The Moscow Times

Market Matters : Oil and Metals Shine as RTS Breaks 2,100
The RTS, the country's benchmark stock index, breached the 2,100 barrier for the first time this year, as oil and metal stocks pulled away from the field.

Putin's Legacy : How the State Got a Grip on Energy
It was early March 2000 when Vladimir Putin landed in Surgut, one stop on a long campaign trail that would help take the acting president to the official seat in the Kremlin.

News

Napoleon Survivor Loses to Bureaucrats
By Anna Malpas / Staff Writer The stables of the Khamovniki barracks survived the Napoleonic wars, but they are losing the battle of the bureaucrats.

Bush to Talk Up NATO on Kiev Visit
By Maria Danilova / The Associated Press U.S. President George W. Bush's visit to Ukraine will bolster its chances of starting the process toward NATO membership, U.S. Ambassador William Taylor said Monday.

Caucasus Skiing Idyll the Olympics Forgot
By Catrina Stewart / Staff Writer High up on the slopes of this idyllic mountain retreat, it is easy to forget that the ski resort of Dombai lies at the heart of the volatile North Caucasus.

Conscripts Face Only a Year in Spring Call-Up
By Natalya Krainova and Alexander Osipovich / Staff Writers As the military kicks off its spring call-up campaign Wednesday, conscripts can look forward to just one year of compulsory service, a reduction from the two years that have been standard in Russia for most of the past four decades.

Suspect Says Slain Reporter Offered Him Money for Sex
The Associated Press Two Tajik men have admitted to robbing and killing Channel One journalist Ilyas Shurpayev in his Moscow apartment, with one claiming that the victim had earlier offered him money for sex, an official said Monday.

2 Accidents Snarl Downtown Traffic
The Moscow Times A local businessman was killed Monday morning after his Opel Astra hatchback collided with a KamAZ truck in one of two accidents that snarled traffic in central Moscow.

Kremlin Plans Tunnel To the White House
The Moscow Times The government is considering an ambitious plan to dig an enormous tunnel linking Dmitry Medvedev's Kremlin and Vladimir Putin's White House, speeding up the impending cross-town trip for ministers and high-ranking officials, two officials said Monday.

Ivanovo Becoming A City of Mothers
By Yuriy Humber / Bloomberg Known as the country's ""City of Brides,"" the former home to Soviet-era textile mills has a birthrate well above the national average.

Zimbabwean Opposition Claims Lead
The Associated Press The opposition claimed Monday to be leading by a wide margin in Zimbabwe's presidential and parliamentary balloting, but only a few official results had been released, heightening fears that President Robert Mugabe's regime planned rigging to hold onto power.

Musharraf Swears In Cabinet
The Associated Press President Pervez Musharraf Monday swore in a new Pakistani Cabinet made up of political opponents who have pledged to slash the U.S.-backed leader's once-sweeping powers.

Olympic Torch Relit, Stirs Protest
The Associated Press Chinese President Hu Jintao presided over the relighting of the Olympic torch Monday in the host city, Beijing, signaling the start of an around-the-world torch relay that already has become a magnet for protesters.

News in Brief
Good Review for MedvedevAbbas Coming to MoscowHelicopter Crash Kills 3Czechs May Announce DealKosovo Aid on the Way

Business

Electricity Prices Seen Rising More Quickly
By Tai Adelaja / Staff Writer The government will look again at its planned hikes in domestic electricity prices for business users because the unregulated prices are rising more quickly than anticipated, Federal Tariffs Service chief Sergei Novikov told reporters Monday.

Gazprom Calls for Long-Term Deals
By Miriam Elder / Staff Writer Gazprom deputy CEO Alexander Medvedev warned Monday that plans to boost gas production at home depended on signing long-term contracts with Europe, as the state-run monopoly said it would increase capital investment to record levels over the next two years.

Finance Ministry Unveils Oil and Gas Tax Breaks
Reuters The Finance Ministry unveiled a series of tax-break proposals for oil and gas industries on Monday as part of its fiscal policy strategy for 2009-2011.

RenCap Sees Oil Output Up 0.5%
Reuters Russian crude oil output will recover slightly early this year after a recent fall but will plateau after that, Renaissance Capital said in a report on Monday.

Surgut Reports 15% Rise in Net Profit
Reuters The country's fourth-largest oil firm, Surgutneftegaz, reported a 15 percent rise in net profit in 2007, despite falling oil production, and said on Monday it would increase its dividend by 14 percent.

Alrosa Eyes Africa's Vast Resources
Bloomberg Alrosa, the world's second-largest diamond miner, on Monday said it would vie for control of African resources, including diamonds, oil and gas.

Timber Duty to Rise, Despite EU Qualms
By Gleb Bryanski and Darya Korsunskaya / Reuters Russia will introduce a planned increase in timber export duties effective from Tuesday despite strong objections from the European Union and the risk it could hurt its chance of entering the World Trade Organization.

SPI May Sell Stolichnaya Brand
By Maria Ermakova / Bloomberg SPI Group, the owner of Stolichnaya vodka, may decide to sell the brand after its partnership with Pernod Ricard ends, said Andrei Skurikhin, a minority investor and a former general director of the Russian company. ""SPI has always had a number of strategic options for Stolichnaya,"" Skurikhin said today by phone. ""A sale is one of the possible options, but is not the only one.""

Finland's Ruukki to Make 2nd Bid for Mill
By Diana ben-Aaron / Bloomberg Ruukki Group Oyj, a Finnish wood supplier, said the company would make a second bid to develop a new mill in Russia after a prior proposal was rejected.

RusAl Expects Norilsk Deal by End of April
Reuters United Company RusAl, the world's No.1 aluminum producer, said on Monday that it expected to complete a deal to buy a stake in the metals group Norilsk Nickel before the end of April.

Apartment Prices Up 1.2% for Week
The Moscow Times Real estate prices continued their steady climb last week, with an overall index for Moscow prices gaining 1.2 percent in dollar terms, IRN.ru said Monday.

Few Choices on Pricey Expat Rental Market
By John Wendle / Staff Writer The high-end market for foreign residents offers particular challenges, including finding new, central buildings.

Real Estate in Brief
Raven's $170M VTB LoanPIK Opens Unit in UkraineDubai World Eyeing RussiaNew Ministry Housing PlanECM to Invest $458M in '08Kazakh Bank Hires AuditorLSR Concrete Buy ApprovedPolnord Sees Profit RisingOrco '07 Profit Down 9.5%

Business in Brief
Troika Plans $1Bln FundNord Stream Budget RisesShtokman to Cost $40BlnGazprom Delays Oil FieldLong-Distance May RiseLufthansa, Malev Moving

Opinion

Bush Coming to Sochi With Hat in Hand
By Peter Lavelle U.S. President George W. Bush will meet President Vladimir Putin for the last time in Sochi this weekend. The agenda is full of contentious issues -- Kosovo, anti-missile defense, NATO expansion and the state of Russian-U.S. relations. As the presidents bid their farewells, it is worth reflecting on the relationship.

NATO Door Must Be Open
By Lech Kaczynski In 1999, three Central European states that had been behind the Iron Curtain for half a century were accepted into the NATO: Poland, the Czech Republic and Hungary. That decision implied the beginning of the end of the Cold War division of Europe.

The Inflation Bogeyman
By Konstantin Sonin One could argue at length about whether Russia's current leaders came to power through a lawful election following constitutional procedure or whether they relied on undemocratic methods to establish and maintain authority.

City Wise

Looking for a Handout
By Svetlana Osadchuk / Staff Writer It's spring cleaning time again, and many charities around Moscow are happy to accept donations.

Like Sugar 'n' Spice
By Nathan Toohey / Staff Writer Nice Cafe is one of those Moscow restaurants that resemble an opulent boudoir belonging to some decadent European aristocrat. Its over-the-top interior spares no gilding in its pursuit of pretentiousness. The rich red color scheme is trimmed with ample gold highlighting, and numerous works of art grace the walls. As is flavor of the moment, there are plenty of paisley swirls patterned across the walls and furniture. It's certainly nothing if not sumptuous.

Herring Salad With Onion Sauce, Ruccola, Borodino Croutons and Sunflower Seeds
Chef's Secrets

Light Up Your Day
By Maria Antonova What to Do

Real Estate

AFI Says 2007 Profit Jumps 93%
Reuters AFI Development, a Russia-focused real estate company, said Thursday that its 2007 net profit rose by 93 percent to $215.6 million on the back of strong demand for commercial and residential properties.

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