The Moscow Times

Business: RenCap Cuts RTS '08 Target to 2,350
Renaissance Capital on Monday slashed its year-end forecast for the benchmark RTS Index from 3,000 to 2,350 and increased its equity risk premium for the country from 4 percent to 5.5 percent in a sign of continued investor jitters.

News

Medvedev Disappointed in Dushanbe
By Nabi Abdullaev / Staff Writer Moscow fell short of the diplomatic support it was looking for Thursday, as Central Asian states and China failed to back its recognition of independence for South Ossetia and Abkhazia, offering instead only qualified praise for Russia's actions in the Georgian conflict.

Putin Accuses U.S. Over Georgia
By Nabi Abdullaev / Staff Writer Prime Minister Vladimir Putin on Thursday accused the United States of orchestrating the military conflict in Georgia in order to boost the chances of a U.S. presidential candidate.

Siemens Takes Look at Sovereign Wealth Fund
By Anatoly Medetsky, Nadia Popova / Staff Writers Europe's biggest engineering company, Siemens, said Thursday it was seeking investment from a Russian sovereign fund as it looks for greater access to the country, where huge infrastructure projects are planned.

NATO Says Black Sea Presence Routine, Denies Buildup
Reuters NATO dismissed Russian suggestions it was reinforcing its presence in the Black Sea on Thursday, insisting that a group of warships was there on a long-planned routine exercise.

Missile Test Called Success
Reuters Russia successfully tested a long-range Topol missile designed to avoid detection by anti-missile defense systems from its Plesetsk launch site, a military spokesman said Thursday.

Russia Frees 12 Georgians at Abkhaz Border
The Associated Press Russian forces turned over 12 Georgian soldiers on the border of one of the separatist provinces under Russian control Thursday after the short war that outraged the West and brought Moscow's military deep into Georgia.

Britain Says Russia's Deeds Threaten Europe's Stability
By Robert Barr / The Associated Press British Foreign Secretary David Miliband said Thursday that Russia's recent actions in Georgia and elsewhere threaten to undermine stability in Europe.

Georgians Pray for Their Country After Defeat
By Mark Trevelyan / Reuters Georgians flocked to churches Thursday to pray for their country reeling from military defeat by Russia and the secession of two of its provinces.

Missile Explosions in Ukraine
The Associated Press Artillery shells and other ammunition at a storage site in Ukraine exploded after a forest fire spread to the facility, prompting an evacuation, emergency officials said.

U.S. to Review Russia Relations
Reuters U.S. lawmakers next month will examine the U.S.-Russia relationship in light of Moscow's military moves into neighboring Georgia, but no decisions have been made on whether legislation will be advanced, aides said.

Business

Investors Bet Millions on the Sun
By Maria Antonova / Staff Writer Global demand and Russian expertise are seen as the recipe for solar power.

Football Is Becoming Big Business in Russia
By Tariq Panja / Bloomberg As coach Dick Advocaat celebrated with his Zenit St. Petersburg team after they won the club's first European trophy, his mobile phone buzzed. It was Prime Minister Vladimir Putin.

VimpelCom's Q2 Profit Up 31%
Combined Reports The cell phone company also confirms it will start selling iPhones this year.

Business in Brief
Ruble Seen Up 3% in '08RSPP Criticizes TaxesChubais to Nanotech?Vozrozhdenie Profit UpNo Shtokman PoliticsIntegra Narrows Loss

LUKoil Appeals for Anti-Monopoly Intervention
Reuters LUKoil will ask the Federal Anti-Monopoly Service to intervene in a dispute with aluminum firm United Company RusAl over oil coke supplies, the oil company's vice president, Valery Subbotin, told reporters Thursday.

Russia Will Compromise After Joining WTO
Reuters Russia wants to renegotiate a few current trade agreements and is only ready to lower tariffs and liberalize trade after joining the World Trade Organization, its top negotiator was quoted as saying Thursday.

AvtoVAZ, Nissan Seen in Deal
The Moscow Times AvtoVAZ, the country's biggest carmaker, and the Renault-Nissan alliance are planning to assemble Nissan models at a new factory in the Far East, Vedomosti reported Thursday, citing sources in AvtoVAZ.

Opinion

Michele A. Berdy: One Way to Live Happily Ever After
To end up with nothingI don't know about you, but if I read, watch or see one more report on world events, I will lose my mind. I feel like I'm on the deck of the Titanic.

Stalin's Poison Pills
A lot of attention was focused on the symbolic importance when Russian forces occupied Gori, the birthplace of Stalin. Few reflected, however, that this conflict, like many others in the post-Soviet states, is the product of what many in business call ""poison pills,"" arrangements that make it difficult, if not dangerous, for anyone to try to takeover or even change the basic arrangements of another firm.

Mailbox

Getting Russia to Pay for Its Defaulted Bonds

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