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.

News

Kremlin Makes Its Case With Tskhinvali Tour
By Anna Smolchenko / Staff Writer Under the standards of information warfare, it was an easy job by all accounts.

EU Links Talks to Georgia Pullout
By Nabi Abdullaev / Staff Writer The European Union said Monday that it would postpone talks on a partnership agreement with Moscow until Russia withdrew its troops from Georgia.

Prokhorov Tells Students How to Get Rich
By Nadia Popova / Staff Writer Billionaire Mikhail Prokhorov on Monday advised students at the government's Financial Academy that going into private business, rather than working for the state, was the best way to get rich and join him on the Forbes list.

Ukrainians Wary of Both Sides
Reuters Many Ukrainians would rather not support either side in Russia's conflict with Georgia over its breakaway regions South Ossetia and Abkhazia, a poll showed on Monday.

News in Brief
Fire at Pekin RestaurantIran Denies Missile Report

Alaska's Proximity to Russia Called a Plus
Combined Reports The wife of Republican U.S. presidential candidate John McCain defended the national security qualifications of her husband's running mate, Alaska Governor Sarah Palin, citing Alaska's proximity to Russia.

1 Million Georgians Rally Against Moscow
Reuters More than 1 million people across Georgia protested Russian military action and the Kremlin's backing for the country's two separatist regions.

Lavrov Warns West on Georgia
By Mansur Mirovalev / The Associated Press Foreign Minister Sergei Lavrov warned the West on Monday against supporting Georgia's leadership and called for an arms embargo against Tbilisi until a different government is in place.

Hundreds Remember Slain Web Site Owner
By Natalya Krainova / Staff Writer Hundreds of people took to the streets in Ingushetia on Monday to commemorate owner of the embattled opposition web site Ingushetiya.ru, who was killed by local police a day earlier and whose relatives swore revenge.

Business

Putin Touts Economic Ties With Asia
By Anatoly Medetsky / Staff Writer Prime Minister Vladimir Putin traveled to Vladivostok, in the country’s Far East, on Monday to tout Russia’s ties with Asia as a counterpoint to its diplomatic dispute with the West over Georgia.

Australian Uranium Deal at Risk
Reuters Australia said Monday that it was reconsidering a deal to sell nuclear fuel to Moscow after Russia's military incursion into Georgia.

Perceptions of Risk Hurt Bond Market
By Courtney Weaver / Special to The Moscow Times While tensions with the West appeared to be cooling after the European Union decided not to impose sanctions against Moscow on Monday, Russian companies hoping to attract international lenders are still reeling from the perceived political risk.

Business in Brief
Parole Ruling AppealedUralkali H1 Profit TriplesMechel Cuts Domestic PriceVimpelCom 3G ServiceTNK-BP Eyes TurkmenistanBasEl-Japan Energy DealFor the Record

St. Pete Seeks New Contractor for Zenit Stadium
The Moscow Times City Hall has said it will choose a new contractor to build a stadium for Zenit on Krestovsky Island because of the project's rising costs and has also expressed hope that Gazprom will finance half the work.

AFI Almost Doubles H1 Profit
Reuters AFI Development, a Russia-focused real estate company, almost doubled its net profit to $97.3 million in the first six months of 2008 on high demand for residential property in Moscow, the company said Thursday.

SRV Chief Optimistic on Expansion in Russia
Bloomberg SRV Group, a Finnish developer that sold shares last year, has increased its Russian investments and said its plans to expand there were not hindered by the country's political standoff with Europe and the United States.

Finns Cashing In as Russians Snap Up Cottages
By Kati Pohjanpalo / Bloomberg Arja Viitikko agonized before selling her home and land to Russians. Then she took the money.

Magnit Racing to Open Outlets
By Maria Ermakova, Ellen Pinchuk / Bloomberg Magnit, the country's second-largest supermarket chain, is opening a store every 27 hours to keep pace with demand and may post a record $5.5 billion in sales this year, billionaire founder Sergei Galitsky said.

Firm Tries to Ease EU Gas Fears
Reuters Newly merged French energy group GDF Suez sought to defuse the threat of a rift with Russia over gas supplies as European Union leaders thrashed out a response to Moscow's intervention in Georgia.

Export Tax on Crude to Be Cut by 2%
Reuters A Finance Ministry official said Monday that the country would cut its oil export duty by 2 percent from October -- the first decrease in a year -- as global oil prices fall.

Turkey Begins Trade Curbs
Reuters Turkey began curbing Russian imports Monday as tensions over Georgia strained NATO's relations with Moscow.

Schism Over War Hits Ukrainian Bonds
Bloomberg Ukrainian bonds fell, pushing the 10-year yield to a record high, amid concern that the government may collapse.

Real Estate in Brief
PIK Buys Krasnodar LandTashir Borrows $150MDeripaska's Moskva-City

Opinion

There Is No Such Thing as Post-Soviet Space
Since the collapse of the Soviet Union, it has seemed that new rules were being established for the conduct of international relations in Central and Eastern Europe and Central Asia. The watchwords were independence and interdependence; sovereignty and mutual responsibility; cooperation and common interests. They are good words that need to be defended.

Nikolai Petrov: Andropov's Ghost Lives On
The open hostilities of the Georgian war have settled down, but the war of interpretations is still being fought.

Konstantin Sonin: Russia's Bronze Medal In International Affairs
Some people consider it a failure that Russia came in third in the medal count at the Beijing Games. Others feel that this was an honorable finish.

Op-Ed Contributor: The SCO's Rising Power
One of most discussed aspects of the Shanghai Cooperation Organization summit in Dushanbe over the weekend was the third point of the summit declaration devoted to the situation in South Ossetia.

City Wise

City Hall Invites Kids to The Party
By Marina Kamenev / Staff Writer With 2008 designated as ""Year of the Family,"" the City Day celebrations this weekend offer a number of events and activities for children and their parents.

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