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  • *Fred Hassan to become non-executive chairman in January. Oct 5- Avon Products Inc will close the book on the Andrea Jung era at the end of the year, clearing the way for new Chief Executive Sheri McCoy to try to fix the iconic but struggling beauty products company.

  • *Energy ministry, LUKOIL to meet investors this month. LONDON/ MOSCOW, Oct 5- Rosneft Chief Executive Igor Sechin met investors in London on Friday, launching a charm offensive by Russia's oil industry, which is trying to court foreign capital after a decade in which it became almost synonymous with resource nationalism.

  • LONDON, Oct 5- Russian state owned oil company Rosneft will spend a total of $25 billion to modernise its Soviet-built refineries, company chief executive Igor Sechin told investors on Friday, sources familiar with his presentation said. Sechin said $7 billion has already been spent. The remaining $18 billion will be spent over the next five years.

  • LONDON/ MOSCOW, Oct 5- Rosneft Chief Executive Igor Sechin met investors in London on Friday, launching a charm offensive by Russia's oil industry which is trying to court foreign capital after a decade in which it became almost synonymous with resource nationalism.

  • UPDATE 1-TNK-BP keeps dividend decision on hold Friday, 5 Oct 2012 | 1:57 PM ET

    *TNK-BP gives green light to Rospan gas project. MOSCOW, Oct 5- TNK-BP's directors held back from deciding on a dividend payout at their meeting on Friday, with the Russian oil company saying only that the matter would be discussed "over the coming weeks", when bidding is expected to be underway for BP's 50 percent stake.

  • *Fred Hassan to become nonexecutive chairman in January. By Jessica Wohl and Phil Wahba. Oct 5- Avon Products Inc.

  • Med Crude-Urals strongest since early Sept Friday, 5 Oct 2012 | 1:26 PM ET

    LONDON, Oct 5- Russian Urals crude ended the weak on a bullish note on Friday, rising to its strongest levels since early September as traders said October volumes in the Mediterranean were mostly sold out.

  • RPT-Russia's Alfa increases stake in Vimpelcom Friday, 5 Oct 2012 | 11:40 AM ET

    MOSCOW, Oct 5- Russian billionaire Mikhail Fridman's Alfa Group has increased its voting stake in emerging markets telecoms operator Vimpelcom to 41.85 percent from 40.5 percent, a spokesman for Alfa's Altimo unit said. The increase brings Altimo's ownership of Vimpelcom closer to the 43 percent owned by Norwegian telecoms group Telenor.

  • Russia's Alfa increases stake in Vimpelcom Friday, 5 Oct 2012 | 11:38 AM ET

    MOSCOW, Oct 5- Russian billionaire Mikhail Fridman's Alfa Group has increased its voting stake in emerging markets telecoms operator Vimpelcom to 41.85 percent from 40.5 percent, a spokesman for Alfa's Altimo unit said. The increase brings Altimo's ownership of Vimpelcom closer to the 43 percent owned by Norwegian telecoms group Telenor.

  • By Maya Dyakina and Lidia Kelly. MOSCOW, Oct 5- Russian shares and the rouble rose in light trade on Friday, ending higher for the week, after strong U.S. jobs data increased global appetite for risk. A stronger U.S. economy improves the outlook for commodities, helping major commodity exporters such as Russia.

  • TNK-BP aims to discuss dividends "over coming weeks" Friday, 5 Oct 2012 | 11:03 AM ET

    MOSCOW, Oct 5- Russia's third-largest crude producer TNK-BP, in which BP has put its 50 percent stake up for sale, said on Friday its board of directors will discuss a possible dividend pay out in the coming weeks. In July, AAR- BP's partners in the TNK-BP venture- blocked a $1 billion dividend from the Russian oil business.

  • Britain's Debenhams has high hopes for Russia Friday, 5 Oct 2012 | 11:01 AM ET

    MOSCOW, Oct 5- British department store group Debenhams expects to generate a fifth of its overseas sales by 2015 in Russia, which is set to become Europe's biggest retail market. Debenhams, which has been increasing sales at home despite a recession there, returned to Russia in September, six years after pulling out of the country because it was losing money.

  • UPDATE 2-CEZ dumps Areva from Temelin nuclear tender Friday, 5 Oct 2012 | 10:58 AM ET

    *CEZ says Areva fails to meet requirements. PRAGUE, Oct 5- Czech power group CEZ threw out Areva's bid for a multibillion-dollar contract to expand the Temelin nuclear power plant, leaving U.S. and Russian firms to contest the country's biggest-ever energy deal.

  • MegaFon moves closer to London IPO-sources Friday, 5 Oct 2012 | 10:37 AM ET

    MOSCOW, Oct 5- Russia's second-largest mobile phone operator MegaFon may start pre-marketing for its London IPO next week, but is yet to make a final decision regarding timing, three sources familiar with the situation said.

  • *Fred Hassan to become nonexecutive chairman in January. Oct 5- Avon Products Inc said Executive Chairman Andrea Jung, who was replaced as chief executive officer in April, would step down from the board at the end of 2012, ending what became a tumultuous tenure in recent years and sending the company's shares up nearly 6 percent.

  • Russian carmaker AvtoVAZ moves back into profit Friday, 5 Oct 2012 | 9:48 AM ET

    MOSCOW, Oct 5- Russian carmaker AvtoVAZ made an underlying net profit of 700 million roubles in the first half of the year, it reported on Friday, which compared with a 500 million-rouble loss in the same period last year despite a fall in vehicle sales.

  • MOSCOW, Oct 5- Russian Railways is likely to finance the 800 million euro purchase of a stake in logistics firm Gefco through a loan from Russian bank VTB, two industry sources told Reuters on Friday.

  • Areva's bid to build Czech reactors rejected Friday, 5 Oct 2012 | 9:01 AM ET

    PRAGUE-- Czech state-run power utility CEZ says it has rejected a bid by France's state-owned nuclear engineering giant Areva SA to build two more nuclear reactors at the Temelin nuclear plant. CEZ says Areva's bid has not met necessary criteria to run for the contract, estimated to be worth more than $10 billion.

  • Russia's Sakhalin-2 sees flat oil output in 2012 Friday, 5 Oct 2012 | 8:50 AM ET

    MOSCOW, Oct 5- Russia's Pacific Sakhalin-2 project, in which Shell owns a 27.5 percent stake, expects no change to its oil production this year, a spokesman for the operator said on Friday, refuting media reports of a possible decline.

  • PRAGUE, Oct 5- Czech power group CEZ has disqualified Areva from a multibillion-dollar tender to expand the Temelin nuclear power plant because the French company failed to meet certain requirements for the project, CEZ said on Friday.

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