Russia Calls Sochi Ready For Winter Olympics

Data revenue surged 33 percent to account for 100.7 billion rubles of that amount. in Moscow. MegaFon, the No. 2, dropped 0.7 percent to $36.75 in London. VTB declined 1.1 percent to $2.70. Kovalchuks Partners The Tele2 Russia purchase marks an expansion into a new area for Kovalchuk, who owns CTC Media (CTCM) in Russia with Tele2 AB founder Cristina Stenbeck and her family. He is the main shareholder of St. Petersburg-based Bank Rossiya, which owns stakes in National Media Group and insurance company Sogaz and has an indirect interest in Gazprombank. Kovalchuk, 62, had a fortune valued at $1.1 billion by Forbes Russia magazine this year. He has known Putin since the early 1990s, and both are from St. Petersburg . Mordashov, a billionaire owner of Russian steelmaker OAO Severstal, is Kovalchuks partner in the bank and in National Media Group. Rostelecom Chief Executive Officer Sergey Kalugin, appointed in March, had previously worked for Kovalchuks companies. Gazprombank holds a 7.2 percent stake in Rostelecom, according to the Prime newswire. Rostelecom plans to rely on partners to develop mobile business, spokeswoman Kira Kiryukhina said Oct.

The president of the Russian Federation is personally monitoring the project. He cheerfully fired off a long list of Sochis accomplishments , beginning with new power and water supplies for the whole region, 225 miles of roads, 25,000 additional hotel rooms. City Hall, on Soviet Street, was itself marooned within a construction zone, with a big fountain being dug in front and new walkways laid all around. We had nothing, the mayor said. We constructed everything from scratch. These Olympics, costing an estimated $51 billion, are the most expensive ever . The London 2012 Summer Games were estimated at near $19 billion and Beijings 2008 Winter Olympics at about $43 billion. Activists complain the environment has paid the price. Construction waste has been dumped on hillsides, said Vladimir Kimayev, a leader of Environmental Watch in Sochi, increasing the threat of landslides and sending pollutants into the Mzymta River. And a promenade along the Black Sea was built too close to the water, he said, asserting the beach was now vulnerable to erosion and the promenade might well be washed away. That, said Mayor Pakhomov, was impossible. The project was approved by state experts, he said. If there were violations it wouldnt have been approved. In 2008, after extensive disputes with Russian Olympic authorities, environmental groups had managed to persuade Putin, who was prime minister at the time, to move the bobsled track and mountain Olympic village to a less damaging location.

Russia’s Avtovaz may poach CEO of truckmaker rival

Andersson, of Swedish origin, has been credited with turning around Gaz, with a cost-cutting drive which increased profits. Gaz is part of tycoon Oleg Deripaska’s Basic Element group. z Several sources close to Avtovaz said on Wednesday that Komarov was leaving to join a division of Russia’s space agency, confirming an earlier story in Kommersant newspaper. Komarov declined comment. Oleg Lobanov, the company’s vice-president for finance, will be acting CEO until the board of directors appoints a new head, Avtovaz said on Wednesday. A source close to one of Avtovaz’s shareholders said on Wednesday that the new CEO would likely be a representative of the Renault-Nissan alliance. Avtovaz this month reported that it swung to a first-half net loss as a slowdown in Russia’s $2 trillion economy took a heavy toll on demand. Russian car sales have fallen for six months in a row. The Association of European Businesses (AEB) lobby group recently cut its sales forecast for the full year to 2.8 million vehicles, a fall of 5 percent year-on-year. @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes. Search for share prices Terms Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page .