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

Medvedev Praises EU Over Sanctions
By Simon Saradzhyan / Staff Writer President Dmitry Medvedev on Tuesday praised the European Union’s decision to reject slapping sanctions on Russia over its war with Georgia but criticized the Western bloc for failing to understand the Kremlin’s motives in the conflict.

Putin Clinches Deal for Uzbek Pipeline
By Anatoly Medetsky / Staff Writer Prime Minister Vladimir Putin on Tuesday secured agreement from Uzbekistan to start building a new gas pipeline to Russia in a deal that bolsters Moscow’s sway over Central Asian energy supplies.

When a Life-Threatening Emergency Strikes
By Svetlana Osadchuk / Staff Writer Expatriates find that car accidents, heart attacks and violent robberies can lead to long waits and big bills.

Police Raid Yevroset's Headquarters
The Associated Press Law enforcement officers raided the Moscow headquarters of mobile phone retailer Yevroset late Tuesday, RIA-Novosti reported.

Wrestlers Test Positive for Marijuana
The Associated Press Two Russian sumo wrestlers have tested positive for marijuana use, two weeks after another Russian was banned for life from the sport after being arrested on suspicion of possessing the drug.

One in 10 Russians Found Guilty of Crimes
The Moscow Times More than one in 10 of the country’s citizens have been convicted of crimes over the past 15 years, a retired Supreme Court judge wrote Tuesday in government daily Rossiiskaya Gazeta on Tuesday.

Czechs Urge Transdnestr Pullout
The Associated Press Czech Prime Minister Mirek Topolanek said Tuesday that Russia should pull its troops out of the separatist Moldovan region of Transdnestr, easing a stalemate made more dangerous by the war in Georgia.

Duma to Get Down To Business
By Natalya Krainova / Staff Writer State Duma deputies will reconvene Wednesday for a fall session that will tackle the federal budget, small business woes and education reform.

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%

Opinion

10 Reasons Why the Economy Will Falter
Aug. 8 stands out as a fateful day for Russia. It marks Prime Minister Vladimir Putin's greatest strategic blunder.

How Russia Turns Liberals Into Authoritarians
Another August has ended. One would think that the last month of summer would be calm and quiet, but something dramatic and unusual happens almost every August.

Yulia Latynina: Turning Russia Into a Terrorist Enclave
Although no countries have joined Russia in recognizing South Ossetia's and Abkhazia's independence, Moscow can surely count on Hamas and Hezbollah for support.

City Wise

Spend City Day Clowning Around
By Maria Antonova / Staff Writer Circus artists from all over the world have gathered in Moscow to perform at the Moscow International Youth Festival of Circus Arts, which coincides with City Day.

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