The discussion on the need for currency liberalization has been put to rest. The new law "On currency regulation and currency control" has been signed by the President of Russia and will come into force on June 17, 2004. For what? The essence of the current federal law "On currency regulation and currency control" can be reduced to the principle: Russia has currency regulation, all questions should be addressed to the Bank of Russia.

LONDON - Home-brewed spirits have a bad reputation in Europe. The popular belief here is that drinking various types of moonshine can cause serious illness or even death. But scientists have found that this is not entirely true. According to a study conducted by the International Center for Alcohol Policies (ICAP), home-made spirits are not only safe for the most part, but are often superior in quality to products from well-known manufacturers.

Arkhangelsk Pulp and Paper Mill . Moscow Administration. Sergei Baidakov was appointed prefect of the Central District of Moscow instead of Gennady Degtyarev. Yuri Alpatov became prefect of the Western District instead of Vladimir Kiryushin, and Nikolai Evtikheev became prefect of the Eastern District instead of Boris Ulyanov. Baidakov was born on February 11, 1965 in Balashikha (Moscow Region).

In 2003, Russia experienced a real boom in sales of new foreign cars. Sales grew almost twofold, while sales of new domestic cars stabilized, and used foreign cars fell altogether. According to experts, the trend will continue next year: more and more Russians will give preference to products of Western automakers. Analysts, manufacturers and sellers sum up the results of the year on the Russian car market.

In the midst of negotiations between Ilim Pulp and Continental Management to end the corporate war for pulp and paper mills, a scandal broke out at one of them, Bratsk LPK. About two dozen people staged a picket, demanding higher wages for the mill's workers. Ilim Pulp believes that the protest is in Continental Management's favor, and emphasizes that not a single employee of Bratsk LPK is participating in the picket.

In early November, the board of directors of the Russian national long-distance operator Rostelecom OJSC appointed Dmitry Erokhin as the company's new CEO. The previous CEO of the telecommunications monopoly, Sergei Kuznetsov, was sent to develop another subsidiary of Svyazinvest, the company North-West Telecom, the current state of affairs of which was worrying the main shareholder.

The insert to the article "Managers under the hood of the Federal Securities Commission" (No. 231 of 12/17/2003, p. B1) incorrectly indicates the total assets of US mutual funds, which amount to $7 trillion. The editors apologize.

The management of Moskvich seriously intends to resume assembly of cars at the enterprise as soon as possible. As Vedomosti has learned, the options under consideration include resuming production of the Moskvich-2141 model, assembling cars on the VAZ platform, or organizing joint production with a foreign automaker. Analysts consider only the last option viable. The Moskvich automobile plant ceased production in 2002.

The falling dollar is becoming less and less popular with bankers. According to the Central Bank, the volume of foreign currency loans issued by banks to corporate borrowers decreased in October. Some citizens have also cooled towards the dollar - the total volume of foreign currency deposits has fallen. According to the Central Bank, since the beginning of the year, the loan portfolios of Russian banks (excluding loans to the population) have increased by 36% to 2.3 trillion rubles.

The second round of elections in Bashkiria, Sakhalin, Tver and Kirov regions did not bring any sensations. The favorites of the first round won by a significant margin. Experts say that in all four regions the Kremlin's support ensured the success of the winners. Last Sunday, the second round of elections for the President of Bashkortostan and the governors of the Tver, Sakhalin and Kirov regions took place.

A small gaming software company called Mythic Entertainment has filed a lawsuit against Microsoft, accusing the company of illegally using its trademark. The dispute is the latest manifestation of the growing competition in the market for massively multiplayer online games. The conflict was sparked by a new Microsoft game called Mythica.

The New York Stock Exchange (NYSE) may require its former chairman and CEO Richard Grasso to return between $50 million and $100 million of his $139.5 million payday. Grasso is preparing a counterattack, seeking the $48 million he previously turned down. After extending Grasso's contract through May 2007 in June, the NYSE ordered him to be paid $139.5 million in August (salary, bonuses, savings, and pension funds for 36 years of service).

Novosibirsk retail chain "Treshka" refused to lease two stores, which were immediately occupied by its competitor - the retail chain "Sibiriada". "Treshka" explains its decision by the unfortunate location of the premises and high rent. "Sibiriada" is confident that it will be able to make a profit in these stores. The Treshka discount chain includes seven stores (sales area - 300 - 600 sq. m).

Vladimir Putin will find sparring partners in the presidential elections. LDPR leader Vladimir Zhirinovsky promised that his party would nominate a candidate. Gennady Zyuganov or Gennady Semigin will be nominated by the CPRF. The Rodina bloc is also preparing a "reserve" candidate. Vladimir Bryntsalov, a loser in the 1996 elections, has also notified the Central Election Commission of his presidential ambitions.

Yesterday, members of the Association of Retail Companies (AKORT) gathered for a special meeting to discuss their pricing policy after the abolition of the sales tax. The association claims that the 5% price reduction from January 1 is a done deal. Retailers who are not members of the association call the statements by AKORT members a PR stunt.