Summary
The long-anticipated IPO of Russian aluminum producer Rusal was delayed until the first half of 2010 after the Hong Kong stock exchange declined to approve the controversial issue. The Russian government is eager to maintain the status quo surrounding the company and to head off possible layoffs that might result from the launch of bankruptcy proceedings. Meanwhile, in early December Pres Dmitry Medvedev formally signed into law the 2010 federal budget, which sharply increases spending on social services and debt expenditures while cutting health and education expenses.
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Russia
The long-anticipated IPO of Russian aluminum producer Rusal was delayed until the first half of 2010 after the Hong Ko...
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