Weekly news:

INDICATORS

Chief Russian Financial and Macroeconomic Indicators

EVENTS IN THE COMING WEEK

HEADLINE NEWS

Digest of headline news

COVER STORY

Medvedev to give budget address by end May

VTB drafts several scenarios for share buyback – bank

overview

Moody’s says ratings outlooks for Russian subfederal issuers negative

Stress test indicates Russian banks able to withstand deepening crisis

Russian industry thought to have plummeted 12.4% in April – analysts

FORECAST

Russia to have 10% inflation in 2009; GDP to fall 3.8% - Euro Commission

BoA revises Russian 2009 GDP forecast downward, sees 2.1% contraction

POLITICS. ECONOMY

Russian inflation slows to 0.7% in April, below forecast – Rosstat

Russian inflation at 0.2% from April 28-May 4, 6.3% since start of 2009

Russian international reserves rise $5.3 bln in week

Russian intl reserves grow by $16 mln to $383.9 bln in April

Medvedev: state support for stock market has not produced results

Govt: Russia sees crisis time’s 1st decrease in joblessness

Russian trade surplus shrinks 56.4% to $23.4 bln in Q1 – customs

Russian services sector posts smallest decline in six months - VTB Capital

COMPANIES & MARKETS

ENERGY & RESOURCES

Oil export duty rises to $137.7 per tonne from May 1

CNPC to start construction of ESPO spur in China on May 18

NIS approves receipt of funds from Gazprom Neft for investment program

Lukoil triples financing for Caspian environmental program in 2009-2013

ELECTRICITY PRODUCTION & DISTRIBUTION. NUCLEAR POWER

Russian electricity consumption declines 8.1% in first week of May

Norilsk Nickel sells stake in TGK-14 genco

RusHydro could buy new energy retail companies

RusHydro, Japanese companies to cooperate on wind farm project on Russky Island

Mosenergo to resume investment program once capacity market problem resolved

METALS & MINERALS

Severstal plans to sell North American assets - FT

Severstal idles operations at Severstal Warren, Severstal Wheeling

Polyus Gold, KazakhGold could unveil new takeover terms in May

Polyus pours first gold at Natalka field

Peter Hambro Mining boosts Q1 gold output 72%

Kupol mine drives Kinross Q1 production growth

METAL GOODS & ENGINEERING

Concern Tractor Plants consolidates nearly all Russian assets in Dutch holding

GAZ selling British LDV to Malaysian distributor Weststar

GAZ Group confirms interest in Opel controlling stake

IT & TELECOMS

Russia must develop IT industry - Medvedev

Big Three could get 3G frequencies for Moscow soon

Several Russian telcoms see profit shrink in Q1

MTS posts net loss of 2.2 bln rubles in Q1

MTS files to purchase St. Petersburg retail chain Teleforum

Sistema, Infineon plan cooperation on GLONASS

TRANSPORT

Russia makes passenger plane import duties permanent

Aeroflot board postpones decision on Blue Wings buy

FOOD & AGRICULTURE. PROCESS INDUSTRIES, FORESTRY & TIMBER

Russia allows pork imports to resume from five U.S. states

Razgulay starts to buy back rescheduled bonds

Inmarko could reinvest 2008 profit

CONSUMER GOODS. RETAIL

Magnit to open minimum of 300 stores per year over next 2-3 years

media

CTC Media sees earnings tumble 44% in Q1

FINANCIAL & BUSINESS SERVICES

Audit Chamber: CB managing intl reserves effectively

VEB closes acquisition of Globex Bank, brings stake up to 98.94%

VTB posts net loss of 25.9 bln rubles in Jan-April

Basel closes deal to sell 75% of Bank Soyuz to Gazprom structure

CB pulls WDB-Bank license

Hellenic Bank starts up operations in Russia

Global Payments acquires United Card Services

CIS

IMF board to discuss next tranche for Ukraine on May 8 - Tymoshenko

Ukraine sees biggest industrial decline, highest inflation among CIS countries in Q1

Ukraine had 6.9% inflation in Jan-Apr

National Bank of Ukraine sees intl reserves fall 3.5% in April, 22.3% since start of 2009

Belarusian foreign debt grows 34% in Q1

Kazakhstan had 0.8% inflation in April, 2.8% YTD

Tajikistan cuts state budget revenue, spending due to crisis

Azerbaijan reduces external debt 2.8% in Q1

FORECASTS & MARKETS ANALYSIS

FINANCIAL MARKET

Dollar continues to decline, ruble strengthens against currency basket

GOVERNMENT SECURITIES

OFZ quotations post positive signs for week of May 4-8

Russian Eurobonds gain as appetite for risk grows

STOCKS

RALLY ON RUSSIAN STOCK MARKET GAINS FURTHER STEAM IN EARLY MAY

RESULTS OF RUSSIAN STOCKS TRADING IN RUSSIAN TRADING SYSTEM

STOCK INDEXES

CORPORATE BONDS

Corporate bond market to sustain growth

Nb: This news report features only the headline of each news.

Agency Interfax