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Foreign investment in the Russian economy...

Foreign investment in the Russian economy in the first nine months of the year fell 27.8% year-on-year to $54.738 billion, the state statistics service said on Friday.


MOSCOW, June 21 (RIA Novosti) - Russian...

MOSCOW, June 21 (RIA Novosti) - Russian producers of perfumes and cosmetics that contain alcohol are expecting a rise in prices in view of a new alcohol law coming into effect July 1, the head of a Russian perfumes association said Thursday. The new law introduces automated alcohol meters (EGAIS) and has been declared as a measure to curb dangerous alcohol consumption. "Certainly, there will be a price hike after July 1," which could be as much as 20% by the end of 2007, Tatiana Puchkova said. "In addition, there is an apprehension that leading market players... will leave the market altogether." A senior official from the perfumes association, Sergei Bolshakov, said only about 650 of 3,500 producers on the Russian perfumes market, which has annual sales of $7 billion, had obtained the necessary licenses. Puchkova said small and medium producers could start selling products of dubious quality over lack of funds to obtain the licenses or equipment. However, the producers hope the government will exclude them from the law and thereby prevent a crisis similar to last year"s. The perfumes association said the crisis in July-August 2006 saw annual sales plummet 75% from 85 billion rubles ($3.3 billion) in 2005 to 54 billion rubles last year.


Greek Prime Minister George Papandreou said...

Greek Prime Minister George Papandreou said on Monday the construction of the Burgas-Alexandroupolis oil pipeline project could start in six months, dropping his doubts about the project.

Exhibitions

Russia insists on the inclusion of U.S...

the balance of forces will shift in favor of the United States," the general said.

He added that the development of missile defenses would inevitably lead to a new round of the arms race and undermine the true nature of nuclear arms reductions.

Moscow hoped that the controversy over the U.S. missile shield in Europe had been resolved after the Obama administration scrapped plans last year for interceptor missiles in Poland and a radar in the Czech Republic.

But the new U.S. phased-in approach for European missile defense, which adds a naval component and could involve not only Poland and the Czech Republic, but also Romania and Bulgaria makes the potential threat to Russian nuclear deterrent even stronger.

The planned deployment of U.S. interceptor missiles in the Black Sea region has triggered fierce criticism from Moscow.

Makarov said the Russian and the U.S. presidents were deeply involved in the negotiations on the issues that are still

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