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.

Business

Investors See Power Handover As Real Test
By Catrina Stewart / Staff Writer Russia may have voted in a new president this weekend, but investors have long since moved on from thinking about who will be Vladimir Putin's successor.

Business in Brief
5{ Car PlantGazprom in GermanyMoscow Power MergerNovatek to Borrow $800MWBD Profit WarningPower Prices Jump 34%BlackBerry Imports ClearedSedmoi Sales Up 29%Abramovich's Ball BearingsUkraine May Block Pipeline

Norilsk in Talks With Usmanov
Bloomberg, MT Norilsk Nickel will start talks with the management of iron-ore and steel producer Metalloinvest on combining the two companies.

Watchdog Clears Vekselberg to Buy 2 Power Producers
Reuters The Federal Anti-Monopoly Service said in a statement Friday that it had allowed Viktor Vekselberg's Integrated Energy Systems to buy control of power producers TGK-6 and TGK-7, but demanded that it sell some power stations.

TGK-10 Price Could Top $4Bln
Reuters Fortum will pay up to 2.7 billion euros ($4.1 billion) for west Siberian power generator TGK-10, should it gain full ownership of the utility, the Finnish company said Friday.

Tymoshenko Says Gas Won't Be Cut
Reuters, Bloomberg There will be no cutoff of Russian gas to Ukrainian consumers, despite Gazprom's threat to reduce volumes Monday over payment arrears and contractual issues, Ukrainian Prime Minister Yulia Tymoshenko said Saturday.

KIT Finance Rethinks IPO
Bloomberg Investment bank KIT Finance may drop plans for an initial public offering this year and instead opt to sell shares to private investors amid a slump in demand.

Central Bank Says It's Happy to Hold U.S. Mortgage Bonds
Reuters The Central Bank holds several percent of its $484 billion gold and forex reserves in securities in U.S. home finance firms and is happy with the investment, the bank's first deputy head, Alexei Ulyukayev, said Friday.

BoNY Fails in Bid to Have Judge Replaced
By Simon Shuster / Reuters The Moscow Arbitration Court on Friday rejected a motion by lawyers for the Bank of New York to dismiss the judge in the Russian government's $22.5 billion lawsuit against the bank, lawyers for both sides said.

Renault Signs $1Bln AvtoVAZ Deal
By Max Delany / Staff Writer French auto giant Renault completed a deal Friday that could see the company pay up to $1.17 billion for a 25 percent stake in the country's biggest carmaker, AvtoVAZ.

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