Word: putin
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...appeared thus far to favor the plan presented by the Austrian billionaire Frank Stronach, whose Magna group is a major worldwide supplier of components to GM. Stronach has teamed up with Russian carmaker OAO GAZ Group and the state-controlled Russian financial group OAO Sberbank. Russian Prime Minister Vladimir Putin has been lobbying Merkel to support the Magna bid. Stronach told reporters on the sidelines of Wednesday's meeting in Berlin that Magna "could run Opel as a global brand." (Read "Can Americans Learn to Love Fiat? Chrysler Hopes...
...this year. The International Monetary Fund has predicted that Russia's GDP could drop as much as 6% this year. "In 2009, unfortunately, we expect a sharper fall in the GDP than we had thought," Medvedev said. (Watch an interview with TIME's 2007 Person of the Year, Vladimir Putin...
...additional $10 billion over the following few years. But his emphasis was on lower outlays: "A review of spending, a transition to targeted spending and saving - these are the key words in the next three years," he said. In an apparent swipe at comments by Putin and his team, the Finance Minister said, "There are some optimistic forecasts that there will be some growth next year, but this in no way changes our priorities in the budget process...
...here, suggesting that the government will become much more austere in its spending," said Alexie Moisseev, a chief analyst at Renaissance Capital, a leading investment bank in Moscow. "Maybe this time around the Russian government will become more conservative and balance its budget in a more proactive way." (Read: "Putin to the West: Hands Off Ukraine...
...What we're seeing right now is an effort to clean up the mess." And what analysts will be eyeing with increased interest in coming months is whether the differences over the budget mark a new stage in Russia's most important political relationship: the one between Medvedev and Putin...