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*Due Diligence, Business Intelligence, Asset Retrieval, Debt Recovery* TT Business Intelligence Report Vol. 2, No. 47, 29 May 2003 Business Intelligence, Crime, Corruption and Debt in C&E/SE Europe and the FSU UPCOMING CONFERENCES LVA'S "4th CIS BUSINESS SUMMIT AND 1st ECONOMIC FORUM OF KAZAKHSTAN" This event will take place on 25-27 June 2003 at the Churchill Intercontinental Hotel, London, United Kingdom. For further information, please contact Victoria Roberts, tel: +44 (0)20 8795 7619; fax: +44 (0)20 8795 2977; email: [email protected]; W: www.lva.co.uk EUROMONEY'S "SOUTH EAST EUROPE: THE 3rd REGIONAL FINANCE & INVESTMENT CONFERENCE" This event will take place on 21-22 October 2003 at the Hotel Croatia, Dubrovnik, Croatia. To register for your complementary delegate place, please contact Susie Teuton, tel: +44 (0)20 7779 8366; fax: +44 (0)20 7779 8835; email: [email protected]; W: www.euromoneyconferences.com BELARUS EDITOR FINED FOR DEFAMING PRESIDENT A district court in Minsk fined Pavel Kanavalchyk 1.4 million Belarusian rubles ($700) on 20 May for defaming Belarusian President Alyaksandr Lukashenka, Belapan reported. Kanavalchyk is editor in chief of the independent, satirical periodical "Navinki." The charge stems from a "Navinki" article illustrated with two 2001 campaign posters of Lukashenka with mocking captions, one suggesting that his suit was too expensive for his declared salary, and the other saying Lukashenka was wearing the suit of his opponent, ousted parliamentary speaker Syamyon Sharetski. Kanavalchyk said he will appeal the verdict. According to official data, the average monthly wage in Belarus is slightly more than $100. (RFE/RL 21.v.03) BOSNIA AND HERZEGOVINA R.S. DELEGATION VISITS SLOVENIA FOR TALKS ON ECONOMIC CO-OPERATION A Republika Srpska (RS) delegation led by RS PM Dragan Mikerevic visited Slovenia for talks on economic co-operation yesterday. During the visit Mikerevic called on the Slovene companies to invest in the Bosnian Serb entity and participate in the privatisation of strategic RS enterprises. Slovenia has invested EUR 175mn in BiH since the end of the war in BiH. In a separate development, a BiH delegation led by BiH PM Adnan Terzic departed on a four-day visit to Turkey yesterday. A bilateral agreement on cooperation in the social insurance sector is to be sealed during the visit. (IntelliNews 27.v.03) BULGARIA KOC HOLDING TO RAISE PRICE BID FOR STATE TELECOM B.T.C. Representatives of Koc Holding stated to the press that they would raise the price offer for the Bulgarian state telecom BTC but without specifying concrete figures. The privatisation agency, however, commented that it had not received any price offers from the Turkish consortium of Koc Holding and Turk Telekom and assumed that it could be a media campaign in response to similar statements from the rejected preferred buyer Viva Ventures. Local press sources, however, rumoured that the Turkish consortium could raise the bid from EUR 185mn for 65% of BTC to some EUR 245mn. Such a move in our view could be coupled with an offer by the Turkish bidder to the government to keep at least 50% of the net profit for last year within BTC. Such a proposal would have a twofold effect, as it would make the price offer look much better than the one of Viva Ventures and would solve the problems with the creditors of BTC insisting on the reinvestment of the profit. On the other hand, the swap of dividend allocation for a price increase would not have a very strong impact on the effective costs for the bidder. (IntelliNews 27.v.03) CROATIA CROATIA'S 5.2% RISE IN GDP COMPARES FAVOURABLY WITHIN REGION A 5.2% rise in Croatia's GDP in 2002 was more dynamic in comparison to the growth rate in the neighbourhood or in some other individual countries, if a degree of development and of GDP of those countries is taken into consideration. According to the European Union's statistical office EUROSTAT, last year's rise in GDP in the euro-zone was 0.8%, in the United States 2.4% and in Japan 0.4%. The most dynamic growth in Europe was realised in Greece with 4% and Spain with 2%. According to the bulletin called Economic Trends, issued by the Croatian Chamber of Commerce, it is more important to compare Croatia to other transition countries because of the level of their development. The Czech Republic registered 2% GDP growth in 2002, while Slovakia, Hungary and Slovenia had 4.4%, 3.3% and 3.1%, respectively. Higher growth rates than Croatia were registered in the Baltic countries with Latvia having the highest rate at 6.7%. (NewsBase 27.v.03) CZECH REPUBLIC GERMANY'S R.W.E. GAS PLACES BID FOR REMAINING 3.01% STAKE IN TRANSGAS Germany's RWE Gas said that it had submitted a bid for the remaining 3.01% stake in Transgas. RWE Gas board member Klaus Homann refused to provide further details. He said he knew nothing about the other bids, the deadline for the submission of which expired yesterday. The government launched the tender for the stake in April setting the reserve price at CZK 3bn. The price was said to be the only criterion, but the sought price is considered to be too high. RWE Gas acquired 96.99% in gas importer Transgas, and stakes in eight regional gas distributors, for CZK 125bn last year. The industry ministry at that time decided to retain the 3% stake and the right to call general meetings. (IntelliNews 28.v.03) F.N.M. TO APPROVE UNIPETROL PRIVATIZATION ADVISER A special commission has recommended to the National Property Fund (FNM) A consortium of McKinsey&Company, West LB and EEIP as the winner of a tender for a government investment consultant in the privatization of petrochemical holding Unipetrol. The commission chose the consortium from 13 applicants, but the final decision will be made by the FNM later this week. The state is to make a second attempt to sell off its 63% stake in Unipetrol. The holding controls 100% subsidiaries Chemopetrol, Kaucuk, Benzina, Paramo and Spolana, a 51% stake in Ceska Rafinerska and a 38% stake in Aliachem. (PBJ 28.v.03) ESTONIA ERICSSON AWARDED CONTRACT BY EESTI TELEFON Ericsson has been awarded a contract by Eesti Telefon to supply the Digital Subscriber Line network for the national Estonian operator, the company announced in a press release. The order is the first announced commercial contract in Europe for Ericsson's Ethernet DSL Access solution that features the world's smallest DSL Access Multiplexer DSLAM. Ericsson is to provide Eesti Telefon with Asymmetric DSL lines across rural areas in Estonia. Ethernet-based, high-speed internet services will now be available for homes and businesses in rural areas that otherwise would have been too costly to reach. The network will eventually take over all the voice traffic in rural Estonia. The network is expected to handle voice calls, using Telephony-over-IP technology, by the end of 2003. The ADSL lines will be delivered using Ericsson's new ultra-compact, scalable Ethernet DSL Access solution, a cornerstone of Ericsson's Public Ethernet offering. The solution enables standard ADSL lines to be offered economically at smaller sites, starting from eight subscribers, and uses Ethernet technology to provide cost-effective high-bandwidth links in the 'second mile' network. Estonia is experiencing a strong demand for ADSL. In a country with a population of 1.5 million, Eesti Telefon currently has 32,500 DSL lines and expects to have 15,000 new broadband subscribers by the end of 2003. In Estonia, 4.1% of all lines are DSL. (NewsBase 23.v.03) HUNGARY BUDAPEST BANK INTERESTED IN POSTABANK'S PRIVATISATION The Internet news portal portfolio.hu confirmed earlier information that Budapest Bank (BB) is interested in Postabank's privatisation. BB targets to become the second largest bank on the Hungarian retail banking market through the acquisition. The acquisition has strategic importance for BB, because currently, BB is too small for cost-efficient operations, while its organic growth opportunities are limited because of the strong competition, according to BB CEO Richard Pelly. If BB is able to obtain Postabank, the number of BB's clients would rise to 800,000 and the bank would become the second largest bank on the Hungarian retail banking market with a SME banking market share of 16% and a household deposit market share of 12%. Based on total assets, BB-Postabank would become the forth largest bank in Hungary. BB also plans to participate in the privatisation tender for Konzumbank later this year. (IntelliNews 27.v.03) ITALY'S UNICREDITO SEEKS TO EXPAND INTO HUNGARY UniCredito Italiano SpA, Italy's second-largest lender, is seeking to expand into Hungary and Russia in a bid to increase the contributions to profit made by its Eastern European businesses. UniCredito will decide in the next two weeks whether to buy a bank in Hungary, said Roberto Nicastro, head of UniCredito's New Europe Banking division. The bank expects the region's economies to grow faster than those of the 12 countries that share the euro. About 12% of UniCredito's profit currently comes from Eastern Europe following seven acquisitions and one joint venture in the region since 1999. The bank wants to boost this to 25% by 2008, Nicastro said. (BBJ 26.v.03) KAZAKHSTAN MOODY'S ASSIGNS Baa3 RATING FOR TURANALEM FINANCE B.V. Moody's has assigned a Baa3 rating to senior unsecured bond issue of TuranAlem Finance B.V., the subsidiary of BankTuranAlem, Moody's informed. The outlook is Stable. The bonds are denominated in US dollar and fully guaranteed by BankTuranAlem. The rating assigned corresponds to the sovereign rating of Kazakhstan and reflects the important role of BankTuranAlem for the domestic banking system. BankTuranAlem is one of the largest and fastest growing domestic banks. The rating also reflects the high probability of the state support to the bank in the case of distress. Still, Moody's points at the fact that the rating is constrained by the complex operating environment in Kazakhstan. The bank is relatively small, has a potentially volatile funding base and a certain concentration of liabilities, Moody's explained. It should be mentioned that BankTuranAlem Chairman Tatishev recently disclosed that the 7-year bonds worth USD 225mn have been already placed, without disclosing other details. (IntelliNews 28.v.03) POLAND PRESIDENTIAL ADVISER: POLAND'S EUROZONE ACCESSION IN 2008 AT EARLIEST According to presidential economic adviser Witold Orlowski, Poland will not join the euro-zone earlier than in 2008. Meanwhile, the central bank and the Finance Ministry want Poland to join the Economic Monetary Union (EMU) as soon as possible, i.e. in 2007. According to most analysts, however, this plan is too ambitious and Poland's accession would not be possible until 2008. Orlowski, one of the most respected economists in Poland, used to work as adviser to former Finance Minister Leszek Balcerowicz (1998-2000) and to Poland's chief EU negotiator (1998-2001). His name is also mentioned among the candidates for Monetary Policy Council (RPP) members that are to replace the current officials, whose mandate expires early next year. (IntelliNews 28.v.03) PFIZER AIMS FOR POLE POSITION ON PHARMACEUTICALS MARKET Pharmaceuticals concern Pfizer has expressed hopes of becoming the leader on the domestic drugs market. According to Pfizer Polska head Cees J. Heiman, following the takeover of Pharmacia Corp in April this year, Pfizer was the fifth largest pharmaceuticals producer in Poland with a market share of 4%, "We are the biggest pharmaceuticals producer in the world and we want to take the same position in Poland too," he said. Prior to the takeover, Pfizer held 12th place in Poland. Last year, Pfizer Polska's revenues rose by 58% to zl. 224.4 million, while Pharmacia reached zl. 100 million in revenues giving it 31st place in the ranking. The 'new' company's revenues are expected to grow by 15%-20% in 2003. (WBJ 28.v.03) ROMANIA A.P.A.P.S. EXPECTS PRIVATISATION REVENUES OF OVER $121m IN 2003 The Romanian Authority for Privatization (APAPS), expects that privatization would yield this year over Leu 4000 bn (some $121m), according to Ovidiu Musetescu, Minister for the APAPS. Musetescu specified that the companies Polirom Roman, Siderca Calarasi and Sidermet Calan would enter liquidation soon, and the companies Verachim Giurgiu, Oltplast Dragasani, Chimcomplex Borzesti, Tepro Iasi, Carom Onesti and Rulmentul Slatina would be closed down if they are not privatised until the end of June. The Government has also decided to cease asking the foreign investors to observe clauses on preserving the number of employees, and the price criterion will account for 50% in the evaluation of the final offers. (NewsBase 27.v.03) RUSSIA YUKOS, C.N.P.C. STRIKE A $150Bln DEAL Yukos clinched a $150 billion deal with Chinese state-owned oil company CNPC on Wednesday to ship 700 million tons of crude to China over the next 25 years. The agreement signals the next step toward the construction of a 2,400-kilometer pipeline from the east Siberian city of Angarsk to Daqing in northern China. The construction of the $2.5 billion pipeline -- which is expected to be finished in 2005 -- will be jointly overseen by Russian state-owned pipeline monopoly Transneft and CNPC, or China National Petroleum Corp. The pipeline will carry 20 million tons of crude annually through 2010 and 30 million tons per year after that. The contract was reached a day after President Vladimir Putin and visiting Chinese President Hu Jintao signed a declaration to increase cooperation between their two countries in a number of areas, including energy. The declaration named the Angarsk-Daqing pipeline as a cornerstone for future joint energy projects. "This is the biggest deal signed between China and Russia in recent years," CNPC president Ma Fucai told reporters at the signing ceremony. Yukos chief executive Mikhail Khodorkovsky said Russia will receive $60 billion in taxes and other revenues during the project's 25-year lifespan. "When it is fully operational, the pipeline will provide about 10 percent of China's demand for oil," Khodorkovsky said. He said the construction of the new export route should kick-start exploration for more oil reserves in eastern Siberia. "If we work well and discover new fields, we will be able to extend the pipeline further to the east," Khodorkovsky said, referring to the Far East port of Nakhodka. (The Moscow Times 29.v.03) PROSECUTORS RAID BEREZOVSKY'S LIBERAL RUSSIA OFFICES Prosecutors raided the offices of the pro-Boris Berezovsky faction of the Liberal Russia party on Tuesday, but it was unclear what they were searching for. Viktor Pokhmelkin, a Liberal Russia co-chairman and critic of Berezovsky, said the raid was part of an investigation into the faction's determination to remain affiliated with Liberal Russia. He said the probe was opened after he filed a complaint with the prosecutor's office. "At our request, the Prosecutor General's Office is conducting this investigation, and I warmly welcome the prosecutors' actions," Pokhmelkin said on Ekho Moskvy radio. An unidentified source in the Prosecutor General's Office said, however, that the raid was linked to an investigation into the murder of Liberal Russia co-chairman Sergei Yushenkov, Interfax reported. Yushenkov, an outspoken critic of Berezovsky, was gunned down April 17. The source told Interfax that the offices are owned by LogoVAZ, the car dealership created by Berezovsky. Reached by telephone, officials at the prosecutor's office confirmed the raid at the offices at 3/5 Armyansky Pereulok but refused further comment. Berezovsky, who is in self-imposed exile in London, criticized the raid as politically motivated and accused Pokhmelkin of being a pawn of the Kremlin. "The authorities ... are destroying the party from within and acting through law enforcers from the outside," he told Ekho Moskvy. (The Moscow Times 28.v.03) WEST QURNA STILL NO-GO FOR LUKOIL The U.S.-appointed acting oil minister for Iraq, Thamir Ghadhban, has quashed any small hope LUKoil might have had of beginning work soon at the West Qurna field, reminding the world that the company had already lost its contract to develop the massive oil field. Under the terms of LUKoil's contract, the company was to begin work on the field as soon as the UN sanctions regime against Iraq was lifted. But even though the United Nations Security Council voted to end sanctions last week, Iraq's acting oil minister stood firm behind a decision taken at the end of last year by Saddam Hussein's government to cancel the deal. In an interview with the BBC on Monday, Ghadhban said the U.S.-appointed Iraqi administration has canceled or suspended three oil contracts with Russian and Chinese firms that had been signed under Hussein's regime. He said LUKoil had already lost its contract, while a Chinese deal to develop the al-Ahdab field was suspended by mutual agreement. He did not give any details on the third deal. All remaining contracts are to be re-evaluated and new deals announced soon, he said. "We will examine each one on its legal, economic merits." LUKoil spokesman Dmitry Dolgov said the company continues to consider its West Qurna contract valid. "We will hold negotiations on the contract when there is a sovereign, internationally recognized government in place in Baghdad," he said. "But if we are stopped we will take our case to the Geneva arbitration court." LUKoil has said it would sue any new contender for the field for at least $20 billion and ask international courts to arrest tankers with Iraqi crude oil. Two other Russian oil firms, Zarubezhneft and Mashinoimport, had smaller holdings in the project that were not annulled. The vice president of Mashinoimport, Nikolai Dorofeyev, said his company had not been informed of any changes to its contract. He did say, however, that up to $700 million in deals Mashinoimport had to supply equipment under the UN oil-for-food program were still in limbo without funding, even though the Security Council voted last week to keep the program going for another six months. (The Moscow Times 28.v.03) PUTIN APPOINTS NEW MEMBERS OF STATE COUNCIL PRESIDIUM President Putin issued a directive on 26 May rotating the membership of the State Council Presidium, Interfax reported. Seven regional leaders, one from each of Russia's federal districts, serve on the presidium for six-months terms. The new appointees are Murmansk Oblast Governor Yurii Yevdokimov, Sverdlovsk Oblast Governor Eduard Rossel, Belgorod Oblast Governor Yevgenii Savchenko, Perm Oblast Governor Yurii Trutnev, Kemerovo Oblast Governor Aman Tuleev, Stavropol Krai Governor Aleksandr Chernogorov, and Sakha (Yakutia) Republic President Vyacheslav Shtyrov. "Kommersant-Daily" noted on 27 May that Rossel's appointment will quiet rumors that the Kremlin does not want him to be elected to a third term later this year. The newspaper also pointed out that Nizhnii Novgorod Oblast Governor Gennadii Khodyrev was again passed over, leaving Nizhnii Novgorod as the only region containing the administrative center of a federal district whose leader has never served on the State Council Presidium. (RFE/RL 27.v.03) MOSCOW NARODNY BANK TO ISSUE EUROBONDS WORTH $150-200mn IN SUMMER London-based Moscow Narodny Bank plans to issue 3-5 year eurobonds worth USD 150-200mn and to attract a syndicated loan worth USD 100mn in summer 2003, said the bank's CEO Suvorov. The decision to issue eurobonds in July-August was made after Fitch assigned an investment grade BBB- to MNB earlier in May. MNB is holding negotiations on receiving the 3 year loan from a group of German banks, and hopes to finalize the talks in June. According to Suvorov, the IFC will consider providing a USD 100mn loan to MNB on May 29. The size of the loan may be increased 2-fold, and the funds might be used by the IFC to buy a stake in MNB in the next 2-3 years. Overall, MNB plans to borrow USD 500mn in 2003 for financing Russian exporters. (IntelliNews 27.v.03) RTS RISES AMID CORRECTION RUMORS The Russian Trading System (RTS) stock exchange spent the week of 19-23 May in record territory after surging past the 450 mark on 16 May for the first time since 1997. Leaders for the week were Unified Energy Systems, which climbed 31.46 percent to close at $0.234; ordinary shares of the Kostroma State District Electric Power Station, which rose 28.68 percent to close at $0.0875; and ordinary shares of Bashkirenergo, which rose 26.84 percent to close at $0.241. With the bull market in full swing, analysts' thoughts turned to the chances of an impending correction. "Vedomosti" wrote on 22 May, "There's no panic in the air, but virtually all analysts are talking about an inevitable correction." Andrei Bespalov, an analyst at Metropol Investment and Finance Company, told "Kommersant" on 20 May that the RTS could reach 500 in June, but he expects a correction by fall. But Aleksandr Baranov, vice president of the Russian Funds investment group, told "Gazeta" on 19 May that investors are readying their portfolios for an expected pre-election rally in the fall. Even so, Baranov allowed that the market might "sag" in the summer before picking up again. (RFE/RL 27.v.03) EXPERTS WARN OF OLIGARCHS' 'COUP' The heads of Russia's leading financial-industrial groups have set their sights on a more direct connection with political power, according to a report by the Council for National Strategy, a group of 21 leading analysts, that was posted on utro.ru on 26 May. They are seeking to trim back the prerogatives of the Russian president and create a parliamentary republic. They hope to prevail in the December State Duma elections and then to create a "government of the majority" headed by one of the oligarchs, the report asserts. Since 1991, the oligarchs have seen the strong presidency as a guarantor of the results of privatization and of their privileged status. Although there has been a generational shift within the oligarchy under President Putin, the essence of its power remains the same. However, the report notes, no oligarch has been able to become a national political figure and the current institution of the presidency makes it impossible for them to do so. The oligarchs' desire to maintain the status quo has brought them into conflict with the institution of the presidency. Among those who are listed in the report as the country's leading oligarchs are Sibneft owner and Chukotka Autonomous Okrug Governor Roman Abramovich, Alfa-Group head Mikhail Fridman, Yukos CEO Mikhail Khodorkovskii, and Interros head Vladimir Potanin. (RFE/RL 27.v.03) FSB ARRESTS GERMAN CITIZEN ON SUSPICION OF TERRORISM The Federal Security Service (FSB) has arrested a German citizen identified as Uwe Krueger on suspicion of plotting a terrorist act, Russian media reported on 22 May. Kruger was arrested in Tatarstan after allegedly attempting to purchase 20 kilograms of explosives. According to officials, Kruger told police that he wanted the explosives in order to blow up his own house in Germany to collect on his insurance. The FSB, however, noted that he attempted to purchase enough explosives to destroy several houses and is investigating in cooperation with German security agencies the possibility that Kruger belongs to a terrorist organization. (RFE/RL 23.v.03) SERBIA AND MONTENEGRO 28 MURDER CASES RESOLVED AS RESULT OF DJINDJIC ASSASSINATION INVESTIGATION Serbian police have resolved 28 murder cases as part of the investigation into the assassination of Prime Minister Zoran Djindjic, said Serbian Minister of Interior Dusan Mihajlovic, adding that 23 war crime suspects are being held in custody. During the 42 day state of emergency in the country, the police questioned 10,111 people and detained 2,599 individuals, said Mihajlovic, adding that 4,000 criminal charges were filed against 3,500 persons suspected of committing around 5,900 criminal acts. Mihajlovic said that the fight against organised crime will continue, adding that the police must also discover the money and property of members of organised crime groups, and tackle corruption and financial crime. According to Serbian Deputy Minister of Justice Dusan Protic, a trial for the murder of Serbia's public security deputy head General Bosko Buha is likely to start by the end of June. (NewsBase 27.v.03) HYPO ALPE-ADRIA BANK (AUT) PLANS TO INVEST E50m IN 2003 Austria's Hypo Alpe-Adria Bank said it plans to invest at least 50m euros in Serbia-Montenegro's economy this year to support the country's agriculture, food production, housing construction, pharmaceutical, construction, and building materials industries. The bank said it aims to invest in Serbia's infrastructure and development projects and finance fixed assets and operating capital through long-term loans with repayment period of up to 10 years and up to one year grace period. Also, the bank will provide consumer, housing, and mortgage loans and offer leasing and consulting services. Hypo Alpe-Adria acquired a 98.99% stake in Depozitno-Kreditna Banka from Belgrade last September. The bank has invested around 20m euros in Serbia so far. (NewsBase 27.v.03) SLOVAKIA RULING COALITION LEADERS APPROVES SINGLE 19% RATE FOR VAT, INCOME TAXES The ruling coalition partners approved a modified version of the tax reform plan of the finance ministry, envisaging the unification of VAT and income tax rates at a level of 19%. The changes, if approved by the cabinet and Parliament, should take effect as of January 2004. The initial proposal of the finance ministry envisaged a single rate of 20%. The coalition members also agreed to hike excise taxes on fuels, cigarettes and low-alcohol drinks as of July this year. At present, the corporate income tax stands at 25%, while natural persons pay between 10% to 38%. The current VAT taxation system has two rates, of 14% and 20%. As a result of the larger-than-planned tax cut, the government should raise its general budget deficit estimate for 2004 from 3.2% of GDP to 3.9%. Finance minister Miklos added that in order to meet the deficit target of up to 3% of GDP in 2006, the government should introduce more radical fiscal consolidation measures in 2005. Local analysts quoted by news reports broadly welcomed the decision on the flat 19% rate but some commented that a rate of 15-16% would have been the optimal one. Miklos said the tax amendments should not have a significant impact on inflation but only a temporary one. The coalition partners will meet again in two weeks to discuss the pension reform. (IntelliNews 28.v.03) UKRAINE CRIMINAL INVESTIGATION INTO UKRTELEKOM The Prosecutor-General's Office has opened a criminal investigation against top managers of Ukrtelekom, Interfax-Ukraine news agency reported. The prosecutors suspect them of abuse of office resulting in a failure to transfer to the state budget $84.2m raised from the sale of a stake in the UMC cellular communications operator to MTS (Rus). The chairman of the State Property Fund, Mykhaylo Chechetov, suggested that Ukrtelekom has failed to timely find a loophole to minimise taxation. The fund ordered Ukrtelekom to transfer to the budget all the $87.6m raised from the stake sale. Chechetov said that this money should arrive in June. (NewsBase 28.v.03) UKRTRANSNAFTA SUGGESTS SHIPPING HIGH-GRAVITY SIBERIAN OIL VIA ODESA-BRODY OIL PIPELINE Ukrtransnafta is suggesting shipping high-gravity Siberian oil through the Odesa-Brody oil pipeline, according to Ukrtransnafta's CEO Oleksandr Todiychuk. In relation to the signing of the joint declaration among Ukraine, Poland and the EU on the project, Todiychuk announced that PricewaterhouseCoopers was entitled to start work with the companies transporting high-gravity Siberian oil through Tuapse. The Ukrainian official stressed he believed that Russian companies would also benefit from the project by supplying their crude to European oil refineries. Besides, this could enable the realisation of traffic via the Bosporus Strait, according to Todiychuk. He underlined that additional options for use of the Odesa-Brody pipeline are needed in order to balance large-scale players' interests on the market. (IntelliNews 28.v.03) INFORMATION PROVIDERS - For further information on our InformationProviders, please contact: NEWSBASE NewsBase is a leading provider of business and economic news and intelligence from Russia, Central Europe and the FSU. Daily bulletins and industry specific weekly reports backed by an archive containing over 10 million words combine to provide a comprehensive service to a global blue chip client base. Contact: Jon Laurijssen T: +44 (0)131 478 8537 F: +44 (0)131 478 7001 E: [email protected] W: www.newsbase.com, www.newsbaseworldmonitoring.com NEW WORLD PUBLISHING New World Publishing is a primary source of business-related information for Central Europe, through its publications the Prague, Budapest and Warsaw Business Journals. Contact: Mark Child T: +420 2 4608 6524 F: +420 2 4608 6501 E: [email protected] W: www.ceebiz.com, www.pbj.cz, www.wbj.pl, www.bbj.hu THE MOSCOW TIMES The Moscow Times offers readers an independent and precise view of the political, economic and business life of Russia. Contact: Andrew Boag T: +7 095 232 3200 F: +7 095 232 1761 E: [email protected] W: www.themoscowtimes.com INTERNET SECURITIES, INC. (IntelliNews articles) Internet Securities, established in 1994, is the pioneering provider of electronically delivered emerging markets business information. Contact: Ludek Macha T: +420 2 2421 9055 F: +420 2 2421 9060 E: [email protected] W: www.securities.com RADIO FREE EUROPE / RADIO LIBERTY Radio Free Europe/Radio Liberty is a private, international communications service to Central, Eastern and Southeastern Europe; the Caucasus; and Central and Southwestern Asia funded by the U.S. Congress through the Broadcasting Board of Governors. Contact: Peter Baumgartner T: +420 (0)2 2112 2039 F: +420 (0)2 2112 2012 E: [email protected] W: www.rferl.org TRANSITIONS ONLINE (TOL) TOL is a nonprofit Internet magazine and media development organization that produces timely, original news and analysis, covering all 28 countries in the post-communist region through its network of local journalists and editors. Contact: Eugen Babau-Iladi T: +420 (0)2 2278 0805 F: +420 (0)2 2278 0804 E: [email protected] W: www.tol.cz TEMPLETON THORP T +44 (0)20 7520 9380 F +44 (0)20 7504 8180 E [email protected] W www.templetonthorp.com |
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