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

Accord Signed in TNK-BP Standoff
By Miriam Elder / Staff Writer BP signed a deal with its billionaire partners in TNK-BP on Thursday, laying the groundwork for an end to a bruising dispute over control of the firm that has fanned fears among investors of doing business in Russia.

A Crisis Brewing in the Classrooms
By Anna Malpas / Staff Writer When economics student Mikhail Popov struggled with a final exam at a regional university, he was offered an alternative — pay $200 and get a good grade.

Recognition a Lonely Exercise for Moscow
By Nabi Abdullaev / Staff Writer Ten days after Russia recognized South Ossetia and Abkhazia as independent states, the only other country to have followed suit as of Thursday was that Cold War battlefield of the 1980s: Nicaragua.

News in Brief
Access for OSCE MonitorsUkraine Closer to Polls

A State School for 30 Bright Children
By Anna Malpas / Staff Writer A stuffed magpie perches on the blackboard of the biology room at Intellektual School, while a snake curls round a branch in a tank.

Son of Former President Held
Reuters Georgian police have arrested a son of the country's first post-Soviet leader, Zviad Gamsakhurdia, on charges of trying to overthrow pro-Western President Mikheil Saakashvili, a senior government source said Thursday.

American Teacher Denies Spying in South Ossetia
By William Foreman / The Associated Press Russian officials say Michael Lee White was a U.S. agent involved in the recent fighting between their troops and Georgia. They claim to have found the Army veteran's passport in the country.

Cheney Slams Russia Over War
By Steve Gutterman / The Associated Press Demonstrating Washington's support for war-ravaged Georgia, U.S. Vice President Dick Cheney condemned Russia for what he called an ""illegitimate, unilateral attempt"" to redraw this U.S. ally's borders by force.

Business

NLMK to Buy Beta Steel for $400M
By John Wendle / Staff Writer The Russian steel giant agrees to pay cash for the U.S. asset, located near the pipe manufacturer it purchased in August.

Central Bank Drops $4Bln to Prop Ruble
By Toni Vorobyova, Andrey Ostroukh / Reuters The Central Bank stepped into the market and sold up to $4 billion on Thursday to brake the ruble’s fall, while shares went into free-fall despite a much-awaited shareholder peace deal on oil company TNK-BP.

Severstal H1 Net Profit Jumps 69%
By Nadia Popova / Staff Writer Russia’s largest steelmaker announced a 69 percent rise in first-half net profit to $1.9 billion Thursday, a company record.

Yacht Dealers Drop Anchor in Moscow
By Maria Antonova / Staff Writer White yachts gleamed in the early-autumn sunshine as multimillionaires strolled past producers and dealers of the luxury boats at a converted water-sports complex along the Moscow River.

30 Arrested In Pirated DVD Bust
By Anna Malpas / Staff Writer City police have arrested 30 suspects and confiscated 1 million pirated DVDs as part of a criminal investigation targeting a company registered in the U.S. state of Delaware, a police spokesman said Thursday.

Chichvarkin Goes to Bat for Employees
By Courtney Weaver / Special to The Moscow Times Dressed in a hippie-style tunic, white jeans spattered with pastel-colored graffiti and rainbow-striped socks, Yevroset chairman Yevgeny Chichvarkin looked more like a gaucho en route to a siesta than someone defending his employees against charges of extortion and kidnapping.

Atlant Soyuz Seen Acquiring AiRUnion
The Moscow Times Troubled airline alliance AiRUnion will be folded into Atlant Soyuz, an airline owned by the Moscow city government, and move its base to Vnukovo Airport, Interfax reported Thursday, citing sources familiar with the situation.

Comstar Sees Profits Jump in Q2
Combined Reports Comstar United Telesystems, billionaire Vladimir Yevtushenkov’s telecoms company, said Thursday that second-quarter profit climbed 74 percent as demand for broadband surged.

Business in Brief
GDP Growth Falls to 6.9%Bridge to Russky IslandSberbank to Raise $1.2BlnRussia to Boost Japan TiesYamal-Europe Back on LineGazprom Neft in AstanaExchange to Trade Jet Fuel

Opinion

Independent at Last
Aug. 26 was a day of historic importance for our people.

Michele A. Berdy: When Your Tongue Is the Real Enemy
Reading newspapers and blogs is bad for your health. It raises your blood pressure and lowers your immunity.

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