Russia, Belarus Hold Joint War Games

The U.S. government stands poised for its first partial shutdown in 17 years at midnight tonight, after a weekend with no signs of negotiations or compromise from either the House or Senate to avert it. Crude retreated 1.3 percent to $101.51 in New York . The Russian market is sensitive to the conflict inside the U.S., Aleksei Belkin, who helps manage about $4.4 billion in assets as chief investment officer at Kapital Asset Management LLC in Moscow, said by phone. Although were seeing a small drop after a rally, Russian stocks have potential to rise next quarter. Even after this months rally, Russian equities have the cheapest valuations among 21 emerging economies tracked by Bloomberg. The Micex (INDEXCF) Indexs 12-month estimated price-to-earnings ratio was at 4.3 today, compared with a multiple of 10.4 for the MSCI Emerging Markets Index. TNK-BP Buyout OAO RN Holding jumped 5.9 percent to 63.75 rubles, extending the 12 percent gain on Sept. 27. The board of directors of owner OAO Rosneft approved the buyout of minority shareholders at 67 rubles an ordinary share and 55 rubles a preferred share. Rosneft took over TNK-BP, which was renamed RN Holding this year, after a decade-long partnership between BP Plc and a group of billionaires soured, becoming the worlds biggest publicly traded oil producer by volume. Minority shareholders who accept the offer will receive just half of the price for their shares that the oligarchs and the big foreign major got for theirs, Sberbank CIB analysts said in an e-mailed note today. OAO Alrosa, the worlds biggest diamond producer by output, rose 1.9 percent to 37.49 rubles. Alrosa is set to sell a 14 percent stake in the Russian capital next month, two people with direct knowledge of the matter people said earlier this month, asking not to be identified because the information isnt public.

Russia – The Future of HNWIs to 2016: The Land of Oil and Gas

Sent! A link has been sent to your friend’s email address. Join the Nation’s Conversation To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Russia, Belarus hold joint war games AP 1:21 p.m. EDT September 26, 2013 Story Highlights Massive joint military exercise involved more than 22,000 troops Russia and Belarus are allies and have close ties Thursday’s joint exercise was their biggest so far SHARE 1 CONNECT 17 TWEET COMMENTEMAILMORE MINSK, Belarus (AP) Russia’s President Vladimir Putin and his Belarusian counterpart have watched a massive joint military exercise of the two ex-Soviet neighbors that involved more than 22,000 troops. The West 2013 exercise conducted Thursday near the city of Grodno in western Belarus and in Russia’s westernmost Kaliningrad region also involved more than 500 armored vehicles and about 90 aircraft along with ships of Russia’s Black Sea Fleet. Russia and Belarus are allies and have close economic, political and military ties. Russia has several military facilities in Belarus, and the two nations operate a joint air defense system. The two armies have regularly conducted joint maneuvers, Thursday’s exercise being the biggest so far. Belarusian President Alexander Lukashenko attended the exercise along with his nine-year old son, who donned full combat fatigues. Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. USA NOW

Compiled and curated by a team of expert research specialists, the Database comprises up to one hundred data-points on over 100,000 HNWIs from around the world. It also includes profiles on major private banks, wealth managers and family offices in each country. With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover. Comprehensive forecasts to 2016. Detailed information on UHNWIs in each major city. Key Highlights As of 2011, there are just over 159,500 HNWIs in Russia, with a combined wealth of US$941 billion. The total number of HNWIs in Russia decreased by 18.1% during the review period (20072011), while HNWI wealth declined by 25%. WealthInsight research shows that over 35% of Russian HNWI wealth was held offshore at the end of 2011. The current wealth management leaders in Russia are UBS and Credit Suisse with local AuM of US$15 billion and US$10 billion respectively. Other prominent foreign players include Pictet and Goldman Sachs. The leading locally based private banks are UFG Invest, Troika Dialog and Third Rome. Moscow is home to the largest portion of Russia’s UHNWIs (64% or 821 UHNWIs). There are also sizable Russian UHNWI populations in St Petersburg (99 UHNWIs), Yekaterinburg (38 UHNWIs), Novosibirsk (31 UHNWIs), Kazan (29 UHNWIs) and Kemerovo (27 UHNWIs).