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-Putin Duo Bucks a Trend
By Alexander Osipovich / Staff Writer Dmitry Medvedev won the presidential election last weekend on a promise that he would govern hand in hand with Vladimir Putin in the interest of stability.

Gazprom Restores Gas to Ukraine
By Anna Smolchenko / Staff Writer A three-day standoff that saw gas shipments to Ukraine cut in half ended Wednesday when Russia reached an agreement with the important energy-transit state.

Publishing, Internet and Fish Called Strategic
By Tai Adelaja and Anatoly Medetsky / Staff Writers The government has drafted legislation to limit foreign investment in publishing houses, the Internet and fishing, expanding the list of industries in which foreigners are forbidden from acquiring companies without state permission.

Tajikistan Pulls Down Its Last Lenin Statue
Reuters Tajikistan has dismantled its last monument to Bolshevik leader Vladimir Lenin, bidding farewell to another vestige of its Soviet past.

House on The Corner Linked Riga to Siberia
By Patrick Lannin / Reuters Pitch-black corridors, the stink of damp and peeling walls give the impression of a medieval dungeon: The Russian writing on heavy metal doors hints at the building's true purpose.

South Ossetia Seeks Recognition
Reuters South Ossetia said Wednesday that it had asked the world community to recognize its independence from Georgia following the West's support for Kosovo's secession.

New Wave of Karabakh Clashes
By Hasmik Mkrtchyan and Lada Yevgrashina / Reuters Azerbaijan and Armenia accused each other Wednesday of triggering a shootout in the disputed region of Nagorno-Karabakh that killed up to 16 people, one of the biggest such clashes in recent years.

EU Gives Mixed Election Assessment
Reuters The European Union sent President-elect Dmitry Medvedev barbed congratulations on his election, saying the poll had been smoothly carried out but had not been truly competitive.

Cartoon Channel Cancels 2 Shows
By Matt Siegel / Staff Writer The cartoon channel 2x2 has yanked two animated programs from its rotation after being warned by the federal media watchdog that the shows promote a ""cult of violence and brutality.""

A Yabloko Leader Stops Eating in Jail
By Natalya Krainova / Staff Writer Yabloko's St. Petersburg leader has gone on a hunger strike to protest his arrest on charges of insulting and assaulting a police officer, his supporters said Wednesday.

Aleksanyan to Remain in Custody
By David Nowak / Staff Writer The Moscow City Court on Wednesday refused to release former Yukos vice president Vasily Aleksanyan from custody while he receives treatment for AIDS-related lymphoma.

Business

LUKoil Boost Gas, Not Oil Reserves
Bloomberg LUKoil, the country's largest nonstate oil producer, said Wednesday that it failed to replace the crude it pumped for the second year in a row, while boosting proven natural gas reserves.

Moscow Welcomed More Tourists in '07
Bloomberg More foreign tourists visited Moscow last year as Russia's capital became a ""more comfortable and modern"" place, the city's government said.

Kaspersky Plans Share Sale by 2011
Bloomberg Kaspersky Lab, the country's leading provider of programs to stop viruses from attacking mobile phones and personal computers, will sell shares in two to three years to gain funds and raise the profile of its business.

TMK Sees Pipe Sales Up by 20%
Reuters TMK, the country's largest steel pipe maker, said Wednesday that it expected 2007 revenues to have risen about 20 percent year on year to more than $4 billion on strong demand and higher prices for pipes.

Turkmens Strike Deal With Azeris
Reuters Azerbaijan and Turkmenistan settled an old gas debt dispute on Wednesday, removing a major obstacle to relations between the two energy-rich Caspian nations.

Sibirtelecom, AFI Lead Recovery
Bloomberg The MICEX Index gained for the first time in six days, adding 1.2 percent to 1,655.66 on Wednesday as 23 stocks advanced, six retreated and one was unchanged.

S&P Says Russia Least in Danger
By Milda Seputyte / Bloomberg Russia is least susceptible to worsening global growth among 18 European emerging-market nations because of its lower dependence on external financing and ""the sheer scale of monetary and fiscal reserves,"" Standard & Poor's said Wednesday.

Wheat Export Duty May Be Extended
Bloomberg Russia may extend a ""prohibitive"" duty on wheat exports through June or beginning of July, Interfax said, citing an unidentified government official.

German Seeks a Bigger Role for EU Countries in EBRD
Combined Reports Matthias Kollatz-Ahnen, a vice president of the European Investment Bank, said the bank aimed to take a majority stake in development lender EBRD through gradually buying out non-European Union shareholders.

Retailer Eldorado Faces Back Tax Claim
Reuters Eldorado, one of the country's largest home-electronics retailers, is facing back tax claims of up to $624 million, which could force it to sell some assets, Kommersant reported Wednesday.

$14Bln Sought for Olympics Transport
By Max Delany / Staff Writer In a State Duma meeting light on specifics, government officials said Wednesday that more than 332 billion rubles ($13.8 billion) would be needed to develop transportation infrastructure for the 2014 Sochi Olympics but refused to predict a total cost for the preparations.

Always a Dissident

A Charity for Overfed Zombies
By Boris Kagarlitsky The hordes of foreign journalists who descended upon Moscow for the presidential election were disappointed this time around.

Business in Brief
Inflation Slowed in FebruaryGazprom Neft's Port BuyKM Invest to Appeal RulingUkraine to Sell Energy FirmNYME Deal May EndShell Venture's OuputMMK's Turkish Steel PlantGeorgian Inflation RisesOGK-1 Auction InterestSwedbank Slows Expansion

Investors Don't Like Surprises
By Neil Cooper Dmitry Medvedev's accession to the presidency has been variously described in the Western media as predictable, boring, managed and rigged.

Icon: Bulochka
By Maria Antonova The ""caloric bun"" or kaloriinaya bulochka became a true hit in Soviet times. An 8 kopek bulochka and a bottle of kefir was a ubiquitous lunch combo for students and others who ate on the go.

Flavors of the Moment
By Nathan Toohey / Staff Writer Cafe Emporio is the epitome of a Moscow fashion restaurant.

Travel News
By James Marson Singapore Airlines will start operating flights from Houston to Moscow -- the first non-stop service connecting these cities. The service will begin on March 20.

An Author's Country Retreat
By Maria Antonova / Staff Writer Anton Chekhov relished the time he spent on his estate in the village of Melikhovo.

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