The Moscow Times

Market Matters: As Conflict Ends, Markets on Road to Recovery
After tumbling to its lowest point in almost two years on Tuesday, Russia's MICEX Index began to slowly claw its way back over the rest of the week, suggesting a possible end to the volatility that has plagued the country's markets since tensions erupted between Russia and Georgia on Aug. 8.

News

Medvedev Gets Kudos From G8 Peers
By Anna Smolchenko / Staff Writer His first meeting with Gordon Brown focuses on the TNK-BP dispute and improving relations between their countries.

Moscow Hit With Burst of Road Rage
By Alexi Shaw / Special to The Moscow Times Alexander Lavrushin was crossing Prospekt Vernardskogo on his way to class at Moscow State Pedagogical University when the driver of a Mercedes coupe stopped his car, got out and punched him twice in the face.

A New Day for Family, Love and Fidelity
By Anna Malpas, Jeremy Ventuso / Special to The Moscow Times Russians already splurge on tulips for International Women’s Day and heart-shaped knickknacks for St. Valentine’s Day.

News in Brief
Soldier Kills 3, SelfCounterterrorist OperationCop Runs Over PedestriansFor the Record

Powerful Explosion Kills 4 in Abkhazia
The Associated Press A powerful explosion killed four people and wounded five in Georgia’s breakaway region of Abkhazia, a top security official said Monday, accusing Georgia of being behind the attack. It was the fifth bombing in a week in or near Abkhazia.

African Leaders Call on G8 To Honor Promises of Aid
Reuters African leaders urged the Group of Eight on Monday to keep promises to help their continent and pleaded with them to remember that soaring oil and food prices were making their poverty worse.

2 Officials Close to Baluyevsky Quit
The Moscow Times Two top military officials have resigned after the recent ouster of General Staff chief Yury Baluyevsky, Interfax reported Monday.

Blogger Handed Suspended Sentence
By Marianna Tishchenko / Special to The Moscow Times The Syktyvkar City Court handed blogger Savva Terentyev a one-year suspended prison sentence Monday for a controversial post he made last year, saying police officers should be ""periodically set on fire"" in city squares, ""like in Auschwitz.""

Actress Who Played Ideal Soviet Woman Dead at 82
AP, Bloomberg, MT Nonna Mordyukova, a celebrated Russian actress, has died in Moscow at the age of 82, the Kremlin said in a statement Monday.

Grabovoi Found Guilty, Gets 11 Years
By Natalya Krainova / Staff Writer Moscow's Tagansky District Court found cult leader Grigory Grabovoi guilty of 11 counts of fraud Monday and sentenced him to 11 years in prison, but not before the proceedings were delayed for two hours by a bomb threat, Interfax reported.

3 Rounds of Talks Before EU Summit
The Moscow Times Negotiators hammering out a new partnership agreement will hold three rounds of talks before the next EU-Russia summit in November in France, diplomats said Monday.

Maliki Hints at Withdrawal Timetable
Reuters Iraqi Prime Minister Nouri al-Maliki raised the prospect on Monday of setting a timetable for the withdrawal of U.S. troops as part of negotiations over a new security agreement with Washington.

Ministers Axed Over Korea Beef
The Associated Press South Korea's president replaced three ministers Monday amid the fallout from a much-criticized U.S. beef import deal, but left his Cabinet largely intact despite their offer to resign to stem weeks of anti-government protests.

Blast Kills 41 at Indian Embassy
Reuters A Taliban suicide car bomb hit the Indian Embassy in Kabul on Monday, killing 41 people and wounding 139, in an attack Afghan authorities said was coordinated with foreign agents in the region, a likely reference to Pakistan.

Business

TNK-BP Chief Dudley Survives Vote on Ouster
The Moscow Times The Russian shareholders who own half of TNK-BP on Monday failed to dismiss the firm’s American CEO, Robert Dudley, who they argue has run the venture in favor of 50 percent shareholder BP.

Potanin to Lead Norilsk Board
By Nadia Popova / Staff Writer Denis Morozov loses his post as the company’s chief executive and is replaced by Interros deputy general director Sergei Batekhin.

Sechin Orders Access to Gas Pipelines
Bloomberg Deputy Prime Minister Igor Sechin gave Gazprom a month to grant other gas producers greater access to its pipeline network, Kommersant reported, citing industry sources.

Nazarbayev's City, 10 Years On
By Maria Golovnina / Reuters If there is one thing Kazakh President Nursultan Nazarbayev cherishes as part of his legacy, it is the gold-plated extravagance of his new capital, Astana.

Modernized Spa Rises On Predecessor's Plot
By John Wendle / Staff Writer A multiuse facility on Novy Arbat is to include a state clinic and research center.

Hydropower, Rail Shortages Will Likely Hit Coal Exports
Reuters Russia’s hydropower levels have fallen to the lowest in 16 years and coal-fired plants are struggling to take up the slack because a chronic rail wagon shortage is making it hard for them to get enough fuel, the country’s coal exporters said Monday.

OGK-1 Says Dubai Faces Rival Bidder
Reuters Electricity generator OGK-1 said Monday that there was a second potential buyer for a controlling stake in the company, and a previously announced deal involving Dubai World was conditional.

TGK-11 to Appeal Rosneft Court Win
By Nadia Popova / Staff Writer Power producer TGK-11 said Monday that a Moscow court’s ruling could leave some Siberian residents without heat and electricity as soon as this winter, and promised to appeal the decision calling its merger illegal.

Wet Weather Delays Grain Harvesting
Reuters A massive grain harvesting campaign in the south of the country has been delayed because of rainy weather, while prices of old crop grain kept declining last week, analysts said.

Business in Brief
June Inflation at May's PaceUnited Seeks Route's DelayOGK-6 Output Up 30%Trade Surplus Nears $90BlnNaftogaz Said to Owe $2BlnVester Plans New StoresFor the Record

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