Word: gazprom
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Cooking With Gas Western investors, long irked by the 20% limit on foreign ownership of Gazprom, Russia's natural gas monopoly, were heartened last week when President Vladimir Putin gave Gazprom the go-ahead to acquire Rosneft, the government's last major oil company. The move ups the state's 38% stake in Gazprom to a controlling one in the newly formed Gazpromneft, and paves the way for foreign investors' billions to flow into Russia. But Putin apparently announced his plan before his ministers had agreed on its details: Industry and Energy Minister Viktor Khristenko cooled expectations, saying that liberalization...
...blow to the Russian prosecutor's office, an Athens appeals court took only a few minutes to reject Moscow's demand for the extradition of exiled Russian media magnate Vladimir Gusinsky on fraud charges. Gusinsky fled Moscow in 2000 after being accused of embezzling state-controlled gas giant Gazprom of $250 million. He claimed the charges were politically motivated; the court declared the crimes unproven. It was the fourth rejected Russian extradition request within a year. Keeping It in the Family AZERBAIJAN One person died and dozens were injured in clashes between police and protesters in Baku following Ilham Aliyev...
...Little Zaches," a vicious dwarf who bewitched a city into regarding him as a wise ruler - particularly infuriated Putin and his camp. The ax fell in mid-2000, when Gusinsky was accused of embezzlement and arrested. He left the country and eventually was forced to sell his assets to Gazprom, the state-run natural-gas monopoly that would later use its security force to stage a dramatic on-air takeover of NTV. Parfyonov chose to stay rather than join colleagues who resigned in protest. Namedni has been NTV's main political news program since September 2001, and Parfyonov became...
...Internet. But it is harder to protect computerized systems from an inside job. This is what happened a little over two years ago in Russia, in an incident that briefly surfaced in the press and was quickly hushed up. In early 2000, officials say, a disgruntled employee of Gazprom, the oil and natural gas monopoly, helped a group of hackers seize for several hours the corporation's computer systems - including those regulating gas flow through the firm's pipelines. Gazprom subsequently denied press reports of the break-in. And, officials add, the politically powerful corporation was furious when the information...
...lawsuits from investors. High-Stakes games H Microsoft is backing up its belief that video games are the wave of the future by pledging $2 billion to develop an online game network and the Xbox. Family Corrections H A judge ordered the return of a $1 billion stake in Gazprom that former managers sold to their relatives' firm for a mere $2.5 million. The state will now have a 55.6% share in Russia's biggest company. I N D I C A T O R S The Cup Of Gold Even economists want a piece of the World Cup action...