26 May 2004 17:48
Moscow press review for May 26, 2004
The government is allocating about $6 billion next year to
replace various benefits enjoyed by some 13 million Russians with
MOSCOW. May 26 (Interfax) - The following is a digest of Moscow newspapers published on May 26. Interfax does not
accept liability for information in these stories. POLITICS & ECONOMICS
monetary payments. This could eat up much of the treasury's surplus, economists worry (Vedomosti; Kommersant, p.
2; Izvestia, p. 1; Vremya Novostei, p. 1).
The Cabinet of Prime Minister Mikhail Fradkov wants to classify information on government decisions that are in the
pipeline, banning officials from even discussing them with outsiders (Vedomosti, p. A1).
of a reward system for top executives. Such programs, now rare in
Russia, are soon expected to be adopted at most of the country's big
The overheating Chinese economy could be headed for a crash, which would seriously hurt demand and prices for staple
Russian exports (Vedomosti, p. A1).
Interview: Georgian Prime Minister Zurab Zhvania (Vremya Novostei). OIL & GAS
Russian-British oil company TNK-BP is completing the development
companies (Vedomosti, p. B1). METALS & MINING
Norway's Hydro Aluminium decided to exercise its right to buy 65% of Jamaican alumina plant Alpart in order to
resell it to Swiss trader Glencore, blocking Russian Aluminum's planned acquisition of the stake for $316 million
(Vedomosti, p. B1; Kommersant, p. 13; Moscow Times, p. 5; Vremya Novostei). BANKING, FINANCE & INSURANCE
The depositors of First City Bank, in a bid to get back $40 million from the bank, asked a court to seize the
collection of Faberge eggs owned by oil and aluminum magnate Viktor Vekselberg, who they say played a part in the loss
of the money. The depositors are being led by an adviser to Yukos CEO Simon Kukes (Kommersant, p. 1).
IFK Metropol has become the first Russian financial company to open an office in Tokyo (Vedomosti, p. B1).
The Central Bank of Russia received a court order on Tuesday to suspend its orders to revoke the license of
Sodbiznesbank and impose temporary administration over this bank, which has been accused of money laundering
(Kommersant, p. 13).
Interview: Luca di Montezemolo, president of Ferrari and head of investment fund Charme (Vedomosti).
TELECOMMUNICATIONS, MEDIA & TECHNOLOGY
Cadence, a major American producer of software for microchips, today will announce the opening of a software
development center in Russia, pointing to the growing foreign interest in Russian programmers (Kommersant, p. 17).
TRANSPORTATION
Transportation Minister Igor Levitin has promised to confirm Alfa- Sheremetyevo as the management company for the
Moscow airport on the condition that only Aeroflot build and operate the Sheremetyevo-3 passenger terminal. Prime
Minister Mikhail Fradkov will reportedly decide on Alfa's role in the airport's development later this week
(Kommersant, p. 1; Moscow Times, p. 5).
The Baltic Construction Company (BSK), which flourished in the days when Nikolai Aksyonenko was Railways Minister, is
now prepared to become part of the Russian Railways Company (RZD) in order to keep its contracts. BSK's owners
value the company at $300 million, but RZD has decided to set up its own construction subsidiary (Vedomosti, p. A1). [RU
ASIA EUROPE EEU EMRG PRESS ELQ CON RRL AIR AUT FIN BNK CRU POL GG]
[Interfax] |
RUSSIA IN FACTS
