Talks, Machines, revenues, reports, holding, value, shares, producers, Automobile, output, multi-industry, shareholder, assets, engineering, proposal, progress, corporation, vehicles

MAZ is one of the largest ___ of trucks in the Commonwealth of Independent States (CIS) and controls about 35% of Russia's heavy truck market. Russian ___, or Russian Automobiles, is the automotive arm of Russian ___ holding Basic Element and a major ___ in Russian automobile maker GAZ Group. Basic Element is an integrated industrial ___ created in 1997. Consolidated ___ exceeded US$ 18 billion in 2006; market ___ of assets totals US$ 23 billion. ОАО Russian Machines is Russia's largest auto manufacturing group, incorporating industrial and engineering ___ of Basic Element. Last year’s overall ___ exceeded 180,000 ___. OAO Russian Machines incorporates GAZ Group, RM Systems, Magna International, Aviacor, and the Russian Corporation of Transport ___.

In accordance with the ___, MAZ is supposed to contribute 100% of its ___, and Russian Machines will contribute its 100% shareholding in Ural. The two producers will respectively hold 40% and 35% in the new ___, with an investment bank taking the remaining 25% stake.

According to earlier___, Russian truck producer KAMAZ is also seeking to buy the Minsk ___ Plant, known by its Russian acronym MAZ.

___ between the Belarusian government and Russian Machines are in ___ over incorporation of Belarus' MAZ automaker.

4. Complete the following text with the given adjectives:

Legal, full, offshore, exhaustive, foreign (2 times), high, individual, state, technical.

___ TECHNOLOGY PARK

 

Belarusian ___ entities (including those with 100% ___ investment) and ___ entrepreneurs, whose activities are concerned with the analysis, development and software support of information systems and data processing, can be members of HT Park in Belarus. The regime of HT Park provides ___ exemption from almost all of taxes and duties, including profit tax, VAT and real estate tax. What is more, the ___ equipment imported by the residents of HT Park into the customs territory of the Republic of Belarus is exempt from customs duties and VAT. The ___ list of such inventories is determined by the ___ authorities and includes computer, copying and facsimile devices. The income paid to a ___ entity originating from HT Park resident’s sources can be subject to withholding tax at a rate not exceeding 5%. The residents of the Park do not pay ___ duty on the dividends paid to their shareholders.

 

DISCOVERING LANGUAGE

1. Insert a, the, or zero articles.

FREE ECONOMIC ZONES

___ Free Economic Zone is ___ part of ___territory of ___ country with ___

exactly defined borders and ___ special legal regime that provides more favorable conditions for ___ business. Basically, ___ objective of these zones is to attract and ensure ___ effective use of foreign and national investments, for ___ creation and development of goods for export, and will be based on ___ latest technologies, as

well as effectively using ___ available production space.

There are 6 free economic zones in the Republic of Belarus. ___ appeal, for ___ potential investor, of ___ special legal regime like FEZ, is preferential taxation. ___residents of the FEZ pay certain taxes at reduced rates: profit tax – 12%, transport duty – 1.5%, VAT – 9%. Excise duties are applied by ___ residents of FEZ at ___ halved rate.

    Profit received by ___ residents of FEZ from ___ realization of goods (works, services) of own production is exempt from ___ profit tax for ___ period of 7 years as from receiving such profit. Besides, ___ residents of FEZ do not pay ___ turnover tax at ___ rate of 2%.

 

2. Open the brackets minding tense forms of the verbs.

In May 2007 Russian Gas Giant "Gazprom" (sign) an agreement with the Belarusian government on acquisition of a 50% stake in the national gas pipeline monopoly "Beltransgaz" for US $ 2.5 billion. The deal (become) the largest investment offer in the history of independent Belarus.

Payment (be) in four annual tranches in 2007-2010. Gazprom thus (acquire) 12.5% in Beltransgaz every year.

The shares of Beltransgaz to be sold to Gazprom may not be disposed of or otherwise encumbered before the transaction (complete).

Within 50 days of acquisition of the first 12.5% stake in Beltransgaz by Gazprom, Beltransgaz (call) an extraordinary general meeting to elect new members of the supervisory board, according to the contract.

On December 31 2006, Gazprom and the Belarusian government also (sign) an annex to the protocol on a joint gas transport venture, supplies, and transit of natural gas through Belarus.

The document (envisage) a gradual increase in the wholesale markup on natural gas that Beltransgaz (sell) to domestic consumers in 2008-2010 and a commitment on the Belarusian side not to introduce the golden share rule in Beltransgaz.

On December 31 2006, Belarus and Russia (sign) a protocol to establish a joint gas transport venture on the basis of Beltransgaz by June 12007 and regulate natural gas supplies and transit.

 

3. Fill in the gaps with the given prepositions.