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. Last Updated: 07/27/2016


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Russia Adds 2 New Countries to Its Map

Defying warnings from Western leaders, President Dmitry Medvedev announced Tuesday that he had signed a decree recognizing the breakaway Georgian regions of South Ossetia and Abkhazia as independent states.

Medvedev Heads East Looking for Support

Russia will be looking for unambiguous support from Asian nations, including China, in its standoff with the West over South Ossetia and Abkhazia when the Shanghai Cooperation Organization meets Thursday in Dushanbe.

Political Risk Sends Stocks to New Low

Russia's MICEX Index fell to its lowest level since September 2006 on Tuesday after President Dmitry Medvedev's recognized South Ossetia's and Abkhazia's independence, and the ruble tumbled to a seven-month low against the dollar.

Caucasus Cities Called the Safest

Looking to move to a peaceful, crime-free neighborhood? Try the North Caucasus republics of Chechnya, Dagestan and Ingushetia.

ONGC to Pay $2.6Bln for Imperial

Combined Reports
India's state-run Oil & Natural Gas Corp. has agreed to a takeover of Russia-focused oil explorer Imperial Energy for ?1.4 billion as it works to secure energy to fuel India's booming economy.

IES to Pay $1Bln for Power Upgrades

Integrated Energy System, or IES, will invest 26 billion rubles ($1 billion) in upgrading its Volga division stations over the next four years, company president Mikhail Slobodin said Tuesday as he decommissioned a 77-year-old German turbine.

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