05 November 2003 04:29
The following is a digest of headline business news as of 5.00
p.m. on November 5, 2003 (Part 2): *** Moody's Investors Service amended rating outlooks of Yukos and Sibneft to
negative because, as the agency said in a press release, uncertainties continue to surround the future of Mikhail
Khodorkovsky and his stake in the company. Shares in Yukos and Sibneft shed 3.2% and 2.1% respectively minutes after the
announcement, and other blue chips also fell. *** The Russian Natural Resource Ministry said it might start revoking
mineral licenses to prevent the future non-fulfillment of license conditions. This also contributed to the slide on the
stock market, analysts said. *** Yukos stopped financing the Yabloko party after Mikhail Khodorkovsky was arrested,
Yabloko leader Grigory Yavlinsky said at an Interfax press conference. *** John Barry, head of Shell Russia, has been
appointed as the new president of the Petroleum Advisory Forum (PAF), Shell said in a press release. *** Russians spent
$5.6 billion abroad in the first half of 2003, including $4.4 billion on personal trips, up 7.2% and 7.5%, respectively,
year-on-year, the BDO Unicon macroeconomic research center reported, citing the Central Bank of Russia. *** The Russian
Foreign Ministry and the Union of Oil and Gas Industrialists signed a framework cooperation agreement. ***
Holland's Gasunie hopes that the Russian government will reach a decision on the construction of the North TransGas
Pipeline within two months, N.V. Nederlandes Gasunie Chairman of the Board Geert Greving said. *** Inflation in Russia
was 1% in October 2003, the State Statistics Committee reported Wednesday. Consumer prices rose 1.1% in October 2002,
9.7% in January-October 2003 and 11.5% in January-October 2002. *** Russia's Central Bank does not intend to adjust
its macroeconomic forecast, despite last week's tremors on the financial markets. *** Russian Energy Minister Igor
Yusufov said that long-term gas contracts will be the key issue in the energy dialogue between Russia and the European
Union. Yusufov also said he was against putting the government in charge of choosing methods for settlements of energy
exports. *** Russia will continue informing the International Energy Agency about its oil production and exports. Deputy
Prime Minister Viktor Khristenko said "the IEA needs information from Russia and is ready to sign an agreement with
the State Statistics Committee." *** Russian Prime Minister Mikhail Kasyanov signed an order removing Nikolai
Nikitin from his post as general director and chief constructor of the fully state-owned MIG aircraft manufacturer, due
to breach of contract. *** During Russian-Israeli talks this week, Moscow showed an understanding for Israel's
concern over Iran's alleged attempts to develop nuclear weapons, said a source in the delegation of Israeli Prime
Minister Ariel Sharon. *** Alexander Konuzin, Russia's permanent deputy representative at the United Nations, told
a UN General Assembly meeting that Moscow opposes too much political influence on the issue of Iran's nuclear
program. "At present, we see no grounds for curtailing our cooperation with the Islamic Republic of Iran in the
nuclear sphere. It is absolutely transparent and does not violate either Russia's or Iran's international
commitments," Konuzin said. *** Israeli Transport Minister Avigdor Liberman invited Russian construction companies
to bid in tenders for building railways and infrastructure in Israel.
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