The Moscow Times

News

Putin Offers Cash to Worried Nation
By Nabi Abdullaev / The Moscow Times Prime Minister Vladimir Putin spent more than three hours Thursday afternoon trying to calm Russians concerned that they may be victimized by yet another economic crisis, promising to pour billions of rubles into social programs.

Premier Sees No Election Before 2012
By Anatoly Medetsky / The Moscow Times Prime Minister Vladimir Putin rejected two of the most persistent theories about his political future -- that he planned to resign as prime minister or was planning an early return to the presidency.

United Russia Seeks International Exposure
By Nikolaus von Twickel / The Moscow Times United Russia has also been looking for some international recognition -- but without much success.

Duma Looks to Limit Trials by Jury
By Francesca Mereu / The Moscow Times The State Duma on Friday is to consider in a first reading a bill that would eliminate jury trials for cases involving terrorism, espionage and attempts to overthrow the government.

Medvedev Heading to Italy To Pick Up Keys to Church
The Moscow Times President Dmitry Medvedev on Saturday will stop in Bari, in southern Italy, where Italian President Giorgio Napolitano is expected to hand over the keys to a Russian Orthodox Church complex that has belonged to Italy for decades.

Investigators Raid Memorial Office
Reuters Masked state investigators raided the offices of the Memorial human rights group on Thursday and seized computers in what the group's staff said was a hunt for material deemed extremist.

U.S. Calls Russia's Pact Anti-NATO
Reuters Russian proposals for a new security pact in Europe are redundant and an attempt to weaken NATO, a senior U.S. diplomat said Thursday.

Businessman Held in Girl Sex Case
By Joann Loviglio / The Associated Press A wealthy Russian-born businessman from suburban Philadelphia has been charged with traveling to orphanages in St. Petersburg to molest young girls and hire them out as prostitutes in Moscow.

Business

Reading Tea Leaves For Sign of Patriarch's Successor
For the first time since the fall of the Soviet Union, the Russian Orthodox Church will begin the process of choosing a new leader.

UBS Adapting Business Model for Tough Times
By Maria Levina / Special to The Moscow Times Hermann Prelle, UBS co-head of investment banking for Europe, the Middle East and Africa, lays out the bank's plans for Russia.

Surprise $5Bln Jump In Foreign Reserves
By Courtney Weaver / The Moscow Times Catching market players offguard, the country's foreign reserves rose by $5 billion last week, their first reported gain since the crisis took off in late September.

India Visit to Focus on Defense Ties
Combined Reports President Dmitry Medvedev arrived in New Delhi on Thursday for a three-day visit that is expected to see Russia lease nuclear-powered submarines to India as part of deepening defense ties.

Wimm-Bill-Dann Looking for Loans
Bloomberg Wimm-Bill-Dann, the country's largest dairy company, said it is seeking bank loans for expansion and that local retailers are not delaying payments.

Uralkali's Shares Soar After Trutnev Speaks in Its Favor
Reuters Shares of Uralkali soared on Thursday after a minister said it should not be blamed for a mining accident, easing investors' fears that a new probe would lead to a state asset grab.

Gas Flaring Reduction Deadline Postponed
Combined Reports The country has delayed its plan to reduce gas flaring to 5 percent within three years to 2014, Natural Resources Minister Yury Trutnev said on Thursday.

Mechel Gets 15Bln Rubles From VTB
The Moscow Times Mechel, the country's largest coking coal producer, received a 15 billion ruble loan from state-run VTB, the company said Thursday.

MOEK Makes Bid on MTK Shares
Bloomberg Moscow Integrated Power Company, the utility operating generators, power lines and retailers in the capital, offered to buy the shares in Moscow Heating Distribution Company it did not already own for $131 million.

U.S. Court Upholds Alfa Group Fine Ruling
Reuters A U.S. federal court has ruled again in favor of Norwegian telecom group Telenor in a dispute against Alfa Group, rejecting an Alfa motion to delay fines imposed last month, the court's decision showed. The ruling is part of a long-running legal and boardroom battle between Telenor and Alfa over strategy and control of their two mobile telecom ventures, Vimpelcom and Ukrainian operator Kyivstar.

Opinion

Devaluation a Good Step Toward Ruble Float
The Central Bank announced that it was widening the band in which the ruble may fluctuate against the dollar/euro basket exchange rate by around 30 kopeks, its second such decision in recent weeks. Unsurprisingly, in an environment of capital outflow and as the current account is moving into negative territory, this "widening" can only mean one thing: a move toward depreciation.

Business in Brief

Business in Brief
Unknown MT Publisher Appeals Suit; RZD Shipping to Fall 19%; Aricom Curbs Mining; Lebedev Wants All Aeroflot; Serbia Requires Pipeline; Ruble Reaches New Low; VTB Gives Carmakers Loans.

Driving Translators to the Goat Farm
Every once in awhile, I consider giving up translation and starting a goat farm. Goats are nice. If you give them food and milk them on time, they're happy. And best of all, they never argue with you about your translation or your strange desire to be paid for your work.

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