yet, among them name and MillHouse (the company operating actives of Abramovich), and the structures close to YUKOS.
participants of the market have rather ambiguously commented on Maxim Protasov`s leaving. So, the chairman of board of directors of the National registration company Michael Alekseev has declared “ to Money “: “ I regret for its leaving as I consider as its bright expert who has shown impressing result “. And here head of the registrar “ Irkol “ Vladislav Moskalchuk named the River of the Island With. T “ a colossus on clay feet “ having noticed that if Protasov “ considers that has achieved all in registratorskom business it is better to it more for what not to undertake “.