The Moscow Times

Market Matters: RTS Has Toughest Week Since '99
Trading on the dollar-denominated RTS exchange was suspended three times on Friday as anxiety deepened over whether the U.S. House of Representatives would pass a $700 billion financial sector bailout package and share prices on Russian and international markets plummeted.

Business

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.

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

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

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, 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.

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