The Moscow Times

Market Matters: As Conflict Ends, Markets on Road to Recovery
After tumbling to its lowest point in almost two years on Tuesday, Russia's MICEX Index began to slowly claw its way back over the rest of the week, suggesting a possible end to the volatility that has plagued the country's markets since tensions erupted between Russia and Georgia on Aug. 8.

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Business in Brief
Inflation May Exceed 12%$16Bln for St. Pete MetroCar Imports to Rise by 43%Gazprom Ads Push Tower8% Increase in TNP FeesAlrosa Wins Angola PermitUkraine Gas Pipe RepairedBlavatnik's Comstar StakeUralkhim Seeks 2008 IPOBank Profit Nearly DoubledRussia Sees WTO in Q3

Tomskneft Split Seen in Cards
Reuters Rosneft will split its Tomskneft oil unit 50-50 with Gazprom, boosting the oil business of the gas behemoth, sources close to the deal said. The deal will end a guessing game over the real owners of the 240,000-barrel-per-day oil unit. Rosneft had said it sold half of Tomskneft in July after buying the unit in May at a Yukos bankruptcy auction.

2-Year Ban on Meat From Poland Ended
AP, MT Russian and Polish authorities signed a memorandum Wednesday to end a two-year ban on exports of Polish meat to Russia, an Agriculture Ministry spokesman said, which could pave the way for closer ties between Moscow and the European Union.

Surgutneftegaz Elects New Chairman
Reuters Closely held oil firm Surgutneftegaz has elected a career oil manager, Vladimir Yerokhin, as its new chairman after the previous head of the board of directors, Nikolai Zakharchenko, resigned for health reasons.

State-Backed Agency Charged With Spinning Russia's Image
Reuters, MT An agency within the state-owned Development Bank will counter the flow of negative political news out of the country and lure foreign investors with positive information, the Economic Development and Trade Ministry said Wednesday.

Mordashov, Finns to Build Timber Mills
Bloomberg, Reuters The world's top magazine papermaker, UPM-Kymmene, agreed Wednesday to form a 50-50 joint venture with Sveza to invest more than 1 billion euros ($1.4 billion).

Art Loan to London Exhibit in Doubt
The Associated Press A federal cultural agency has canceled a major exhibition of French and Russian paintings set to open in London in January, fearing the art could be seized to settle private legal claims, a museum official said Wednesday.

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