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MOSCOW, October 18 (RIA Novosti) - Russia"s...

MOSCOW, October 18 (RIA Novosti) - Russia"s United Aircraft Corporation (UAC) said on Thursday it intended to hold an initial public offering on Russian bourses in late 2009 and early 2010 to the sum of $1-1.5 billion. The UAC was established earlier this year to help overcome the crisis in Russia"s aircraft industry, and incorporates many of the country"s best-known aircraft builders, including Mikoyan, Ilyushin, Irkut, Sukhoi, Tupolev, Yakovlev and other enterprises in the industry. A UAC official also said the corporation would float newly issued shares representing 10-15% of its charter capital by closed subscription in 2008, adding that Russia"s government-controlled foreign economic bank Vnesheconombank could participate in the offer. The UAC, which is 90% state owned, incorporates aircraft building companies and state assets engaged in the manufacture, design and sale of military, non-military, transport and unmanned aircraft in a bid to streamline the Russian aviation industry. The UAC official also said the company would borrow about 120 billion rubles (about $4.8 billion) by 2012.


Canada defeated the U.S. 3-2 in the final...

Canada defeated the U.S. 3-2 in the final men"s hockey match on the last day of the Vancouver Olympics, bringing the number of its gold medals to 14.


CSKA Moscow and Zenit"s Russian Premier...

CSKA Moscow and Zenit"s Russian Premier League match, which was due to take place on Saturday, has been moved to a later date after twin suicide bombings hit the Russian capital.

Feature

Russian President Dmitry Medvedev said on...

Calls for police reform were spurred by a number of incidents involving Interior Ministry officers. In the worst incident, which occured in April, Denis Yevsyukov, then a police major, took a taxi to a supermarket in southern Moscow, where he shot the driver dead, before walking into a store and killed two more people and wounded six others.

"Today I will sign a law improving the activity of the Interior Ministry that will envisage organizational reform, amendments to some financial issues and certain legal as well as staffing changes," Medvedev said in a live broadcast interview with three state television channels.

He pledged radical changes to the Interior Ministry"s structure, but said responsible workers would retain their jobs. Redundancies could be balanced with higher salaries for those police officers who will survive the reform, according to the president.

"It [the Interior Ministry] undoubtedly needs major, drastic changes, and they will be undertaken.

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