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Moscow City Duma has passed a legislative initiative onto Federal Duma that would make changes to the law governing the sale and marketing of alcoholic beverages. The bill adds beer to the list of controlled beverages.

The oil production in Russia has gone up by 10.7 percent in the first few months of 2004, compared to the same period in 2003. High oil prices in both the Russian and the international markets might make 2004 one of the best years in the history of the Russian federation.

Over 50,000 population centers of Russia, from villages to small cities do not have access to paved roads that can be used year around. Russia's major problem of bad roads will be solved by Russian government's plan to build toll highways.

The World Bank and many other Russian politicians feel that Russian oligarchs have led to the country's economic problems. The changes required to reshape Russia's big business would affect many projects of the government.

The Baltic Sea is becoming the main export terminal for Russian oil surpassing that of Black Sea Shipping, as mentioned by a recent International Energy Agency. The country's ships will find new buyers in other ports if Baltic and Nordic ports choose to close themselves to Russian exporters.

A belief that the 'Insider Trading' law may increase the government's power to look into possible cases of insider trading is presented. However the same may not be of much help as it is held that the main problem of insider trading is concentrated in government bodies and agencies, which ultimately has given rise to unscrupulous investors.

The conflict between Gazprom and Belarus began in January 2004 as Gazprom hiked the price of gas it supplied to Beltransgaz, BelarusE State Gas Company. Gazprom's aims to gain 50 percent stake in the Belarusian company but Beltransgaz claims that the company is worth five billion dollars, which would mean 2.5 billion dollars stake for Gazprom that is being viewed as pointless.

The economic experts in the United Nations Economic Commission for Europe (UNECE) conference feel that the global economic recovery is finally stabilized and will continue throughout 2004. Various growth levels of the Gross Domestic Product (GDP) in different countries and the possible threats to be faced by the Russian economy are discussed.

There has been an increase in the real estate prices in Moscow. Political and economic stability, business development, real income growth and an influx of foreign investments are the main factors accelerating the growth of real estate prices.

The fall in the American currency has resulted in the ruble-dollar exchange rate to reach the pre-August 1998 level by the end of the year. The reasons for the ruble gaining strength is due to the increase in the oil and gas prices and the Russian investors and consumers trying to sell their dollars.

Record-high oil prices are affecting the world economy with the primary factor being high global demand. According to experts, the only possible solution for lowing current oil prices is to increase supply significantly.

The rise of the dollar against the Russian ruble is discussed. The abnormal gain of the ruble value hurting the exporters and the falling reserves of the Central Bank were considered to be the two main reasons for the weakening of the ruble against the dollar.

The Mayor of Moscow, Luzhkov, has announced that the Rossiya Hotel would be demolished after the completion of the reconstruction of the Moskva Hotel, to build a parking lot, a hotel and an entertainment complex. It is expected that it would be the largest one of its type in recent history, if the project goes through.

An investment conference held in February 2004 by the American Chamber of Commerce to discuss Russia's present day economic situation as well as the state of Russian - American relations turned into a discussion about the government's attitude towards business. Evgeny Yasin who represented union of industrialists and entrepreneurs said that Russian business was experiencing growing pains as the government was represented by German Gref who tried to convince American business leaders to invest long term in Russian economy.