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MOSCOW Credit Suisse is to move its Moscow investment banking advisory operation to London as part of a cost-cutting drive, a source familiar with the matter said, as a dearth of deals pushes foreign bankers away from the Russian capital. The news on Wednesday marks a significant, but not complete retreat from a market which Credit Suisse entered in the chaos that followed the break-up of the Soviet Union and did not abandon despite the hit it took in Russia’s 1998 financial crash. The Zurich-based bank will also move its Moscow-based debt and equity capital markets business to London, venue [...]

MOSCOW Credit Suisse will close its Moscow investment banking operation as part of a cost-cutting drive, a source familiar with the matter said, as a dearth of deals pushes foreign bankers away from the Russian capital. The news on Wednesday marks a significant, but not complete, retreat from a market that Credit Suisse entered in the chaos that followed the breakup of the Soviet Union, and did not abandon despite the hit it took in Russia’s 1998 financial crash. The Zurich-based bank will move its debt and equity capital markets, and corporate advisory businesses to London, venue of major recent [...]

The U.S. Commerce Department on Friday said it had reached a draft agreement with the Russian government to revise a 13-year-old deal governing imports of hot-rolled steel. The pact raises the minimum price for Russian hot-rolled steel can be sold in the United States. The department launched the negotiations with Russia after U.S. steel company Nucor Corp. complained the 1999 agreement was out of date. Nucor and other interested parties will have a chance to comment on the deal before it is final. Those remarks are due to the Commerce Department by Nov 23. (Reporting By Doug Palmer)

Russia is considering opening its arctic waters to western oil companies.Russia is considering allowing western companies to own oil licences in its Arctic watersWould make the world’s second largest crude producer more attractive to foreign investors(Financial Times) — Russia is considering allowing western companies to own oil licences in its Arctic waters, a bold concession that would make the world’s second largest crude producer much more attractive to foreign investors.Alexander Novak, energy minister, told the Financial Times that the proposal would allow foreign majors not only to operate offshore projects but “have access to production” and become “co-owners of the [...]

Hillary Clinton and Sergei Lavrov exchange documents after signing a memorandum of understanding on Antarctica.NEW: Clinton discusses Syria, Iran and missile defense with Russia’s Vladimir PutinCongress may vote on lifting a Cold War-era trade amendment this month, Clinton saysThe Jackson-Vanik amendment was passed in 1974 as a way to pressure RussiaClinton is in Vladivostok for the APEC Economic Leaders’ MeetingVladivostok, Russia — U.S. Secretary of State Hillary Clinton signaled Saturday that Congress could move to repeal Cold War-era legislation governing trade relations with Russia as soon as this month.Clinton’s comments regarding the so-called Jackson-Vanik amendment came as she addressed business [...]

The Ferrari Enzo that Russian billionaire Suleiman Kerimov crashed in Nice, November 2006. The accident almost killed him and prompted an informal review of lending conditions at Barclays. Kerimov, on January 16, 2012, watching his Dagestani team, Anzhi Makhachkala, play against Iraq at Al Nasr Stadium in Dubai. Russian TV host Tina Kandelaki at the Bulgari Hotel February 26, 2007 in Milan. Kandelaki was pulled out of the wreckage with Kerimov. Barclays’ former boss Bob Diamond lost his job as a result of the Libor rate fixing scandal, which cost the bank $ 453 million in fines. People walk past [...]