Russia's Business SENSE by yourDragonXi Δ 4th of January 2014

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~ Moscow Brims With Billionaires ~ Japan's Operations in St. Petersburg ~ Gazprom, Rosneft to Divide Russia’s Shelf	~ Yamaha to Russia ~ Basic Element ~ sense for Ξ	~ sense for Ξ ~ sense for Ξ ~ sense for Ξ
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«Business Sensing	ξ	ξ
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~ Moscow Brims With Billionaires

»Moscow Brims With Billionaires
ξ Moscow now has 74 billionaires
ξ with average wealth of $5.9 billion,
ξ placing it above New York /Forbes Magazine/
ξ New York has 71 billionaires,
ξ London 36,
ξ Istanbul 34,
ξ Hong Kong with 30
ξ Russia is second only to the United States in the number of its super-rich.
ξ An additional 35 Russians have crossed the $1 billion mark in the past year,
ξ helped along by the continued rise of the ruble against the dollar.
ξ "Sixteen years after the collapse of the Soviet Union, Russia, with 87 billionaires,
ξ is the new No. 2 country behind the U.S., easily overtaking Germany, with 59 billionaires
ξ The Unites States accounts for 469 (42%) of the world's billionaires
ξ Topping the list of Russia's billionaires is Oleg Deripaska with $28 billion,
ξ placing him ninth in the world, ahead of the more famous Roman Abramovich with $23.5 billion, in 15th place.
ξ Deripaska's holding company, Basic Element,
ξ owns huge assets in insurance, auto manufacture, and aluminum, while
ξ Abramovich, since selling his oil company Sibneft to Russian state-controlled gas giant Gazprom in 2005,
ξ has bought up steel and mining assets. He also owns Chelsea Football Club.
ξ Russia's richest woman remains Elena Baturina,
ξ the 45-year-old second wife of Moscow Mayor Yuri Luzhkov.
ξ Forbes estimates that she has added $1.1 billion to her personal wealth in the past year,
ξ bringing it up to $4.2 billion and putting her in 253rd place globally.
ξ Baturina founded Inteko in 1991, which became Moscow's largest construction firm in the years after her husband became mayor.
ξ The world's richest man this year is U.S. investor and philanthropist Warren Buffet,
ξ ousting his friend Bill Gates from the top spot, which the Microsoft founder had held for 13 years.
ξ Buffet's wealth has shot up to $62 billion with the stock growth of his holding Berkshire Hathaway,
ξ while Gates is now worth $58 billion, putting him in third place. In second place is Mexican telecom tycoon Carlos Slim with an estimated $60 billion.

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~ St. Petersburg
ξ Japanese Foreign Minister Masahiko Komura and St. Petersburg Mayor Valentina Matviyenko
ξ agreed to cooperate to promote the setting up of operations by Japanese companies in Russia's second largest city
ξ Komura visited a Toyota Motor Corp. plant on the outskirts of St. Petersburg which began operating in December,2007

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~ Gazprom, Rosneft to Divide Russia’s Shelf

»Gazprom, Rosneft to Divide Russia’s Shelf
ξ The RF government has finally decided on division of oil and gas resources of the continental shelf.
ξ The shelf will be developed by the state-controlled Gazprom and Rosneft
ξ they will split the resources on profile basis with Gazprom getting the better part of the wealth.
ξ The shelve resources are preliminary estimated at nearly 100 billion tons of oil and gas
ξ equivalent and the experts say the gas accounts for 75 percent of those tons
ξ The Federation Council approved amendments to the Act on Foreign Investments
ξ in Companies of Strategic Importance for the State Defense and Security
ξ passing the package of documents has actually shaped a new concept for exploiting the continental shelf of Russia,
ξ which areas are deemed the subsoil of federal significance, said Russia’s Natural Resources Minister Yuri Trutnev
ξ under the amendments, only Russia’s entities may work in the shelf
ξ provided they have at least five-year experience amassed in the country and the state owns more than 50 percent in them
ξ “In essence, the concept has been already adopted, the law reflects it
ξ It spells out that the shelf will be developed by companies controlled by the government
ξ they are clearly Gazprom and Rosneft,” Trutnev explained
ξ except these two giants, the government owns one more oil and gas company,
ξ Zarubezhneft; it has a five-year experience (the venture with Vietnam’s PetroVietnam) but outside Russia
ξ the laws don’t extend to the Caspian shelf that is currently developed by LUKOIL, as the status of this sea,
ξ same as the Sea of Azov, is governed by the international laws
ξ But the regulations cover all other areas of Russia’s continental shelf.
ξ According to the Natural Resources Ministry there are around 450 sections there, including more than 100 ready for drilling.
ξ The aggregate resources are estimated at 98.7 billion tons of oil equivalent.

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~ Yamaha to Russia

Yamaha sets up Russian subsidiary
ξ celebrated the launch of wholly owned subsidiary Yamaha Music Russia in Moscow, with an eye to expanding its business gradually.
ξ sees a promising business opportunity for its electronic keyboards in Russia, where relatively small apartments are common.

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~ Basic Element

»Basic Element

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