Skip navigation


Current DateTime: 06:24:16 27 Nov 2009
LinksList Documentid: 24355697
  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

  • Wines for the Holidays

      Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES


Current DateTime: 06:24:16 27 Nov 2009
LinksList Documentid: 33793611
  • How Well Do You Know Your Bird?

      Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.

  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.

  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?


Current DateTime: 06:24:16 27 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
UPDATE 2-Russian Duma passes beer tax hike in first reading
By: AFX | 06 Nov 2009 | 12:23 PM ET
Text Size

MOSCOW, Nov 6 (Reuters) - Russia's lower house of parliament on Friday cleared the first reading of a bill to triple duties on beer, a move the government hopes will help plug a budget deficit and beer majors fear could lead to factory shutdowns. The bill was approved by a majority of 315 votes to include amendments to the tax code to increase the duty on beer to 9 roubles from the current 3 roubles. The bill implies the duties will rise to 10 roubles from Jan. 1 2011 and to 12 roubles from Jan. 1 2012 for the beer which averaged from 0.5 percent to 8.6 percent alcohol per one litre and makes more than 90 percent of all beer sold in Russia. Government officials have said the bill will bring in an extra 65 billion roubles ($2.24 billion) of budget revenues in 2010, specifying this would go into the regional and federal budgets, which is seen running a deficit of 6.8 percent of GDP next year, or around 3 trillion roubles. It was not immediately clear when the Duma will hear the bill in the key second reading, when most draft bills can be amended. Danish brewer Carlsberg has said the firm could shut down some factories in Russia while new higher duties could cost the country some 100,000 jobs. The shares of Carlsberg, which owns Russia's largest brewer, Baltika, have regularly fallen in the past months on news from Russia alongside the shares of SabMiller and Heineken . Apart from higher duties, a ministry has proposed drastic limits on beer sales via kiosks and in markets which industry experts say could affect over 25 percent of sales in Russia. The proposal, which has yet to be reviewed and approved by the government, came shortly after President Dmitry Medvedev ordered tough measures to curb alcohol abuse, describing alcoholism as a "national disaster". (Reporting by Maria Plis, writing by Dmitry Zhdannikov, editing by Dmitry Sergeyev and Andy Bruce) ($1=29.01 Rouble) Keywords: RUSSIA BEER/ (Moscow Newsroom, + 7 495 775 12 42) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • Social enterprises are becoming a new asset class for the ethically-minded.
  • Ever wished your cab driver would stop nattering and just get to where you're going? Well that moment is near(er).
  • Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
  • More shoppers than ever plan to comparison-shop this season. Who will benefit?
  • It may be the most unusual guide to business you'll read.
ADD COMMENTS
Remaining characters


Current DateTime: 06:14:06 27 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:02:03 27 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 01:03:47 27 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:03:47 27 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters