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The Moscow Times Moscow Guide – Winter 2008

Since the middle of autumn one of the most important topics of discussion, could only be … no, not the financial crisis… New Year! The winter issue of The Moscow Times Moscow Guide is entirely devoted to New Years celebrations. Seven great ideas for celebrating the “Night of Nights” will help readers finalise their plans and choose how and where to party, give fresh ideas and lots of practical advice.

And don’t forget – problems will come by themselves, but happiness and luck need an invitation. That why the more cheerful and light-hearted your celebration of the coming holiday is, the happier and more successful 2009 will be for you.

The Crisis: Signs of a Kremlin Fearful Of Unrest
Sociologist Yevgeny Gontmakher has painted a disturbing picture of what might emerge from the financial crisis, forecasting continued unemployment, huge protests and spreading violence.

Market Matters: Huge Grain Harvest No Boon for Farmers
This year Russia is enjoying the biggest grain harvest it has ever seen -- and farmers couldn't be more worried.



Tuesday, January 06, 2009 Updated at 31 December 2008 22:36 Moscow Time.

The Moscow Times » Issue 4003 » Business

TNK-BP Says Feud Is Resolved

06 October 2008TNK-BP said Friday that it had fully resolved a shareholders' dispute threatening to hurt output at the country's third-largest oil producer.

"The shareholders informed the company's management of the agreements reached regarding TNK-BP's further development," TNK-BP said in a statement following a meeting Thursday by BP chief executive Tony Hayward and shareholders Mikhail Fridman, German Khan and Viktor Vekselberg.

Over the last year, BP, which owns 50 percent of the venture, and AAR, a consortium of Fridman, Khan, Vekselberg and Len Blavatnik, have been at loggerheads over strategy and development that saw the BP-nominated chief executive Robert Dudley ousted from Russia.

"TNK-BP is a very important business for both BP and AAR," TNK-BP chairman Mikhail Fridman said. "For the company, it is important to know that the structure of the share capital at TNK-BP will not change."

The statement also said that neither side would sell their stakes in TNK-BP, which pumps one-quarter of BP's global output.

BP and its partners made peace in August when the British oil major bowed to demands from the billionaires to end the dispute. They agreed that BP would propose a new CEO, that independent directors would join the TNK-BP boards and that a public offering would be made of TNK-BP's stock.

(Reuters, Bloomberg)