Getting Around Moscow
Slipping through crowds on the Metro...
Click on the extended post to watch more videos about getting around in Moscow.
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 April 30, 2007 Getting Around Moscow
Click on the extended post to watch more videos about getting around in Moscow. April 29, 2007 Russian Music Video of the Day - Yesli Da (If Yes)
ToKiO (not to be confused with the German rock band Tokio Hotel) is a Russian modern rock band that sounds a lot like Snow Patrol and Coldplay. They have been featured in music videos for blockbuster films produced by Russian director Fyodor Bondarchuk: Zhara (Heat) - 2007 9 Rota (9th Company) - 2005 Click on the extended post to read the song lyrics in English and Russian. Continue reading "Russian Music Video of the Day - Yesli Da (If Yes)" » April 25, 2007 Boris Yeltsin: Russian Liberator
"What struck me was that Mr. Yeltsin, unlike President Gorbachev, had escaped from the communist mindset and language." -- Margaret Thatcher
To help understand Boris Yeltsin's impact on Russia and to further appreciate the current state of affairs in the Federation, Dr. Herbert J. Ellison has kindly agreed to let Russia Blog excerpt a few paragraphs from his recently published book, Boris Yeltsin and Russia's Democratic Transformation (University of Washington Press, 2006): NASDAQ Entering Russian Stock Market?
Director of Equity Financing, FINAM Investment Company, Moscow
Last week Russia's business media reported more exciting changes in the Russian IPO market. I have mentioned before how at the recent Third Annual IPO Congress, we received many suggestions from representatives about which foreign exchange is the best market for listing Russian IPOs. The real sign of growth here in Russia is that Russian companies now get to choose. Last week saw more Russian business media reports about the mysterious new IXSP stock exchange. This time, the source was Russia's Kommersant business newspaper, which discussed the possible acquisition of OMX by the NASDAQ. Click on the extended post to read more. April 24, 2007 More Foreign Banks Investing in Russia
Director of Equity Financing, FINAM Investment Company, Moscow
Last week Kommersant daily carried an article that discussed the revenues of investment banks now operating in Russia. It is interesting to note that according to the Russian finance website offerings.ru, there are 35 investment banks now involved in IPOs and mergers and acquisitions in Russia. Kommersant cites a research paper by Dealogic, according to which the top 5 Western investment banks earned $ 200 million in the first quarter of 2007. April 23, 2007 The Rise of Individual Investors in Russia
Director of Equity Financing, FINAM Investment Company, Moscow
One of the most interesting sessions of the recent Third Annual Russian IPO Congress was focused on the recent profound changes in the equity investment scene in Russia. Indeed, as Alexander Oslon, President of the Public Opinion Foundation, noted: last year was a turning point in the history of Russia. 2006 will go down in Russia's economic history as the year we witnessed the birth of consumer equity investing in the Russian Federation. Continue reading "The Rise of Individual Investors in Russia" » Bering Strait Tunnel -
It's Possible, but is it Affordable?
Though some might call the current proposal for a Bering Straits Tunnel a crazy idea, that is an outdated view. This does not mean, however, that the idea should escape thorough evaluation. Among the many issues that need to be examined, there are two of particular note: The first is financial soundness. The Euro Tunnel, popularly known as the "Chunnel" -- half the length of this proposed Bering Straits tunnel and connecting huge European population centers -- is on the verge of coming out of bankruptcy for, I believe, the third time. This chronic financial weakness was initially attributable largely to construction cost overruns, which left it saddled with high debt service. In addition, its passenger services have not been able to compete as effectively as forecasted with the airlines, a number of which are newer low-cost carriers, and the freight services that use the Chunnel are not robust enough to bridge the revenue gap. Adding to these problems, the Chunnel has incurred much higher operating costs in recent years for security and preventing illegal immigration.
Continue reading "Bering Strait Tunnel - April 22, 2007 Into the Wilderness - Dersu Uzalu Reviewed
Dersu Uzala is a profound story of mutual respect and trust that develops between an Imperial Russian Army Captain Vladimir Arseniev (Yuri Solomin) and Dersu Uzala (Maksim Munzuk), his native guide in the wilderness of Russia's Far East. Legendary Japanese director Akira Kurosawa's reflection on man vs. nature and friendship won an Academy Award for Best Foreign Film. The story opens in the Russian Far East village of Korfovskaya in 1910. Captain Vladimir Arseniev is returning to the place where his friend Dersu Uzala is buried. The film then flashes back to Arseniev's surveying expedition to the region in 1902, before the village was built. As the Russian soldiers cheerfully whistle through the forest, they come across a powerfully built Asian man, who gives his name as Dersu Uzala. Captain Arseniev asks Dersu to join their party as a guide. (WARNING: PLOT SPOILERS FOLLOW) Continue reading "Into the Wilderness - Dersu Uzalu Reviewed" » S Dnem Rozhdeniya, Lola!
(Happy Birthday, Lola! ) Reviewed
A few months before she appeared in the role of Sasha Belov's long-suffering wife in the RTR TV miniseries Brigada, Ekaterina Guseva was in a bad Russian suspense movie called Happy Birthday, Lola! The movie is based on a popular Russian comic strip. Unfortunately, the on screen action is punctuated by cutaways to scenes from the comics. The jerky camera work at the beginning, and a soundtrack that makes Brigada's seem high quality in comparison, also detract from the storyline.
Continue reading "S Dnem Rozhdeniya, Lola! April 21, 2007 Really Bad Russian Music Video of the Day:
Chorny Bumer (Black Beamer) by Seryoga Серёга: чёрный бумер Before there was Timati, in 2004, there was Seryoga...ballet, babes, and black BMWs...this video is so bad, it's funny. UPDATE: When you watch Dnevnoy Dozor, you can definitely hear this song playing at an open air market in Moscow during one of the opening scenes in the movie. April 20, 2007 Another Russia vs. Russia
In the wake of the rallies of the "dissenters" (nesoglasnye, more literally translated as "disagreeables") on April 14 and the roughing up they received at the hands of the police, quite a few media in the West have done their best to portray them as intrepid fighters against Putin's authoritarian regime, for democracy and freedom. Contrariwise, in Russia, the ordinary people's view of these "disagreeables" was succinctly expressed by a neighbor of mine: "Urody!" (loosely translated as "freaks"; I am omitting the accompanying epithets). Speaking as one of the masses, that view is typical of Russians' gut feeling about these clowns. This sharp divergence of opinion, putting it politely, is due to a very simple fact: we, the people of Russia, know these freaky "disagreeables"; we have known them for more years than we care to remember; we have seen them in action, and we do not like what we have seen and suffered from. They've done Russia nothing good and a lot of harm, and we are certain that that is exactly why they enjoy such keen support of Russia-haters in the West. Our dislike for the West -- the USA above all -- is growing proportionately. April 19, 2007 Did Uncle Joe Win the War?
That is the question UCLA English professor and book critic Benjamin Schwarz takes on in the May 2007 issue of The Atlantic Monthly, in his review of several new books about the Russo-German War of 1941-1945. The Nazi invasion of the Soviet Union sparked the bloodiest campaign in human history, and Schwarz by and large agrees with the latest crop of books that dismiss the entire Western Allies effort in the Second World War as an overhyped sideshow to the real war in the East. In what may be even more offensive to British and American readers, Schwarz goes a step further and credits Josef Stalin's leadership for saving the Soviet Union from collapse in the winter of 1941-1942, and eventually allowing his superb generals led by Georgy Zhukov to lead the Red Army to victory. "Stalin...saved the world for democracy." Click on the extended post and scroll down to read the original Atlantic Monthly article. Day Watch (Dnevnoy Dozor) :
U.S. Theatrical Release Set for June 1, 2007
For those of you who have been waiting for the sequel to Night Watch (Nochnoi Dozor) to finally make its U.S. debut, the wait is almost over. Fox Searchlight Pictures will release Day Watch (Dnevnoy Dozor) in theaters June 1, 2007. If you're a fan who has not seen the Russian version of this movie and you want to avoid plot spoilers, then don't click here. UPDATE: To find a screening of Day Watch in your part of the U.S., try the Landmark Theatres web site. Click on the extended post to watch the English language trailer.
Continue reading "Day Watch (Dnevnoy Dozor) : April 18, 2007 Today in Washington DC:
Russia: Friend, Foe, or What? April 18, 2007 See the extended post for the speakers' biographies.
Continue reading "Today in Washington DC: April 17, 2007 Thoughts on the 3rd Annual Russian IPO Conference
Director of Equity Financing, FINAM Investment Company, Moscow
This year the 3rd Annual Russian IPO Congress was held at the third venue in its history, but as usual, it lacked management expertise and received very little interest from the top government and industry officials. In fact, out of all declared Russian officials (Federal Financial Markets Service, the Russian Regional Banks Association, the State Duma, etc.) the only senior official present was the Deputy Chairman of the Central Bank of Russia. The lack of government participation resulted in equally low-key press coverage. However, these deficiencies were surmounted by some interesting reports and events. I am not sure whether the Russian news media will discuss it, but last week's conference was the first time when the managers of the leading stock exchanges in Russia came together in this new, perspective environment. Some of them are moving into new territory, but for others everything probably seems safely familiar. Continue reading "Thoughts on the 3rd Annual Russian IPO Conference" » April 16, 2007 Russian IPOs - Week 15 of 2007 Reviewed
Director of Equity Financing, FINAM Investment
Company, Moscow PWC Report: Europe Largest Global Equity Market for Second Year in a Row PricewaterhouseCoopers LLP released a report last week titled "IPO Watch Europe: Review of the Year 2006". The major aspects of their analysis are as follows:
Click on the extended post to read more. Continue reading "Russian IPOs - Week 15 of 2007 Reviewed" » April 15, 2007 Finding Quid Pro Quo with Russia
In case you missed it, Dimitri K. Simes published an interesting op-ed in the Los Angeles Times on March 22, 2007. In addition to serving as President of the Nixon Center, a think tank in Washington, D.C., Mr. Simes publishes the foreign policy journal The National Interest. This op-ed is very similar to another article we recently reposted here at Russia Blog by former Secretary of State Henry Kissinger. Play Ball with Russia Here's some good news: Russia is moving toward cooperating with the United States when it comes to Iran. This week at a Senate hearing, a State Department representative indicated that Russia could be expected to press Iran on the matter of nuclear proliferation. It's also becoming clear that the Kremlin would support further sanctions against Iran and would withhold nuclear fuel from the regime of President Mahmoud Ahmadinejad. But that good news could change. The Kremlin's movement toward the U.S. position on Iran comes in part from a reluctance to see a nuclear-armed Iran, concern over Ahmadinejad's unpredictability, eagerness to avoid a nuclear arms race in the Middle East and frustration over contractual disputes with Tehran. But it is also a gesture toward the Bush administration and European powers that Moscow wants to be viewed as a responsible player in the world arena. Click on the extended post to read the full article. April 13, 2007 Just How Pro-Russian is Yanukovich?
Editor of guardian.psj.ru and the now defunct (but much beloved) Intelligent.ru
Ukraine is at the top of the news again, and the Western media has once again taken up the old cliché about the pro-Russian Yanukovich vs the pro-Western Yushchenko. This nonsense is repeated so often -- practically each time the subject of Ukraine comes up -- that it has become sort of axiomatic, as in Euclid: not needing any proof or even inquiry. There is the bad guy Yanukovich and the good guy Yushchenko. This is a nice black-and-white arrangement - four legs good, two legs bad. It is about as axiomatic as the received wisdom that the Kremlin has killed another of those wretched Ukrainians, by the name of Litvinenko. Those Kremlin idiots went to the extraordinary expense of $60 million to buy enough Polonium-210 to lay a scintillating trail leading directly back to FSB headquarters. Silly asses. We regularly hear of contract killers in Russia and Ukraine doing length-of-pipe jobs for around ten thousand dollars, plus expenses, and no one is ever the wiser -- but what would the media sink their teeth into then, doughnuts? The press is a tender plant, and must be fed juicy fertilizer. Enough for a good stink. OK, let's forget about that ex-prison guard and Berezovsky stooge with a Ukrainian name. There is nothing to connect the Litvinenko case with the current Ukrainian crisis except my fury at the inanity of propaganda clichés -- and perhaps Mr. Berezovsky poking his nose into both of these events. Let's concentrate on Yanukovich's credentials as a pro-Russian politician. There are some eye-openers here -- for those, of course, who are capable of keeping their eyes open against the hard light of facts. Russian Prosecutors Open New Criminal Cases Against Berezovsky
The man the late Forbes magazine journalist Paul Klebnikov referred to as "The Godfather of the Kremlin" may have pushed his luck this week, when he called for the violent overthrow of the Russian government in an interview with the UK Guardian. Russian prosecutors have tried many times to extradite Boris Berezovsky from the UK to face fraud charges back in Russia. The British government has consistently refused these requests. As we have reported previously here at Russia Blog, after Anna Politkovskaya was murdered and Alexander Litvinenko died from radiation poisoning late last year, these extradition requests were no longer in the news. Today the UK Foreign Office issued a statement declaring that everyone in Great Britain must abide by the laws, and that calling for the violent overthrow of a sovereign elected government is unacceptable behavior for anyone residing in the country. Fearing deportation, Berezovsky backtracked today from his radical statements, claiming that he was only advocating "direct action" and non-violent resistance to the Russian authorities. The UK Guardian interview, however, made it clear that Berezovsky advocated the use of force if necessary to topple the "Putin regime". In light of his extreme rhetoric, shady past and close association with exiled fundraisers for Chechen terrorists, the question Russians ask is: why does anyone in the West still take this man seriously as an advocate for "freedom" and "democracy"? Continue reading "Russian Prosecutors Open New Criminal Cases Against Berezovsky" » April 12, 2007 Is Russian State Capitalism Working?
Director of Equity Financing, FINAM Investment Company, Moscow
Earlier this week we were introduced to three interesting articles, all of them posing the same question: is Russia's current model of development sustainable? Kommersant daily published a translation of Saturday's Financial Times piece titled, "NYSE is left in the cold as Russians flock to London" . A foreign policy blogger republished an article by Alexander Temerko, a former vice president of Yukos titled, "Russia: Buyers Beware". Both of these articles question the road Russia is taking in its development. This path probably appears very strange to Western eyes, with state-owned "national champions" growing rapidly alongside burgeoning private entrepreneurship, but all of us should not forget Russian history. With all of the turmoil Russians suffered at the turn of the last two centuries, we are not qualified to do things the nice and easy way. Frank Sinatra sang: "I did it my way"; Russians may also prefer to say: "we do it our own way". To this end, I would like to introduce another paper that was published in the Vedomosti daily on Monday: "A Model for Development: The Trap of the State Capitalism". This paper is was produced by A. Abramov, a strategist at Aton Capital and two fellows from the Institute for the Economy in Transition, a Russian economic think tank. The article has been published on the Institute's web-site. All three articles discuss the Russian economic miracle. All agree that while their evaluation of the Russian market may be negative in the medium to long term, international investors' enthusiasm for investing in Russia continues to grow. April 10, 2007 Diversifying Global Capital Markets:
The Rise of Europe, Asia and Russia Director of Equity Financing, FINAM Investment Company, Moscow
Last week (the 14th week of 2007) featured many discussions in the media regarding the growing role of new centers of investment activity around the world. The most recent trend of discussion started with an article by two managers at International Capital Strategies that was published in The Wall Street Journal on March 29 titled "Capital Warfare". Here are some notable observations from this piece: - "A recent survey of financial professionals found almost two-thirds believed that London would consolidate its position as the global center of finance by 2015, 13% predicted Dubai, 10% pointed to Shanghai and fewer than one in ten gave a nod to New York. The U.S.-led unipolar financial era appears to be slipping away." - "The U.S. faces stiff competition as an investment destination from resource-rich developing countries. "While the embrace of markets and capitalism by countries like China, Russia and even Vietnam represents a long-sought triumph over communism, the U.S. must nevertheless recognize the ancillary consequences of this victory. We now have to compete with them." - "Russia has recently raised enormous sums without directly accessing U.S. capital markets or investors (i.e. Rosneft and Sberbank) Click on the extended post to read more.
Continue reading "Diversifying Global Capital Markets: April 9, 2007 Goldman Sachs Expands Russia Operations
Director of Equity Financing, FINAM Investment Company, Moscow
Despite the negative news we frequently hear about Russia and the Russian economy, last week Russians received more positive signs from the world investor community. I mentioned earlier on my blog major investments by IFC and CISCO in Russia. This morning the news comes directly from Goldman Sachs. The multinational investment bank amazed us with a very unusual effort executed by its CEO, Lloyd C. Blankfein. Mr. Blankfein sent a letter to President Putin, and the Kremlin administration highlighted this letter in a statement on its official web-site. Here is a translated excerpt: "Foreign correspondents point to significant growth in the magnitude of Russia in the world economy. This is noted in particular, by L. Blankfein, USA, head of Goldman Sachs, a company that is involved in global investment projects. He would like to discuss in Moscow key issues of world economic tendencies, as well as suggestions for the expansion of [Goldman Sachs] contacts with the Russian government and private partners." Continue reading "Goldman Sachs Expands Russia Operations" » April 8, 2007 Easter in a Russian Town
See the extended post for photos of a Russian Orthodox priest consecrating Easter cakes and eggs in the small town of Naro-Fominsk 45 miles outside of Moscow. In the extended post, you will also see photos of Russian leaders attending the Easter night service in Moscow, which was aired on national television. Xristos Voskrese! (ХриÑÑ‚Ð¾Ñ Ð’Ð¾ÑкреÑе!)
This year Russian Orthodox Christians join Protestants and Catholics around the world today in celebrating the resurrection of Jesus Christ. Russia Blog wishes all of our readers a very happy holiday! Continue reading "Xristos Voskrese! (ХриÑÑ‚Ð¾Ñ Ð’Ð¾ÑкреÑе!)" » April 5, 2007 "Rise Up in Arms, O Russian People!"
Alexander Nevsky reviewed
Like many Americans who grew up in the twilight of the Cold War, my first memories of Sergei Eisenstein's film Alexander Nevsky come from the Tom Clancy novel Red Storm Rising. In Tom Clancy's vision of World War III set in the 1980s, the Soviet Union broadcasts the film to stir up the Russian people just before the Red Army tanks start rolling into West Germany. While young Russians still learn about Prince Alexander Nevsky in school, many of them are probably familiar with this name because of Russia's own version of Arnold Schwarzenegger, the actor and star of popular action flicks like Moscow Heat. (Excerpt from Mr. Nevsky's Russia Today TV interview aired in January 2007, spoken in his best Ah-nuld accent: "I didn't want to play Russian bad guys in Hollywood. I wanted to play a Russian action hero. I say let the Polish and Czech actors play Russian bad guys in Hollywood movies.") Today happens to be the 765th anniversary of the climactic battle on the frozen Lake Peipus depicted in the film. Two questions a modern viewer might ask are: has this example of historic propaganda from Josef Stalin's favorite director aged well? And does it present any themes relevant to post-Soviet Russia?
Continue reading ""Rise Up in Arms, O Russian People!" April 4, 2007 Echoes of February 1917 in Russia Today
Editor of guardian.psj.ru and the now defunct (but much beloved) Intelligent.ru
A note on my kind of Westernism. I am a Westernist in the sense that the culture of liberalism, historically speaking, is not endemic in Russia, that it was transposed onto Russian soil -- precisely from the West. Unfortunately, the term zapadnik "Westernist" is now often applied -- with sufficient reason -- to individuals who advocate the subordination of Russia's national interests to those of the West. I have absolutely nothing to do with this kind of Westernism; I am a Russian Westernist -- and there are plenty of us over here. So far as I can judge, Mr. Putin is one; a European to the core -- however hard the Western reader may find to accept this. -- Sergei Roy On February 27 this year you could not buy Rossiyskaya Gazeta in Moscow for love or money -- something unheard of since the heady days of perestroika. I failed to secure a copy, though that day's issue was printed in millions of them. Thank God, or Bill Gates, for the Internet. The reason for the furor? Alexander Solzhenitsyn's article "Reflections on the February [1917] Revolution," pegged to the 90th anniversary of that event. Originally written in 1980-93 as part of the mammoth, multi-volume (and totally unreadable) epic, The Red Wheel, it was printed in Russia in 1995 in the literary journal Moskva and passed quite unnoticed at the time. So why the frenzy [1] now? The reason is fairly obvious: it touches on some raw nerves of present-day Russian society. Looking back at the downfall of Russia's monarchy in February 1917, the various political forces of today are asking themselves questions like: What is its relevance for the current political and social situation? Was it a Good or a Bad Thing? Should Russia celebrate the overthrow of Russia's autocracy by freedom-loving forces in February 1917 -- and perhaps prepare itself for more battles in the cause of liberalism and democracy now? Or should it curse and mourn the event -- as Solzhenitsyn does -- and opt for stability, sovereignty, and supreme value of Russia's statehood? The two types of questions are expressive of the views of present-day Russia's two political camps distinctly unequal in strength. The gosudarstvenniki "statehood-niks," supporters of the "sovereign democracy" ideology, prevail both in their own numbers and in terms of electoral support. The oppositionists, though very vocal and well-represented in the media, are clearly outnumbered and stand for ever dwindling sections of the electorate (as the recent provincial elections have shown, to take just one instance). Like all schemata, this division is an oversimplification, but an overview of the recent and still raging debate shows: there is a case for drawing this main demarcation line. Continue reading "Echoes of February 1917 in Russia Today" » April 3, 2007 Kissinger on Russo-American Relations
In case you missed it... The Icon and the Eagle Ambivalence characterizes relations between Russia and the United States. President Vladimir Putin snipes at American conduct and policies, while his foreign minister reaffirms Russia's interest in a partnership with the United States. Washington seeks Russian assistance on nonproliferation while pursuing policies on Russia's borders that Moscow and many Russians consider highly provocative. In the meantime, both countries are threatened by radical Islam; cooperation between the nuclear powers of the world is imperative, and an emerging set of issues -- like environment and climate change -- can only be solved on a global basis. Given the extent to which their national interests have become interconnected, neither side can want or, indeed, afford a new Cold War. London Stock Exchange and MICEX
Promote Russian IPOs
Russia Blog contributor Vladimir Kuznetsov, director of equity finance at the Finam Investment Company, sends us his observations from the 2nd Annual Joint Capital Markets Conference held yesterday in Moscow. -The Editors Yesterday the MICEX exchange hosted a conference in Moscow - 2nd Joint Capital Markets Conference titled "IPO and Beyond: New Capital Market Products on the Horizon" organized by the London Stock Exchange and Russias MICEX Stock Exchange. You may look at the list of participants at this link. I would like to briefly summarize some of the speakers' remarks. The conference was heavily attended, with about 300 people present. At the beginning of his remarks, MICEX CEO Alexei Rybnikov stressed that we are currently witnessing explosive growth in the Russian stock market, i.e. - the general population is starting to participate in stock market activities Click on the extended post to read more.
Continue reading "London Stock Exchange and MICEX April 2, 2007 Morgan Stanley Investing in Russian Real Estate
In this post, Vladimir Kuznetsov, director of equity finance at the Finam Investment Company in Moscow, notes more foreign investment in Russia's real estate market and the release of two major reports on capital investment for modernizing Russian infrastructure. Mr. Kuznetsov also rounds up recent announcements from Russian banks, breweries, and food distributors about their plans to issue IPOs. -The Editors Morgan Stanley continues its drive for acquisitions of Russian developers. Morgan Stanley's Special Situations Fund III has recently acquired a minority stake in RBI development holding. According to experts, this is the biggest deal of its kind thus far in Russia -- some estimate it at about $200 million. This is the third transaction for Morgan Stanley in this sector, which previously acquired 10% of RosEvroDevelopment and minority shares in Moscow-based commercial real estate developer RGI International. Morgan Stanley recently announced that it plans to increase direct investments in Russia with a focus on Russian developers. For this purpose the bank plans to add about $1 billion to its fund. In another real estate market development, it has become known that Starr Investments Russia, controlled by Maurice "Hank" Greenberg, the former CEO of American International Group Inc., will invest hundreds of millions in Russian real estate with a focus on prime office space, residential housing and hotels, all of it initially in Moscow. Click on the extended post to read more. Continue reading "Morgan Stanley Investing in Russian Real Estate" » April 1, 2007 Buying Washington State Apples in Moscow
The new Ramstore Capitol shopping mall is about a five minute walk from the Universitet stop on the red line of the Moscow metro. The mall opened on December 2, 2006 - making it one of Moscow's newest shopping centers - and is located at Pr-t Vernadskogo 6. Ramstore Capitol features 130,000 square meters (1,398,800 square feet) of retail and meeting space on five levels, including a Karo Film mutliplex cinema. Karo Film and Formula Kino are two of the largest movie theater chains in Russia. According to the company, the total invested to complete this mall was $135 million. Click on the extended post to see more photos from ordinary life in Moscow. Continue reading "Buying Washington State Apples in Moscow" » |
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