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

'Not Free, Not Fair, But Accurate All the Same'
By Nabi Abdullaev and Francesca Mereu / Staff Writers Sunday's presidential election was neither free nor fair, though the victory of Kremlin-backed candidate Dmitry Medvedev largely reflected the will of the voters, European and independent Russian election monitors said Monday.

Gazprom Cuts Flow of Gas to Ukraine
By Anatoly Medetsky / Staff Writer Ukraine said it had more than one-third of its gas imports cut off Monday after Gazprom reduced deliveries by a larger amount than it had threatened in a debt dispute.

Medvedev to Oversee Foreign Policy
By Alexander Osipovich / Staff Writer Dmitry Medvedev said Monday that he would oversee foreign policy as president and that he would work closely with his future prime minister, Vladimir Putin, to form the next government.

Bolshoi Theater Picks New Artistic Director
By Raymond Stults / Special to The Moscow Times Ending months of speculation, the Bolshoi Theater on Monday announced that Yury Burlaka would replace Alexei Ratmansky as artistic director of its ballet troupe.

Dissident Troupe Plays for London
By Alastair Sharp / Reuters Life in Belarus can test the creativity of nonconformists in the arts.

Dozens of Opposition Activists Detained
By David Nowak / Staff Writer Riot police roughly detained dozens of protesters, including Union of Right Forces leader Nikita Belykh, in central Moscow on Monday evening, quashing an opposition march that City Hall had refused to authorize.

Frenkel Goes on Trial in Kozlov's Murder
The Moscow Times Alexei Frenkel, the banker accused of organizing the murder of Central Bank first deputy chairman Andrei Kozlov, pleaded not guilty on Monday, labeling the charges as ""slander.""

Jailed Mayor Resigns
The Moscow Times Jailed Arkhangelsk Mayor Alexander Donskoi, who is awaiting trial on charges of abuse of office, has resigned.

Nashi March Snarls Moscow Traffic
By Svetlana Osadchuk and John Wendle / Staff Writers Moscow authorities have repeatedly refused to authorize opposition marches on the grounds that they would snarl traffic and inconvenience people.

Medvedev Loses to Duma in Caucasus
By Nikolaus von Twickel / Staff Writer The Kremlin's candidate might have been pleased with Sunday's presidential election results, but the performance in getting out the vote in the North Caucasus was clearly poor by local standards.

Serbia Seizes Rail Link in Kosovo
The Associated Press Serbia has reclaimed control of a 50-kilometer stretch of rail line in northern Kosovo, a senior official said Monday, in defiance of the new state's government.

Over 100 Firms Vie for Iraqi Oil Fields
Reuters More than 100 companies including foreign majors are vying for deals to tap Iraq's vast oil fields, but a vital oil law is stalled by tension involving the country's Kurdish region, the Iraqi oil minister said.

$5.8Bln Merger Will Create World's No. 2 Zinc Producer
The Associated Press Australian miner Oxiana has agreed to buy sector rival Zinifex in a share swap worth 6.2 billion Australian dollars ($5.8 billion), the two companies said Monday, to create the world's second-largest producer of zinc.

HSBC Posts 10% Rise in Profit
Reuters HSBC's profits rose 10 percent last year as strong gains in Asia helped Europe's biggest bank absorb a $17.2 billion hit for bad debts largely due to U.S. housing problems.

Hamas Claims Victory as Israel Exits
By Nidal al-Mughrabi / Reuters Israeli troops pulled out of the Gaza Strip on Monday after a U.S. appeal to rescue peace talks and end days of fighting that have killed more than 100 Palestinians.

Prince Harry Hopes to Return to Combat
By David Stringer / The Associated Press Prince Harry, home from his abandoned military mission to Afghanistan, says he hopes to return to combat zones as soon as possible.

Clinton, Obama Court Voters in Ohio
By Ellen Wulfhorst and Caren Bohan / Reuters U.S. presidential candidates Hillary Clinton and Barack Obama waged a tight campaign fight across Ohio on the eve of crucial voting that could virtually nail down the Democratic nomination or prolong the party battle into the spring.

McCain Caught in a Dilemma
Reuters Republican presidential candidate John McCain has a big decision ahead of him -- picking a vice presidential running mate whose presence on the ticket would reassure Americans concerned about his age.

Business

Usmanov Seen Buying Into Norilsk
Reuters Billionaire Alisher Usmanov's iron and steel firm, Metalloinvest, has bought 3 percent to 4 percent of the shares in metals giant Norilsk Nickel in an early merger move, Kommersant reported Monday.

Sakhalin-2 Drops Fund Requests
Bloomberg Gazprom's Sakhalin-2 oil and gas venture with Royal Dutch Shell withdrew an application for funding from U.S. and British government-sponsored lenders because of delays in getting financing approval

Finland's Ruukki Falls on Kostroma Failure
Combined Reports Ruukki Group, a Finnish investor in the forestry industry, plummeted the most in more than four years in Helsinki trading Monday after the company canceled a sawmill and pulp mill project in the Kostroma region.

TGK-7 Announces Range for Secondary Sale at a Premium
Reuters Power producer TGK-7 has set the price range for its secondary share offering at 2.80 to 2.95 rubles, a premium to market prices, the company said Monday.

Barclays Completes Expobank Purchase
By Denis Maternovsky and Ben Livesey / Bloomberg Barclays, Britain's third-biggest bank, on Monday acquired Russian lender Expobank for $745 million in its first overseas acquisition since losing the bidding contest for ABN Amro.

Mechel Considers Takeover Offer of $1.2Bln for Oriel
Reuters Miner and steelmaker Mechel is in preliminary talks to acquire Oriel Resources, a $1.2 billion London-listed company with chrome assets in Russia and Kazakhstan

Putin Calls for Gold and Forex Reserves to Be Better Managed
Reuters President Vladimir Putin on Monday called for better management of the country's $484 billion gold and foreign exchange reserves, the world's third-largest, Russian news agencies reported.

Investors See Tough Challenges for Medvedev
By Max Delany / Staff Writer As president, Dmitry Medvedev will have a tough time making good on campaign pledges to tackle the country's most pressing economic worries, foreign business representatives and analysts said Monday.

EADS Shares Soar on Pentagon Deal
By Tim Hepher / Reuters Shares in EADS soared on Monday after the European aerospace group won part of a $35 billion deal to supply 179 aerial tankers to the Pentagon in a shock defeat for U.S. rival Boeing.

Opinion

A Missed Opportunity
By Andreas Gross An election should not be an opportunity for a state to increase its power, nor should it be a special operation for social engineering.

Business in Brief

Business in Brief
Russian Stock Markets FallPutin's Refining IncentivesTroika to Buy BrokerageNew Beluga Vodka MarketsMalaysia Gets 4 Su-30sRostiks-KFC to ExpandUES Sells Carbon CreditsSunflower Oil Makers Fined

What Happens When All the Oil Runs Out
By Anne Applebaum As predicted, Sunday's election was a farce -- a battle between Dmitry Medvedev and three officially sanctioned opponents. Even the head of the Central Elections Commission conceded that media coverage has been, well, biased in Medvedev's favor.

OSCE Needs to Be More Transparent
By Alexander Kramarenko The Foreign Ministry is often portrayed in the foreign press as having attempted to block the Organization for Security and Cooperation in Europe and its Warsaw-based Office for Democratic Institutions and Human Rights from observing the presidential election.

Dizzy With Sham Success
By Nikolai Petrov The authorities conducted this presidential campaign in no time at all.

Treasure Hunt: Women's Day Presents
By James Marson International Women's Day is one of the most important national holidays in Russia.

Moscow's Dead Cities
By Maria Antonova / Staff Writer Visitors to local cemeteries can uncover interesting legends and intriguing monuments.

Chef's Secrets: Pasta With Lobster
By Kirill Karmalov A recipe from Bocconcino's head chef Kirill Karmalov.

Tourist Appeal to a ""T""
By Nathan Toohey / Staff Writer Pivnoi Club T is a new beer restaurant that has opened in the former premises of the restaurant Osteria.

New Offices Rise Around Old Believer Church
By John Wendle / Staff Writer The White Square Office Center, near Belorussky Station, focuses on and looms over the neighboring church.

Firm Sees Opportunities in Russia
Reuters Pervasive fear in the capital markets has driven down bonds backed by commercial real estate loans to levels where they now offer an enticing investment, said Michael Pralle, the former head of GE Real Estate.

Bulgarian Builders Facing Bankruptcy
Reuters Bankruptcies in Bulgaria's construction sector are likely to increase by about 50 percent this year, global risk management consultancy Coface said last week.

Real Estate in Brief
Poll Tests Mortgage SavvyNew Green Line Metro StopPinchuk's London Property

Bringing the Mountain to the Skiers
By Tai Adelaja / Staff Writer Muscovites looking for a way to escape the spring's slush and mud -- or the summer's sweltering heat, for that matter -- have a new place to keep cool year round.

The Ersatz Elections
When I was a child, my parents took me along with them when they voted.

MT News

The Moscow Times - Partner of the Person of the Year Awards
The Moscow Times On the 20th of February, an awards ceremony for the winners of the prize International Person of the Year 2007 was held in Petrovsky Hall of the Kremlin Palace.

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