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

Medvedev Orders Cleanup of Courts
By Natalya Krainova / Staff Writer President Dmitry Medvedev said Tuesday that the establishment of an independent judiciary was the central plank of planned reforms to the judicial system in a Kremlin meeting with senior judges and legal officials.

BP Offices Searched By FSB Agents
By Miriam Elder / Staff Writer Federal Security Service officers raided the Moscow office of British oil major BP on Tuesday, feeding market speculation that the state was hoping to hasten a deal that would see a state-run firm buy into TNK-BP, the company’s main Russia venture.

Lugovoi Gets a Ticket in a Buyer's Market
By Miriam Elder and Max Delany / Staff Writers He’ll be entering a lion’s den, but Andrei Lugovoi, the man wanted in Britain for the London murder of former FSB officer Alexander Litvinenko, is set to brave a stadium full of English fans Wednesday evening to watch Manchester United take on Chelsea.

Prosecutors Summon Art Curator
The Moscow Times The head of the contemporary art department of the Tretyakov Gallery has been called in for questioning over a 2007 art exhibit, accused of inciting religious hatred, Moscow city prosecutors said Tuesday.

2 Hours in Russia Too Much for Allen
Combined Reports Woody Allen is ready to make movies anywhere in the world -- but not in Russia.

Chirac Wins Top State Award
Combined Reports Former French President Jacques Chirac has won a top state award for his humanitarian activities, the Kremlin announced Tuesday.

Newspapers Call Postal Rate Hike an Attack on Speech
The Moscow Times Several national newspapers threatened to print blank front pages in Wednesday's issue to protest a hike in postal charges for subscribers that they likened to an attack on free speech. But the protest was called off Tuesday afternoon after last-minute talks.

Corporate Raiders Are 'Scourge' of Economy
By Francesca Mereu / Staff Writer A study says the country will always remain in a state of chaos if steps aren't taken to prevent the illegal takeover of companies.

Russia Near Bottom of Peace Index
By Anna Smolchenko / Staff Writer Russia is one of the least peaceful places in the world, according to a new study, which ranks it among countries mired in drug trafficking, guerilla wars and political instability.

EU to Restructure Farm Subsidies System
The Associated Press The European Commission on Wednesday presented plans to shake up the way the EU gives billions of euros in handouts to farmers and scrap decades-old rules limiting how much farmers can grow -- part of efforts to bolster Europe's production amid global food shortages.

Iraqi Troops Take Control of Sadr City
The Associated Press Thousands of Iraqi troops moved into Baghdad's Sadr City district Tuesday in a major operation aimed at bringing government control over the Shiite militia stronghold, the Iraqi military said.

Taiwanese President Sworn In As Predecessor Is Investigated
The Associated Press Ma Ying-jeou took office as Taiwan's president Tuesday, urging rival China to open a new page of peace and prosperity in their long-strained relationship while rejecting unification with the mainland any time soon.

Myanmar Observes Days of Mourning
Reuters Flags across Myanmar flew at half-mast on Tuesday for the victims of Cyclone Nargis as diplomats pressed the military government to speed up aid to survivors.

China Raises Quake Death Toll to 70,000
Reuters China raised the number of dead or missing from a devastating earthquake to more than 70,000 on Tuesday, as rescuers found another survivor eight days after the huge tremor hit.

ANC Tries to Curb Violence
Reuters South Africa's police and the ruling ANC party intensified efforts on Tuesday to quell deadly violence against foreigners, and a government minister said the unrest could damage the key tourism sector.

Business

$570Bln for Transportation Overhaul
Combined Reports Prime Minister Vladimir Putin approved on Tuesday the country's largest spending project since the Soviet collapse, a $570 billion program to overhaul and expand the country's transportation infrastructure over the next seven years.

Chubais Opens Landmark Power Unit
By Nadia Popova / Staff Writer But industry players are skeptical about the efficiency and modernity of the Russian-made turbines.

Metalloinvest Plans to Float Up to 25%
Reuters Metalloinvest, an iron ore and steel company owned by billionaire Alisher Usmanov, plans to float up to 25 percent of its shares in an IPO this fall, sources close to the deal said Tuesday.

EU Official Says Russia Faces Big Challenges
By Catrina Stewart / Staff Writer Russia must overcome significant challenges if it is to hold on to its rapid growth rates, economists and investors warned Tuesday.

Norilsk to Help Combat Terrorism
By Anatoly Medetsky / Staff Writer Norilsk Nickel will help the Foreign Ministry to combat terrorism and the illegal trading of precious metals in return for support of its business interests abroad, chief executive Denis Morozov and Foreign Minister Sergei Lavrov said Tuesday after signing a cooperation deal.

Nuclear Deal May Be Signed in Beijing
Reuters Russian energy officials may sign a cooperation agreement on nuclear power with China during President Dmitry Medvedev's visit this week, Russia's ambassador in Beijing said Tuesday.

Yandex Seeks $1.5Bln IPO in N.Y.
Reuters Yandex, the country's biggest Internet firm, plans to raise $1.5 billion to $2 billion in a New York IPO this fall, a source close to the offering said Tuesday.

Severstal Offers $1.24Bln for Esmark
Reuters Severstal said Tuesday that it had offered $1.24 billion in cash for all the outstanding shares in U.S. steel producer and distributor Esmark.

Business in Brief

Business in Brief
Auchan Plans New StoresGazprom, Rosneft BidsMTS Q1 Profit Rises 36%Adidas' Russia Sales TargetMMK Q1 Profit Falls 23%Industrial Output RisesTobacco Firm Boosts SalesFor the Record

Putin's Puppet Press
By Masha Lipman During Vladimir Putin's presidency, tight control of the mass media evolved as one of the Russian leadership's key political resources. It will be equally indispensable to President Dmitry Medvedev.

The New Face Of an Epidemic
By Svetlana Osadchuk / Staff Writer More and more women are becoming HIV-positive, changing the look of the AIDS crisis in Russia.

Ask the Chef
Vladimir Smirnov is head chef at the restaurant Zapasnik (Art Garbage).

Fit for a Thrifty Feast
By Nathan Toohey / Staff Writer If you're looking for an old-school banquet hall with prices that are hard to beat, then Pakhlava certainly fits the bill. It's huge, with a main hall that could certainly fit at least 200 people -- according to its business card.

When Rebels Need Cash, a Relative Vanishes
By Yulia Latynina Terrorist leaders in the North Caucuses have received a new infusion of money, Deputy Interior Minister Arkady Yedelev announced last week in Nalchik. It was a kind of international tranche and ""money from kidnappings,"" Yedelev said.

Unlike Putin, Medvedev Took Charge Quickly
By Anders Aslund Most journalists have unquestioningly embraced the notion that Prime Minister Vladimir Putin formed the new government.

News in Brief
New Anti-Trafficking ForceMedvedev, Saakashvili Talks?Polish Doubts on MissilesBelarus Asked to Free ManNASA Unfazed About Soyuz

Contract Feud May 'Distract' Hiddink
Reuters The Russia coach says prolonged wrangling could adversely affect the team.

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