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11.11.2004 - Russia earned a record $5.2 billion by selling weapons and military equipment last year
Many experts believe this is the ceiling and forecast a decline. Mikhail Dmitriyev, general director of the Federal Service for Military and Technical Cooperation with Foreign Countries, told Vremya Novostei about the outlook in military and technical cooperation.
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11.11.2004 - Russian economy stagnant in October - Illarionov
Russia’s economy continued a period of stagnation that began this past August, Russian presidential economics advisor Andrei Illarionov told reporters on Wednesday.
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11.11.2004 - Yukos may file for bankruptcy at an extraordinary shareholders’ meeting scheduled for December 20
The company Yukos may file for bankruptcy at an extraordinary shareholders’ meeting scheduled for December 20, Viktor Gerashchenko, chairman of the company’s board of directors, said in a RIA Novosti interview.
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11.11.2004 - The EBRD yesterday published a report on the progress of reforms in its member states
Russia’s progress has been modest in comparison with the leading southern European countries and Kyrgyzstan. EBRD economists attribute the slower reforms to the parliamentary and presidential elections.
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11.11.2004 - The CF turned down the law "On the limitations of retail sales and consumption in public places of beer and drinks produced on its basis"
At the session it was decided to establish a conciliation commission to modify the law and take complaints into consideration. The law introduces limitations on the sale of beer in day-care, educational and medical institutions, as well as on the adjacent territories.
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11.11.2004 - The Yukos plight is getting ever worse as its Sibneft block has been arrested
The law court authorised the arrest, November 3, on a criminal case against Irina Golub, Yukos FBC head accountant. The arrested Yukos block comprises 1,637,633,048 ordinary registered shares. The court move means to ensure damages reimbursed to the state, say the top prosecutor’s PR.
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11.11.2004 - Foreign brewers regard Russia among the world’s most lucrative beer markets
Foreign brewers regard Russia among the world’s most lucrative beer markets, on a par with Germany and China. The opinion belongs to Axel Gietz, Senior Vice-President for Corporate Contacts of InBev Co., one of the world’s biggest breweries.
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11.11.2004 - The Federal Cabinet held session to approve next year’s Russian Rail Co. draft finance plan and capital investment blueprints
The plan leaves much to be desired, Deputy Prime Minister Alexander Zhukov remarked during debates. In particular, it envisages loans growing on, with the bulk of borrowed money earmarked to increase corporate circulating funds, while it ought to go to investment projects, advised the Vice-Premier.
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11.11.2004 - The CB of Russia acknowledged the obvious - the annual inflation rate in 2004 will be at least 1% higher than predicted
Until late October, representatives of all concerned bodies insisted that the inflation would be kept within the predicted margins (10%), Finansovye Izvestia writes. And that is despite the absence of any signs of expected deflation in August or September, which could have neutralized the effects of inflation accumulated throughout the year.
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10.11.2004 - Dollar continues dropping against ruble
The weighted average dollar exchange rate amounted to 28.64 RUR/USD at the beginning of today’s special session on tomorrow deals. This figure is RUR0.03 lower than the official dollar exchange rate set by the Central Bank for November 9. As such, the dollar has continued falling against the ruble today.
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