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. Last Updated: 07/27/2016

08/14/2008

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Charges Fly as Georgia, Russia Mourn

Staff Writers
Georgia and Russia angrily accused each other of breaching a truce as they mourned for their dead Wednesday.

NLMK Buys U.S. Firm for $3.5Bln

Novolipetsk Steel said Wednesday that it agreed to buy John Maneely Company, the United States' largest independent steel pipe and tube manufacturer, for $3.5 billion in the biggest North American purchase ever by a Russian metals company.

1998 Default Changed Some Lives Forever

In mid-August 1998, Julia Levit was taking time off her job to bask in the Crimean sun in Feodossia. What saved her from making that vacation an extended one was a television set in her hotel room.

RusAl to Sue LUKoil Over Coke

The Associated Press
United Company RusAl said Wednesday that it was suing LUKoil for cutting the supply of oil coke to its facilities by almost half.

War Casts Cloud Over Pipeline Route

Georgia's vulnerability may have dealt a lethal blow to Nabucco and a proposed trans-Caspian pipeline.

Stringers Lead Georgia To Victory in Volleyball

Reuters
The Brazilians who represent Georgia in Olympic women's beach volleyball rejoiced in a win against Russia on Wednesday, while the Russians criticized the media for trying to escalate the conflict between their nations.

Tibet Protesters Dragged Away

Reuters
Chinese security forces dragged away five U.S. pro-free Tibet protesters who blocked the entrance to a northern Beijing park on Wednesday, breaking up the latest demonstration on the sidelines of the 2008 Olympics.

OGK-1's Net Profit Tumbles 63.7% on Growing Gas Prices

Reuters
Electricity producer OGK-1 saw its net profit fall 63.7 percent in the first half of 2008 as rising gas prices and repair costs cut into its margins, the company said Wednesday.

Imperial Energy Deal Expected Soon

Bloomberg
Imperial Energy, a London-listed oil firm developing deposits in Siberia, rose the most in a month in London trading Wednesday on takeover speculation.

Pipeline Study May Take Week

Reuters
It could take a week to judge how long the Baku-Tbilisi-Ceyhan oil pipeline in Turkey will remain closed after a fire at the start of August, a major pipeline shareholder said Wednesday.

Novatek Q2 Net Profit Leaps 68%

Reuters
The country's second-largest gas producer, Novatek, on Wednesday reported a 67.7 percent increase in net profit in the second quarter of 2008, year-on-year, which came in below analysts' expectations.

Ruble Firms Up for 2nd Day in Row

Bloomberg
The ruble rose for a second day Wednesday against the Central Bank's dollar-euro basket after Russia ordered a halt to military operations in Georgia.

Bush Sends Rice on Georgia Trip

The Associated Press
U.S. President George W. Bush said Wednesday that he was skeptical that Moscow was honoring a cease-fire in Georgia.

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