Russia gets a slice of GM Opel operations in Europe

RIA Novosti reported that Germany and Magna International, backed by Russia's Sberbank and GAZ reached a deal early Saturday that will see the consortium take over car maker Opel, part of US car giant GM.

Magna, Canada's largest auto component maker will acquire a 20% stake in Opel with

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Russian Ukrainian gas dispute to be considered at EU summit

Itar-Tass quoted Mr Jose Manuel Barroso who heads the European Commission said the problem of Russo-Ukrainian discord over Russian gas deliveries will be raised at the June 18th to 19th summit of 27 countries of the European Union.

Mr Ferran Tarradellas Espuny who officially represents the

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Russia may help Ukraine with gas loan in case of European support

Itar-Tass citing Mr Igor Sechin Deputy Prime Minister of Russia as saying that, Russia may assist the issue of a gas loan to Ukraine in case of European support.

He referred to Prime Minister Mr Vladimir Putin proposal made to European Commission President Jose Manuel Barroso, the Czech

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Mechel to buy Oriel Resources - Report

YIEH reported that Russian Mechel Steel has reached an agreement with international banks that the loan repayment of USD 1.5 billion will be prolonging for two months in order to purchase Oriel Resources Plc.

Mr Dmitry Smolin metals analyst at UralSib bank said "Mechel has a very high

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Downsizing deals - ArcelorMittal Temirtau in deal with workers

Reuters reported that ArcelorMittal Temirtau has reached a deal with its workers to avoid layoffs or shutdowns by introducing 3 month pay cuts for employees instead.

It said in a statement it has introduced limits on bonuses and other payments, reducing the total payroll by 14% following a

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