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

Medvedev Welcomes Hungary on Board
By Nikolaus von Twickel / Staff Writer On his first official visit to European capitals since being named the Kremlin's favored presidential successor, First Deputy Prime Minister Dmitry Medvedev was in Belgrade and Budapest on Monday, announcing Hungary's participation in the South Stream pipeline and pledging significant economic and political aid to Serbia.

Bogdanov Campaigns With Grandmother
By Nabi Abdullaev / Staff Writer The vodka had been flowing for about 30 minutes when Andrei Bogdanov poured another shot for the plump, elderly woman in a green beret.

N. Korea Holding Russians for Violation of Sea Borders
The Associated Press North Korean authorities are holding a Russian cargo ship and the 25 people aboard after it violated the isolated country's sea border, a Russian diplomat said.

G7 Citizens Give Russia Low Marks
The Moscow Times A majority of Group of Seven citizens consider President Vladimir Putin a ""negative influence on democracy and human rights in Russia,"" according to a poll conducted by the BBC World Service.

Putin Presents Medvedev to CIS Heads
Reuters President Vladimir Putin presented Dmitry Medvedev to fellow CIS leaders on Friday, just a week before a presidential vote Medvedev is expected to win.

Serbian Foreign Ministry Says Rossia Must Offer an Apology
The Moscow Times The Serbian Foreign Ministry has demanded that Rossia state television apologize after its news anchor said slain former Yugoslavian Prime Minister Zoran Djindjic ""got a well-deserved bullet"" for his pro-Western policies.

Ponomaryov Accused of Slandering Prison Chief
By David Nowak / Staff Writer A leading human rights activist, Lev Ponomaryov, said Monday that he had been charged with slander for calling the country's top prison official ""the author of a sadistic system of torture.""

Prague to Strike Deal to Host U.S. Radar in Days
By Karel Janicek / The Associated Press Czech Prime Minister Mirek Topolanek said Monday that he would conclude a deal on missile defense during talks this week in Washington.

Estonia's President Sounds the Alarm
By Nikolaus von Twickel / Staff Writer Estonian President Toomas Hendrik Ilves warned that Russia on the eve of its presidential election might be sliding into dictatorship, as Germany did in the 1920s.

Ireland Aims to Gobble Up Eurovision Prize
Reuters Ireland's rich musical tradition has acquired an unlikely ambassador for the 2008 Eurovision song contest: glove puppet Dustin the Turkey, known for his burps and thick Dublin accent.

Gaza Protests Mobilize Israelis
The Associated Press Israel deployed thousands of troops and police officers along the volatile border with the Gaza Strip on Monday, fearing a mass demonstration by the Hamas militant group against Israel's blockade of Gaza would turn violent and spill into Israel.

'Bulldozer' Promises Change in Korea
The Associated Press New South Korean President Lee Myung-bak took office Monday with a promise to boost prosperity not only in his own country but in North Korea as well, provided that the communist state abandons its nuclear weapons.

New Leader Seeks Unity in Cyprus
The Associated Press The decades-long division of Cyprus could be resolved by the end of the year, the leader of the breakaway Turkish Cypriots said Monday, a day after Greek Cypriots elected a new president.

Business

Moscow Tops New York, Paris With World's Costliest Hotels
The Moscow Times Moscow hotel prices grew by an average of 11 percent last year according to a recent survey, meaning that Moscow defends its title as the world's most expensive place for businesspeople and tourists to find a place to stay.

Consortium Ups Loan for Rosneft to $3Bln
By Denis Maternovsky and Greg Walters / Bloomberg Deutsche Bank and Calyon led banks providing $3 billion of loans for Rosneft, lured by near-record fuel prices and an expanding economy.

Japan Firm Buys Gazprom Emissions
Bloomberg Marubeni, a Japanese trading company, bought greenhouse-gas emission credits from Gazprom to capitalize on growing demand for the right to pollute air in Japan.

RusAl Starts Operating Nigeria Smelter
Bloomberg United Company RusAl, the world's largest producer of primary aluminum, has started operating the Alscon smelter in Nigeria, as it seeks to establish a full aluminum-production cycle in Africa.

Finland's Evli Bank Grows in Russia
Reuters Finland's Evli Bank said Monday it had agreed to buy a 49.9 percent stake in corporate financing firm Avanko to expand in Russia, where it expects mid-size companies to seek listings on the Nordic stock exchange OMX.

2007 FDI Doubles to $27.8Bln
Bloomberg Foreign direct investment in Russia doubled last year to $27.8 billion as the country's economic expansion fueled a consumer boom that weathered turbulence in global markets.

UTair Plans to Lease 20 Boeing 737s
By Lyubov Pronina / Bloomberg UTair, the country's fifth-largest airline, will lease 20 Boeing 737-500 planes by the end of 2009 to replace aging aircraft and boost capacity to meet the country's growing travel demand.

AvtoVAZ Exec Slain in Tolyatti
The Moscow Times Vyacheslav Shirshov, the chief purchasing officer at AvtoVAZ, the country's biggest carmaker, was murdered Thursday in his apartment building in Tolyatti, investigators said.

Turkmens, Germans Hold Gas Talks
The Associated Press Turkmenistan plans to intensify efforts to export its energy resources to Europe, the country's president told a high-level German delegation Monday.

Middlemen Blamed for Missing Gas
Reuters Ukrainian Prime Minister Yulia Tymoshenko on Friday rebuffed Russian accusations over huge missing gas volumes and blamed Moscow-imposed middlemen in a sign of new frictions over gas supply terms with Russia.

Slavneft Faces Back Taxes Demand
Combined Reports Tax authorities have presented oil firm Slavneft, controlled by Gazprom and BP's Russian venture TNK-BP, with $10 million in back tax claims.

MTS to Bid For Stake in Ukrtelecom
Bloomberg Mobile TeleSystems, the country's largest mobile-phone company, will bid for a stake in Ukrtelecom, Ukraine's national telephone company, in order to expand beyond the home market.

Between the Lines

Kosovar Robbers Gain the Upper Hand
By Alexei Pankin What is so special about Kosovo in comparison with other similar conflicts?""

Business in Brief
Putin Offers Rakhmon HelpRussia to Ship More CrudeSberbank Lending PracticesTGK-7 Begins Share OfferNorilsk Buyback ShelvedMoshkovich BIN Bank BuyNew Gazprom Supply DealGutseriyev Buys Azeri FieldsSeverstal to Invest $6BlnFor the Record

New 'Bully' May Help Move Yerevan Forward
By Arthur Martirosyan and Tom Samuelian Slogans say a lot about the recent presidential election campaign in Armenia.

At Home in Two Worlds
By Nataliya Vasilyeva / Special to The Moscow Times Bilingual children have unique opportunities but also face special challenges.

Chef's Secrets: Salad Olivye With Quail
A recipe from Yar's head chef Matthew Cooper.

Kvartira 44, Version 2.0
By Nathan Toohey / Staff Writer Fans of bohemian cafes will be happy to hear that one of Moscow's favorite arty eateries, Kvartira 44, has now become a chain with the opening of a second branch.

Potemkin Innovative Army
By Alexander Golts When I listened to a televised report of President Vladimir Putin's visit Wednesday to the Gromov Flight Research Institute, Russia's main flight-test center in the Moscow region, I couldn't believe what I was hearing.

News in Brief
4 Die in Night Club FireHunger Strike in BelarusJournalist Released in MinskPatarkatsishvili to Go HomeSt. Pete University ReopensAmber Room Unlikely

Krasnodar Approves $6Bln Isle
Bloomberg The Krasnodar regional government approved the construction of a 155 billion ruble ($6.3 billion) artificial island off the coast of the Black Sea resort of Sochi, according to a statement released last week.

Plans Announced for Cherkizovsky Site
The Moscow Times The sprawling Cherkizovsky market in northeast Moscow will be replaced by a trade and entertainment complex, the city said last week, Interfax reported.

Real Estate Leaders Share IPO Options
By John Wendle / Staff Writer The sleek flat-screen television at the Ritz-Carlton was ringed by a classical gilt frame so ornate it looked like broccoli clusters had been spray-painted gold and glued around the edges.

Apartment Prices Jump 9% in 2008
The Moscow Times Moscow apartment prices are continuing to break records, with the average price per square meter jumping more than 9 percent since New Year's, according to data released Monday.

Becar Planning Huge Business Center
By Yekaterina Dranitsyna / Staff Writer Becar Realty Group has acquired unfinished production facilities in the Nevsky district, which the company plans to reconstruct over the next seven years before opening the largest B-class business center in the city.

Community Bulletin Board

Community Bulletin Board
Community Bulletin Board

Putin's Legacy

Chechnya Vow Cast a Long Shadow
By Simon Saradzhyan / Staff Writer Vladimir Putin made what seemed to be an implausible promise in August 1999. The newly appointed prime minister said he could end a crisis caused by the incursion of 2,000 rebels from Chechnya into Dagestan in ""a week and a half or two weeks.""

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