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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 in Brief

Business in Brief

06 October 2008

CTC Buys Moldova Stations

CTC Media, which controls the country's fourth-biggest television network by market share, said Friday that it acquired 51 percent of two Moldova broadcasting companies to enter the market.

The company purchased control of Teledixi Srl and Muzic Ramil Srl, CTC Media said. The Moldova channels will re-launch in the CTC format by the end of this year, the statement said. (Bloomberg)

Stake in Ile de Beaute Sold

PARIS -- French luxury group LVMH said Friday that it was expanding its presence in Russia by taking a 45 percent stake in perfume retailer Ile de Beaute with an option to become majority owner later.

No financial details were given, and the company did not reveal any timeline for taking control. The country is one of LVMH's fastest growing markets, where it sells Louis Vuitton bags, Moet & Chandon champagne and Hennessy Cognac. (Reuters)

$50Bln Package in Duma

The State Duma approved a $50 billion corporate aid package in the first of three required readings, Interfax reported Friday.

The proposal would allow the Central Bank to offer money to state bank Vneshekonombank at 1 percentage point over the London interbank offered rate.

Under the legislation, VEB will lend the money on to banks and companies at 5 percentage points over Libor to help them reduce their foreign borrowings, Yevgeny Fyodorov, chairman of the Duma's Economic Policy Committee, was quoted as saying in a statement on the Duma's web site. (Bloomberg)

RosUkrEnergo's Debt

KIEV -- Ukrainian Prime Minister Yulia Tymoshenko said Friday that transit intermediary RosUkrEnergo owed Gazprom $2.2 billion and proposed to settle the debt by dipping into gas reserves.

Disputes over arrears owed by Ukraine's state-controlled energy firm Naftogaz Ukrainy for Russian gas have led before to brief supply cuts, but Tymoshenko said this debt was unconnected to Naftogaz.

"RosUkrEnergo has $2.2 billion in debts to Gazprom, which has no connection to neither Naftogaz nor any other state firms. This is commercial debt," Tymoshenko told a news conference. (Reuters)

Novatek's $117M Dividend

Novatek, the country's second-biggest gas producer, said Friday that shareholders approved a dividend payment of 1 ruble per ordinary share and 10 rubles per Global Depositary Receipt for the first half.

The total dividend payout will be 3.04 billion rubles ($117 million), and the list of people entitled to receive dividends was compiled July 24, Novatek said. (Bloomberg)

UAC, Airbus in A350 Talks

The United Aircraft Corporation and European plane maker Airbus may reach agreement within three months on the Russian company's participation in producing the long-range A350 airliner as it seeks to boost international cooperation.

"We hope that by the end of the year we'll identify what components we will be producing for the A350," UAC chief executive Alexei Fyodorov told reporters in Moscow. He said it would be less than 3 to 5 percent of the entire project Russia had originally planned to contribute. (Bloomberg)