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

Institute to Delve Into U.S. Democracy
By Alexander Osipovich / Staff Writer The Moscow-based foundation also plans to monitor human rights.

British Council to Open in St. Pete
By Nikolaus von Twickel / Staff Writer Just as it has every January for the past 13 years, the British Council in St. Petersburg was to start the new year with a normal working day Monday.

Ukrainian Gets Life for U.S. Kidnappings
The Associated Press A Ukrainian man convicted in a kidnapping scheme that resulted in the deaths of five people who were dumped in a Northern California reservoir was sentenced to life in prison.

Chechens Blamed for Violence, Rape
The Associated Press Austrian right-wing politician Joerg Haider called on Saturday for an immediate moratorium on granting asylum to immigrants from Chechnya, blaming some already in the alpine country for violence and sex crimes.

Beslan Group is Called Extremist
By Svetlana Osadchuk / Staff Writer A court on Monday is to review a prosecutor's request that a group of Beslan survivors and their relatives be outlawed as extremist.

Georgians Back NATO Membership
The Associated Press More than 70 percent of Georgians who took part in a nationwide referendum said they wanted the country to join NATO, according to results released Friday.

Thousands Demand Vote Recount at Tbilisi Rally
By Misha Dzhindzhikhashvili / The Associated Press Tens of thousands of opposition supporters rallied Sunday across Tbilisi to protest what they denounced as massive vote fraud that helped Mikheil Saakashvili win a second presidential term.

In Murmansk, Medvedev Touts Navy
Combined Reports Dmitry Medvedev, President Vladimir Putin's likely successor, said Friday that Russia must restore its sea power, saying the Soviet Union's naval might commanded respect.

Swiss Drop Adamova Charges
Reuters A money-laundering investigation against the daughter of former Nuclear Power Minister Yevgeny Adamov has been dropped, Swiss prosecutors said Friday.

New Biometric Passports With Empty Chips Issued
By Svetlana Osadchuk / Staff Writer The first biometric passports for Russians traveling abroad will be issued this month as Russia joins the world community in its efforts to fight terrorism, the Federal Migration Service said Friday.

U.S. Audit Says Aid for Scientists Misspent
By H. Josef Hebert / The Associated Press A U.S. economic aid program to keep Russian scientists from selling weapons information to terrorists apparently funneled much of the money to researchers who never claimed to have a background in nuclear, chemical or biological programs, a congressional report said Friday.

Duma Kicks Off With Flurry of Bills
By Natalya Krainova / Staff Writer It was clear from the start of the session what would occupy most of the time for State Duma deputies Friday as they returned from their long holiday recess.

Intelligence Chief Waffles on Waterboarding
The Associated Press The U.S. intelligence chief says waterboarding ""would be torture"" if used against him or if someone under interrogation actually was taking water into his lungs.

Everest Conqueror Dies at 88
The Associated Press Sir Edmund Hillary, the first person to stand atop the world's highest mountain, was remembered as a deeply driven but unassuming man who strived to help Nepal's people in the decades after his ascent of Mount Everest.

Iraq to Allow Baathists Back Into Government
The Associated Press Iraq's parliament passed a benchmark law allowing lower-ranking former members of Saddam Hussein's Baath party to reclaim government jobs, the first major piece of U.S.-backed legislation it has adopted.

President of Interpol Steps Down
The Associated Press The president of Interpol, Jackie Selebi, mired in a corruption scandal in his native South Africa, has resigned ""out of respect"" for the international police organization, an Interpol statement said Sunday.

Bush's Trip Aimed at Isolating Iran
Reuters U.S. President George W. Bush pursued efforts to isolate Iran among its neighbors Sunday, urging them to help stop Tehran from threatening security.

Reactors Planned for Emirates
Reuters French President Nicolas Sarkozy confirmed on Sunday plans to sign a nuclear cooperation agreement with the United Arab Emirates amid reports that French firms could construct up to two nuclear reactors there.

Business

LUKoil Expects 2007 Profit of $8Bln
The Associated Press LUKoil expects to record a 2007 profit of about $8 billion, president Vagit Alekperov said Saturday.

Demand for Power Falls Short of Forecasts
Reuters National power consumption grew 2.3 percent last year compared with 2006, Unified Energy System said Friday, but the figure fell short of the state's long-term forecast of about 5 percent annual growth.

Ukrainians Rush to Get Back Savings
The Associated Press Thousands of Ukrainians streamed to state bank offices Friday to get compensation for savings lost in the 1991 Soviet breakup -- a promise of new Prime Minister Yulia Tymoshenko that some analysts caution could hurt the economy.

S&N Mulls Triggering Shotgun Clause
By David Jones / Reuters Scottish & Newcastle could this week trigger a ""shotgun"" clause attached to its valuable Russia-based brewing venture in a last-gasp move to fight off a bid from Carlsberg and Heineken or extract an even higher price, analysts said.

BoNY Sends Lawyer to $23Bln Trial
By Anatoly Medetsky / Staff Writer A legal representative for Bank of New York Mellon will appear for the first time in court to defend the bank against allegations as a $22.5 billion money-laundering case resumes Monday.

Business in Brief

Business in Brief
Initial Pipeline Deal SignedGazprom Neft InvestigatedGazprom to Enter IrelandBelarus to Raise Transit FeeRosneft Seeking $2BlnCaptial Inflow $82.3BlnNovember Trade Surplus UpToyota Adds Low-End LineBelarussian Protesters GuiltyAnheuser-Busch Offers HelpExxon Wants to LeadKashagan MeetingSotheby's, Christie's RecordFor the Record:

Lost Generation Now Found
By John Wendle / Staff Writer After dealing with the problems that followed the Soviet Union's fall, Karina Dashko is now back in the corporate saddle.

Restaurant News
By Nathan Toohey / Staff Writer The Japanese-Russian cafe Kurily has just introduced two new draft beers, both appropriate for the colder months of the year. The new dark brews are Paulaner Dunkel, an unfiltered wheat beer, and Beamish Irish Stout.

A Hype-Free Hideaway
By Jennifer Chater / Staff Writer An obscure lane about halfway between Hermitage Garden and Tsvetnoi Bulvar isn't what realtors have in mind when they crow ""location, location, location!""

Russia's Succession Minefield
By Alexei Bayer On Moscow's Romanov Pereulok stands a handsome apartment building dating from the turn of the 20th century. Its facade is festooned with memorial plaques bearing dozens of names of illustrious former tenants, including Semyon Budyonny, a Red Cavalry commander in the Russian Civil War, and Alexei Kosygin, a Soviet prime minister.

News in Brief
Kasyanov Aides DetainedVeshnyakov Named EnvoyYushchenko's PoisoningOil Spill Threatens to SpreadSenior Police Officer KilledEmergency LandingEnvoy Hopeful on KosovoRussian Orthodox FearsFor the Record

Market Matters

With the Bosses Away, Investors Still Play
By Catrina Stewart / Staff Writer It's a slow start to the year when half the country is still on vacation. Two weeks after the ushering in of a new year, there is still a skeleton staff at many Moscow investment banks. The bosses are away, the traders are silent, and the phones barely ringing.

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