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.

News

Fridman On PR Blitz for TNK
By Miriam Elder / Staff Writer Mikhail Fridman, the billionaire chairman of TNK-BP’s board, strolled into a room packed full with reporters on Monday and flashed a large smile.

Russians Buy Furs, Homes In Dubai
By Alexander Osipovich / Staff Writer It was simmering outside in the fierce Arabian sun, but in the air-conditioned premises of the Marco Varni fur store on Al Nasser Square, about a dozen Russian tourists were trying on fur coats.

World Bank Chief Keen on Different Russia
By Anna Smolchenko / Staff Writer Visiting World Bank president Robert Zoellick had strong praise for Russia’s economic performance Monday, and the compliments were returned by President Dmitry Medvedev, who said Moscow was eager to take part in initiatives recently put forward by the global body.

NATO Chief Reassures Ukrainians
Reuters NATO’s secretary general, visiting Ukraine to bolster thin public support for joining the alliance, said Monday that membership would in no way oblige the country to host foreign bases or send soldiers off to war.

Kazakhs Lose Control of Only Satellite
Reuters Kazakhstan's sole communications satellite, used by many of the country's television broadcasters, is out of control due to a computer glitch and is likely to be lost altogether, space officials said Monday.

6th New Facility Will Destroy Chemical Weapons in Penza
Reuters A new facility will be opened Tuesday to continue destroying Russia’s formidable arsenal of chemical weapons, the world’s biggest, as part of its drive to eliminate all such weapons by 2012.

Bill Floated to Ban Gifts to Bureaucrats as Bribes
By Francesca Mereu / Staff Writer Bureaucrats face a ban on accepting small gifts under a bill being floated by law enforcement officials.

Shaimiyev Wants Votes
The Moscow Times Tatarstan President Mintimer Shaimiyev has called to reinstate popular gubernatorial elections and criticized the government for trampling on federalism.

Investigators Arrested in Bribery Case
The Moscow Times Two Interior Ministry officials have been arrested on suspicion of large-scale bribery, the Investigative Committee said Monday.

German Spy Handed Suspended Sentence
By Nikolaus von Twickel / Staff Writer The engineer was convicted by a Munich court of selling Western helicopter plans to Russian intelligence.

News in Brief
Appeal in Chubais PlotAfrican Breaks Cop's Ankle

Iconic but Staged War Photo Honored in Berlin
By A.J. Goldman / The Associated Press It’s an iconic image of World War II: Berlin has fallen and Soviet soldiers are hoisting the red flag over the Reichstag.

Honda Ships First Fuel-Cell Car to Southern California
The Associated Press Honda's new zero-emission, hydrogen fuel-cell car rolled off a Japanese production line Monday and is headed to southern California, where Hollywood is already abuzz over the latest splash in green motoring.

Bush Wins Europe's Backing on Iran
By Matt Spetalnick, Jeremy Pelofsky / Reuters U.S. President George W. Bush won Europe's backing on Monday for tighter sanctions on Iran over its nuclear program and secured a British pledge to send more troops to Afghanistan.

EU to Keep Reform Treaty Alive
Reuters European Union foreign ministers said Monday that they would keep the EU reform treaty alive despite Ireland's ""No"" vote, but conceded that they had no quick fixes for rescuing it.

Business

Kerimov Offloads 68% of Polymetal
By Nadia Popova / Staff Writer Czech investment fund PPF and businessmen Alexander Nesis and Alexander Mamut have taken a 68 percent stake in Polymetal, Russia's largest silver miner and third-biggest gold producer, the company said Monday.

Strabag Gets Big Share of Road Deal
Bloomberg Austrian builder Strabag won a 1 billion euro ($1.5 billion) share of a contract to build an eight-lane highway around St. Petersburg.

Putin Warns Against Delays in Spending
By Anatoly Medetsky / Staff Writer The prime minister says federal funds take too long to reach contractors.

Business in Brief
SPI Considers New PartnerGazprom to Spend $420BlnEconomy Grew 8.5% in Q1Norilsk Barge SinksUralkali Shares Hit RecordTMK Buys Kazakh RivalMystery OGK-1 SuitorProkhorov in Copper Bid

Gazprom Opens Office in Algeria
Bloomberg Gazprom opened an office on Monday in Algeria, its first in Africa, to forge closer ties with Sonatrach, the continent's largest natural gas producer.

Gazprom Looks to Hike Output at Sakhalin-2
Bloomberg Gazprom said Monday that it was examining plans to increase gas extraction from the Sakhalin-2 fields, being developed with Royal Dutch Shell in the country's Far East.

Prokhorov Vows to Sue Potanin
The Moscow Times Mikhail Prokhorov will file a lawsuit against his former business partner, Vladimir Potanin, to defend his business reputation, Prokhorov's Onexim Group said Monday.

'To the Right Is Moscow, to the Left Is Europe'
By John Wendle / Staff Writer Cat food. Cubic meter after cubic meter of canned cat food. And Mars bars. And shiny new toilet bowls. And heart-shaped hot tubs for two.

Sheremetyevo Train Draws Complaints
By Tai Adelaja / Staff Writer For Florian Hassel, the Moscow correspondent of German newspaper Frankfurter Rundschau, using the direct train service from Sheremetyevo Airport to the city center after a stressful trip was not the comfortable ride he had hoped for.

Arbat Prestige Sees Proof of Asset Grab
By Francesca Mereu / Staff Writer An obscure figure has surfaced to claim that he is the true owner of troubled cosmetic chain Arbat Prestige, providing further evidence that the company is the target of an illegal asset grab, its lawyer Alexander Dobrovinsky said Monday.

City Wise

Chef's Secrets: Summer Yogurt Soup
A recipe from Yankel Schein, concept chef at Filimonova & Yankel fish house.

A Challenging Drive
By John Wendle / Staff Writer Participants in the Peking Challenge face a long drive from Amsterdam to Beijing via Russia to raise money for charity.

Between the Lines

Aitmatov Deserved a Nobel
My father and I spent the long Russia Day holiday weekend at our dacha, where we reminisced about Chingiz Aitmatov, the great writer who died last week and was buried on Saturday in Bishkek.

Bismarck in the Kremlin
Foreign diplomats and analysts have spent a lot of time scrutinizing President Dmitry Medvedev's comments on Russia's foreign policy.

Russia Has Emerged at Last
We live in an age of accelerating economic convergence. The world's new economies --with Russia among the leaders -- will drive global growth and value creation in the early decades of this new century.

Restaurant Called Cafe
By Nathan Toohey / Staff Writer Given the crowds of the well-to-do spilling out of the upmarket restaurant Aist, it would seem that rumors of its fading mojo are exaggerated.

Community Bulletin Board

Community Bulletin Board
How to Submit Items Community Bulletin Board is published every Tuesday. Please submit notices of up to 40 words by noon Thursday. E-mail community@imedia.ru , call +7 (495) 234-3223 or fax +7 (495) 232-6529. SWEA, the Swedish Women's Educational Association, invites all Scandinavian-speaking women professionals to AFTER WORK DRINKS at Cafe Pushkin in the bar at the entrance, on Thursday, June 19, from 6:30 p.m. to 8:30 p.m. For more information, contact Maria Sporri-Hedberg, 8-903-112-8831. ENGLISH LANGUAGE EVENINGS will host ""Professor Voland's Cabaret"" by poet David Wansbrough, countertenor Yury Borisov and other singers on Tuesday, June 24 at 7 p.m. at the Chekhov Cultural Center, 6 Strasnoi Bulvar, M. Chekhovskaya. Entrance fee: 50 rubles. For more information, visit www.elemoscow.net . Interesting teachings on Tibetan Buddhism and how to meditate for beginners. We also perform pujas and prayers for those who are sick and people who need success in their life. Reiki teachings and treatments.

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