17 May 2004 21:12
Moscow press review for May 17, 2004 (update)
MOSCOW. May 17 (Interfax) - The following is a digest of Moscow newspapers published on May 17. Interfax does not
accept liability for information in these stories. POLITICS & ECONOMICS
Economic Development and Trade Minister German Gref, on a visit to Chechnya Saturday, admitted the federal government
has neglected the need to rebuild the war-torn republic but said the situation there could be easily fixed (Kommersant,
p. 1; Moscow Times, p. 1; Izvestia, p. 3; Vremya Novostei, p. 1).
Saratov region Governor Dmitry Ayatskov is facing charges of abuse of office in an investigation into
misappropriation of regional funds (Vedomosti, p. A2; Kommersant, p. 3; Moscow Times, p. 3; Izvestia, p. 2; Vremya
Novostei, p. 2).
OIL & GAS
Oil prices rose to new record highs last Friday, with June
The Audit Chamber did not find any criminal wrongdoing in its audit of the budget of the Chukotka Autonomous
District, which is governed by billionaire Roman Abramovich (Vedomosti, p. A1).
U.S. National Security Adviser Condoleezza Rice concluded a three-day visit to Moscow on Sunday during which she
sought Russian support on a new UN Security Council resolution on Iraq (Moscow Times, p. 1; Izvestia, p. 2; Vremya
Novostei, p. 1).
The Audit Chamber, in an investigation into Central Bank of Russia spending on transportation of reserve funds, found
an "absence of proper control" over the operations of the Russian Collection Association (Rosinkas) that led
to the loss of CBR assets (Kommersant, p. 14).
futures for light crude reaching $41.56 a barrel on the NYMEX. Analysts and oil industry players, include OPEC
officials, do not expect prices to come down any time soon (Vedomosti, p. A1; Moscow Times, p. 5; Izvestia, p. 13).
Inteko, which is owned by the wife of Moscow Mayor Yury
Luzhkov, revalued its fixed assets in order to improve its
Gazprom, Rosneft and Surgutneftegas agreed that an oil pipeline from Eastern Siberia to the Pacific Rim should be
built alongside a gas pipeline. However, the companies that are developing the pipelines - Transneft and Rusia Petroleum
- said they were not aware of such an initiative (Kommersant, p. 16). METALS & MINING
Aluminum group Sual Holding is in negotiations to buy 68% of the Zaporozhsky Aluminum Plant (ZAlK), which if the deal
goes through, would become Sual's first overseas acquisition (Vedomosti, p. B2). RETAIL & CONSUMER MARKET
Interview: Alexei Nechayev, president of Faberlik (Vedomosti, p. A5). REAL ESTATE & CONSTRUCTION
financial indicators. This substantially increased the company's assets and capital, but analysts still view its
debt as risky (Vedomosti, p. B1). TELECOMMUNICATIONS, MEDIA & TECHNOLOGY
The chairman of AFK Sistema, Vladimir Yevtushenkov, said the Moscow conglomerate would bid in the auction for a
second stake in national telecommunications holding company Svyazinvest, he expects to be held in 2005 (Vedomosti, p.
A1).
Mobile TeleSystems (MTS), one of Russia's leading mobile operators, has hired Igor Stolyarov, formerly regional
head of Gillette, to fill a new position - vice president of sales and client service (Vedomosti, p. B8).
TRANSPORTATION
The Audit Chamber is proposing that the privately owned Murmansk Shipping Company be stripped of its management
rights to Russia's state icebreaker fleet, and that a special state company be set up to operator the icebreakers.
Analysts say the proposal would benefit Norilsk Nickel and Lukoil (Vedomosti, p. B1; Kommersant, p. 13). AGRICULTURE
& FORESTRY
The Moscow arbitration court on Friday overturned an Anti- Monopoly Ministry ruling allowing Austria's Pulp Mill
Holding to acquire 75% of shares in the Arkhangelsk Pulp-and-paper Mill, in what analysts see as the escalation of the
fight for the mill between Continental Management and the Titan group (Vedomosti, p. B1). [RU ASIA EUROPE EEU EMRG PRESS
TIM SHP MET CRU CEN POL IQ TEL MISC CRIM] vp tc
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