The Russian government takes environmental violations seriously

Dubai is backing a Kremlin-linked energy company in an offer to buy the last and biggest of Russia's wholesale power-generating companies in a potential $5bn-plus deal that could mark the first strategic foray into Russia by a Middle Eastern fund. Anatoly Chubais, Russia's former privatisation chief and chief executive of Unified Energy Systems, said on Monday that Roskommunenergo, a Russian energy company, had joined Dubai World the investment arm of the United Arab Emirates to offer to buy OGK-1.

Cartoon

fuel price India fails to shield consumers A pressed Indian government raised petrol and diesel prices by 10 per cent on June 4, curbing losses to its state-owned refiners but stoking inflation and risking a political backlash. Petrol and diesel prices are now dearer by Rs 5 and Rs 3 a litre, while the price of an lpg cylinder has gone up by Rs 50. The hike triggered protests across the

Jeddah: Two days after inflation figures threw up a 13-year high of 11.05%, largely attributed to the hike in fuel prices, finance minister P Chidambaram cautioned oil producers that they would also suffer in case the global economy slows down or slips into recession due to high oil prices. India, he said, had passed on barely 9% of the required price increase to customers three weeks ago and the result was that inflation crossed 11%. Even oil producing countries like Indonesia, Russia, Saudi Arabia and Venezuela face double digit inflation up to 29.3%.

Countdown Begins: You can't go to Vienna, says Left, leaving UPA with only two options: either go for broke or give in, last a full term; next meeting June 25 What the Congress kept delaying finally happened today: its moment of reckoning has come, after the Left made it clear it would not let the Government go to Vienna to confirm the safeguards agreement, the key first piece in the operationalisation of the Indo-US nuclear deal. Related Stories

Russia has come out in support of the Indo-US nuclear deal. But it has said that a draft agreement with Moscow could not be signed in view of international laws that Russia recognized. Senior government sources said that the Russians were always aware that fresh projects not covered under past agreements could not be initiated without an exception from the Nuclear Suppliers Group, but some expression of intent that would have indicated the two sides were engaged could have been possible.

with the India-usa nuclear deal making little progress, Russia and the us signed an agreement for bilateral cooperation in the field of civilian nuclear energy to facilitate trade and joint

The waters are rarely calm for finance ministers attending Group of Eight meetings. As soon as the stewards of the global economy feel ready to take some pride in navigating through one squall, they get a better view of others looming ahead. At the G7 gatherings this year in Tokyo and Washington - Russia is only invited once a year - the prime concern was stabilising global financial markets as credit dried up, banks teetered and economic prospects dimmed.