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First Video Added to Moscow Times Web Site

The video, a 3 1/2-minute interview with Rose Gottemoeller, director of the Carnegie Moscow Center, examines the informal summit between Presidents Vladimir Putin and George W. Bush in Sochi on April 6. The video can be found on The Moscow Times' homepage, www.themoscowtimes.com.

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Market Matters : Oil Tax Pledge Buoys Markets
Markets surged after the swearing-in of Dmitry Medvedev as president in a pomp-filled ceremony Wednesday and a tax-cutting speech by Vladimir Putin the day after, when he was approved as prime minister.

Russia Investment Roadshow : Scenes From Last Year's Forum



Tuesday, May 13, 2008 Updated at 13 May 2008 0:36 Moscow Time

The Moscow Times » Issue 3898 » Business

Raspadskaya Eyes London Share Sale

08 May 2008BloombergRaspadskaya, the country's second-largest producer of coal for steelmakers, may sell shares in London to expand mines and increase exports after prices tripled in a year.

Chief executive Gennady Kozovoi, who has a 20 percent stake in the company, said Wednesday that he wanted to expand sales "steadily" into China, Japan and South Korea.

Raspadskaya increased 257 percent in Moscow trading in the past year, valuing the company at $6.6 billion. The shares rose 10.23 rubles, or 4.8 percent, to close at 222.07 rubles ($9.32) in Moscow trading.

The company plans to expand its mines in the Kemerovo region and develop sites where it has mining licenses. Raspadskaya produced 13.6 million tons of coal in 2007 and full-year profit more than doubled to $239 million.

"If the company has some kind of an expansion, we may look to sell some more shares in London," Kozovoi said. "Right now, we don't need the money."