18 June 2004 15:44
Moscow press review for June 18, 2004
MOSCOW. June 18 (Interfax) - The following is a digest of Moscow newspapers published on June 18. Interfax does not
accept liability for information in these stories. POLITICS & ECONOMICS
to power. The oil major's stock shot up 34.2% on the day, lifting the
rest of the market with them (Vedomosti, p. A1; Kommersant, p. 1;
President Vladimir Putin said the authorities did not want to bankrupt Yukos, sparking the biggest stock market rally
since he came
For the first time ever a Russian businessman declared earnings
of more than $1 billion in a single year. Analysts think the unnamed
person who declared $3.3 billion in personal income for 2003 was a
participant in one of last year's mega-deals (Vedomosti, p. A1;
OIL & GAS
Gazprom is losing market share in Germany and France, indicating
the company has been slow to respond to the liberalization of the
Moscow Times, p. 1; Vremya Novostei).
Kommersant, p. 6; Vremya Novostei).
Economic Development and Trade Minister German Gref said growth is slowing and urged the government to pursue major
infrastructure projects, such as pipelines and ports, including with participation of private capital (Vedomosti;
Kommersant, p. 2; Moscow Times, p. 5; Vremya Novostei).
European gas market (Vedomosti; Vremya Novostei). METALS & MINING
Investment bank Merrill Lynch has bought a 11.39% stake in Peter Hambro Mining, making it the second largest
shareholder of the company, which is based in the UK but mines gold in Russia's Far East (Vedomosti; Moscow Times,
p. 7). BANKING, FINANCE & INSURANCE
Launching a battle against middlemen working for major travel
agencies, Russia's Foreign Ministry as of Thursday restricted
The crisis of confidence on the interbank market has spooked insurance companies - they are shifting insurance
reserves from small banks into state banks and the subsidiaries of foreign banks (Vedomosti, p. A1). RETAIL &
CONSUMER MARKET
Health inspectors shut down a Nestle ice-cream factory outside Moscow and the confectionery and meat departments at
all four Auchan hypermarkets around theRussian capital on June 14 following a dysentery outbreak among their employees
(Vedomosti, p. B1; Kommersant, p. 7; Vremya Novostei).
Warner Home Video, following the lead of Columbia Tri Star, announced it would slash prices for all its films sold on
DVD in Russia, indicating Hollywood has finally decided to declare a price war on Russian pirates (Kommersant, p.
5).
acceptance of paperwork for issuance of foreign passports from firms accredited at the ministry. Tourism analysts
think it will now be much harder to get a foreign passport (Kommersant, p. 1). REAL ESTATE & CONSTRUCTION
Capital Group and the Kremlin's business affairs department plan to turn the Parliament Center in central Moscow
into a parliamentary library and a multi-purpose office and residential complex (Vedomosti, p. B1). TELECOMMUNICATIONS,
MEDIA & TECHNOLOGY
Major western investment funds such as Pioneer, J.P. Morgan and East Capital bought into a new share issue from
RosBusinessConsulting (RBC) on Thursday. Analysts attribute the demand to a desire to investment in Russia's
dynamic IT and media sector and RBC's lack of competitors on the stock market (Vedomosti, p. B1). [RU ASIA EUROPE
EEU EMRG PRESS PUB REA MRG FUND STX CRU FOD RET BNK INS MCE NGS]
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