The Moscow Times

Business: RenCap Cuts RTS '08 Target to 2,350
Renaissance Capital on Monday slashed its year-end forecast for the benchmark RTS Index from 3,000 to 2,350 and increased its equity risk premium for the country from 4 percent to 5.5 percent in a sign of continued investor jitters.

Business

Ticket Sales Slump for Western Acts
By Vladimir Kozlov / Reuters The Sex Pistols and Lenny Kravitz are among the acts that have struggled to sell tickets as Russians' appetite for Western music fades.

Lavrov Denies Singling Out Turkey
By Murad Sezer / The Associated Press Foreign Minister Sergei Lavrov insisted Tuesday that strict new import measures were not aimed at punishing NATO-member Turkey for allowing U.S. warships to steam through its waters to deliver aid to Georgia.

Oil Pushes LUKoil, Rosneft Down, Banks Up
By Courtney Weaver / Special to The Moscow Times Oil prices fall as the threat from Hurricane Gustav recedes, while banks gain on hopes of lower inflation.

Bank Sees Lower '09 Inflation
Bloomberg Russian inflation will probably slow to below 10 percent next year, in line with a call by Prime Minister Vladimir Putin, UralSib said Tuesday.

Ruble Hits 7-Month Low Against Resurgent Dollar
Bloomberg The ruble fell to the lowest level against the dollar in seven months as oil prices dropped and investors remained wary after Russia's conflict with Georgia.

Exxon Hikes Sakhalin-1 Forecast for This Year
Bloomberg ExxonMobil forecast annual production of 9.2 million tons (185,000 barrels per day) in 2008 from the offshore Sakhalin-1 oil and gas development, up from its earlier estimate, Interfax reported Tuesday.

BP Pipeline 'Undamaged'
Bloomberg BP said Tuesday that the Baku-Supsa pipeline, which transports crude from Azerbaijan to Georgia’s Black Sea, coast was “undamaged” and was closed because of security concerns.

Ukraine Faces Trade Review Over Its WTO Entry
Bloomberg The Economic Development Ministry may change the terms of its trade agreements with Ukraine because of Kiev's entry into the World Trade Organization, a ministry official with direct knowledge of the review said.

Mechel Guns for German Metals Deal
By Nadia Popova / Staff Writer Mechel, the country’s biggest coking coal producer, is seeking German anti-monopoly approval to acquire indirect control of metals trader HBL Holding, the German Federal Cartel Office said Tuesday.

AiRUnion Passengers Stranded
The Moscow Times Hundreds of passengers were stranded around the country Tuesday due to delayed AiRUnion flights, as airports keep planes grounded because of the company’s outstanding debt.

Tajikistan Returns to Rationing Electricity
Combined Reports Electricity rationing is returning to Tajikistan, with cuts nationwide every night from 10:30 p.m. to 3:30 a.m., except in the capital and district centers, the head of the national power company said Tuesday.

MegaFon Signs Deal to Sell Apple's iPhone 3G
Bloomberg MegaFon, the country’s third-largest mobile phone company, said Tuesday that it signed an agreement to sell Apple’s iPhone 3G in Russia.

Business in Brief
New Kovykta CheckUralkali Mulls BuybackNovolipetsk Seeks $2BlnLandmark VAT RulingGrain Harvest Up 37%

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