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

Globe-Trotting Putin Landed in 64 Countries
By Anna Smolchenko / Staff Writer President Vladimir Putin's visit to Bulgaria was notable in many ways -- a multibillion-dollar pipeline deal, a chance to cement ties with an East European ally, and an opportunity to let Dmitry Medvedev shine in his first trip abroad since winning Putin's blessing as the next president.

A Polish Town Fears Russian Retaliation
By Ryan Lucas / The Associated Press Beyond the barbed wire and camouflaged hangars that once housed Soviet-made fighter jets, some see hope for a small airport and a brighter tomorrow. But the future may hold a different twist -- and has many locals fearful of Russian retaliation.

Poland Reconsiders Position on Partnership
By Vladimir Isachenkov / The Associated Press Poland's foreign minister signaled on Monday that Warsaw could soon unblock Russia-EU partnership talks and pledged to consult with Moscow about elements of a missile defense system the United States wants to install in Poland.

Moscow a Finalist for Youth Games
The Associated Press Moscow and Singapore are the finalists in the bidding for the inaugural Summer Youth Olympics in 2010.

Rare Amur Tiger Dies After Bus Accident
MT, Reuters A rare Amur tiger was put down after being hit by a bus in the Far East, RIA-Novosti reported Monday.

Rotating Putin-Medvedev Presidency
Reuters President Vladimir Putin and his favored successor, Dmitry Medvedev, could take turns running the country for another quarter of a century, Federation Council Speaker Sergei Mironov said in an interview published Monday.

Medvedev Collected $71,000, Has No Car
Reuters, Bloomberg The country's likely future president, Dmitry Medvedev, does not have a car of his own and the only family transport is his wife's nine-year-old Volkswagen Golf, an official income declaration showed Monday.

Kasyanov Petition Called Into Doubt
Reuters Former Prime Minister Mikhail Kasyanov could be barred from running in the March 2 presidential election because of problems with a petition he submitted in support of his bid, election officials said Monday.

Britain Downplays Expulsions While Keeping Options Open
By David Nowak / Staff Writer British sources confirmed on Monday that London is currently unlikely to expel any diplomats in reply to Federal Security Service harassment of British Council staff in Russia, but would not rule out such a move in the future.

Putin Friend Tapped for Image Post
By Natalya Krainova / Staff Writer A press center aimed at improving Russia's image abroad is set to open in central Moscow next month and could be overseen by a friend and judo partner of President Vladimir Putin.

Medvedev Campaign Made Official
By Francesca Mereu / Staff Writer The Central Elections Commission on Monday registered First Deputy Prime Minister Dmitry Medvedev as a candidate in the March 2 presidential election, allowing the man backed by President Vladimir Putin to begin formally organizing his campaign.

Serb Leader Warns of Isolation
The Associated Press Serbia's pro-Western president, who faces a strong ultranationalist challenge in a runoff vote, said Monday that the Balkan nation had a stark choice -- move closer to the European Union, or back to isolation.

New Draft Sanctions Due for Iran
Reuters, AP Foreign ministers of several world powers should agree on a new draft sanctions resolution against Iran at a meeting in Germany on Jan. 22, a French diplomatic source said Monday.

Business

'Massacre' Pushes RTS Under 2,000
By Catrina Stewart / Staff Writer The markets shed more than 7 percent in their worst day in 18 months, amid deepening fears of a U.S. recession.

Finns Call for Another Route Study
Reuters Finland insists the Gazprom-led Nord Stream consortium conduct a thorough environmental impact study of an alternative, southern route for its planned gas pipeline under the Baltic Sea, the country's environment ministry said Monday.

RZD Wins Saudi Railway Contract
Bloomberg, MT Russian Railways has won an $800 million contract in Saudi Arabia to lay new track that includes 20 camel crossings, the state-run company said in a statement Monday.

Imperial Energy Plans Higher Capex to Meet Output Targets
Reuters Imperial Energy will increase its $600 million capital investment plan for the next three years in order to meet a new production target of 80,000 barrels per day by 2011, its chairman said Monday.

Tsarist Art Heirs Ask for Payout
Bloomberg The heirs of the greatest tsarist-era art collectors, Sergei Shchukin and Ivan Morozov, have called for compensation from the Russian government to redress the 1918 confiscation of their ancestors' artworks.

Hypermarkets Boost Sedmoi Sales
By Tai Adelaja / Staff Writer The supermarket chain says gross retail sales rose 32 percent last year on higher consumer demand.

French, LUKoil Seen in Power Bid
Reuters Gaz de France is in talks with LUKoil to jointly bid for control of power generator TGK-10, sources close to the regional generating company's planned share issue said Monday.

Yushchenko Opposes Calls for Higher Gas Transit Fee
Reuters Ukrainian President Viktor Yushchenko opposed calls to charge Russia more to pipe gas across the country to Europe, saying this would lead to a rise in the price Ukraine pays for imported gas for domestic use.

Kudrin Eyes $14Bln for Wage Hikes
Reuters The government may use 343 billion rubles ($14.1 billion) in extra 2008 revenues and savings to raise pensions and public sector wages, Finance Minister Alexei Kudrin was quoted as telling a Cabinet meeting on Monday.

Singapore Invests in Moscow Region
By Max Delany / Staff Writer The Singapore government's real estate investment fund on Monday announced it was taking the plunge into the Russian market, putting $233 million into a project with leading developer PIK Group to build a self-contained neighborhood in the Moscow region.

Britain Offers India Its Support on Nuclear Technology Waiver
Reuters Britain said Monday that it supported granting a waiver to India from a 45-nation group which polices exports of nuclear technology, a key step in finalizing a nuclear energy deal with the United States.

Israel to Ease Up on Gaza Blockade
The Associated Press Israel decided Monday to ease a blockade of Gaza imposed in retaliation for rocket attacks, saying it will allow some food and fuel for one day. Israel's announcement follows a UN warning that international food aid to the impoverished territory may be suspended by the weekend.

City Wise

An Extreme Winter Sport
By Maria Antonova / Staff Writer Bicycle enthusiasts ride on through winter temperatures and traffic jams.

Business in Brief

Business in Brief
Eurocement to Invest $8BlnTurkey's Gas Supply SecureGolden Sees Sales of $3BlnTelecom Firms MergerRuukki Group Faces DelayUralSib Profit Tumbles 78%Novolipetsk Earnings UpNovolipetsk's Steel DownMagnezit Buys SlovmagAluminum Seen FallingRussia, Heat Drive SalesKnight's Head Steps DownNew RusAl Legal Chief

Shrunken, Proud and Awkward
By Robert Skidelsky The greatest disappointment of the post-communist era has been the failure of the West -- particularly Europe -- to build a successful relationship with Russia. Most policymakers and experts expected that, after an inevitably troublesome period of transition, Moscow would join the United States and Europe in a strategic and economic partnership, based on shared interests and values. The pace of change might be doubtful, but not its direction.

Medvedev's Regional Policy
By Nikolai Petrov First Deputy Prime Minister Dmitry Medvedev left Moscow in early January to tour a few regions. He is traveling more as President Vladimir Putin's de facto successor than as a presidential candidate. Medvedev is using his trip to inspect the major projects that are located in the regions and to establish contact with the local political elite.

A New Opportunity to Make Cuba More Open
Financial Times Cubans did not enjoy genuine democratic freedoms when they voted in Sunday's legislative elections, for which 614 candidates -- all members of the ruling Communist Party -- contested 614 seats.

U Shveika Reinvented
By Nathan Toohey / Staff Writer Just over 10 years ago, Moscow saw the opening of Europe's then-largest mall, the Okhotny Ryad shopping center, which brought a new level of glitz to the city's nascent mall developments. Along with its gaudy gold trim and fancy decor, the Manezh also introduced the capital's first food court and, located just next to it, a slick new Czech beer restaurant -- U Shveika.

Beef Baked With Cheese, Onion and Tomato
A recipe from Homemadecafe's head chef Sergei Poletayev.

News in Brief
Latvia to Expel DiplomatBus Driver Sold HeroinGerman CarjackedGerman Robbed in AstanaSend in the Clowns

Year of Huge Demand and Insufficient Supply
By John Wendle / Staff Writer In many ways, Moscow's real estate market resembles a rich teenager with a messy room, a few personal problems and not a lot of discipline. The teenager's parents are high oil and gas prices -- which continue to fuel Moscow's explosive growth for a fifth year in a row -- and there is no reason to think that 2008 will be any different.

Taking a Chance in Belarus' Real Estate Market
By Matthew Brunwasser / INTERNATIONAL HERALD TRIBUNE Belarus is the last centrally planned economy in Europe, but a small and hearty group of Western investors are starting to probe the country, seeing it as the last all-but-untouched real estate market in Europe.

The Cost of Believing in America
By Konstantin Sonin Ten years ago, an economic crisis in one developing country could set off a chain reaction among investors around the world. And once investors suffered sharp losses in one place -- for example, Thailand, South Korea or Indonesia -- they began rolling back everywhere. This time around, the scenario is playing out differently. Although the financial markets crisis that began last year has not yet reached the point where investors are pulling out of developing markets, money continues to flow freely in the opposite direction as the world's financial giants tap into government funds from former Third World countries.

Community Bulletin Board

Community Bulletin Board
How to Submit Items Community Bulletin Board is published every Tuesday. Please submit notices of up to 40 words by noon Thursday. E-mail community@imedia.ru , call +7 (495) 234-3223 or fax +7 (495) 232-6529. IWC announces its annual charitable Embassy Dinner and Ball on 9 February. On the occasion of the IWC's 30th anniversary the Ball will held at Tsaritsyno Palace For tickets or more information, please e-mail Eva Beke at evabeke1@gmail.com CANADIAN CHARITY AUCTION with hockey legend Vladislav Tretiak, Jan. 24 at 7 p.m., Baltschug Kempinski Hotel. Admission donation 2,500 rubles. Auction and raffle include: Dinner with Tretiak, Canadian furs, airline tickets, Kremlin palace excursion, luxurious hotels. Register at www.cerbanet.org or elena@cerbanet.org . THE ICL HELP LINE is a free, confidential, professional phone counseling service. Experience in counseling on relational and personal issues, tough emotional experiences, careers and psychotherapy. English, Russian, French, Polish. 8-926-113-3373, 8 a.m.

« to older

Features

Services

Tools

MT news

Testimonials

Sponsored links

News

Business

City Wise

Business in Brief

Community Bulletin Board

Currency Exchange

Weather

Hurdles Ahead.

Most Popular Stories.

Archive

Columnists