INTERFAX - Russia & CIS Business and Investment news report of 29.08.2008

Chief Russian Financial and Macroeconomic Indicators

EVENTS IN THE COMING WEEK

HEADLINE NEWS

Digest of Headline News

COVER STORY

Russia recognizes Abkhazia, South Ossetia as independent states

Russia to start talks with WTO partners on withdrawal from some agreements

Russia needs to cooperate with other nations - Putin’s office

POLITICS. ECONOMY

Russian govt introduces draft 2009-2011 budget to Duma

Russian ruble depreciates 2.6%-2.8% against dollar in August

Russian budget surplus could exceed target by 28% in 2008 – ministry

Russian international reserves up $400 mln in week

Russia posts zero inflation from August 19-25 – Rosstat

Russian Econ Ministry predicts 0.1%-0.3% inflation in August

Russian Econ Ministry says GDP grew 6.9% in July – source

Trade surplus widens 70% to $121.8 bln in 7 mths - source

Russian corporate profits soar 41% in H1

OPINION

Delay in Russia’s WTO accession bad for stock market, good for economy – analysts

COMPANIES & MARKETS

ENERGY & RESOURCES

Russian oil duty could decline to $482.9-$487.3/tonne on Oct 1

Oil tax changes could bring $1.8 bln windfall for Lukoil in 2009

Prosecutors appeal TNK-BP CEO Dudley’s disqualification

Rosneft sees US GAAP earnings fall 44% in Q2

Lukoil net profit rises 64% in Q2; misses forecast

ONGC Videsh agrees to purchase Imperial Energy for $2.58 bln

Watchdog to check Schlumberger Logelco in Russia

Gazprom becomes direct shareholder in Daltransgaz

ELECTRICITY PRODUCTION & DISTRIBUTION. NUCLEAR POWER

TVEL licensed to export uranium to eight countries

Alrosa agrees to build second HPP in Angola by 2010

Kiriyenko signs directive on starting Kaliningrad NPP construction

BoNY named depository for GDR of 14 Russian energy companies

METALS & MINERALS

Evraz boosts net profit, dividends, says outlook healthy

Norilsk Nickel board decides to buy back 49 bln rubles worth of stock

Belon targeting H109 IPO in London

Severstal acquiring PBS Coals for $1.3 bln

Vostok Nafta sells shares in Belon, reduces stake in Kuzbassrazrezugol

UC RUSAL transfers whole Norilsk stake to subsidiary

METAL GOODS & ENGINEERING

Foreign car sales in Russia up 46% in 7 mths

Foreign car giants to boost sales in Russia

Avtovaz decides to purchase IzhAvto – Aleshin

AvtoVaz to launch joint production with Renault in Nov 2011

IT & TELECOMS

Svyazinvest chief may be replaced - source

Russia’s VimpelCom boosts US GAAP earnings 31% in Q2

Blavatnik to sell back 11.06% Comstar stake

Turkcell purchases an 80% stake in Belarusian GSM provider BeST

TRANSPORT

S7 confirms interest in Austrian Airlines

AiRUnion to get fuel under Rostekhnologii guarantees

Ministry nominates 3 independents for Aeroflot board – source

FOOD & AGRICULTURE. PROCESS INDUSTRIES, FORESTRY & TIMBER

Milk prices stabilize in Russia, no price jumps expected in fall – analysts

Govt to provide extra 102 bln rubles to agriculture in 2008-2012

Russia may make deep cuts in chicken imports from U.S. - source

X5 Retail Group ups net profit 290% to $161 mln in H1, beating forecast

media

Rambler Media consolidates 100% stake in Price Express

FINANCIAL & BUSINESS SERVICES

Govt may release VEB from debt-servicing duties by end-2015

Hermitage Fund says law firms defending its interests searched

cis

Belarus budget surplus at 4.2% of GDP in 7 mths

Uzbek inflation comes to 3.4% in H1

Uzbek trade surplus triples in H1

FORECASTS & MARKETS ANALYSIS

FINANCIAL MARKET

Dollar bounces back for week of August 25-29

GOVERNMENT SECURITIES

OFZ BONDS CONTINUE TO SLIDE

EUROBOND PRICES SLIDE, SPREADS WIDEN

STOCKS

SUMMER PLUNGE ON RUSSIAN STOCK MARKET TOPS 30%

RESULTS OF RUSSIAN STOCKS TRADING IN RUSSIAN TRADING SYSTEM

STOCK INDEXES

CORPORATE BONDS

CORPORATE BONDS MARKET TO LACK COMMON TREND

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