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. Last Updated: 07/27/2016

07/31/2002

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Capitalism Under Attack

Today capitalism is under attack for the first time since the fall of communism.

Putin's Double-Edged Gift

Let's see how the privatization of Slavneft, Magnitogorsk Metallurgical Plant and Svyazinvest pans out.

Iran Overshadows U.S. Visit

Two high-level U.S. officials are in Moscow days after President Vladimir Putin's government announced plans to step up cooperation with Iran.

Chechnya Funds Sent 5 Months Late

The government started sending funds to reconstruct Chechnya five months late, according to a report by the State Construction Committee.

Georgia Complains of More Air Raids

Georgia on Tuesday angrily accused Russia of sending combat aircraft to raid its territory for the second day in a row.

Il-86's Black Boxes Point to Stabilizer

A recording of the last moments on board the Pulkovo Airlines Il-86 confirmed an ill-positioned tail stabilizer caused the jet to crash.

Lviv Mom Lays Family to Rest

Family members and relatives in Lviv have combed hospitals and pleaded with emergency officials for confirmation that their loved ones survived Saturday's airshow tragedy.

Ufa Relatives Looking to Sue

Sixteen Western law firms have offered their services to the families of Russian schoolchildren killed in this month's collision of a DHL cargo plane and a Bashkirian Airlines passenger jet.

Putin, Rogozin Meet Over Kaliningrad

Vladimir Putin has asked Dmitry Rogozin to protect Russia's rights in the dispute over Kaliningrad.

Sakhalin Rails to Get Major Overhaul

Railways Minister Gennady Fadeyev on Tuesday ordered the overhaul of Sakhalin's 957-kilometer network of railroad tracks.

Witness: Prosecutors Took $2M

A top Interior Ministry investigator has accused the Prosecutor General's Office of accepting a $2 million bribe to close a probe into importers of furniture for the Grand and Tri Kita stores.

Far East Traders Turn to Legal Businesses

The Wild East is becoming increasingly tame, and businessmen are beginning to turn from thuggery to more lawful businesses.

Ministries Delay EU Steel Quotas

Severstal blasted the government Tuesday, saying a lack of coordination between ministries is blocking steel exports to the European Union.

Plant Worker Takes Justice Into Own Hands

When Andrei Zakrasin found his hoard of rubles missing from its hiding place in a low, brick garage not far from his apartment, he took drastic steps to solve the crime.

Warrant Issued for Vodka Magnate

A nationwide search for vodka magnate Yury Shefler has been declared by the Prosecutor General's Office.

A Police Force That Protects for a Fee

Despite public outcry over corruption and inefficiency in Russia's police force, there is one sure-fire way to get decent service from the cops: Just hire them directly.

Bush Signs Law to Crack Down on Business Accounting Fraud

Hoping to restore investor confidence, U.S. President George W. Bush signed into law the most far-reaching government crackdown on business fraud since the post-Depression era.

Business in Brief

RTS Closes Up 1% MOSCOW (Reuters) -- Shares closed narrowly lower in thin trading Tuesday, dragged down by power grid UES and heavyweight oil shares. The benchmark RTS index closed down 0.95 percent at 332.48 points on low turnover of $12.4 million. The Reuters index of the ruble-denominated MICEX was down 3.71 percent at 1,295.22 points on turnover of 3 billion rubles ($95 million). ""We came in this morning to a big U.S. rally and a strong oil price expecting follow-through, but we never got it,"" said Martin Diggle, a director at Brunswick UBS Warburg. ""The extreme volatility in world markets and the fact that it is holiday time mean people are waiting,"" he added. Russia's market has slavishly tracked U.S. and European bourses for the past two weeks. RTS benchmark UES ended 3.26 percent lower at $0.0919. The other blue-chips, the country's oil stocks, were also lower across the board. Top producer LUKoil finished down 1.48 percent at $14.6 while No. 2 Yukos ended down 0.98 percent at $9.11. No.

News in Brief

City Haze Thickens MOSCOW (AP) -- Smoke from dozens of forest and grass fires blew into Moscow on Tuesday, reducing already poor air quality in the city. At least 40 forest fires are burning across 292 hectares in the Moscow region, creating the haze of smoke over the city, said Tatyana Poznyakova, an expert at Moscow's meteorological committee. She said an unspecified number of grass fires are also burning. Visibility is down to 25 meters in parts of northwest Moscow and less than 50 meters in the city's southeast, Poznyakova said. She said hot temperatures and practically windless weather are keeping the smoke from drifting away. Weather forecasters expect cooler weather and stronger winds Sunday, she said. Ivanov in Hong Kong HONG KONG (AP) -- Foreign Minister Igor Ivanov and Hong Kong's leader said Tuesday they would like to cooperate better on trade and economic development.

Press Review

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