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. Last Updated: 07/27/2016

09/23/2005

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Press Review

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

Time for a Change, Not a Revolution

All but invisible to the wider world, a crisis is developing within Azerbaijan that could threaten regional stability and the future development of Caspian basin oil and gas. Though largely self-created, by a combination of endemic corruption and institutional underdevelopment, the emerging calamity is being greatly aided by opportunistic measures by others, including Russia, the United States and especially Iran.

The Answer Is Written on Your Thigh

A few months ago, a television advertisement appeared with the words of an Alexander Blok poem flying across Moscow in an SMS message to a cell phone. I thought: Magnificent! What a literate country this is, where they flog cell phone service by quoting Silver Age poetry. Then the words reach their destination, and you see that actually a father is sending the poem to his son during his exam -- that is, the father is cheerfully helping his son to cheat. Hmm. Cancel that praise.

One Million Evacuate Gulf as Rita Approaches

Just weeks after Katrina, residents flee the U.S. Gulf Coast as a second hurricane threatens.

Business in Brief

Reserves Reach $155Bln Russia's foreign currency and gold reserves rose for a fourth straight week, the longest continuous gain since May, to a record $155 billion. Reserves rose by $3.1 billion in the week to Sept. 16, the Central Bank said in a statement from Moscow. The previous record was $151.9 billion in the week that ended Sept. 9. (Bloomberg) Foreign Debt Repayment Russia hopes to redeem a further $3 billion to $5 billion of its foreign debts this year, possibly on terms better than its recent $15 billion Paris Club debt buyback, Finance Minister Alexei Kudrin said on Thursday. Russia completed payments under the Paris Club debt deal only last month, but large windfall oil revenues are quickly refilling the budget stabilization fund set up to pay off foreign borrowing. (Reuters) Japanese Join LNG Study TOKYO -- Gazprom has agreed with two Japanese firms to conduct a joint feasibility study on shipping Russian liquefied natural gas to North America, the Japanese partners said on Thursday.

Duma Gives '06 Budget a First Nod

The State Duma on Thursday gave preliminary approval to the 2006 draft budget, which will sharply raise government spending using billions of dollars from oil revenues, passing it on the first of four votes.

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