The Moscow Times

Business: RenCap Cuts RTS '08 Target to 2,350
Renaissance Capital on Monday slashed its year-end forecast for the benchmark RTS Index from 3,000 to 2,350 and increased its equity risk premium for the country from 4 percent to 5.5 percent in a sign of continued investor jitters.

Business

Golden Says Profit Jumped 78% in 2007
Bloomberg Golden Telecom, a fixed-line telephone and Internet services provider taken over by VimpelCom, said profit jumped 78 percent last year on increased traffic.

Markets Up as U.S. Rebounds
Bloomberg Russian markets rose Tuesday as their U.S. counterparts rebounded strongly on positive results from two major banks and the expectation of the Federal Reserve slashing interest rates.

Business in Brief
Ivanov Backs 12% VATFunds Frozen in KazakhstanSberbank '07 Profit Up 33%Gazprom May Have to ShareTelecominvest Chief ResignsLeak Kills LUKoil WorkerHousing Fund DepositsDuties on Mineral FertilizersAcron's $1.7Bln for FieldRosneft Tax ProposalFor the Record

Czech Spies to Counter Energy Threat
Reuters The Czech government wants the country's intelligence service to recruit more spies this year because of Russia's growing energy muscle, according to an Interior Ministry document.

Cargo Carrier Predicts Sales Will Rise
Bloomberg Volga-Dnepr, the world's largest hauler of oversized cargo for clients ranging from rock stars to armies, predicted on Tuesday that sales would rise to a record on global demand for large shipments.

Defense Ministry Approves 3G Tests
The Moscow Times The country's three biggest mobile operators -- Mobile TeleSystems, VimpelCom and MegaFon -- moved a step closer to deploying third-generation technology in Moscow, after the Defense Ministry approved network tests.

Somali Pirates Free Boat Set for Sakhalin
Bloomberg Pirates on Tuesday released a tugboat that was captured off the coast of Somalia last month as it sailed from St. Petersburg to Gazprom's Sakhalin-2 oil and gas project in the Far East.

Renaissance Equity Fund Raises $660M
By Catrina Stewart / Staff Writer Renaissance Group said Tuesday that it had raised $660 million for its first private equity fund, as investors sought greater exposure to Russia amid the turmoil on global financial markets.

Kazakhs See Gas Export Prices Rising by 70%
Reuters State energy company KazMunaiGaz said Tuesday that its gas export prices were likely to rise by as much as 70 percent from 2009 as part of a wider plan by Central Asian producers to charge Russia more for their supplies.

Gazprom Strikes Bolivia Gas Deal
Bloomberg Gazprom said Tuesday that it had signed an accord to explore for gas in Bolivia, as the South American country looks to foreign companies to help build up the energy industry.

Georgia to Start Flights Next Week
Combined Reports The Transportation Ministry agreed on Tuesday to restore air travel between Russia and Georgia, which has been suspended for 1 1/2 years amid tensions between the ex-Soviet neighbors.

Telecoms, Internet May Escape Curbs
By Tai Adelaja / Staff Writer In an apparent about-face, a State Duma committee on Tuesday signaled that it could exclude telecoms firms, Internet providers and small power distribution grids from a bill that would limit foreign participation in strategic sectors.

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