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The Moscow Times
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Russian Stocks, Bonds Tumble as Ruble Propped Up
Russian stocks plunged and the cost to protect government bonds jumped to the highest in almost four years on Friday as the Central Bank shored up the ruble, which has been pummeled by the conflict in Georgia and tumbling commodity prices.
The Central Bank said it intervened after the ruble fell to the lowest level in almost a year against the dollar Thursday.
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Accord Signed in TNK-BP Standoff
BP signed a deal with its billionaire partners in TNK-BP on Thursday, laying the groundwork for an end to a bruising dispute over control of the firm that has fanned fears among investors of doing business in Russia.
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A Crisis Brewing in the Classrooms
When economics student Mikhail Popov struggled with a final exam at a regional university, he was offered an alternative — pay $200 and get a good grade.
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Recognition a Lonely Exercise for Moscow
Ten days after Russia recognized South Ossetia and Abkhazia as independent states, the only other country to have followed suit as of Thursday was that Cold War battlefield of the 1980s: Nicaragua.
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NLMK to Buy Beta Steel for $400M
The Russian steel giant agrees to pay cash for the U.S. asset, located near the pipe manufacturer it purchased in August.
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Central Bank Drops $4Bln to Prop Ruble
The Central Bank stepped into the market and sold up to $4 billion on Thursday to brake the ruble’s fall, while shares went into free-fall despite a much-awaited shareholder peace deal on oil company TNK-BP.
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Severstal H1 Net Profit Jumps 69%
Russia’s largest steelmaker announced a 69 percent rise in first-half net profit to $1.9 billion Thursday, a company record.
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Independent at Last
Aug. 26 was a day of historic importance for our people.
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Comstar Sees Profits Jump in Q2
Comstar United Telesystems, billionaire Vladimir Yevtushenkov’s telecoms company, said Thursday that second-quarter profit climbed 74 percent as demand for broadband surged.
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Business in Brief
GDP Growth Falls to 6.9%Bridge to Russky IslandSberbank to Raise $1.2BlnRussia to Boost Japan TiesYamal-Europe Back on LineGazprom Neft in AstanaExchange to Trade Jet Fuel
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