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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.


Russia will switch to daylight saving time...

Russia will switch to daylight saving time (DST) on Sunday, turning the clocks forward one hour at 2:00 a.m. local time.


Around 20 militants have been killed in...

Around 20 militants have been killed in a clash with troops in the volatile south Russian republic of Ingushetia, the Federal Security Service (FSB) said on Friday.

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MOSCOW, March 3 (RIA Novosti) - Russian...

immediately."

The Olympic failure was the second major blow that Russian sport, which had been experiencing its most successful post-Soviet period, has had to endure in the last four months.

In November, the national soccer side, surprise semi-finalists at Euro 2008, failed to make this summer"s World Cup finals, losing in a play-off to tiny Slovenia.

That defeat saw unproven accusations that the players had been out drinking and partying on the eve of the first leg in Moscow, and even allegations by certain MPs that the team had thrown the game.

Russia"s ice-hockey humiliation at the hands of Canada has already seen similar claims of misbehavior, but these have been angrily rejected by coach Vyacheslav Bykov.

Russia"s Black Sea resort of Sochi is due to host the 2014 Winter Games.



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