Sunday, August 25, 2019
Diamond sales are slowing in the wake of global macroeconomic uncertainty, leading Russia’s top diamond producer Alrosa to curb its 2019 diamond sales forecast from 38 million carats to 32-33 million, Vedomosti reports.  Alrosa’s diamond sales dropped by 22% in the second quarter of 2019 compared to the first quarter,...
The growth of Russia’s industrial output slowed down to 2.8% year-on-year from 3.3% seen in June, showing a seasonally-adjusted month-on-month decline of 0.4%, bneIntellinews reported. In January-July overall industry expanded by 2.6% year-on-year, official statistics showed. In July output in the resource industry was up 3% y/y (2.3% in June),...
Changan, the third-largest automobile maker in China, has abandoned car production at a plant in Lipetsk Region, Izvestia writes citing sources. According to them, the company’s move might have been influenced by the recent litigation troubles of another Chinese car manufacturer in Russia, Great Wall Motors. At the same time, experts...
Russian precious metals miner Polyus reported 50% growth in second-quarter adjusted net profit to $365 million, GuruFocus.com reported.  The company’s share climbed 1.23% to 6,929.00 rubles ($106.07) on Tuesday after the announcement. Higher refined gold sales volumes and prices led revenue to increase 19% to $897 million, the report said. The...
Russia's Rusal, the world’s second-largest aluminum producer, expects that global demand for aluminum will grow by 2% to 67.5 million tons this year, the company said in its report released at the Hong Kong Stock Exchange on Friday. "We expect global demand for primary aluminum to grow by 2% year-on-year...
Russian mining and steel company Evraz has reached an agreement to sell its wholly-owned subsidiary Evraz Stratcor Inc., based in Arkansas, to a third party in July 2019, TASS reported citing the company’s 1H financial report released on Thursday. "The group expects that the sale of this subsidiary will not...
Russian air carriers will need about 300 aircraft with a seating capacity of 30 to 110 passengers and nearly 500 planes that would seat less than 30 passengers within the next 20 years, Russia’s state tech corporation Rostec told Izvestia. "Although regional aviation is not the largest segment in Russia...
Survey data from IHS Markit showed last week that Russia’s manufacturing sector contracted at a slower pace in July, mainly on further declines in output and new orders.  The Purchasing Managers’ Index, or PMI, for the manufacturing sector rose to 49.3 in July from 48.6 in June. Any reading below...
China’s Great Wall Motors (GWM) became the first automobile producer from the country that has signed a special investment contract (SPIC) with the government of Russia, Vedomosti reported. A special commission composed of several Russian governmental agencies, institution and funds approved on July 31 a resolution to facilitate GWM's operation in the...
Starting August 1, AvtoVAZ is raising prices for the entire Lada model range by almost 1%, TASS informed. “Yes, it is true. The adjustment is not related to suppliers. Prices are increased by exactly 0.9%,” AvtoVAZ said. Avtomir, which is one of the largest dealers of the automobile plant, also reported...