23 Russians among world’s 500 most powerful people - report

23 Russians among world’s 500 most powerful people - report Get short URL Published time: May 05, 2013 21:21 Edited time: May 05, 2013 22:24 President Vladimir Putin and Prime Minister Dmitry Medvedev.(RIA Novosti / Dmitry Astakhov) 23 Russian citizens have made it into the Foreign Policy magazine’s list of the world’s 500 most powerful people. Dominated by leaders in politics and business, there’s also one military official and one mafia boss in the rankings. The so-called Power Map was compiled on the basis of other influential ratings by such issues as Forbes, Times, Vanity Fair, Wall Street Journal, Global Finance and others. “Think of it as a list of all the most important other lists,” the magazine explained. The list of 500 most influential people in the world, which has been put together by the Foreign Policy for the first time, will be published by in its May/June magazine’s “Power Issue”. According to the magazine, it brings together the individuals, “who control the commanding heights of the industries that run the world, from politics to high finance, media to energy, warfare to religion.” The listing has recognized the global influence of Russian President Vladimir Putin, Prime Minister Dmitry Medvedev, Foreign Minister Sergey Lavrov and several other high-ranked officials across the financial and security spheres. The appearance of Moscow mayor, Sergey Sobyanin, in the selection came as somewhat of a surprise to many, but the head of the capital’s administration, who replaced Yury Luzhkov, took the same position in 2010, is seen as an important member of Putin’s team. Moscow Mayor Sergei Sobyanin.(RIA Novosti / Denis Grishkin) Russia’s business elite also has a strong showing on the Power Map as it includes the likes of Gazprom CEO Aleksey Miller, Rosneft President Igor Sechin and the heads of other big companies dealing in natural resources energy and telecom. Rosneft President Igor Sechin.(RIA Novosti / Sergey Guneev) The co-owner of the biggest online company in Russia, Mail.ru Group, Yury Milner, who is an investor in an investor in Facebook, Twitter and other global Internet brands, also made it to the list. Milner’s partner at Mail.ru and Russia's richest man, Alisher Usmanov, whose fortune is estimated at US$18.1 billion, predictably reserved a spot on the list. Head of 'Metalloinvest' Alisher Usmanov.(RIA Novosti / Vladimir Fedorenko) Unexpectedly, the magazine’s Top-500 also includes Semyon Mogilevich, who also represents Russia on the FBI’s list of Ten Most Wanted Fugitives and is considered to be the “boss of bosses” of the Russian mafia by the US and European law enforcement officers. Mogilevich, who is also known as Sergey Shnaider, is suspected of involvement in illegal arms trade, drug and sex trafficking as well as money laundering. The list is arranged in alphabetic order and is dominated by Americans, occupying 142 positions. Men far outshone females in the rankings with just 50 spot on the Power Map going to women. =========== Russia's Usmanov knocks steel boss Mittal off top of rich list Sun, Apr 21 08:15 AM EDT 1 of 2 By Laurence Fletcher LONDON (Reuters) - Russian businessman Alisher Usmanov has knocked Lakshmi Mittal off the top of this year's Sunday Times Rich List with a jump in his fortune to 13.3 billion pounds ($20.3 billion) after a tough year for the Indian steel magnate. In a list of wealth in Britain whose top spots are dominated by Russian and Indian billionaires, Mittal drops to fourth after eight years at number one as his fortune tumbled 2.7 billion pounds to 10 billion. Uzbek-born Usmanov, who is Russia's richest man and has a major shareholding in British Premier League football club Arsenal, saw his wealth rise by 985 million pounds over the past year, according to the annual survey by the British newspaper. Ranked second last year, Usmanov owns Sutton Place, the former Surrey home of oil baron J Paul Getty. He made 1.6 billion pounds from sales of Facebook shares after last year's stock market listing, while he has a large holding in Russian mobile phone operator MegaFon and controls iron ore miner Metalloinvest. Mittal, the chief executive of the world's largest steelmaker ArcelorMittal, has been hit by the fall in the value of its shares from more than 12 euros a year ago to less than 9 euros on Friday. The number of billionaires has risen to a record 88, in spite of tough economic conditions for many in the UK, from 77 last year. The collective wealth of the richest 1,000 people is up 35 billion pounds to 450 billion pounds. The biggest riser in wealth terms is Len Blavatnik, who is ranked second after a 3.42 billion pound jump in his fortune, thanks to a rise in his shareholdings, took his wealth to 11 billion pounds. The Odessa-born businessman, who emerged as a tycoon after the Russian privatizations of the 1990s, owns Warner Music and a house in London's plush Kensington Palace Gardens - known as 'billionaires' row' - and has been a major donor to Oxford University. The highest-placed UK-born person is the Duke of Westminster, whose swathes of land in London's upmarket Mayfair and Belgravia rank him eighth with 7.8 billion pounds. The Sunday Times also reported that Michael Ashcroft, the former treasurer of Britain's Conservative party, will next month pledge to give at least half of his 1.2 billion pound fortune to charity. To be included in the list people must have either a British passport or a strong link to the UK such as being based there or spending a significant amount of time there, a Sunday Times spokesman said. ($1 = 0.6554 British pounds) (Editing by Erica Billingham) ============ Russia’s Richest: Forbes publishes billionaire list Get short URL Published time: April 18, 2013 15:00 Edited time: April 19, 2013 06:44 Alisher Usmanov (RIA Novosti /Vladimir Fedorenko) Forbes magazine has published its 10th anniversary edition Russia's ultra-wealthy businessmen. Alisher Usmanov, owner of Metalloinvest, is officially Russia’s richest man, with a fortune of $17.6 billion. In a close second is Alfa Bank’s largest shareholder, Mikhail Fridman, who boasts a fortune of $16.5 billion. In third place is Leonid Michelson, a major shareholder in Russian gas company Novatek, who has $15.4 billion. Mikhail Fridman (RIA Novosti / Valeriy Levitin) Russia’s richest man isn’t Russian by birth. Usmanov was born in Uzbekistan. He first made his fortune in metals, and has since transitioned his investments into telecom and start-up industries. Usmanov is the owner of Metalloinvest, one of the largest iron ore and hot briquetted iron (HBI) producers and suppliers in the world. Metalloinvest recently acquired Udokan, a copper and nickel producer, which has 14.4 million metric tons of copper, one of the world’s top five deposits, according to Metalloinvest. His shift from commodities to technology has paid off for the magnate, as now almost half of his wealth is tied up in telecommunications, internet, and media services. He has expanded his fortune dabbling in the Russian telecom industry and silicon valley start-ups. Usmanov has a 10% share in Facebook. The business tycoon also has stakes in Arsenal football club, and Forbes reported he spent more than $300 million on a private jet last year. This is the second year in a row Usmanov has topped the list, and his tenth straight year within the top 36 richest Russian businessmen. Viktor Vekselberg, owner of Renova, broke into the top five with $15.1 billion, and in sixth place is the President of Lukoil, Vagit Alekperov. In eighth place is Vladimir Lisin, a former steelworker who now owns Novolipetsk Steel, Russia’s most valuable steelmaker, which gained 8.9% in mid-April giving the company a market cap of $1.1 billion, according to Bloomberg. This was much needed recovery after the low steel prices of 2012 have chipped $1.8 billion from his fortune. In ninth place is Vladimir Putin’s right hand man, Gennady Timchenko, a dual Russian-Finnish citizen, and a highly influential energy and construction magnate in Russia. Leonid Mikhelson (RIA Novosti / Aleksey Nikolskyi) In the tenth place is alpha oligarch, and former presidential candidate, Mikahil Prokhorov, with a $13 billion fortune. Prokhorov, like Usmanov, made his fortune in mining, metals, and energy, and switched over to technology pre-crisis. Prokhorov bought an 80% share in the New York Nets basketball team, for $200 million in 2010. Just shy of the top ten is Dmitry Rybolovlev, whose $9.1 billion net worth landed him the 14th position. Rybolovlev reportedly bought a Greek island for $100 million. Rybolovlev beat out other celebrity billionaires like Bill Gates, Madonna, and Roman Abramovich, who were also eyeing the island. Roman Abramovich found himself outside of Russia’s top ten, and is now 13th domestically, and 107th worldwide. The Chelsea football club owner lost $1.9 of his fortune in 2012, putting his 2013 wealth at just $10.2 billion Beating out all Russian billionaires on Forbes overall list, is former national, Sergey Brin, founder and CEO of Google. Brin’s bank account far exceeds all his former compatriots, at $22.8 billion. Forbes has been documenting the world’s richest people since 1987, and Russia’s richest since 1997, Boris Berezovsky debuted Russia’s list in 1997 with a $3 billion capital worth. To even be considered for Russia’s ‘Golden Hundred’, one’s fortune must at least be $500 million. Russia is home to 100 billionaires. Eleven Russian businessmen are included in the Forbes ‘100 Richest’ list in 2013. Russian Ranking World Ranking Name Age Personal Fortune (billions) Associated Companies #1 #34 Alisher Usmanov 59 $17.6 Metalloinvest #2 #41 Mikhail Fridman 48 $16.5 TNK-BP #3 #47 Leonid Mikhelson 57 $15.4 Novatek #4 #52 Vicktor Vekselberg 56 $15.1 Renova, Skolkovo Fund #5 #55 Vagit Alekperov 62 $14.8 Lukoil #6 #56 Andrey Melnichenko 57 $14.4 Novatek, Sibur Holding, First United Bank #7 #58 Vladimir Potanin 52 $14.3 Interros, ProfMedia #8 #62 Vladimir Lisin 56 $14.1 First Cargo Novolipetsk #9 #62 Gennady Timchenko 60 $14.1 Gunvor Group, Novatek #10 #69 Mikhail Prokhorov 47 $13.0 Onexim ===========

Q&A-What does subsidy bill mean for Iran?

09 Nov 2009 15:38:32 GMT
Source: Reuters




TEHRAN, Nov 9 (Reuters) - The political stakes are high for the plan of Iran's President Mahmoud Ahmadinejad to cut food and energy subsidies.

Locked in dispute with Western powers over Iran's nuclear programme, the populist president has faced an unprecedented wave of protests by supporters of moderate defeated candidates claiming June's presidential election was forged.

The liberal reforms could stoke popular dissent, coming at a time of spending cutbacks because of the fall in world oil prices over the past year. Or they could put the economy and government in better shape to withstand more sanctions in the nuclear dispute. Iran is one of the world's top five oil producers.

Here are key facts in the subsidy debate:

WHAT IS THE HISTORICAL BACKGROUND TO THE PLAN?

Overhauling Iran's generous subsidy system has been under discussion for years, but stiff popular and political resistance has repeatedly stalled attempts at reform.

Gasoline rationing was introduced in 2007 as the first step towards reforming the system. Though it provoked riots in Tehran, the plan went ahead.

The current bill, which takes the plan forward, was presented to parliament in early 2009, before the presidential elections in June that provoked protests by supporters of defeated opposition candidates who claimed vote fraud won Ahmadinejad the poll.

The bill was approved in October but Ahmadinejad fought off an attempt to impose close scrutiny over what his government does with the money. Parliament obliged the government to count the subsidy savings as part of the official budget that requires the assembly's approval but on Saturday pulled back from a threat to demand special accounts are set up directing the money into specific areas of the economy approved by parliament.

Now the reforms must win the approval of hardline watchdog body the Guardian Council before coming into effect.

HOW BIG ARE SUBSIDIES?

Subsidies covering gasoline and other refined products, natural gas, electricity, water and basic foodstuffs cost Iran at least $90 billion a year and equal around 30 percent of GDP. But state help in energy products accounts for the majority of the state subsidy system. Subsidies cover oil, petrol, natural gas, electricity, water, flour, transport, and telephone services.

WHAT WILL THE BILL DO?

The idea is to move towards free market prices in the five-year period to 2015. According to Business & Economy Digest, published by Access Consultancy Group:

* Gasoline and refined products will be priced at 90 percent of Middle East benchmark prices on a free-on-board (FOB) basis. Prices will be revised if there is a fluctuation of more than 25 percent.

* Natural gas for households will be priced a minimum 75 percent of the average export price.

* Price of gas for industries, refining and petrochemicals will be a maximum 65 percent of the average gas export basket.

* Electricity and water will be at free market prices in 2014.

* The government could earn $10-20 billion in 2010/11 through price increases it will be able to introduce.

WHAT HAPPENS TO THE SAVINGS?

Analysts say around 50 percent is for redistribution among the people, 30 percent will be made available to industries in the form of loans, and 20 percent to create a social safety net.

Media have said the government intends to open bank accounts for 36 million people, about half its population, to give them cash to compensate for higher food and energy prices.

WHAT OTHER AIMS BEHIND IT?

By removing the heavy budget burden, Iran could be less vulnerable to any new U.N. sanctions on imports over Tehran's disputed nuclear energy programme, which Washington says is a front for building weapons. Tehran denies this.

Iran could be vulnerable to sanctions on energy imports since it imports around a third of its gasoline consumption needs due to lack of refining capacity. Iran imports around 100,000 to 120,000 barrels per day (bpd) of gasoline. Demand is growing at 6 percent per year as 700,000 new cars hit the roads each year. Reducing consumption will lighten any blow.

Iran also imports rice, with annual consumption of about 3 million tonnes exceeding domestic production by about 750,000 tonnes. The country imported 5.9 million tonnes of wheat in the 2008-09 year after it was hit by a severe drought, but an agriculture official suggested in May it may produce enough of the grain this year to meet domestic needs.

With oil prices down to about $80 a barrel, many development and infrastructure projects have been delayed in the past year. The subsidy reform could help the government in this regard.

U.N. sanctions have stopped Western companies investing in Iran and even slowed the flow of cash from Asian firms less concerned by Western opprobrium.(Disgrace arising from exceedingly shameful conduct; ignominy.)

Critics say the need for savings is ironic, arguing that Iran's total debts balance around $40 billion was mainly incurred through overzealous spending during Ahmadinejad's first term.

WHAT OTHER EFFECTS COULD THE CUTS HAVE?

It could be inflationary and lead to a repeat of the street disturbances of 2007. Some analysts say inflation could rise by as much as 40 percent, with prices already high. Ahmadinejad says redirection of the subsidies to the poor will help close the gap between the rich and the poor segments of the country. But many fear it will make the poor poorer.

Hardline lawmaker Ahmad Tavakkoli said on Saturday: "The bill will have a negative impact on inflation. It will eliminate the middle class and will increase the number of poor people in the country."

Opposition leader Mirhossein Mousavi said the plan could be beneficial if implemented well, hinting at corruption and incompetence in bloated state structures -- something his campaign dwelt on in the disputed election.

"If this does not happen then people, if pressured further, will confront the government," he said, according to website Kaleme on Monday.

(Compiled by Parisa Hafezi, Reza Derakhshi, Andrew Hammond; editing by Samia Nakhoul)