May 2009, Vol. 4, No. 4
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The London G20 Summit: Expectations and Outcomes
The world’s largest economies set aside the vast ideological differences in their political cultures, monetary policies and other key global issues begging for, but currently defying, quick resolutions, as they agreed in London to discard the existing model of capitalism for its failure to ensure stable global economic prosperity and provide innovative solutions to the pressing economic challenges of the 21st century. The London G20 summit, its expectations, outcomes and other issues of global importance are covered in this edition... |
The Russian equities market: April market performance roundupThe promising signs of recovery registered at the end of March on the Russian equities market gained more strength at the end April, as the local stocks market closed the month on positive moods, with all major market performance indicators gaining more grounds... |
National becomes Starwood Hotels & Resorts’ Luxury Collection first property in RussiaThe National Hotel has joined Starwood Hotels & Resorts Worldwide, Inc.’s Luxury Collection chain, thus becoming the first and only representative of the company’s internationally famed collection of luxury properties in Russia, according to company sources... |
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Renovated Moscow Hotel to open in 2010 under the Four Seasons brandThe ongoing reconstruction of the Moscow Hotel is slated for completion in 2010, when it is expected to receive its first guests under the Four Seasons Hotels brand... |
Grand Hotel Europe nominated for the best Russian business hotel awardGrande Hotel Europe has been nominated for Russia’s best "Business Hotel" award, which is organized by influential British Business Destinations magazine on the basis of the opinions of global hospitality industry experts and ordinary readers of the journal... |
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Tour operators and hotels asked to formulate anti-crisis offers for clientsAs a step to prevent the collapse of tourism business, the RUTI management has recommended Russian Black Sea resort operators and related services providers to formulate anticrisiss offers capable of attracting tourists to their facilities during summer vacations... |
TNT Express’s gross volume of operations surges 26% in RussiaCommenting on the company's 2008 performance, Harro van Graafeiland, CEO of TNT Express in Russia, noted that the robust growth in domestic shipments stemmed from the expansion of the company's regional network and portfolio of services in Russia... |
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Italy honors Kusnirovich with national awardMikhail Kusnirovich, the famous Russian businessman and owner of company Bosco di Ciliegi, was awarded Italy’s esteemed Leonardo for what the award donor, the Italian Quality Committee, has called the recipient’s significant contributions to the promotion of Italy's image in the world... |
OPK signs MoU with top Japanese leading shipbuilding companiesWithin the cooperation framework, OPK plans to modernize its shipbuilding capacities in Severanya Shipyard and Baltiysky Zavod to enable it build large shipping vessels, including construction of LNG carriers, with the support of its Japanese partners... |
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RSPP and Kremlin to jointly seek solutions to problems confronting Russian businessesSpeaking at a Kremlin meeting with the RSPP leadership, President Medvedev said the government will henceforth work more closely with the business community to search for the most optimal ways of solving the most pressing problems faced by companies in crisis times... |
Airbus pens $4bln titanium procurement deal with Russia’s VSMPO-AvismaThe Airrbus CEO noted the strategic nature of its cooperation with VSMPO-Avisma, the growing role of titanium in the aircraft construction industry and Airbus' interest in boosting the scope of its cooperation with other Russian companies in other related industries... |
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Microsoft Corp. and Space Research Institute to co-launch a scientific research center in RussiaAccording to the signatories, the noncommercial agreement, amongst others, provides for carrying out joint researches into factors that influence global climate changes, other key ecological issues and the interrelations between them... |
VTB Group strengthens its position in football and related investment spheresAccording to the memorandum signed by the VTB Group and Dynamo Society, the owner of the Dynamo Moscow Football Club (FC)and its Peterovsky Park Stadium, currently being developed by Dynamo assets management firm, VTB will control a 75%-minus-one-share stake in the assets management firm and 74% stake in the FC... |
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The Russian IT and telecom services market through the eye of an industry expertYuri Prokhorov, the country director and deputy CEO of Linxtelecom CIS and Svyaz VSD LLC, shared his views on the prevailing situations on the local telecoms market and the industry’s future prospects in view of the impacts of the current global economic crisis... |
Natural Resources minister tops the Russian Cabinet personal wealth listExplaining Trutnev’s enormous wealth, the Natural Resources Ministry noted that parts of the declared income had come from the sale of the minister’s shares in the EKS group of companies, co-owned by the minister prior to his appointment to the influential government post... |
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Russian pop primadonna Pugacheva celebrates birthday anniversary with pompRussia, other CIS nations and the Russian-speaking Diasporas in other countries took part in ceremonies to commemorate and congratulate Russia’s pop primadonna Alla Pugachyova, who celebrated her 60th birthday anniversary last month... |
Total damage from automobile traffic jams in Moscow equals R40bln a yearThe Russian Traffic Control Directorate has computed the social and economic damage connected with the constant traffic jams in Moscow, calling the resultant nationwide loss figures, measured in 10-digits, astronomical... |
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Russia’s Antitrust Agency to toughen liability for anticompetitive agreementsIgor Artemyev, director of the Federal Antimonopoly Service, has announced plans to revoke the current policy of freeing companies, which have confessed to illegal engagements in anticompetitive agreements, from administrative penalties... |
Stepashin sees no logic in supporting AvtoVAZ in crisis conditionsSergei Stepashin, chairman of the Audit Chamber, has said supporting AvtoVAZ in times of crisis contradicts the officially adopted strategy for the development of the whole of the Russian economy... |
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Ukraine-EU gas declaration contradicts Kiev’s gas agreements with MoscowCommenting on the Declaration on the Modernization of Ukrainian Gas Network, signed recently by Kiev and Brussels, Russian Foreign Minister Sergei Lavrov noted the discordances between the new document and the existing gas agreements between Kiev and Moscow... |
Novaya Gazeta highlights the essence of press independence in RussiaBy all standards and criteria, Novaya Gazeta, due to its rigid uncompromising position on several issues, would have been the last publication to be allowed to interview the Russian head of state. However, against all expectations, it turned out to be the first newspaper to earn such a high honor from the Kremlin... |
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Kremlin pressurizes ‘egoistic creditors’ into debt renegotiations moodThe Kremlin's unambiguous threats against some of the nation’s top business owners indulging in ‘unacceptable corporate egoism’ at the height of an unprecedented global financial crunch seem to be having their intended impacts... |
London G20 summit reboots capitalism in search for a better economic modelThe urgent need for ‘rebooting’ the current model of capitalism does not only stem from the collective search for quick exit strategies from the current crisis, but also from the long-overdue craving to clog the loopholes responsible for the perennial cyclic repetitions of avoidable crises in the global economy... |
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Putin details Russia’s present and future in his Cabinet’s performance reportThe report focused on the current economic crisis, the measures already taken by the Cabinet and those in pipeline to lift Russia out of the current global crisis a ‘stronger, more innovative and fully diversified economy’... |
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