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

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.

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

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.

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