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

Putin to Lead, But Will Not Join Party
By Anna Smolchenko / Staff Writer President Vladimir Putin on Tuesday agreed to lead United Russia as its new party chairman in a move expected to shore up his political power after he leaves office next month.

Russian Boxers Aim for a Knockout in Dubai
By Alexander Osipovich / Staff Writer When Abdulmalik Gadzhiyev competed in a martial arts tournament in Turkey last year, he fought under the flag of the United Arab Emirates, and his travel expenses were covered by a member of Dubai’s ruling family.

Putin to Visit With Berlusconi
By Francesca Mereu, Max Delany / Staff Writers President Vladimir Putin on Thursday will become the first foreign leader to meet with Italian Prime Minister-elect Silvio Berlusconi since his parliamentary election victory, the Kremlin and Berlusconi’s press office said Tuesday.

Ukraine Vows to Join NATO Despite Kremlin Opposition
By Dmitry Solovyov / Reuters Ukraine said Tuesday that it would press on with attempts to join NATO despite the Russian opposition to the plan, but also assured Moscow this would pose no threat to its security.

Merkel Urges Russia on Court Reforms
The Associated Press German Chancellor Angela Merkel on Tuesday urged Russia to stop blocking reforms of the European Court of Human Rights aimed at eliminating a backlog of nearly 80,000 cases.

Politkovskaya Suspect's Photo Leaked
The Moscow Times A photograph of Rustam Makhmudov, the man identified in media reports as the prime suspect in the 2006 killing of investigative journalist Anna Politkovskaya, was published Tuesday on a Russian web site.

City Orders Removal of Outdoor Ads
By Natalya Krainova / Staff Writer The city government has ordered that all advertisements near certain historical monuments must be removed.

Kadyrov Motorcade in Deadly Shootout
By Simon Saradzhyan / Staff Writer Tensions escalated in Chechnya on Tuesday after loyalists of Chechen President Ramzan Kadyrov and a local commander were locked in a standoff in which four people have already been killed.

Cuban Government Eases Up on Cellular Phone Ownership
The Associated Press Lines stretched for blocks outside phone centers this week as the government allowed ordinary Cubans to sign up for cellular phone service for the first time.

Warsaw Remembers Uprising
The Associated Press The Jewish prayer for the dead echoed Tuesday across what was once the heart of the Warsaw ghetto as Polish and Israeli leaders marked the 65th anniversary of the doomed battle by young Jews against Nazi troops.

Berlusconi Plans His Third Stint in Power
Combined Reports Conservative leader Silvio Berlusconi has scored a decisive victory in Italy's parliamentary elections, setting the colorful billionaire and staunch U.S. ally on course for his third stint as prime minister.

Delta and Northwest to Tie the Knot
Reuters Delta Air Lines will buy Northwest Airlines for more than $3 billion under a proposal to create the world's biggest airline, as carriers seek to counter skyrocketing fuel prices and a weak economy.

73 Killed in Congo Crash
Reuters More than 70 people were killed when a Congolese airliner taking off from the eastern city of Goma crashed and burst into flames in a busy market district Tuesday, witnesses and officials said.

Business

UES Delays OGK-1 Share Sale
Reuters The sale of a controlling stake in electricity producer OGK-1, whose sale could raise as much as $7 billion, will be delayed, Unified Energy System said in a statement Tuesday.

4 RusAl Bauxite Mines Resume Work
By Nadia Popova / Staff Writer Four of the five mines at United Company RusAl's bauxite mines in the Sverdlovsk region resumed operations Tuesday, as more than 5,000 miners agreed to return to work.

Greek Minister Backs South Stream Project
Reuters Greece has agreed to join the Kremlin-backed South Stream gas pipeline project, further boosting energy ties with Russia, Greek Development Minister Christos Folias said Tuesday.

Storchak Publishes Open Letter to Investigaton
Combined Reports Deputy Finance Minister Sergei Storchak, charged with attempting to embezzle $43 million, on Tuesday published a letter that he sent to investigators more than a month ago because they have refused to interrogate him since his detention in November.

Abyzov Joins Race for UES Engineering Assets
The Moscow Times Engineering company E4 Group said Tuesday it would join the race for Unified Energy System's engineering assets at auction next month.

Inter Eyes $2.5Bln Turkey Deal
Reuters Electricity trader Inter RAO wants to take part in a $2.5 billion project to build power stations in Turkey, the head of its would-be partner in the project, energy technology firm Tekhnopromexport, announced Tuesday.

Small Oil and Gas Firms Face Funding Problems
By Tom Bergin / Reuters Small, foreign-owned oil and gas firms operating in Russia face a challenge financing projects, as tightening credit markets and persistent concerns about Kremlin field seizures prompt bankers to withhold lending.

Sedmoi Kontinent Posts 47% Net Profit Increase
Reuters Sedmoi Kontinent, Moscow's largest grocery chain, posted a 47 percent rise in 2007 net profit on Tuesday, while net revenues rose 33 percent on expansion of store outlets and higher like-for-like sales.

PwC Facing New Investigation
By Miriam Elder / Staff Writer A deputy finance minister says the auditing firm’s license terms and requirements are the focus.

Business in Brief

Business in Brief
March Industrial OutputBank St. Petersburg Profit$12.8Bln Auction ThursdayRosneft Increases LoanGazpom Suggests DividendWal-Mart to Study RussiaFor the Record

Rethinking Spheres of Influence
In Winston Churchill's memoirs, he records a meeting with Josef Stalin in October 1944: ""The moment was apt for business, so I said 'Let us settle our affairs in the Balkans. ... So far as Britain and Russia are concerned, how would it do for you to have 90 percent predominance in Romania, for us to have 90 percent of the say in Greece and go 50-50 about Yugoslavia?'

Simply an Issue of Control
By Svetlana Osadchuk / Staff Writer Russian women remain skeptical about oral contraceptives.

Ask the Chef
Alexei Strukov is brand chef of the Kolbasoff chain.

Good Beer at Grossbir
By Nathan Toohey / Staff Writer Grossbir's opening coincided with the opening of Grossbif, which is not surprising since they are both the product of same restaurateur -- Vladimir Pavlov.

Making a Killing by Selling Weapons
We liberals have been wrongfully slandering the state for its attacks on various businesses.

News in Brief
Irkutsk Governor ResignsUltranationalist ChargedU.S. Concern Over LawyerBear Traumatized

An Early Assessment of Putin's Foreign Policy
President Vladimir Putin's participation in the NATO summit in Bucharest and his talks with U.S. President George W. Bush in Sochi marked the final foreign policy episode in his two terms.

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