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.

News

Troika Skating Party, Kudrin Charm Davos
By Andrew McChesney / Staff Writer Troika Dialog brought Russia to Davos -- and the invitation-only party offered a lot more than five Moscow chefs sending meat pies and blini out of the kitchen.

Russia Sidelined in U.S. Campaign
By Miriam Elder / Staff Writer With the U.S. economic downturn, the war in Iraq and the threat of looming conflict with Iran, it is little wonder that candidates in the heated U.S. presidential primaries spare few words for Russia.

Mogilevich Arrested With Arbat Boss
By Nikolaus von Twickel, Max Delany and Natalya Krainova / Staff Writers Semyon Mogilevich, a suspected organized-crime boss who is wanted by the Federal Bureau of Investigations for alleged fraud and racketeering, has been arrested along with Arbat Prestige owner Vladimir Nekrasov.

Blizzards Hit Schools, Heat, Electricity
By David Nowak / Staff Writer The recent blizzards that have closed factories and schools, left thousands without heating and electricity and buried roads under think blankets of snow in some of the country's regions look set to continue into next week, forecasters warned Friday.

Double-Agent Deserter Tells Story of $500 Million Scam
The Associated Press A former Russian top spy says his agents helped the government steal nearly $500 million from the UN's oil-for-food program in Iraq before the fall of Saddam Hussein in 2003.

Estonia Fines Man Convicted of Cyber Attack
Reuters An Estonian court has fined a man in the only conviction linked to cyber attacks on official web sites during last year's riots over the relocation of a Soviet-era war memorial.

Ukraine Parrots Perish in Belarus
Reuters Veterinarians fearing cases of bird flu have destroyed 275 parrots brought into Belarus illegally by a smuggler on a bicycle, a newspaper reported Friday.

U.S. Commander Has Meeting With Karimov
The Associated Press The commander of U.S. forces in Central Asia met with Uzbek President Islam Karimov, the first visit by a high-level U.S. military officer since the authoritarian leader evicted U.S. troops amid Western criticism of a bloody government crackdown.

Ukrainian Radar 'No' Ukrainian Parts 'Yes'
By Vladimir Isachenkov / The Associated Press The State Duma on Friday voted to stop using Soviet-built military radar systems in Ukraine because of Kiev's bid to join NATO.

Yanukovich Party Blocks Parliament
Reuters Ukrainian opposition members prevented the parliament from meeting Friday, blocking access to the chamber with chairs to protest steps by the pro-Western government to join NATO.

Foreign Ministry Announces Latvian Diplomat's Expulsion
The Associated Press The Foreign Ministry said Friday that it would expel a Latvian diplomat in apparent retaliation for Latvia's expulsion of a Russian diplomat this week.

Rule of Law Put to Test in Kiev Mayor's Assault
The Associated Press Ukraine's new reform-minded government faces its first major test of its commitment to the rule of law -- as opposed to the law of the street -- with the country's police chief under investigation for allegedly assaulting the capital's mayor.

Protesters Clash With Riot Police in Ingushetia
Reuters Police have detained and beaten up two journalists who were covering a protest in the southern region of Ingushetia against alleged vote rigging, one of the reporters said Sunday.

FSB Thwarted WMD Spies
Reuters The Federal Security Service said Friday that it had foiled several attempts by foreign spies to obtain technology for weapons of mass destruction, RIA-Novosti reported.

House Razed in Construction Mix-Up
The Associated Press Returning home after an absence can mean unpleasant surprises -- a leaky roof, a pet's mess, even a break-in.

Riot Police Detain 27 Protesters
The Moscow Times OMON riot police on Friday detained 27 activists from the banned National Bolshevik Party who were protesting the results of last month's parliamentary elections, the group's spokesman said.

Signature Woes End Kasyanov's Bid
By Nabi Abdullaev / Staff Writer Former Prime Minister Mikhail Kasyanov, a vocal and charismatic critic of the Kremlin, has been barred from running for president by the Central Elections Commission, which said too many of the signatures on his nomination petitions were deemed invalid.

China's Regions Drained to Ensure a Lush Olympics
By Chris Buckley / Reuters Dusty villages far from China's capital are paying their own price for plans to stage a postcard-perfect Olympic Games, enduring shrunken crops, drained wells and contention over lost land and homes.

Plastic Bags an Issue for Green-Friendly Grocers
By Christine Kearney / Reuters Australia and China are phasing them out, Germany and Ireland tax them, but in the United States, the plastic bag is still king.

Temporary Iraqi Flag Causes a Flap
By Dean Yates / Reuters The Iraqi parliament's move to adopt a new, temporary national flag has provoked an outcry, with one city refusing to fly it and ordinary Iraqis attaching the old flag to their cars in a silent protest.

Italian Vote Likely After Government Collapse
Reuters Italy's political crisis enters a decisive week with a snap election and a return to power of Silvio Berlusconi's center right looking ever more likely after the collapse of Romano Prodi's government.

Annan Meets Kenyan Opposition Amid Killings
Reuters Ethnic clashes killed at least 10 people in Kenya's Rift Valley on Sunday as former UN chief Kofi Annan met opposition leader Raila Odinga to try to resolve a month-long crisis that has claimed 750 lives.

Indonesian Strongman Suharto Dies
By Telly Nathalia / Reuters Indonesia's former president Suharto, whose legacy of economic development was marred by graft and human rights abuses during his 32 years in power, died on Sunday, aged 86, after suffering multiple organ failure.

Egypt Moves to Seal Rafah
The Associated Press Egyptian forces moved to close their breached border with the Gaza Strip by stopping vehicle traffic Sunday and further tightening their security cordon around the small frontier town of Rafah in effort to contain Palestinians crossing freely into Egypt for the fifth day in a row.

Business

Good WTO News for Yushchenko
By Andrew McChesney / Staff Writer February is shaping up to be a big month for Ukraine, and President Viktor Yushchenko -- backed by a group of heavyweight allies in Davos -- said his country should emerge with flying colors.

Sberbank's Q3 Profit Rises 8% As Gref Plans Asian Expansion
Bloomberg Sberbank said Friday that profit rose 8.3 percent in the third quarter on higher lending revenue and announced plans to expand into China and India.

Tax Amnesty Sees Jump at Deadline
Bloomberg Russians paid 3.7 billion rubles ($150 million) in taxes last year as part of an amnesty on undeclared earnings, RIA-Novosti reported Friday.

EU Pledges to Speed Up Russia WTO Talks
Reuters The European Union will speed up talks with Russia to try to unblock Moscow's long-delayed bid to join the World Trade Organization, the EU's trade chief said Friday.

Tea Prices Set to Soar With India Ban
The Moscow Times Tea prices were expected to rise by as much as 30 percent after a ban on Indian plant products came into effect Monday, although special regulations may be introduced for tea and coffee imports.

Carlsberg Gets BBH in $15Bln S&N Deal
By Amy Wilson and Meera Bhatia / Bloomberg Carlsberg and Heineken agreed to buy Scottish & Newcastle for £7.8 billion ($15.4 billion) after a three-month battle that hinged on control of the British brewer's fast-growing Russian assets.

Georgian Court Seizes Imedi
Reuters A Tbilisi court has seized the television station and assets of multimillionaire Badri Patarkatsishvili, a court spokesman said Friday.

Ukrainian Gas Talks Called Off
Bloomberg Naftogaz Ukrainy, Ukraine's state energy company, cut short talks about natural gas sales and debt, said RosUkrEnergo, the country's exclusive supplier of the fuel.

Gazprom Gets 50% Stake in Austrian Hub
Bloomberg Gazprom will take a 50 percent stake in OMV's Central European gas hub in Austria, giving it greater access to the continent's customers.

Russneft Told to Pay $800M in Back Taxes
By Tai Adelaja / Staff Writer The Moscow District Federal Arbitration Court on Friday ordered beleaguered oil company Russneft to pay 20 billion rubles ($800 million) in back taxes.

NIS and South Stream Deals Sealed
By Anna Smolchenko / Staff Writer Dmitry Medvedev says the deals show that Russia and Serbia have achieved a ""brilliant breakthrough in our relations.""

U.S. Drug Firms Subpoenaed
Reuters New York Attorney General Andrew Cuomo has subpoenaed Merck and Schering-Plough for documents and information to see whether the companies hid results of a study on their cholesterol drug Vytorin.

Corporate Casanova Fired for 'Nonbusiness' Conduct
The Associated Press David Colby was one of corporate America's most admired executives before he was abruptly fired last spring for what was vaguely described at the time as misconduct of a ""nonbusiness nature.""

Striking Polish Customs Crews Bring Eastern Trade to Standstill
Reuters Polish customs officers will decide by Monday whether to end a strike that has paralyzed Poland's borders with its eastern neighbors, a trade union official said on Saturday.

SocGen Trader Gives Himself Up to Police
By James Mackenzie and Andrew Hurst / Reuters A junior trader blamed for causing a $7 billion loss at French bank Societe Generale has handed himself into the police and is cooperating with their investigation, a prosecution official said on Saturday.

China Battling Stunted Service Sector
By Alan Wheatley / Reuters When Chinese policy makers talk about rebalancing the economy toward consumption from exports and investment, they have people like Liu Yong in mind.

Sports

Russian Pair Skates to Win at Euro Champs
Reuters Russians Oksana Domnina and Maxim Shabalin were crowned European figure skating ice dance champions Friday after a perfect performance in the final of the event's three legs.

Always a Dissident

A Good Time to Be Afraid of the Bubbles
By Alexei Bayer In my bi-weekly Vedomosti columns, I've been expressing alarm about turbulence in global financial markets and the weakness of the U.S. dollar, with particular attention paid to what it could mean for the Russian economy.

Business in Brief
Regions Fund Needs CashWealth Fund Stakes CappedKazakh Transit Fees to RiseRenova Bond Sale Delay?Imperial's Reserves BoomUES May Offer DiscountsE.On to Set Up Russian UnitTvel's Non-Nuclear GrowthFor the Record

Davos' Impotence
By Dominique Moisi The annual World Economic Forum is rightly perceived as a global barometer. But the superb sunshine in Davos these days cannot avoid the shadows of the financial crisis that have enveloped the world, casting an atmosphere of gloom and doom on this year's meeting.

Restaurant News
By Nathan Toohey / Staff Writer Nedalny Vostok is celebrating its first birthday, and this Wednesday the pan-Asian restaurant is pulling out all the stops to ensure that the anniversary is a success.

Double-Decker Eclectic
By Nathan Toohey / Staff Writer Moscafe is the latest example of the flavor of the moment -- eclecticism. The new restaurant is the work of the restaurateurs responsible for the popular and inexpensive Soup, but the two really do not have much in common. Moscafe, with its interior a rich collage of various styles, is certainly more upmarket than the minimalist Soup.

Abusing a Dying Man's Legal Rights
No, he has not been sentenced to life in prison. In fact, he has not even been convicted of anything. He has AIDS and is not receiving proper treatment while awaiting trial in a detention facility on fraud and tax evasion charges.

Djokovic, Sharapova Slam Grand Wins
By John Pye / The Associated Press Novak Djokovic withstood a first-set barrage from Jo-Wilfried Tsonga, then powered his way to his first Grand Slam title at the Australian Open Sunday. A day earlier, Maria Sharapova capped off her dream run in this year's tournament to beat Ana Ivanovic in the women's final.

Market Matters

White-Knuckle Ride Tests Bouncing Bear Market
By Tim Wall / Staff Writer In last week's white-knuckle ride for investors, markets plummeted globally and Russia followed suit, testing the bear-market level of 20 percent in losses before bouncing back as traders went shopping for bargains.

« to older

Features

Services

Tools

MT news

Testimonials

Sponsored links

News

Business

Sports

Always a Dissident

Market Matters

Currency Exchange

Weather

Most Popular Stories.

Archive

Columnists