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THE DAILY TELEGRAPH THURSDAY_OCTOBER 25_2007
Investment Central Bank chief Alexei Ulyukayev explains why Global Russia
the Russian market is especially attractive to overseas investors
calendar
Find more events and contact details at
Western eyes
www.rbth.rg.ru/global calendar
7th Semi-Annual Russian-American
Innovation Technology Week
November 12-19, Mid-Atlantic states, USA
The event is designed to bring together entre-
preneurs, venture capitalists, and established
should turn to
corporations from American and Russian
technology communities. It will focus on informa-
tion technology, alternative energy technology,
nanotechnology, chemical engineering, security
technologies, technology in education, venture
capital, and entrepreneurship.
www.russiaprofile.org
rouble promise
Moscow Business Dialogue 2007
November 13, Moscow, Russia
This one-day international conference will look
at where Russia is heading; the global reach of
Russian business; Russia’s business environ-
ment.
www.russiaprofile.org
RBTH 39th Annual Convention of the American
Association for the Advancement of Slavic
Studies
November 15-18, New Orleans, Louisiana,
Unlike the wild Nineties, today ing in Russia by consistently 1991 Political analyst, Mos- While the system was not the republics is actually US
Russia has enough local upgrading the country’s Banker’s dossier kovskiye Novosti newspaper. called upon in previous greater than the volume of The association represents American scholar-
capital to support stable sovereign rating. 1991-1992 Economic adviser years, it sprung into action Russian trade overall. ship in the post-Soviet/East Central European
economic growth. But the Ulyukayev does not pretend Alexei Ulyukayev was born in to the Russian government. during the September cred- Moreover, since 2006 large field nationally and internationally. One of the
rewards for foreign investors the Russian economic story Moscow on March 23, 1956. 1992-1993 Chief adviser to it crunch. Indeed, many international financial core activities of the AAASS is the annual national
remain substantial. is without unwelcome He graduated from the eco- the Prime Minister. bankers continue to ap- structures – such as world- convention. This national forum makes possible a
twists. He identifies a nomics department 1993-1994 Aide to deputy proach the regulator with a wide payment systems – broad exchange of information and ideas, stimu-
OLEG GLADUNOV
number of administrative of Moscow State University prime minister. view to refinancing low- have also begun to settle ac- lating further work and sustaining the intellectual
ROSSIYSKAYA GAZETA barriers to investment, and in 1979 and 1982. He also 1994-1996 Deputy director, risk loans. counts in roubles. Issuers vitality of the field.
MOSCOW
there remains the problem holds the title of “Doctor of Institute for the Economy in The clear implication is that from different countries can www.russiaprofile.org
of corruption. Economics” from Univesit Transition. the Russian economy will now freely release rouble-
Low risk and high opportu- Business in Russia is cer- Pierre-Mend s France, Greno- 1996-1998 Member of Mos- continue to enjoy ample denominated British, Amer- The 6th International Russian Food &
nity is how investors should tainly not straightforward. ble 2. cow City Assembly funds available for invest- ican or other securities, and Beverage Forum
view the Russian economy, Nonetheless, Ulyukayev re- Fluent in English and French. 1998-2000 Deputy director, ment purposes, even if its make settlements in rouble November 12-15, Marriott Grand Hotel,
says Alexei Ulyukayev, dep- mains convinced that po- Married, one son. Institute for the Economy in banks find themselves un- equivalents. Moscow, Russia
uty head of the Russian Cen- tential investors should re- 1982-1988 Assistant profes- Transition. able to take out loans on for- Many leading investment Russian Food & Beverage Forum is one of the
tral Bank. In his view, there turn to the two conditions of sor, Moscow Institute of Con- 2000-2004 Deputy finance eign markets. banks have also made it clear industry’s highly-esteemed events. Building on
are two main reasons for ap- clear revenue growth and struction Engineering. minister of Russian Federa- The year ahead also promis- they would like to use rouble the outstanding success of the forum in 2006,
proaching Russia with opti- low risk. 1988-1991 Consultant, sec- tion. es to be dominated by dis- accounts, while a number of which attracted more than 350 key figures from
mism. Amid the worldwide eco- tion editor for Kommunist Since 2004 Deputy head, Rus- cussions concerning the con- central banks the world over the food, beverage and retail sectors, this year’s
First is the medium-term nomic instability in August, magazine. sian Central Bank. vertibility of the rouble. seem set to obtain rouble in- four-day agenda has been designed to offer the
economic forecast, which Russia experienced the first According to Ulyukayev, struments. According to Ul- top speakers, the most in-depth information, and
promises sustained econom- net outflow for many months there are two ways the rou- yukayev, there are many in- the premium networking opportunities to ensure
ic growth. From this follows with some $6bn (approxi- foreign investment to erating companies will float ble can become a freely con- dicators to say many already that your finger is right on the pulse of industry
a high demand for financial mately £2.9bn) leaving the around $50-$55bn. as part of the reform of Rus- vertible currency in the near have them. developments.
services and high returns for country. The drop should be On the other hand, the struc- sian electricity monopoly future. So it is a valid question to www.adamsmithconferences.com
investors. ture of this investment is set UES. Given the attention One is the natural evolution ask whether Russia really
Even in economies growing to improve. Any reduction the energy sector enjoys of being used as a reserve needs official recognition Moscow 2007: Supreme Luxury
by 1-2pc annually, investors While many portfolio will probably focus on cred- worldwide, one can predict currency for a number of from the IMF. November 28-29, The Ritz-Carlton,
could earn up to 10-12pc on
investors fled the
it and international loan a high level of interest. Russia’s trading partners; On this point, Ulyukayev is Moscow, Russia
moderately risky ventures.
country in August,
bonds; and while many According to Ulyukayev, another is the more official in no doubt that such a The International Herald Tribune’s annual luxury
In the case of higher eco-
the majority have
portfolio investors also fled Russia also finds itself in an process of being granted change would be useful, but event – the world’s foremost conference for the
nomic growth as predicted, the country in August, the almost unique position to convertibility status by the in no way crucial to future luxury industry – will take place in Moscow on
15pc is a real probability already returned majority have already re- protect itself from global fi- International Monetary development. The emphasis November 2007 28-29. Moscow 2007: Supreme
from even guaranteed low- turned. In just a few recent nancial uncertainty. Fund (IMF). for now is on gradually in- Luxury will be attended by business leaders and
risk projects. weeks, stock indices have On the one hand, the coun- Certainly, progress in the creasing the zone of rouble key decision-makers from across the luxury, style
Second is Russia’s impres- viewed against the perspec- bounced to new records of try is now able to use its gold first instance is clear. In circulation. In order to do and associated business sectors.
sive economic fundamen- tive of net foreign invest- more than 2,100 points. and foreign currency re- practice, the rouble today this, the Central Bank of www.eventica.co.uk/events
tals. In contrast to the insta- ment, which over the period The perspective for foreign serves to maintain the sta- operates as all but a reserve Russia intends to encourage
bility of the 1990s, the coun- January to August stood at direct investment, there- bility of its financial sys- currency in most former So- leading exporters to Europe, 14th International Russian Banking Forum
try can now count on huge $59bn. fore, remains positive. A tem. viet republics. Indeed, it is China, Japan and the United December 3-6, Marriott Hotel Grosvenor
international reserves, con- Indeed, the outflow was great deal of this activity is On the other, the Central used increasingly for trans- States to begin making set- Square, London
tinued budget surpluses and some $5bn less than predict- set to focus on forthcoming Bank has been instrumental actions that do not involve tlements in roubles.
-
The Forum highlights include: one day securitisa-
low government debt. Inter- ed by the finance ministries. restructuring and moderni- in developing a new mecha- Russia at all. tion forum, key focus on sources of funding, anal-
national credit agencies Nonetheless, Ulyukayev sation projects. nism of 24-hour loans, com- According to Central Bank ysis of the IPOs in the banking sector, review of in-
have also recognised the does predict a moderate de- Sometime before the end of ing with the possibility of an statistics, the volume of such More on the topic in the ePaper dustry consolidation and mergers & acquisitions,
much reduced risk of invest- crease in the annual level of this year, seven power-gen- extension of up to one year. rouble transactions between www.rbth.rg.ru spotlight on private banking, training course on
risk management focus on CIS banking.
www.adamsmithconferences.com
Global Investment and Finance Forum
Training Diplomacy, business practice, law and languages are all on the innovative agenda
December 10-11,The Ritz-Carlton,
Moscow, Russia
Young students are full of energy in an
The Forum will take a long view on the world
economy, to allow participants to identify future
prospects and prepare for future risks. The
unprecedented teaching programme
conference will also feature a special focus on
Moscow’s viability as an international financial
centre. If the Russian economy is to make real
progress in attracting outside investment, its
capital city must lead the way. Is Moscow ready?
It’s a European first… in the signed to train specialists in ness law, global economy, fi- ica, Asia-Pacific, the Middle ternational corporations, politicians and experts, and www.eventica.co.uk/events
southwest suburbs of energy diplomacy. The cen- nance and credit, interna- Eastern and CIS energy is- and at state-controlled in- undergo onsite training at
Moscow is the Institute for tre’s focus on energy securi- tional management and pub- sues. Russian authorities ternational agencies and de- foreign companies,” said 4th Annual Russian Winter Festival
Energy Policy and Diplomacy ty, alternative fuels, techno- lic relations. closely monitor the work of partments. Valery Salygin, director of January, Trafalgar Square, London, UK
(MIEP), and for its students, logical progress and envi- As part of the programme, the institute. A supervisory MIEP is working to promote the institute. The Russian Winter Festival has now become
it could be the passport to a ronmental protection is students can also attend one council chaired by Foreign co-operation with leading Salygin sees a bright future an important annual fixture for the London public.
dazzling and lucrative nothing if not timely, coin- of the 53 foreign language Minister Sergei Lavrov has foreign universities and for the institute and its grad- Each year it has attracted record crowds, who
international career. ciding with the area’s elevat- courses at the institute’s lan- been set up, consisting of the training centres. It also col- uates, noting that success in are treated to an extremely diverse look at Rus-
ed importance in worldwide guage centre. The centre also heads of 10 Russian regions laborates with the personnel major international energy sian culture, from modern pop stars and indie
ALEXANDER SAMOZHNEV
economic, political and dip- offers training in energy di- with highly developed ener- departments of major oil, projects, such as the North rock, to folk groups, street theatre and military
ROSSIYSKAYA GAZETA lomatic discussion. plomacy and international gy sectors and the leaders of gas and energy companies. European gas pipeline, marching bands.
MOSCOW
There are more than 500 un- oil and gas businesses. 30 major Russian oil, gas and “International links give our Shtokman gas condensate www.eventica.co.uk/events
dergraduate, postgraduate Demand for the graduates is energy companies. students invaluable oppor- project, and development of
Established in 2000, the In- and doctorate students from high, with government agen- The council has also been in- tunities to take part in inter- Caspian and East Siberian
ternational Institute for En- 36 Russian regions and 19 cies and leading multina- strumental in establishing national master’s pro- deposits, depends directly
ergy Policy and Diplomacy countries. The specialist tionals turning to it for ex- unrivalled recruitment net- grammes, hear lectures by on the educational stand-
is a unique undertaking de- areas are international busi- pertise in the Europe, Amer- works over Russian and in- famous European scientists, ards of personnel.
-
Did we leave out any
important events?
Facts and fi gures: Energy production for the
fi rst eight months of the year
editor.uk@rg.ru
RIA NOVOSTI/RBTH
Russia’s Ministry of Energy amount exported in January- Coal
and Industry and Federal August 2006) to non-CIS and Russia produced 199.86m
Customs Service reported the Baltic countries (including from metric tons of coal in the re-
production of primary fuel and oil refineries terminals) and porting period, or 0.3pc more
energy resources at 1,183.4m 24.54m metric tons (99pc) to than in the first eight months of
metric tons of conventional fuel the CIS. Deliveries to Belarus 2006.
from January to August, 1.3pc went down 1.5m metric tons It exported 57.27m metric tons
up on the same period last and to Ukraine, 0.1m metric of coal to non-CIS countries
year. tons, while supplies to Kazakh- (up 9.3pc) and 7.38m metric
The production of oil in this stan increased by 1.3m metric tons (up 27.3pc) to countries
period increased by 2.6pc and tons. in the CIS.
the production of coal by
0.3pc. Electricity generation at Gas Electricity
hydropower plants went up The production of gas amount- Electricity production rose by
10pc and at nuclear power ed to 429.11bn cubic metres 0.9pc, to 653.58bn KWh,
plants, 2.6pc. Gas production (bcm), or 99.1pc of the figure including 421.9bn KWh gen-
decreased by 0.9pc. for the same period last year. erated at thermal power
Gazprom produced 362.17 plants (98.1pc), 126.88bn
Oil bcm; its share in overall gas KWh generated at hydropow-
The production of oil and gas production went up from er plants (110pc), and
condensate totalled 326.62m 83.9pc to 84.4pc. 104.5bn KWh generated at
metric tons, the vast majority of Gas exports to countries out- nuclear power plants
it provided by Rosneft, LUKoil, side the CIS and to the Baltics (102.6pc).
TNK-BP, Surgutneftegaz and reached 93.36 bcm, or 86pc
Gazprom Neft. year-on-year, and exports to SOURCE: THE INDUSTRY AND ENERGY
Russia exported 146.04m met- the CIS totalled 25.88 bcm MINISTRY AND THE FEDERAL CUSTOMS
ric tons of oil (102.6pc of the (92.7pc). SERVICE OF RUSSIA
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