Word: savov
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...Savov at Credit Suisse says the banking problems could slow domestic investment and industrial growth. But significantly, Russia's most important banks don't appear to be at risk - in fact, their conservative behavior, rather than risky practices, may be holding the economy back. About 40% of the nation's deposits is in the hands of three stodgy institutions with strong ties to the Kremlin - Sberbank, VTB and Gazprombank - that have been increasingly loath to lend to some 1,200 scrappy, smaller rivals. This is contributing to the liquidity squeeze. "It's the second- and third-league firms and banks...
...Some Russia watchers are expecting much more upheaval. Vladimir Savov, an analyst for Credit Suisse in Moscow, sees the recent turmoil as the beginning of a broad consolidation of Russia's highly-leveraged banking sector. "We want to hope that this will improve the resilience of Russia's financial markets in the long term," he says, "although in the near term the process could be painful." Renaissance says it had been in talks for some time and didn't act out of distress. But its move came a few days after the first financial institution fell victim to the crisis...
...booster considering withdrawal, there's someone else who is eager to pile back in. On Aug. 11, Credit Suisse issued a research note arguing that this is a great time to buy Russian stocks. The market "has been punished excessively over the last couple of weeks," wrote analyst Vladimir Savov. "While warfare is never a good thing, fundamentally Russia's economy and infrastructure are not affected ... The likelihood of military involvement of other superpowers is below average. The situation may end soon, to be replaced by diplomatic negotiations." And even as bullets flew in Georgia, U.S. electronics retailer Best...
...posted as deputy commercial attaché at the Bulgarian embassy in Paris. The Times said that Mantarov defected in July 1981, two months after the failed assassination. While being debriefed by French intelligence officials, Mantarov reportedly said that a close friend in the Bulgarian state security agency named Dimiter Savov had given him details about a KGB plan to murder the Pontiff...
...Savov is said to have told Mantarov that the KGB concluded in 1979 that Zbigniew Brzezinski, President Jimmy Carter's Polish-born National Security Adviser, had somehow engineered the election of Pope John Paul II the previous year. Brzezinski's supposed purpose: to use the Pope to inspire further unrest in Poland and eventually to wrench the country out of the Soviet orbit. Mantarov claims that he was told that as the troubles in Poland mounted, and as the Pontiff came to be identified with the budding Solidarity movement, Soviet authorities gave the command to "eliminate" the Pope...
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