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03/16/2004

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Press Review

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

Houston Tries to Banish Ghosts of Enron Towers

The 40-story tower in the heart of this city's central business district was built for the Enron Corp., but the bankrupt energy trading company never moved in.

MetLife Sells Chicago's Sears Tower for $835M

A group of New York investors was identified in published reports late last week as the buyer of the Sears Tower. The sale price was a better-than-expected $835 million, the Chicago Tribune reported, citing unidentified sources familiar with the matter.

Russia Is Next Step for International Investors

Ask a Western investor what he thinks about Russia and he will go on about its enormous potential. But ask him if he is ready to put his money into the country's booming real estate and his enthusiasm suddenly evaporates.

Jerde Partnership Wins VVTs Site

The Los Angeles-based architecture and urban planning firm The Jerde Partnership has been selected to transform a five-hectare site adjacent to the All-Russian Exhibition Center, or VVTs (formerly VDNKh), into a mixed-use project with a central public plaza and lush winter garden.

Blaze Guts the Manezh

The remains of the Central Manezh Exhibition Hall continued to smolder Monday in the aftermath of an overnight inferno that gutted the 19th-century building and left two firefighters dead and one hospitalized.

WorldCom Hid Loss of $65Bln in '01, '02

In 2000 and 2001, a time when WorldCom Inc. was telling investors that it was a profitable and growing company, the telecommunications giant actually lost $64.5 billion, according to revised financial statements released by the company last week.

Leaders Run Up Record Deficits

British Prime Minister Tony Blair's government this week will unveil a budget with a 37 billion pounds ($68 billion) deficit, the biggest since the Labour Party took office in 1997. Blair is not alone among leaders in proposing record deficits for years to come.

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