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Russian companies' profits dropping fast

November 20 2008 at 6:31 PM
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Geez a one dimensional economy based on natural resources only...but the propagandized Armenian shere just love Russia, but of course, don't live there.

http://www.themoscowtimes.com/article/600/42/372525.htm


Vladimir Filonov / MT
Strzhalkovsky talking Thursday at a conference, where he said Norilsk would cut investment by $600 billion next year.
Norilsk Profit May Fall 75% in 2009
21 November 2008
By Nadia Popova / Staff Writer
Norilsk Nickel's profit may fall by as much as 75 percent in 2009 as demand has fallen in the midst of the financial crisis, the firm's chief executive Vladimir Strzhalkovsky said Thursday.

Norilsk, the world's biggest nickel and palladium producer, plans to maintain its current level of production but will only invest $1.3 billion in 2009, about $600 million less than this year, and will close its unprofitable plants abroad, Strzhalkovsky said at a news conference

 
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