World important news by Merlene

Alrosa, the secretive state diamond monopoly, is seeking to buy back oil and gas assets Geotransgas and Urengoy from VTB for $1 billion, planning to pay $600 million from its own pocket.The company, which handed the two companies to VTB during the crisis of 2008-2009 in a repo deal, plans to develop them but would also be open to a sale.”I am ready to sell these assets any time when I am offered … $1 billion,” Andreyev told journalists on Monday.Andreyev also said that the company’s revenue rose 2.7 percent to 66 billion roubles ($2.13 billion) in the first half of 2011, according to International accounting standards.Alrosa’s earnings before interest, taxes, depreciation and amortisation (EBITDA) jumped 74 percent to 36 billion roubles in the first six months of 2011, he said, adding that its EBITDA margin hit a record high of 54 percent.In the whole of 2011 Alrosa, the biggest rival to global giant De Beers, seeks to post $5 billion in revenues and a $2 billion EBITDA, which would be “enough to finance all our projects excluding iron ore and gas (projects),” Andreyev said. ($1 = 30.92 Russian Roubles) (Writing By Andrey Ostroukh; Editing by David Cowell)