Russian Economic Developments - №7

Please find enclosed the recent survey "Russian Economic Developments" №7, 2014 prepared by experts of Gaidar Institute for Economic Policy.

Russian_Economic_Developments_eng.7_2014.pdf

Liv Monica Stubholt and Thomas G. Michelet

NRCC Annual Meeting and Summer Event 2014  

NRCC Annual Meeting 2014 was held on the 3rd of June. The NRCC Board Meeting, the NRCC Council Meeting and General Assembly took place at Selmer Law Firm facilities, Tjuvholmen, Oslo. Thomas G. Michelet from Selmer Law Firm has left his position as Chairman of the Board. We would like to thank him for the impressive work he has carried out as  Chairman since 2003. Liv Monica Stubholt, partner in the law firm Hjort, representing Kværner, was elected as a new Chair of the NRCC Board of Directors.

Meeting was followed by the Annual Summer Event. This year NRCC organized a fjord cruise on the majestic sailing ship S/V Legend. About 100 guests gathered to enjoy an  evening with tasty food, conversations and networking in an informal atmosphere. We would like to thank all the participants in the Annual Meeting and Summer Event. 

Russian Economic Developments - №6

Please find enclosed the recent survey "Russian Economic Developments" №6, 2014 prepared by experts of Gaidar Institute for Economic Policy.

Please download following the link "Russian Economic Developments".

Russian Economic Developments - №5 - 2014

Please find enclosed the recent survey "Russian Economic Developments" №5, 2014 prepared by experts of Gaidar Institute for Economic Policy.

Please download following the link "Russian Economic Developments".

Joint Venture Between CIC, Russia State-Backed Firm Plans $800M Tourism Fund

A joint venture between the Russian Direct Investment Fund, or RDIF, and China Investment Corporation, or CIC, plans to raise an $800 million fund to invest in infrastructure for senior living centers and to tap rising Sino-Russia tourism, a top executive at the Russian state-backed fund said Monday.

The move is the latest in a series of partnerships and funds developed by RDIF, a $10 billion sovereign wealth fund set up in 2011 to attract strategic investors who have steered clear of Russia due to concerns over rampant graft and the rule of law.

RDIF will hold a stake in the fund through Russia-China Investment Fund, or RCIF, a private equity firm established with China's sovereign wealth fund CIC in 2012, RDIF chief executive Kirill Dmitriev said in an interview.

"We will hold a controlling stake, but will raise the rest of the fund from international partners," Dmitriev said ahead of Tuesday's signing ceremony in Shanghai for a series of Sino-Russian deals.

Networking Meeting in Oslo - 13 May

Please find enclosed pictures from the informative NRCC Networking Meeting organized at the premises of the Norwegian Shipowners Association. Richard Nygaard Scarborough, International Adviser, Norwegian Shipowners Association, discussed major opportunities for Norwegian Shipowners in Russia and the Arctic region. Jan Erik Smith, Senior Analyst, DNB Bank, presented his analysis of the impact that Ukranian crisis can have on the Russain banking system. Jørn Tverseth, Project Manager, NRCC, presented results achieved after 1. year of operation of Young Entrepreneurship Program. 

After the meeting the guests enjoyed cocktail reception and continued networking.