Articles by Tim Wall



State Aid Energizes Stock Markets

After receiving a much-needed adrenalin shot of liquidity from the state, the countryТs markets were jolted back into positive territory Friday, reopening after a two-day hiatus with record jumps to all but wipe out the losses of a nightmare week.

State Set To Buy If Stocks Weaken

  • 19 September 08
  • Staff Writers
RussiaТs badly shaken stock exchanges were set to reopen Friday after a day and a half of suspended trading, as President Dmitry Medvedev pledged that up to 500 billion rubles ($19.7 billion) of state funds would be available to prop up distressed stocks, including those of large state-controlled firms.

Amid Market Plunge, State Eyes a Brighter Future

The middle of a stock market meltdown might seem like a strange time to be talking of building a world-class financial center, but President Dmitry Medvedev last week gathered the government's top economic and banking officials in the Kremlin to discuss just that.

Markets Post Record Single-Day Losses

  • 17 September 08
  • Staff Writers
The ruble-denominated MICEX Index fell by 17.5 percent Tuesday, a single-day record, as the countryТs oil-driven stock market was severely battered by the global economic hurricane spreading from the United States.

Putin and Medvedev Differ on Market Ills

Russian markets bounced back Friday after a dreadful midweek slump, marking a possible turning point after losing more than 40 percent of their value this summer amid tumbling commodity prices and concerns over political risk.

Medvedev Says State Can Lift Markets

As Russian stock markets suffered a second straight disastrous day of trading Wednesday, President Dmitry Medvedev played down the drastic falls of recent months and pledged that the government would restore the markets to their levels at the beginning of the year.

MICEX Falls 9% After Tax Flip-Flop

Russian markets plummeted to a two-year low Monday as the MICEX fell 9.1 percent and the RTS 7.5 percent, in a sell-off that investors and analysts said was driven by fear.

Markets Suffer in 'Triple-Whammy' Week

A combination of global financial woes, falling commodities prices and bad political news sends the MICEX to a two-year low.

Political Risk Sends Stocks to New Low

Russia's MICEX Index fell to its lowest level since September 2006 on Tuesday after President Dmitry Medvedev's recognized South Ossetia's and Abkhazia's independence, and the ruble tumbled to a seven-month low against the dollar.

Slew of Bad News and a Chita Mirage

A steady stream of bad news sent the markets tumbling last week, and one of the few bright spots -- when investors latched onto a report Friday that Mikhail Khodorkovsky had been granted parole -- turned out to be false.

TNK-BP Dispute Headed To Court

The boardroom battle at TNK-BP descended into outright mudslinging over the long holiday break, with the Russian shareholders threatening to have BP-nominated directors disbarred by a Moscow court this week and BP’s chairman accusing them of using illegal “corporate raiding” tactics.

U.S. Woes Weigh Heavy on Investors

Russian markets slid on the week as investors didnТt quite know whether to focus on a strong domestic economy or a flurry of U.S. financial news, while inflation hit its highest rate in 5 1/2 years.

TNK-BP Chief Refuses to Step Down

  • 02 June 08
  • Staff Writers
TNK-BP’s embattled chief executive, Bob Dudley, on Saturday defiantly dismissed a call by the company’s Russian shareholders for him to quit and warned that boardroom infighting could threaten its future.

Russia-Linked Firm Hits Myanmar Gold

  • 18 February 08
  • Staff Writers
Myanmar's military junta has awarded a potentially lucrative gold exploration contract to a little-known company with links to Russia, an official newspaper in the Southeast Asian country reported Saturday.

White-Knuckle Ride Tests Bouncing Bear Market

In last week's white-knuckle ride for investors, markets plummeted globally and Russia followed suit, testing the bear-market level of 20 percent in losses before bouncing back as traders went shopping for bargains.

Stocks Roaring Despite Jitters

After the State Duma elections, Russian markets tick up on the back of a flurry of deals and relief over gas price reform.

Stocks Roaring Despite Jitters

After the State Duma elections, Russian markets tick up on the back of a flurry of deals and relief over gas price reform.

Total's Oil Field Comes Under Review

  • 21 September 06
  • Staff Writers
State pressure on foreign oil companies intensified Wednesday as the Natural Resources Ministry said it was reviewing whether to revoke Total's production sharing agreement for its Arctic Khoryaga oil field.

The Hillary Clinton of Azerbaijan

Mehriban Aliyeva has a new hat to wear this week, and it's not from Paris. Aliyeva -- variously described as Azerbaijan's fashion icon, tireless charity organizer and savvy behind-the-scenes adviser to her husband, President Ilham Aliyev -- is about to take her place in the new parliament after officially winning 92 percent of the vote in her hometown district, near Baku.

How an Opposition Leader's Votes Were Stolen

As election officials divided ballots into piles for counting after polls closed in Sunday's parliamentary elections, one official, Nayib Mamedzade, noted with satisfaction that the pile for opposition leader Ali Kerimli at School No. 279 dwarfed the pile of his main rival, a candidate for the ruling New Azerbaijan Party.

Western Observers Say Vote Fell Short

Western observers said Monday that Azerbaijan's weekend parliamentary elections fell far short of international standards due to widespread irregularities in voting and vote counting.

Ruling Party Sees Victory in Azeri Vote

The ruling New Azerbaijan Party expressed confidence that it would win a large majority in Sunday's parliamentary elections, billed as a test of President Ilham Aliyev's attempts at managed democracy, but an opposition leader claimed fraud shortly after the polls closed.

Canadian Defense Lawyer Expelled

  • 26 September 05
  • Staff Writers
Mikhail Khodorkovsky's Canadian-born lawyer was expelled from Russia on Friday and prosecutors demanded that three of his Russian lawyers be disbarred for ""dragging out"" his appeal.

A Social Explosion in the Pipeline

The opening of the new oil pipeline from Azerbaijan, through Georgia, to Ceyhan in Turkey represents a triumph for U.S. imperial policy over Russian ambitions in the southern Caucasus -- and the culmination of a 13-year campaign to open up the Caspian region to Western oil multinationals.

Kasparov: From Chess Hero to Political Zero?

In the sometimes genteel, sometimes weird world of professional chess, Garry Kasparov has been the nearest thing to God for years: omnipotent, all-seeing, with a mind like a Pentium processor and the work rate of Hercules on amphetamines.

These Walls Have Ears

As Soviet architecture comes back into style, Anne Nivat takes a look at the darker side of living in one of Stalin's ""seven sisters.""

These Walls Have Ears

As Soviet architecture comes back into style, Anne Nivat takes a look at the darker side of living in one of Stalin's ""seven sisters.""

Strategy Games

A new book replays the Cold War showdown between chess players Bobby Fischer and Boris Spassky in 1972.

Strategy Games

A new book replays the Cold War showdown between chess players Bobby Fischer and Boris Spassky in 1972.