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

Economic Team Has Hard Job Abroad
By Miriam Elder / Staff Writer Prime Minister Vladimir Putin may have unveiled an overwhelmingly liberal-leaning economic team in his Cabinet on Monday, yet the government faces an uphill battle as it seeks to promote Russian business abroad in the face of widespread fear of overdependence on the country's politicized economy.

Without Lights, Stockmann Closes Its Doors
By Tai Adelaja and Max Delany / Staff Writers International department store chain Stockmann closed its flagship Moscow location until further notice Tuesday, after the property's landlord unexpectedly cut electricity as part of a worsening rental dispute, a Stockmann official said.

Kadyrov's Power Grows As Commander Leaves
By Nabi Abdullaev / Staff Writer Chechen President Ramzan Kadyrov has sidelined the last federal security agency in the republic, suspending the commander of a battalion that hunts rebels, a Chechen official said Tuesday.

Court Ruling Declares Planetarium Bankrupt
The Associated Press A court declared the Moscow Planetarium bankrupt Tuesday -- the latest development in a struggle over the once-loved but long-shuttered landmark from the Soviet era.

Lawmakers Block Yushchenko's Speech
The Associated Press President Viktor Yushchenko canceled his state-of-the-nation speech to parliament on Tuesday after lawmakers loyal to Prime Minister Yulia Tymoshenko blocked the speaker's chair.

Klitschko Seeks a Shot at Mayor
By Douglas Birch and Maria Danilova / The Associated Press Former heavyweight boxing champion Vitaly Klitschko has found politics in Kiev to be a bruising business. So tough, in fact, that he has hired former New York Mayor Rudy Giuliani to advise him in his campaign to be mayor.

Ukraine Bars Moscow Mayor Over Call to Hand Over Port
The Associated Press Mayor Yury Luzhkov has been barred from entering Ukraine for suggesting that it should cede the city of Sevastopol to Russia.

Bush Prods Medvedev Over Georgia
Combined Reports U.S. President George W. Bush has congratulated President Dmitry Medvedev on his inauguration and used his call to express concern about Moscow’s dispute with Georgia over the breakaway Abkhazia region, the White House said.

Judge Tells of Kremlin Threat
By Natalya Krainova / Staff Writer Yelena Valyavina says she was told she would lose her job if she didn't cooperate.

Serbian Parties Jockey for Position
Reuters Serbia's outgoing prime minister Vojislav Kostunica, once valued as a champion of reform by the West, teamed up with ultranationalist Radicals on Tuesday, seeking to form the country's next government, his party said.

Zimbabwe Opposition May Contest Runoff
Reuters The leader of Zimbabwe's main opposition group said on Tuesday that he would contest a presidential runoff against veteran President Robert Mugabe if only regional observers could be present.

Hariri Vows No Surrender to 'Iranian and Syrian Regimes'
Reuters Lebanon’s Sunni Muslim leader Saad al-Hariri pledged on Tuesday that there would be no political surrender to what he called a bid by Hezbollah and its Syrian and Iranian backers to impose their will on the nation by force.

Earthquake Death Toll Exceeds 12,000
The Associated Press Rescue workers sifted through tangled debris of toppled schools and homes Tuesday for thousands of victims buried or missing after China's worst earthquake in three decades, where the death toll soared to more than 12,000 people in the hardest-hit province alone.

Fraction of Aid Gets to Myanmar
The Associated Press The UN said Tuesday that only a tiny portion of international relief is reaching Myanmar’s cyclone victims, amid fears that the country’s military regime is hoarding high-quality foreign aid for itself while people make do with rotten food.

Business

Shipyards to Focus on Energy Vessels
Reuters Prime Minister Vladimir Putin urged his government on Tuesday to give Russia a modern fleet of ships for its flourishing energy sector and named his close ally, Deputy Prime Minister Igor Sechin, to manage the multibillion-dollar project.

Judge in BoNY Case Urges Haste
By Simon Shuster / Reuters The judge presiding over Russia’s $22.5 billion lawsuit against the Bank of New York Mellon insisted on Tuesday that the case move toward a quick conclusion after more than a year of procedural delays.

Injunction Blocks BP Employees
Reuters BP’s Russian venture TNK-BP said Tuesday that court action by a small Moscow brokerage had stopped it using key specialist staff, the latest problem to hit the company as a struggle rages over its ownership.

Railway Workers to Get 12% Pay Raise
Reuters Russian Railways plans to raise wages for its 1.3 million workers by 12 percent from July 1, in a move it says is unconnected with a threatened strike by train drivers.

PetroVietnam to Work in Nenets
The Moscow Times Zarubezhneft on Tuesday confirmed plans to join forces with Vietnam's state-owned oil producer, PetroVietnam, in developing Arctic fields in Russia.

Business in Brief

Business in Brief
Trutnev on Staff ChangesChubais May Leave CIS PostUkraine-Azeri Crude TalksVekselberg Reps at OerlikonSUEK Q1 Output Up 13%For the Record

Rescuing a Revolution
By Elmar Brok, Jas Gawronski and Charles Tannock There is no more depressing sight in politics than a leader who, desperate to cling to power, ruins his country in the process.

A Unique Open House
By Maria Antonova / Staff Writer On May 18, many of Moscow's historical landmarks will open their doors to the public.

What to Do: Make It a Night at the Museum
By Lara McCoy Roslof Several Moscow museums and galleries will participate in the 11th annual Night of Museums on Saturday, May 17.

Ask the Chef
Glen Ballis is head chef at Nedalny Vostok restaurant.

A Kitchen Spectacular
By Nathan Toohey / Staff Writer Until now, Moscow's nicest movie theater restaurant would have been the Oktyabr cinema complex's Porto Chervo -- a pleasantly casual Italian eatery run by the Arkady Novikov Group.

Olympic Gold in Abkhazia
By Yulia Latynina The day before Victory Day, Zvezda television, run by the Defense Ministry, reported that Georgia was planning an invasion of the breakaway republic of Abkhazia on May 9.

The Fed Can Help Russia Lower Its Inflation
By Martin Gilman Everyone agrees that inflation, which already reached an annual rate of 14.3 percent last month, is a problem.

News in Brief
Reiman and Zurabov ReturnIvanov Keeps PortfolioEcstasy and Uppers BustSakharov Director ChargedPoland Asks U.S. for MoreKyrgyz Aid to HIV ChildrenLukashenko Offers Hope

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