Russian news: October 3rd, 2008!

Hot News!RBC, 03.10.2008, Astrakhan 13:30:52.In light of the global financial crisis, many international regulations may be revised, Russian Economy Minister Elvira Nabiullina told a Caspian Sea summit in Astrakhan, a major city in southern European Russia. International financial architecture as a whole will inevitably change, Nabiullina asserted, and the role of traditional financial investment institutions, financial organizations, and separate currencies will be reconsidered.

RBC, 03.10.2008, Moscow 12:21:59.The State Duma approved the bill outlining additional measures to support Russia’s financial system in the first reading. According to Vladislav Reznik, chairman of the Duma committee for the financial market, the bill will grant Vnesheconombank the right to extend foreign-currency loans to both banks and non-financial companies to enable them to pay off and service their foreign loans obtained before September 25, 2008.

RBC, 03.10.2008, Kemerovo 11:04:01.The global financial crisis will not seriously affect the development of the Russian mortgage market, First Deputy Prime Minister Igor Shuvalov told journalists in Kemerovo, a Russian industrial city east-northeast of Novosibirsk. Granted, the market will probably be developing more slowly than it has during the past two weeks, but it will still move in a positive direction.

RBC, 03.10.2008, Moscow 10:25:38.Russian President Dmitry Medvedev is set to pay a visit to Kyrgyzstan on October 9-10, the leader’s press office reported today. On October 10, he is scheduled to take part in meetings of the CIS Council of the Heads of State and the intergovernmental council of the Eurasian Economic Community (EurAsEC) in the Kyrgyz capital, Bishkek.

RBC, 02.10.2008, Moscow 19:59:21.Russia and Ukraine have agreed on a memorandum on cooperation in the gas industry, Russian Prime Minister Vladimir Putin announced during Russian-Ukrainian intergovernmental negotiations today. The document will serve as a basis for a formal agreement between Gazprom and Naftogaz of Ukraine, which will stipulate all further details.

RBC, 02.10.2008, St. Petersburg 19:42:40.Trade between Russia and Germany could reach a new all-time high level of around $60bn, Russian President Dmitry Medvedev announced at a joint press conference with German Chancellor Angela Merkel in St. Petersburg today. He added that Russia was intent on actively contributing to its further growth.

RBC, 02.10.2008, Moscow 18:42:17.Russia and Germany may collaborate in the creation of alternative global financial centers, Russian President Dmitry Medvedev said at the opening of Russian-German consultations in St. Petersburg today. The Russian leadership believes that the country managed to accumulate sufficient financial reserves before the global crisis erupted, Medvedev maintained. However, he did not rule out the possibility of Russian-German mutual financial assistance. The president also added that he expected Germany to cooperate with Russia in reforming international financial institutions, along with the global financial and economic system as a whole.