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th-08012007As anticipated, 2006 was an active year for equity issuance by Russian firms, and 2007 is expected to be even bigger, with an estimated total of US$31.6bn in issuance next year from an estimated US$20.1bn in 2006.

Russian firms are being prompted to issue equity, both in the form of initial public offerings (IPOs) and secondary issues, in order to raise capital for development, fund overseas acquisitions and, by listing abroad, hedge against rising domestic political risk in the run-up to the 2007-08 election season. The state has also needed to raise funds so as to finance its increasing control of key “strategic” sectors of the economy, notably energy.

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Did you know?

that the revenue that is generated from gambling is more than the revenue derived from movies, cruse ships, recorded music, theme parks and spectator sports combined?

that in a lifetime the average European or North American will discard more than 600 times his or her adult weight in garbage and about a ton of trash per person per year?

that recycling 1 ton of paper saves 17 mature trees, 7,000 gallons of water, 3 cubic yards of landfill space, 2 barrels of oil, and 4000 kilowatt hours of electricity; this is enough energy to power the average North American home for 5 months?

that annually, the amount of garbage that is dumped in the world’s oceans is three times the weight of fish that is caught from the oceans?

that Pytheas through its Soil Water + Life Solutions is probably the only entity world wide that can provide a-no-chimney-no-landfill-solution for the treatment of municipal solid and liquid waste?

that every year, Americans buy more than 100 million cell phones, yet fewer than 20% of old cell phones are recycled and that recycling just a million cell phones reduces greenhouse gas emissions equal to removing 1,368 cars off the road for a full year?

that recycling steel saves 75% of the energy that would be used to create steel from raw materials, enough to power 18 million homes?

that Pytheas the ancient Greek explorer, mathematician, astronomer and navigator must have travelled to the American continent at the time of Alexander the Great?

that Confucius about 2,500 years ago argued that the government should not compete for profit with the people, as it would only result to the exploitation of the population?

that the Boeotian Hesiod about 3000 years ago theorized on the entrepreneurship typical of the market (an early laissez-faire), identifying the effects of government debasement of the coinage, which causes a decrease in its purchasing power (think Adam Smith, Keynes and post Keynes), arguing about the importance of competition and the importance of justice and the law in order to foster order and harmony in society?

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