Russia, Israeli firm agree to invest $100 mln in Russia’s dairy industry – Reuters

MOSCOW, March 9 Russian Direct Investment Fund (RDIF), Russia's sovereign wealth fund, and the Israeli investment company LR Group have agreed to co-invest $100 million into dairy farming and milk processing in Russia.

The sum represents the first phase of joint investment for which regional projects are already being analysed, a statement from RDIF said.

A global oil slump in recent years, western sanctions and counter sanctions have pushed Moscow to work towards diversifying its resource-based economy.

Russian and Israeli cooperation in agriculture was earmarked as a priority during Israeli Prime Minister Benjamin Netanyahu's visit to Moscow on Thursday.

"Adaptation of the best technologies and creation of vertically integrated regional dairy clusters will significantly increase milk production," Ami Lustig, CEO of LR Group Israel, said in a statement. (Reporting by Dasha Afanasieva; editing by Katya Golubkova)

* Said on Thursday a loss of more than half of the company's share capital as at 31 December 2016 occured

SEOUL, March 10 South Korea's central bank chief on Friday said the bank will meet on Saturday to discuss any market impact from the Constitutional Court's ruling removing the president, and vowed to stabilize markets if needed.

* Signed agreement to acquire property Tranbodarne 13 in Sdermalm in Stockholm

See original here:

Russia, Israeli firm agree to invest $100 mln in Russia's dairy industry - Reuters