Word: gazpromneft
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Dates: during 2004-2004
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...ownership of Gazprom, Russia's natural gas monopoly, were heartened last week when President Vladimir Putin gave Gazprom the go-ahead to acquire Rosneft, the government's last major oil company. The move ups the state's 38% stake in Gazprom to a controlling one in the newly formed Gazpromneft, and paves the way for foreign investors' billions to flow into Russia. But Putin apparently announced his plan before his ministers had agreed on its details: Industry and Energy Minister Viktor Khristenko cooled expectations, saying that liberalization "doesn't mean the removal of limits." Shortly afterward, Economic Development and Trade...
...Minister. Putin's move dramatically strengthens the state's hold on the energy sector. Finance Minister Alexei Kudrin said that the assets of embattled oil major Yukos would soon be sold off in a transparent, legal way; Gazpromneft seems likely to take the spoils. Luxury Goody Two-Shoes N o loafing here: Gucci has agreed to become the first luxury fashion house to abide by a stringent voluntary labor code, the company confirmed last week to TIME. The leather and apparel firm, a division of France 's Pinault-Printemps-Redoute, pledged earlier this month that Gucci headquarters outside Florence...
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