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Oil Firm, Refiner in $2.5Bln Merger
By Anatoly Medetsky / Staff Writer As oil producers seek higher margins in refining, West Siberian Resources hooks up with Alliance Oil. Oil producer West Siberian Resources on Tuesday agreed to merge with Russian refiner Alliance Oil to create a $2.5 billion company where the majority interest will belong to Alliance's Kremlin-friendly owners.

Coca-Cola Bows to Believers
By Catrina Stewart / Staff Writer Coca-Cola has called off a promotion after offended Orthodox believers lodged a complaint with prosecutors, a sharp reminder of the cultural pitfalls that foreign companies face when doing business abroad. Hoping to tap into a growing tide of patriotism, the U.S. beverage giant had placed pictures of religious sites together with its logo on fridges in kiosks and shops in Nizhny Novgorod, the country's third-biggest city.

A Sequel Breaks All Film Records
By Alexander Osipovich / Staff Writer The sequel to a classic Soviet melodrama has set a new record for the Russian box office, fueled by older viewers making their first trip to a movie theater in years.. ""Irony of Fate: Continuation"" grossed $48.5 million in the former Soviet Union in the first 23 days of its release, Maria Lein, a spokeswoman for Channel One television, which produced the film, said by telephone Tuesday.

Bush Calls Saakashvili the Victor
Reuters U.S. President George W. Bush has congratulated Georgian leader Mikheil Saakashvili for winning a presidential election that the opposition has said was rigged.

Police Kill 4 Suspects in Grozny
The Associated Press Heavily armed police attacked a home in Grozny early Tuesday, killing four suspected militants, including the alleged leader of a rebel group, law enforcement authorities said.

Polish President Warns About Russia Policy
By Monika Scislowska / The Associated Press Polish President Lech Kaczynski on Tuesday criticized the government that took over from one led by his brother, saying its policy to improve ties with Russia could prove dangerous.

Georgians Celebrate and Protest at a Rally
By Misha Dzhindzhikhashvili / The Associated Press Tens of thousands of people demonstrated on Tuesday in Georgia's capital, pressing for a presidential runoff but celebrating an agreement giving government opponents more control over the main state-funded television station.

Imperial Sinks As Owner Sells Shares
The Moscow Times Shares of Imperial Energy, a London-based company that explores for oil in Russia, dived 9.1 percent on Tuesday after ABN Amro Holding said it was selling 1.5 million shares in the company.

Slovenia Hopes to Mend Ties Between EU, Russia
By Nikolaus von Twickel / Staff Writer Slovenia on Tuesday offered an optimistic outlook on the troubled relations between the European Union and Russia.

Bukovsky Loses His Bid to Run for President
Reuters Former Soviet dissident Vladimir Bukovsky lost his final hope of running for president on Tuesday when the Supreme Court dismissed his appeal against the refusal of his candidacy.

Youth Guard Activist Quits in Protest
The Moscow Times In a rare display of disunity, a senior Young Guard activist has quit the pro-Kremlin youth movement, accusing it of ""populism,"" imposing ""authoritarian ideals"" and ""imitating real political activities.""

Medvedev's Strength Is Putin: Poll
The Moscow Times Presidential hopeful Dmitry Medvedev has a long way to go to be viewed as an independent politician, with many Russians saying his authority is due to his closeness to President Vladimir Putin rather than his own skills and accomplishments, according to a new survey.

Britain Promises a Quick Response
MT, AP The foreign secretary also warns that Moscow's decision to increase pressure on the British Council will only make matters worse.

Zubkov Talks Tough After Blasts
The Associated Press Prime Minister Viktor Zubkov expressed concern Tuesday over a series of gas explosions that killed 15 people in apartment buildings in less than a week, demanding that authorities closely examine the causes and improve safety.

Citigroup Posts Huge Quarterly Loss
Reuters Citigroup said Tuesday that a huge write-down for mortgages triggered a nearly $10 billion quarterly loss, about twice analysts' estimates, and that it was raising $14.5 billion, slashing its dividend and cutting 4,200 jobs.

France to Have Military Base in Emirates
The Associated Press France will set up a permanent military base of up to 500 troops in the United Arab Emirates, the French government said Tuesday during a visit there by President Nicolas Sarkozy.

Kenyan Election Standoff Enters Parliament
By Wangui Kanina, Andrew Cawthorne / Reuters Kenya's new government and opposition clashed in the parliament for the first time on Tuesday in a bad-tempered session reflecting deep bitterness over the disputed re-election of President Mwai Kibaki.

19 Dead in Israeli Raid Into Gaza
The Associated Press Israeli troops killed the son of Gaza's most powerful leader along with 18 other Palestinians on Tuesday in the worst day of fighting in the area since Hamas militants seized control there last summer.

Bush Uses Saudi Visit to Ask for Oil
By Anne Gearan, Terence Hunt / The Associated Press U.S. President George W. Bush urged OPEC nations on Tuesday to put more oil on the world market and warned that soaring prices could cause an economic slowdown in the United States. ""High energy prices can damage consuming economies,"" the president told a small group of reporters traveling with him in the Middle East.

Business

Turkmenistan's Gas Cuts Called 'Immoral' by Iran
Reuters An Iranian official said Turkmenistan was ""immoral"" for halting gas exports to Iran in the depths of an unusually cold winter in its bid to change the terms of a supply contract, Iranian state radio reported Tuesday.

Novatek Eyes Loan of $1Bln
Reuters Novatek plans to raise up to $1 billion via a syndicated loan to fund organic growth and acquisitions, a banking source said Tuesday. Novatek, the country's largest independent gas producer, has paid off almost all its debts in the past few years. The loan would be its largest to date.

$6Bln Contract on Putin's Bulgaria Trip
By Veselin Toshkov / The Associated Press Bulgaria and Russia will sign a nearly 4 billion euro ($5.95 billion) contract this week to build a nuclear plant in northern Bulgaria, a Bulgarian official said Tuesday.

Anheuser-Busch Keeps Mum on Baltika Bid
Reuters U.S. brewer Anheuser-Busch has declined to say whether it plans to bid for a minority stake in Baltic Beverages Holdings, the brewer jointly owned by Britain's Scottish & Newcastle and Denmark's Carlsberg.

Khodorkovsky's Lawyer Complains
The Associated Press A lawyer for oil tycoon Mikhail Khodorkovsky complained Tuesday that authorities had not announced a date or place for his next trial.

Putin Says Inflation Can Be Harnessed
The Associated Press The government needs to do more to deal with inflation, which soared to 11.9 percent last year and could exceed government forecasts of 8 percent this year, President Vladimir Putin said Tuesday.

Sistema Wins India Telecoms License
By Tai Adelaja / Staff Writer The Russian company plans to invest billions of dollars in India's fast-growing mobile phone market.

City Wise

Fashions to Fit a Larger Bust
By Maria Antonova / Special to The Moscow Times Located on a side street near Tsvetnoi Bulvar, the DD Shop showroom seems like a conspiratorial flat. Inside, two rooms showcase clothing modeled especially for women with a bra size of C or larger. Opened in November, DD Shop makes mostly blouses and dresses, with the occasional blazer.

Cutting Out The Stress
By James Marson / Staff Writer A new style of hairdressing salon tailored to the needs of children and families hits Moscow.

Business in Brief

Business in Brief
Chevy Overtakes FordFinland Sees Gas InvestmentGazprom to Buy Uzbek GasTatneft, Turkmens AccordLUKoil to Sell Half SoveksSkyscraper Evokes OutcrySUEK to Lift Sales in PolandSamsung Heavy Wins OrderSeverstal Buys Pipe MakerUES Puts Retailer ForwardPalmary Takes ConsolidatedBNP Paribas' St. Pete OfficeTrade Surplus Falls 9.5%UBS Predicts Ruble IncreaseMagnit Head Opposes LawX5 Venture Buys ChainRusAl's $4.6Bln DividendVekselberg Earns $657.5M

Bush Should Borrow a Page From Kennan
There was once a time when the phrase ""quiet diplomacy"" was redundant. In terms of how the United States has come to conduct its foreign policy of late, the phrase has become oxymoronic.

Escape to the Tropics
By Nathan Toohey / Staff Writer The democratic seafood restaurant File may have gone under, but a similarly sea-themed restaurant has opened in its place -- Caribius. If the thought of marked-down seafood so far from the coast failed to attract a crowd, then perhaps this new tropical island theme might prove more popular, especially among sun-starved Muscovites in the middle of winter.

Ask The Chief
By James Marson / Special to The Moscow Times Andrei Nikitin is the chef at the Conservatory Lounge & Bar in the Ararat Park Hyatt Hotel.

The 16th Assassination Attempt
We are seeing something close to a revolt in the streets of Makhachkala, the capital of Dagestan. This is the first display of public disorder after a series of electricity blackouts in the city. Protesters blocked off streets and gathered in spontaneous demonstrations.

Well-Placed to Weather an Economic Storm
Next week's annual meeting of the World Economic Forum in Davos will open under more than just the usual degree of uncertainty about the direction of world affairs. The U.S. economy is teetering on the brink of a recession whose global reach is unknown. Political factors further complicate making an assessment of how the world will cope with what is likely to be a challenging 2008. Can Russia detach itself from the spreading gloom?

News in Brief
Putin's Last Press ConferencePolitkovskaya HonoredVoice of Beslan Case MovedNovosibirsk Reporters Sued

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