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. Last Updated: 07/27/2016

A brief look at the stories making headlines in the Russian-language press


The current sharp fall of shares in the American, East-Asian and European stock exchanges is not a repetition of the 1997-1998 crisis but a tough and so-far controlled correction of the overseas stock market, which has been in an overheated state over several years. The story reports on how the Russian stock market has reacted to the stormy developments on the New York stock exchange and what will happen to the dollar in the near future. Also covered in Kommersant Daily, Izvestia, Noviye Izvestia, Vremya MN, Vremya Novostei.

The two main points President-elect Vladimir Putin mentioned in London were the future head of the government, which will undoubtedly be First Deputy Prime Minister Mikhail Kasyanov, and the election of Chechnya's political leadership, which will take place "no later than in two years." Also covered in Kommersant, Vremya Novostei.

According to news agencies, a new structure of the government does not envisage the Commission on Urgent Issues, which its members jokingly called <i>sovnarkom,</i> and whose head has always been viewed as a "shadow prime minister." The story describes what will happen in the government without this commission. Also covered in Kommersant.

The story describes a possible scenario of a ceremony of Vladimir Putin's inauguration, scheduled for May 7, saying sarcastically that the cover of his presidential identification card will be made of shagreen leather (a symbolic sign) rather than of the usual material. This is not the first case when the Kremlin and its TV channels show Putin in not the best light, the story notes, citing several other such episodes. Also covered in Vremya MN.

Several public organizations and creative associations 40 days after the death of highly regarded journalist Artyom Borovik came out with an initiative to launch a charity in his name. The story describes the tasks of the fund and also results of the investigation into Borovik's death. Also covered in Noviye Izvestia, Vremya MN.

Changes are anticipated at the Federal Securities Commission with the arrival of a new head, Igor Kostikov.

In an interview, Irina Khakamada, head of the State Duma Commission on the Protection of Investors' Rights, who is to attend the forthcoming economic conference in London, talks about the event and her role in it.

The Sibneft-Siberian Aluminum empire called Russian Aluminum, controlled by Roman Abramovich and Oleg Deripaska, has actually monopolized the whole aluminum sector of Russia. The story examines this enormous empire. Also covered in Kommersant, Vremya MN.

Political analyst Leonid Radzikhovsky comments on how the Chechen war has helped Vladimir Putin win the presidential elections, noting that this war is no longer a headache for federal authorities. The author looks at three possible variants of resolving the Chechen conflict, saying that Putin prefers the most hopeless one.

According to German Die Welt am Sontag, the head of the German intelligence service, August Hanning last week described the current situation in the North Caucasus as very tense , saying that the Russians do not have control. The newspaper notes that the Chechen war already this spring may spread to the neighboring regions and to Georgia. The story comments on the newspaper's information focusing on how Georgia has reacted to it.

Despite the fact that the spring session of IMF and World Bank shareholders officially opened in Washington only Monday, the Russian delegation has already left for home. The story examines preliminary results of its negotiations over the weekend.

Nikita Mikhalkov, head of the Filmmakers' Union, is celebrating a victory after his main opponent, Valery Lonskoi, head of the Moscow Filmmakers' Association, tendered his resignation Monday.


The Soros Foundation's Open Society Institute on Monday announced the beginning of a new program in Russia called "Hot Spots," which envisages the formation of open society in the North Caucasus and, above all, in Chechnya. The project will cost $5 million.

A court on Monday ruled that the Moscow regional administration must return $1.9 million to Guta-Bank. The court is expected Tuesday to consider suits on the remaining credits (about $5.5 million). The story reports on how the Moscow regional administration Monday lost its first lawsuit.

A four-day air force exercise begins Tuesday in the south of Russia, in which warships and planes of the Black Sea Fleet will participate.

Federal Security Service and Interior Ministry officers have arrested four terrorists in Karachayeva-Cherkessia, reportedly members of Achimez Gochiyaev's criminal group, who allegedly planned a terrorist act during the upcoming inauguration ceremony.

Nikolai Koshman, a government representative in Chechnya, said on Sunday that 20 million rubles (from the Railways Ministry and Rosneft) has already been transferred to Chechnya. The bulk of the money will be spent on boosting wine-growing in the republic.

In an interview, Yury Konoplin, a lawyer for Colonel Savchenko, who was arrested in Chechnya last week for smuggling soldiers for bribes, speaks about the case and about a possible punishment.

An arbitration court ruling on Monday canceled the decision by Transneft shareholders on lowering dividends on privileged shares. This is the first timer the court has made such a decision.

Armenia's authorities have excluded the Itera-Rosenergoatom consortium from the list of participants in a tender to sell controlling stocks of Armenian energy networks. It's evident that the American AES Silk Road company will win the tender. What will Russian companies undertake in response?

The Overseeing Council of the Moscow Oil Company on Friday decided to sell part of its stock to the Evikhon and Yugraneft companies. The story comments on the decision, viewing the MOC as a full-fledged vertically integrated oil company.

The Kontinent-Polis insurance company, which is on the verge of bankruptcy, will have a new owner soon.

Ulyanovsk ZAO "Aviastart-Samolyotnoye Proizvodstvo" has proposed approached the Tupolev Design Bureau to launch a joint leasing company.

Standard & Poor's agency Monday announced an improvement in Moscow and St. Petersburg credit ratings from CCC- up to CCC.

The Moscow appeals court on Monday stopped the bankruptcy of Imperial Bank, which has managed to prove that it's not bankrupt.