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

From Soviet Relic to Renationalization Target
By Max Delany / Staff Writer If you thought the recent turmoil at Heathrow's new Terminal 5 was as bad as it can get for an international airport, then think again. While London's flagship gateway has been dealing with lost luggage, angry passengers and flight delays over the past few weeks, Moscow's leading airport has for years fought a bitter struggle for control, court cases, rate hikes and even attempts to renationalize it.

Chubais Wants Rosneft to Butt Out
By Nadia Popova / Staff Writer Unified Energy System CEO Anatoly Chubais lashed out at state-controlled Rosneft on Wednesday, accusing the country's largest oil company of ""anti-government activities"" and jeopardizing vital reforms to the country's electricity sector.

Ban Finally Makes It to Moscow
By Anna Smolchenko / Staff Writer President Vladimir Putin and his successor Dmitry Medvedev told United Nations Secretary-General Ban Ki-moon on Wednesday that the UN was the only global body with the authority to resolve international disputes.

Poland Hesitant to Lift Russia Veto
Reuters Poland will hesitate to lift its veto on the European Union's partnership talks with Russia until big EU powers agree to put Georgia and Ukraine on a clear path to join NATO, Polish President Lech Kaczynski said on Wednesday.

Tank Tracks to Have Rubber Soles
Reuters Tanks will be fitted with rubber pads to protect the cobblestones on Red Square when they take part in the Victory Day parade for the first time since the fall of the Soviet Union.

Thailand Drops Bout Charges
By Sutin Wannabovorn / The Associated Press Thai police dropped charges Wednesday against Russian citizen Viktor Bout, who is accused of being one of the world's most prolific black market arms dealers, saying they would proceed with hearings to extradite him to the United States.

Legislation Jeopardizes Foster System
By Svetlana Osadchuk / Staff Writer The State Duma took a major step Wednesday toward preventing children from being placed in foster families by abandoning a system that encouraged the placements.

Luzhkov May Leave City Hall For Senate
By Francesca Mereu / Staff Writer Mayor Yury Luzhkov will leave office by the end of the summer to take a senior government position, a city government official said Wednesday. Luzhkov, 71, is in negotiations with the Kremlin about his future position, ""but so far they have not reached any agreement,"" the official said on condition of anonymity, citing the sensitive nature of the issue.

Sargsyan Pledges to Work With Foes
Reuters Armenian President Serzh Sargsyan promised at his inauguration Wednesday to heal rifts with his opponents, one month after clashes between police and protesters killed eight people. Sargsyan was sworn in as president at Yerevan's opera house in front of an audience of hundreds including parliamentarians and foreign guests.

Unsolved Murders Revisited
The Moscow Times The Investigative Committee plans to revisit numerous unsolved murders from the 1990s, its head, Alexander Bastrykin, said in an interview published Wednesday.

Soviet Shuttle Makes River Voyage
The Associated Press The erstwhile pride of the Soviet space program is making a decidedly sedate journey to its new home, chugging up the Rhine River aboard a pontoon boat.

2 Women Died in Sect Bunker
Reuters Two members of the Penza Region doomsday cult who barricaded themselves into a bunker died during their five-month vigil underground, one of the cult members said Wednesday.

Business

Inflation Leaps, Led by Bread and Gasoline
Bloomberg Consumer prices rose 5.3 percent in the year through Monday, the State Statistics Service said Wednesday.

Long-Delayed Wheat Futures Trading Starts
Reuters Russia, one of the world's major grain exporters, on Wednesday began trade in wheat futures aimed at adding transparency to its opaque domestic grain market and allowing traders to hedge risk as prices hit record highs.

RZD Seeks Partners for Copper Bid
By Anton Doroshev / Reuters Russian Railways is forming a consortium with the aim of bidding for the huge Udokan copper field in Siberia when the government sells it off this year, a spokesman said Wednesday.

Steelmakers Moving Fast for U.S. Assets
By Robin Paxton / Reuters The country's steel elite, with cash to burn from record profits, has accumulated almost 10 percent of U.S. steelmaking capacity as it bets big that demand in the world's largest economy will ride out a global credit crunch.

Eyes on Medvedev for St. Pete Forum
By Max Delany / Staff Writer This year's St. Petersburg International Economic Forum is drawing more attention than ever and will focus on creeping global economic isolationism and Russia's long-term development, Economic Development and Trade Minister Elvira Nabiullina said Wednesday.

Ernst & Young Face Tax Claim
The Moscow Times Ernst & Young, one of the world's largest auditors, said Wednesday that it was contesting a multimillion-dollar back tax claim.

Opinion

Need More Soft Power
By Mikhail Margelov Following the NATO summit in Bucharest and the Bush-Putin talks in Sochi, Russia's relations with the alliance and the United States remain about the same as they were prior to those meetings. It makes sense then that the most popular description of the summit has been: no breakthroughs, but some progress.

Business in Brief

Business in Brief
Vekselberg-Led OGK-1 BidRosneft May Up DividendsSeverstal's Power Plant TalksRambler Media ProfitableNord Stream PlatformFor the Record

Modern Eats at Grossbif
By Nathan Toohey / Staff Writer Grossbif is a good example of why people living in Moscow's outer suburbs no longer need to look downtown to find a fine restaurant experience. Ulitsa Udaltsova may be far from the center, but this part of town does have its charms. Situated inside a small retail center that neighbors the large and pleasant Park Imeni 50-Letiya Oktyabrya, Grossbif is perfectly placed for a relaxed meal after a day strolling in the park. And Grossbif is a relaxed kind of place. It sports a modern and fairly minimal design, with large windows facing onto a nicely landscaped courtyard that give the restaurant an airy atmosphere.

Satisfy Your Carb Craving
What to Do

Photo Ops and Back Patting Aren't Enough
After weeks of predictions -- and great expectations -- on both sides of the ocean that Presidents George W. Bush and Vladimir Putin would sign a strategic document in Sochi, the two leaders walked away with only one document titled ""U.S.-Russia Strategic Declaration.""

News in Brief
Helicopter Crash DeliveryLavrov Wants ConferenceGeorgia Slams Rebel Ties

Liverpool, Chelsea Book Semi Rematch
By Zoran Milosavljevic / Reuters Liverpool and Chelsea progressed to a third Champions League semifinal meeting in four years after quarterfinal wins Tuesday.

On the Road Again
By John Wendle How to...

A Hippie's Take On Dacha Life
By John Wendle / Staff Writer Uncle Pasha""s offers a unique, cheap, vegetarian, do-it-yourself take on the standard Russian dacha experience.

Why Moscow Doesn't Have a Lot of Friends
By Georgy Bovt Some members of Moscow's political establishment considered the recent NATO summit in Bucharest a partial victory since Georgia and Ukraine were not invited to join the alliance. But far from saying ""no,"" NATO promised that these countries would eventually become members.

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