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. Last Updated: 07/27/2016

09/05/2008

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Accord Signed in TNK-BP Standoff

BP signed a deal with its billionaire partners in TNK-BP on Thursday, laying the groundwork for an end to a bruising dispute over control of the firm that has fanned fears among investors of doing business in Russia.

A Crisis Brewing in the Classrooms

When economics student Mikhail Popov struggled with a final exam at a regional university, he was offered an alternative — pay $200 and get a good grade.

Recognition a Lonely Exercise for Moscow

Ten days after Russia recognized South Ossetia and Abkhazia as independent states, the only other country to have followed suit as of Thursday was that Cold War battlefield of the 1980s: Nicaragua.

NLMK to Buy Beta Steel for $400M

The Russian steel giant agrees to pay cash for the U.S. asset, located near the pipe manufacturer it purchased in August.

Central Bank Drops $4Bln to Prop Ruble

Reuters
The Central Bank stepped into the market and sold up to $4 billion on Thursday to brake the ruble’s fall, while shares went into free-fall despite a much-awaited shareholder peace deal on oil company TNK-BP.

Severstal H1 Net Profit Jumps 69%

Russia’s largest steelmaker announced a 69 percent rise in first-half net profit to $1.9 billion Thursday, a company record.

Independent at Last

Aug. 26 was a day of historic importance for our people.

Cheney Slams Russia Over War

The Associated Press
Demonstrating Washington's support for war-ravaged Georgia, U.S. Vice President Dick Cheney condemned Russia for what he called an ""illegitimate, unilateral attempt"" to redraw this U.S. ally's borders by force.

American Teacher Denies Spying in South Ossetia

The Associated Press
Russian officials say Michael Lee White was a U.S. agent involved in the recent fighting between their troops and Georgia. They claim to have found the Army veteran's passport in the country.

Son of Former President Held

Reuters
Georgian police have arrested a son of the country's first post-Soviet leader, Zviad Gamsakhurdia, on charges of trying to overthrow pro-Western President Mikheil Saakashvili, a senior government source said Thursday.

When Your Tongue Is the Real Enemy

Reading newspapers and blogs is bad for your health. It raises your blood pressure and lowers your immunity.

A State School for 30 Bright Children

A stuffed magpie perches on the blackboard of the biology room at Intellektual School, while a snake curls round a branch in a tank.

Business in Brief

GDP Growth Falls to 6.9%Bridge to Russky IslandSberbank to Raise $1.2BlnRussia to Boost Japan TiesYamal-Europe Back on LineGazprom Neft in AstanaExchange to Trade Jet Fuel

Comstar Sees Profits Jump in Q2

Combined Reports
Comstar United Telesystems, billionaire Vladimir Yevtushenkov’s telecoms company, said Thursday that second-quarter profit climbed 74 percent as demand for broadband surged.

Atlant Soyuz Seen Acquiring AiRUnion

The Moscow Times
Troubled airline alliance AiRUnion will be folded into Atlant Soyuz, an airline owned by the Moscow city government, and move its base to Vnukovo Airport, Interfax reported Thursday, citing sources familiar with the situation.

Chichvarkin Goes to Bat for Employees

Dressed in a hippie-style tunic, white jeans spattered with pastel-colored graffiti and rainbow-striped socks, Yevroset chairman Yevgeny Chichvarkin looked more like a gaucho en route to a siesta than someone defending his employees against charges of extortion and kidnapping.

30 Arrested In Pirated DVD Bust

City police have arrested 30 suspects and confiscated 1 million pirated DVDs as part of a criminal investigation targeting a company registered in the U.S. state of Delaware, a police spokesman said Thursday.

Yacht Dealers Drop Anchor in Moscow

White yachts gleamed in the early-autumn sunshine as multimillionaires strolled past producers and dealers of the luxury boats at a converted water-sports complex along the Moscow River.

News in Brief

Access for OSCE MonitorsUkraine Closer to Polls
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