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. Last Updated: 07/27/2016

Press Review

Vedomosti. Companies and Markets
Nezavisimaya Gazeta
Rossiiskaya Gazeta
Moskovsky Komsomolets


Group of Eight leaders seeking to renew cooperation after the Iraq crisis voiced confidence in a global economic recovery Monday at their summit in Evian, France, and agreed on steps to stop the spread of weapons of mass destruction. However the G-8 leaders made no progress on deadlocked world trade talks. U.S. President George W. Bush reassured Jacques Chirac that Washington was not trying to divide Europe. (1, 2, Gazeta, 2, Nezavismaya Gazeta, 1, 6, Vremya Novostei, 1,2, Kommersant 1, 9)

The governmental initiatives on reforming the Tax Code have been strongly criticized by parliamentarians and oligarchs. Gazprom, Itera, Yukos and Rusal are some of the main critics. In an interview Vladimir Litvinenko, of the St. Petersburg state institute of mines and a former scientific advisor to Putin, comments on the issue. (1, 5)

The Soyuz-Fregat rocket on Monday launched the Mars-Express European satellite. This is part of the global effort to explore Mars. The European mission is equipped with Russian technology. A story describes the details. (1, 2, Vremya Novostei, 3)

Members of the Estonian Res Publica political party who accused Justice Minister Ken-Marti Vaher of speeding were forced to resign from the party for perjury and violating party regulations. (2)

The State Duma council will on Tuesday consider a resolution to dissolve a parliamentary commission which deals with issues relating to elections. Commission chairman Alexander Saliu said that the reason for the dissolution is linked to the commission's position on state assembly elections in Bashkiria. (3)

The 5th international exhibition of military equipment is opening Tuesday in Omsk. The government signed final approval for the exhibition to be held on May 16, just three weeks before the event was to be opened. A story gives details. (3)

Valentina Matviyenko has been in her new post as presidential representative to the Northwest region for two months. A story comments on her recent activity. (3)

In June Federal authorities will start to compensate Chechens who cooperate with the authorities against terrorism. A story comments on the first practical steps that have been taken. (3, Gazeta, 3)

The United States is returning the legendary icon "The Blessed Virgin of Tihvinskiy Monastery" to Russia. The icon was taken from Latvia after World War II and arrived in the United States in 1949. The icon is now on display at the Sviato-Tikhvinsky monastery in Pennsylvania. (4)

The Finance Ministry has submitted to the State Duma a draft for housing reforms which revokes governmental control over housing purchases. New regulations lower housing inheritance tax, but the tax will be calculated using the apartment's market value, not the purchase price as currently used. (5, Vremya Novostei, 5)

Central Bank head Sergei Ignatyev has promised to work towards a more stable ruble exchange rate, which does not make things any easier for the dollar. A story comments on experts' opinions on how to deal with dollar's fall, which is a trend troubling ordinary citizens. (6)

Central Bank directors on Monday in a Central Bank training center of handed out diplomas to credit organization inspectors and curators. These graduates are ready to make contributions to the country's banking system. A story comments on the details. (6)

Minor shareholders of Kuzbasenergo held their annual meeting Monday. Minor shareholders appointed four representatives to the board of directors. All the representatives belong to MDM group, meaning that MDM group will control one more regional energy company. (7)

In an interview analyst Elena Chernoletskaya comments on the state of the Russian stock market, pointing out its positive tendencies. (8)

AIDS will be a key issue for discussion at a session of the Moscow city government today. A program under discussion includes obligatory AIDS tests. The city government plans to submit new regulations to the federal legislature. A story looks at details. (8)

Moscow divers have cleaned many rivers in the Moscow area. The Dekostop diving club initiated the cleanup operation. Volunteers worked Monday free of charge. (9)

The Moscow regional court on Monday started processing Sergeant Vladimir Shumenko's criminal case. He is accused of humiliating soldier Alexander Fokin, which lead to his suicide on January 7, 2003. A story looks into the investigation. Details. (10)


Mostelecom began taking the TVS channel off the air on Monday. Mostelecom director general Alexander Mahonov has declared that the removal of broadcasting service will be a gradual process. He called the Moscow authorities's decision to stop broadcasting the channel "pure economics." TVS head Eugeny Kiselev referred to the Moscow authorities a racket. Anatoly Chubais and Oleg Deripaska are competing for control of TVS shares. (1, 2, Gazeta)

Finance Minister Alexei Kudrin has consulted the leaders of four centrist Duma factions: Unity, OVR, People's Deputy and Russia's Regions. The governmental package of tax bills was the main issue of consultation. Parliamentarians have been discussing tax reform for three weeks. The White House has offered to lower the VAT base rate from the present 20 percent to 18 percent. (2)

Liberal Russia co-chairman Victor Pohkmelkin and the co-chairman of the Republican Party of Russia Boris Fyodorov have signed an agreement creating a pre-election union. The coalition will include these two parties plus a Russian Motorists group and the "Onwards, Russia" organization. This structure will allow the parties to take third place in 2003 parliamentary elections. (3)

Public organizations are to lose the right to participate in elections. The State Duma state constructions committee recommended Monday that the lower chamber approve (in the first reading) a package of amendments to this legislation, put forward by representatives of centrist fractions. The amendments also schedule elections to the State Duma on the first Sunday of December and gradual disengagement of the public associations which are not political parties. (3)

Chechen Republic administration representative Ahmar Zavgaev has declared that the contract differentiating power between the federal center and republic will be signed in the first half of December. Accordingly, presidential elections in Chechnya will be held not later November. Ahmat Kadyrov has a greater chance of winning the presidency. (4)

Ingush President Murat Zyazikov has dismissed the government of Ingushetia due to the fact that it has not completed his pre-election pledges. A story comments on officials' opinion of the event. (4)

The Moscow prosecutor's office has published the results of investigations into two acts of terrorism in the capital in autumn 2002: the Dubrovka hostage crisis and an explosion in front of McDonald's. Due to the fact that the organizers have not been found, and the majority of those who carried out the acts are dead, the cases have been closed. (5)

The Emergency Ministry stopped the search in the Karmadonskoe gorge starting on Monday. This decision was made by the North Osetian government. Volunteers who oppose the decision are not going to abandon the effort. (5, Vremya Novostei)

The Interior Ministry's investigation committee has presented a new charge against MMM financial pyramid organizer Sergei Mavrodi: producing false passports. (6, Vremya Novostei, Nezavisimaya Gazeta)

Nikolay Tarasov, head of the Ministry for Protection of the Environment and Natural Resources, blames the Federal Hydro-meteorology and Environmental Monitoring Service for an inadequate water supply. During the preparations for spring the water fell in many water basins. (8)

Yesterday LUKoil declared preliminary 2002 results according to generally accepted accounting procedures (GAAP). Its net profit has decreased by 109 million dollars. LUKoil vice-president Leonid Fedun has declared that the company intends to sell a number of its holdings. Also, according to a message distributed yesterday on the London stock exchange, the sales volume of NK LUKoil grew to $15,334 billion in 2002 from about $13,426 billion the previous year. (13)

Yukos chairman Michael Khodorkovsky has declared that his company will not consider purchasing any share in Slavneft either from TNK or from Sibneft. (13)

The Central Bank first vice-president Andrey Kozlov has declared that the Central Bank considers it necessary to implement an immunity from prosecution for employees making appraisals of other banks. A story explains the viewpoint of the Central Bank. (14)

A three-day conference "Consolidation and Integration" has started in Moscow. The government, Central Bank, and Russian and international investment community representatives are all participating. Renaissance Capital has organized the conference. (14)


Tyumen Oil Co. (TNK) is facing serious problems with minority shareholders. The British Virgin Islands Supreme Court has decided to seize TNK assets valued at $380 million. This will hold up their deal with British Petroleum. TNK promised to give minority shareholders up to a 5% stake in the company. (A1)

The Industrial insurance company has collected more than 10 billion rubles in premiums in the first quarter of 2003. Experts credit life insurance for the success. (A1)

United Russia will hold a forum attended by 3500 of its supporters under the slogan "United with the President." Centrists are hoping to gain more supporters in the coming elections. (A2)

G-8 world leaders, in Evian to renew cooperation after the Iraq crisis, voiced confidence in a global economic recovery Monday and agreed on steps to stop the spread of weapons of mass destruction. The leaders, however, made no progress on deadlocked world trade talks. (A2)

Broadcasting interruptions for TVS began on Monday. Anatoly Chubais and Oleg Deripaskia are competing for shares in the channel. (A2)

Supporters of a sales tax are trying to convince Finance Minister Alexey Kudrin to extend the tax until 2006. The budget committee has postponed discussion of the VAT tax in order to continue negotiations on the sales tax. (A3)

Duma Deputies have postponed debate over a new law on currency regulation until the autumn session. (A3)

In an interview, Renova group owner Viktor Vekselberg discusses recent developments in his company and his entrance into the food sector. (A5)

Vedomosti. Companies and Markets

Wimm Bill Dann shares are suddenly attracting a great deal of attention from investors. Analysts cite French company Danone's intention to buy shares in the company as the main reason for increased investor interest. (B1)

A story comments on the details of a $100 million to $120 million deal between Sual International and the Fleming Family and Partners investment company. (B1)

Norilsk Nickel shares increased by approximately by 18 percent last month and analysts don't think that this trend will end there. (B2)

LUKoil has announced that company profits are below expectations. The market has reacted accordingly, with LUKoil shares having decreased by 2.39 percent. A story offers expert opinions. (B3)

Kuzbasenergo minority shareholders held their annual meeting on Monday and appointed four representatives to the board of directors. Each of the representatives belong to the MDM Group, meaning that MDM will control yet another regional energy company. (B3)

A story describes the activities of the Agency on Restructuring Credit Organizations, or ARKO. (B5)

Nezavisimaya Gazeta

The legislation that will regulate mass media behavior during elections is still under consideration in the State Duma. Some media outlets are already having the rules applied to them. A Nezavisimaya Gazeta reporter was thrown out of a conference given by Liberal Russia cochairman Viktor Pokhmelkin and "Onward, Russia" republican party leader Boris Fedorov. (1, 2)

St. Petersburg parliamentarians are gong to start work on a when they resume after holidays next week. They are seeking the people's agreement in unifying the city and the outlying region into one administrational body. If this takes place then St. Petersburg governor may get another term in office. (1, 2)

In an interview presidential economic advisor Andrei Illarionov comments on the tasks set out in the president's address and the present economic situation in Russia. (1, 3)

The government reaffirmed its determination to stop the divides in socio-economic state appearing between the regions of Russia. (3)

Pension fund vice chairman Alexander Chernoivan said at a press conference on pension reform and corporate finances last week that pension savings have reached 40 billion rubles. A story gives figures and comments on how much pensioners are unsatisfied. (3)

A scandal has erupted between Russia and Georgia due to an incorrect announcement by Ukrainian President Leonid Kuchma at a CIS summit. Georgia denies that any agreement has been made with Russia regarding peacekeeper presence in Abkhazia. A story comments on details. (5)

Rossiiskaya Gazeta

G-8 world leaders, seeking to renew cooperation after the Iraq crisis, voiced confidence in a global economic recovery Monday and agreed on steps to stop the spread of weapons of mass destruction. The leaders made no progress on deadlocked world trade talks. George W. Bush reassured Jacques Chirac that Washington was not trying to divide Europe. (1, 3)

Finance minister Alexei Kudrin announced Monday at a press conference for potential investors that economic growth in Russia will double by the end of 2010. A story comments on the details. (1, 3)

The government has submitted a draft to the State Duma on local management reform. In an interview State Duma committee on local management chairman Vladimir Mokry comments on the issue. (3)

Chita-Khabarovsk automobile highway was started in 1996 and is still under construction. The road is presently divided into as much as 2165 separate sections. The project falls under the control of the president. A story comments on what has been done since the 1990s. (1, 7)

Moskovsky Komsomolets

A journalist arrested in Turkmenistan was released after five months in prison. A story comments on daily life in a Turkmen prison. (3)