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. Last Updated: 07/27/2016

04/10/2009

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Cabinet Cuts Back Electricity Program

The government will cut the investment program for state-run power companies by 40 percent this year, Energy Minister Sergei Shmatko said Thursday.

Billionaires Reluctant to Give Up Their Toys

For most of the decade, the country's billionaires spent hundreds of millions of dollars on boats, jets, expensive art and the occasional football team. But, despite strained bank accounts and public outrage, the tycoons have been loath to part with their expensive trinkets, choosing instead to hunker down and wait for better days.

RZD Will Cut 53,700 Jobs in 2009

Russian Railways said Thursday that it expected a loss of 49.7 billion rubles ($1.48 billion) this year, compared with a profit of 13.4 billion rubles in 2008, and that it planned to shed 53,700 jobs.

Saakashvili Rejects Continued Calls for Resignation

The Associated Press
About 20,000 people took to the streets in Tbilisi on Friday in a second day of protests calling for the resignation of Georgian president Mikhail Saakashvili, but the embattled president rejected their demands and called for dialogue with his critics.

Officials' Wives Are Main Breadwinners

As top officials this week declared their spouses' income and property for the first time and, taking a cue from President Dmitry Medvedev, made the declarations public, it emerged that some of them -- on paper, at least -- are not the main breadwinners in their families.

Survey: Bad Loans May Increase 400%

Bloomberg
Russian banks' bad loans will quadruple to $70 billion this year, according to a Bloomberg survey.

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