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

Putin Asks Iraq to Revive Oil Deal
Combined Reports President Vladimir Putin on Monday called on Iraq to support Russian investments, as LUKoil chief executive Vagit Alekperov arrived in Baghdad for talks to revive a Saddam Hussein-era oil deal.

Protests Tarnish Olympic Ceremony
Reuters Human rights demonstrators breached tight security at the Olympic torch-lighting ceremony in ancient Olympia on Monday.

Constructivist Edifice Sees New Life as Hotel
By John Wendle / Staff Writer The 'monument to revolutionary rationalism' is to be restored and transformed into a luxury hotel.

Immoeast Assets Suffer Q3 Losses
Bloomberg Austrian real estate developer Immoeast, which has half of its assets in Romania, Bulgaria, Russia and Ukraine, made a fiscal third-quarter loss as it cut the value of its properties, the company said in a statement Friday.

Real Estate Investors Await Balkan Stability
By Ivana Sekularac / Reuters Residential real estate is booming in the Balkans as the region recovers from the wars and stagnation of the 1990s, but big corporate investment will only come with real political stability, a top sector executive said.

Credit Crunch Slows Building
By Rodney Jefferson, Nariman Gizitdinov / Bloomberg Kazakh homebuyers are being left out in the cold by the global credit shortage.

Business in Brief
Graft Watchdog OpposedNabiullina on EBRD BoardTransport Upgrade CostRussia's Egypt Atomic BidMore Trust in BanksMordashov Backs TUI Split

Norilsk's CEO Puts Own Firm at Core of Mergers
Reuters Norilsk Nickel should be at the core of any potential merger with one or more privately owned Russian miners, its chief executive said in an interview published Monday.

Meat Plant Faces Landmark Tax Case
By Tai Adelaja / Staff Writer Tax authorities have opened a tax-fraud case against a subsidiary of the Ostankino Meat Processing Plant, which could potentially give them ammunition to fight off-the-book payment schemes and convict hundreds of companies still believed to be using this method of tax evasion.

TGK-13 Posts Loss As Costs Soar 18%
By Nadia Popova / Staff Writer The power producer says $580 million in operating costs caused it to post a net loss of $45 million in 2007.

Unemployment Increases to 6.6%
Bloomberg Russia's unemployment rate rose more than expected in February after falling the previous month, the State Statistics Service announced on Monday.

Aeroflot Faces Delay in First Delivery of New Superjets
Reuters State-owned United Aviation Corp. said Monday that it might delay delivery of its new Superjet 100 passenger planes to Aeroflot beyond its contractual deadline of end-2008 as the plane has not yet launched.

Forecasts Raised for GDP, Urals
Bloomberg The Economic Development and Trade Ministry on Monday raised its forecasts for inflation, gross domestic product growth and the average price for Urals crude for 2008.

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