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. Last Updated: 07/27/2016

07/28/2008

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Putin's $6Bln Lecture Tames Mechel

Embattled coal and steel major Mechel, which had $6 billion wiped off its stock price after being accused by Prime Minister Vladimir Putin of price-fixing, on Friday said it was ready to cooperate with the government.

Racist Crime Numbers Explode

The number of hate crimes committed in Moscow has exploded this year, rising sixfold compared to the same period last year, Investigative Committee head Alexander Bastrykin said Friday.

TNK-BP Risk Pushing Markets Downward

With its chief executive scuttling off to a secret location, dozens of foreign employees flooding out of the country and the threat of impending court battles, TNK-BP’s messy shareholder dispute has helped push Russia’s indexes into a downward spin.

Daimler Announces Talks With KamAZ

German auto giant Daimler on Friday announced that it was in talks to buy a 42 percent stake in truck maker KamAZ in a potential deal valued at $1.7 billion.

GAZ Plans $1Bln Auto Joint Venture

Combined Reports
GAZ hopes to create a $1 billion joint venture with General Motors but is also looking at Daimler as a partner in the project, GAZ executives said Friday.

Mechel and TNK-BP Finish Off Save Haven

The RTS Index plunged into bear-market territory Friday, falling the most in six months as investors took fright a day after Prime Minister Vladimir Putin's stinging censure of coal and steel producer Mechel's pricing policies.

UN Veto Poorly Handled

Whether by accident or design, a badly thought-out decision on an international issue of minor importance to Russia has renewed the confusion in Western capitals as to who is really in charge in Moscow.

A New Idea Smacks of Old Nomenklatura

President Dmitry Medvedev should be commended for publicly admitting what everyone knew was a large contributing factor to corruption in post-Communist Russia.

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