The Moscow Times

Market Matters: Struggling Stocks Spur New Record Oil Prices
Oil hit another record of just under $143 as global stocks tumbled last week, with the Dow briefly dipping into bear market territory as investors sought safety in gold, government debt and the Swiss franc.

Business

MICEX and RTS Retreat
Bloomberg The MICEX Index fell for the first time in three days, dropping 2.7 percent to 1,632.37 as all but five of the 30 stocks retreated. The dollar-denominated RTS Index declined 2.3 percent to 1,966.73.

$13Bln Chelyabinsk Refinery Planned
Bloomberg Quality Energy Petro Holding International, owned by a member of Abu Dhabi's al-Otaiba family, plans to build a $13 billion oil refinery with the government of Chelyabinsk in the United Arab Emirates, the company's chairman said Tuesday.

Auditors Could Be Asked to Snitch
Bloomberg The Central Bank and Finance Ministry are proposing legal changes that will require auditors to pass on to authorities any information they have on breaches of regulations by their clients, Kommersant said Tuesday.

Ukraine Accepted Into WTO
Bloomberg Ukraine on Tuesday won permission to join the World Trade Organization after a 15-year battle to speed up economic growth, improve living standards and set up a free-trade area with the European Union.

Russians Push Up Prices of Rare Icons
By Peter Finn / The Washington Post Buyers are going on a spending spree at London auction houses to return the art to its motherland.

BP Says Kovykta Talks May Take Longer
Reuters BP said Tuesday that it could extend talks with Gazprom over an asset-swap deal involving the giant Kovykta gas field if the two sides did not reach an agreement by a July deadline.

Kremlin Aide Sechin to Run Again for Board of Rosneft
Reuters Igor Sechin, a Kremlin deputy chief of staff, will run again for the board of Rosneft, the government said Tuesday, dashing speculation that the powerful official could lose his big oil job this year.

Gazprom, SUEK Value Power Venture
Reuters Energy majors Gazprom and SUEK have agreed in principle on the terms of their joint power venture, which they value at $14 billion to $18 billion and may complete by September, a source with direct knowledge of the deal said.

Terminal-3 Seen Ready a Year Late
The Moscow Times Sheremetyevo Airport's Terminal 3 will be delayed a year, and costs have run one-third over the original budget of $400 million, Aeroflot chief executive Valery Okulov said Tuesday, Interfax reported.

U.S. Wary of Russian Finance
Reuters The United States should be worried that Russia, China and OPEC countries could use their growing financial clout to advance political goals, the top U.S. spy chief told Congress on Tuesday.

Business in Brief
Health Care ReorganizationCitibank Told to Rehire 6Ministry Safe Until ElectionsLUKoil Seeks Russneft AssetNabucco's One-Year DelayNord Stream AlternativeChemezov Requests CopperGazprom to Prepare ExclavePulkovo Traffic Up 20%Inflation AcceleratingFire Near Nuclear StationNanotechnology Sales PlanFor the Record

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