RusHydro sees loss from idled dam at 16.5 bln rbls
MOSCOW Aug 25 (Reuters) - Russian hydroelectricity group RusHydro (HYDR.MM) said on Tuesday it would sustain losses of 16.5 billion roubles ($523 million) by 2013 from the stoppage of the hydropower plant damaged in an accident last week. The company also said in a conference call it did not rule out moderately sized new share placements to help it cope with the costs of the deadly incident.
The accident destroyed three of the 10 power generating units at the Sayano-Shushenskaya power station and forced RusHydro to shut the entire power station down for repairs, leading to electricity shortages in Siberia. (Reporting by Anastasia Lyrchikova; Writing by Simon Shuster; Editing by Robin Paxton and David Holmes) ($1=31.55 Rouble)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.