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. Last Updated: 07/27/2016

06/11/2008

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TNK-BP Chief in Question Marathon

Staff Writers
questions at an Interior Ministry office Tuesday in what appeared to be the latest episode in a wrangle for control of the company between a group of Russian billionaires and Britain’s BP.

Train Takes Stress Out of Sheremetyevo

The unappealing choice between overpriced taxis and overcrowded minibuses stuck in traffic should be a thing of the past, after Sheremetyevo finally became the last of Moscow’s big three airports to get a direct rail link to the city center.

Potanin Puts His Passion Into Metals Plan

Sitting in the stylish bar on the top floor of his office near Polyanka, Vladimir Potanin used chess and Chinese philosophy analogies to map out his business strategy — and backed Russia to qualify from its group in the Euro 2008 football championship.

Miller Predicts Oil at $250 Next Year

Gazprom CEO Alexei Miller said Tuesday that he expected oil prices to top $250 per barrel next year, a figure considerably higher than most industry forecasts.

Norilsk's Profit Falls 12% Over Write-Offs

Reuters
Norilsk Nickel, the world’s largest nickel and palladium miner, posted a surprise 12 percent drop in 2007 net profit after writing off nearly $2 billion on the value of newly acquired mining and power assets.

Immunity From the Oil Curse

Oil is so central to the existence and development of modern economic life that it has inevitably become the focus of global concerns as prices have doubled since 2006.

After 11 Years, eXile Closes Amid Financial Worries and Government Probe

The eXile, Moscow's notorious English-language alternative biweekly, is shutting down after its investors became frightened by a government inspection and withdrew their funding, the newspaper's editors said Wednesday.

The Perfect Orthodox Wahhabi

On June 5, a Moscow City Court jury acquitted Vladimir Kvachkov, a retired military intelligence colonel, of charges that he attempted to kill Anatoly Chubais, the architect of privatizations in the 1990s and head of Unified Energy System.

Business in Brief

Gazprom-U.S. Gas PlansRosneft $1Bln RefinancingRusal Tests New TechnologyLower Sitronics LossMTS's BlackBerry DealBSP Profit DoublesOil Spill LaboratoryKazakhmys Stake Swap

Australian Businessman Fights Red Tape

Reuters
Every morning, staff at fashion jewelry chain Diva line up to bring their Australian boss about 500 documents to sign, as he swims against a tide of bureaucracy and corruption.

Central Bank Allows the Ruble to Strengthen 0.4%

Reuters
The Central Bank on Tuesday allowed the ruble to strengthen by 0.4 percent compared with the previous day’s close in the first deliberate revaluation move this year.

City's Quality of Life Is Called Miserable

Moscow’s quality of life for expatriates is one of Europe’s most miserable, while personal safety is the worst on the continent, according to a study released Tuesday.

Kudrin Criticizes Big Plans For Russian Technologies

Reuters
Finance Minister Alexei Kudrin has attacked plans by one of Prime Minister Vladimir Putin’s allies to gain control over hundreds of state-owned stakes in firms.

Interview transcript: Vladimir Potanin

Staff writer Nadia Popova interviewed Vladimir Potanin, president of the Interros Group, at his office in Moscow on Thursday, June 5, 2008. Below is an edited transcript. THE MOSCOW TIMES: What are your investment plans, now that your business divorce with Mikhail Prokhorov has been concluded? VLADIMIR POTANIN: Currently, as a company without partners, Interros has its strategy mapped out for the next five to seven years. We want to attract new partners now and diversify geographically and industrially, as we are currently overexposed on metals and in the Russian market. Our foreign investments currently are about 10 percent. We have to increase that level to 20-25 percent, but we will not reduce our business in Russia. It would be illogical, now it's a good time for the Russian economy. We haven't used loan financing before, and our operations leverage has been quite low.

Moscow Looks to Cut Number of Gypsy Taxis

The City Duma was to vote on a bill in third and final reading Wednesday aimed at reducing the number of gypsy cabs on the city's streets and boosting the general quality of taxi service.

Hope Fades for 12 Missing Miners

Reuters
Rescuers have little chance of finding alive 12 miners missing after a gas explosion at a Ukrainian colliery, officials said Tuesday.

Pentagon Says Russia Is Upping Nuclear Ante

Reuters
Russia appears focused on strengthening its nuclear capabilities rather than its regular armed forces, which makes maintaining the U.S. nuclear arsenal increasingly important, U.S. Defense Secretary Robert Gates said.

Concerts, Chirac but No Uriah Heep

Russia will celebrate its national holiday Thursday with outdoor concerts, sports competitions and a Kremlin awards ceremony attended by former French President Jacques Chirac. But a concert by the legendary British rock band Uriah Heep was canceled amid a dispute with its tour promoters.

News in Brief

Newspaper Gets ReprieveGrozny Blast Injures 12Agent Admits Bribe
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