I continue to be amazed by the small but significant way that U.S. southwest painter Nicolai Fechin's biography dovetails with my own. As stories of relationships go, this one is small. But I'm too big a fan of paradox to ignore it. I grew up, as I enjoy telling people, in a desert. The Mojave Desert is a huge swath of dirt, tumbleweed and Joshua...

Sweden’s Loreen won the Eurovision Song Contest in Azerbaijan on Sunday before an international TV audience of 100 million, days after angering Azeri authorities by meeting rights activists critical of the host country’s human rights record. Correction appended BAKU, Azerbaijan — Sweden’s Loreen won the Eurovision Song Contest in Azerbaijan on Sunday before an international TV audience of 100 million, days after angering Azeri authorities by meeting rights activists...

President Vladimir Putin urged partners in the Gazprom-led Shtokman gas project to speed up a final investment decision. President Vladimir Putin urged partners in the Gazprom-led Shtokman gas project to speed up a final investment decision. "So far, there has been no final decision on Shtokman, but we have to...

After last week's talks in Baghdad, Iran and world powers have agreed to meet again in Moscow on June 18 and 19 for more talks to try to end the long-running dispute over Tehran's nuclear program. (Reuters)

... government order published Friday by Rossiiskaya Gazeta. Diplomas from 210 foreign universities will now be acknowledged in Russia without an additional state evaluation, according to a government order published Friday by Rossiiskaya Gazeta. The selected universities, which represent 25 countries, have been featured on such lists as the Academic Ranking of World Universities, the QS World University Rankings and the Times Higher Education World University Rankings. The government-approved list...

Magnitogorsk Iron & Steel Works said Friday that shareholders approved its board of director's decision to pay no dividends for 2011. (Reuters) Torgovy Dom Tsentrobuv, Russia's biggest shoe retailer, signed a 5 billion ruble ($157 million) loan agreement with Sberbank until May 22, 2015, the retailer said on its website. (Bloomberg)

... tens of billions of rubles' worth of contracts for road construction in Moscow without competition. All the roads around Skolkovo will be built by the company belonging to President Vladimir Putin's close friend and judo partner. Medvedev signed a decree on the contracts on April 25, less than two weeks before he left office. The document was actually signed at the request of Moscow Mayor Sergei Sobyanin because it will speed up construction of roads for the G8 summit in Skolkovo in 2014, Medvedev's...

Power-generating company Quadra, formerly known as TGK-4, said Thursday that its 2011 net income declined 64 percent to 900 million rubles ($28.38 million), while revenues rose 13 percent to 40.2 billion rubles, and EBITDA increased 13 percent to 4.4 billion rubles. (Reuters) An offer by fertilizer maker Acron to buy up to 66 percent in Polish chemicals...

The International College of Economics and Finance, established jointly by the London School of Economics and the Higher School of Economics (Moscow), is inviting applications for part-time teaching positions in Economics, Finance, Statistics, Mathematics, Humanities (taught in...

In line with a recent appeal by President Vladimir Putin, the General Prosecutor's Office has created a special division for upholding the rights of entrepreneurs. In line with a recent appeal by President Vladimir Putin, General Prosecutor Yury Chaika has created...

A Russian An-30 military jet caught fire at an airport in the Czech town of Chaslav, after the plane suffered a malfunction with its landing gear. No one was killed, but most of the passengers were injured. A Russian An-30 military jet caught fire at an airport in the Czech town of Chaslav, after...

Transaero may double dividends paid to shareholders for 2011 when the company's board of directors votes on increasing the payments to 44 kopecks per share at their June 23 meeting. Transaero may double dividends paid to shareholders for 2011 when the company's board of directors votes on increasing the payments to 44 kopeks...

A headmaster from a Chelyabinsk school caused a storm Wednesday when it became known that he refused a police request to draw up a list of his students' ethnicity — arguing that the only ethnicity at his school was math. A headmaster from a Chelyabinsk school caused a storm Wednesday when it...

Two Cabinet members who served under former President Dmitry Medvedev will spearhead efforts to pump life into the economies of Abkhazia and South Ossetia. Two Cabinet members who served under former President Dmitry Medvedev will spearhead efforts to pump life into the economies of Abkhazia and South Ossetia. Tatyana Golikova, the former health and social...

... and consider monetary tightening while oil prices are high and inflation is benign. PARIS — Russia needs to speed up its fiscal consolidation and consider monetary tightening while oil prices are high and inflation is benign, the Organization for Economic Cooperation and Development said Tuesday. The OECD raised its forecast for Russia's gross domestic product growth to 4.5 percent for this year from an earlier 4.1 percent. It left its 2013 GDP growth forecast unchanged at 4.1 percent. "The...

... finance expenses. (Reuters) Standard & Poor's Ratings Services on Tuesday affirmed its long-term issuer credit rating on the City of Ufa at BB- and its Russia national scale rating on the city at ruAA- with a positive outlook. (MT) A Sochi court has decided not to fine the Basic Element investment group, responsible for the renovation of Sochi International Airport before the 2014 Winter Olympic Games, 14.7 million rubles ($471,500) for "failing to meet conditions of the renovation agreement...

Kremlin heavyweight Igor Sechin was put back in charge of Rosneft on Tuesday, a year after he had the reins of the oil giant yanked from his hands under orders from then-President Dmitry Medvedev. Kremlin heavyweight Igor Sechin was put back in charge of Rosneft on Tuesday...

... of international M&A transactions to properly allocate such risks: the due diligence investigation of target companies, warranties and indemnities, disclosure letters, purchase price adjustments, escrow accounts, etc. Although these risk allocation mechanisms are common practice in foreign jurisdictions, they are not developed in Russian law. Traditionally, most M&A deals involving Russian assets are done under English law. The laws of other jurisdictions, such as New York or Dutch law, also serve...

It is well known by now that most Russian M&A transactions, especially private equity deals, are governed by English law. Dmitry Koronchik Senior Associate, Head of Private Equity Group Pepeliaev Group It is well known by now that most Russian M&A transactions, especially private equity deals, are governed...

As analysts have pointed out, the prompt Russian economic recovery and subsequent oil price escalation caused an increase in M&A activity in 2011. Amid the global financial crisis and the economic downturn in Europe and the United States, the Russian economy is especially attractive for foreign investors...