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The Russian banking sector entered a period of uncertainty following attempts to ward off symptoms of Asian flu in fall 1997. The Moscow stock market mirrored the plunge of east Asian markets while currency pressures increased after investors took $8 billion to $10 billion out of the country. Moreover, the government has scaled down the authorized bank system which gave private financiers access to budgetary funds. Banks' profits from privatizations have also declined., Russia is in the midst of unsettled times. Craig Mellow reports from Moscow on the epic struggles occurring in the country's political leadership as well as in the chaebol-like financial [...]

Political rivalries pose serious threats to Russia's banking sector, which has witnessed remarkable improvements since 1997. After years of expansive growth and continued recovery, political struggle among the country's most prominent figures has created disastrous effects on banks and the Russian economy as a whole. One of the most controversial issues involved deputy finance minister Andrei Vavilov, who was charged of misplacing public funds totaling to as much as $500 million., Russia has witnessed the beginnings of a recovery. But as Craig Mellow reports from Moscow, the economic and financial sector, including banking, has become one of the battlegrounds for heavyweight [...]

Russian banks have gained considerable influence since 1996. These banks currently have capital base of $350 million and assets worth $60 billion. They have proven to be the most effective liaisons between government and industry and provide the expertise which allows local businessmen to enter and compete in foreign markets. These banks also arrange clients into financial-industrial-groups that allow them to invest in each other., By international standards Russian financiers remain bit players, but they have used their influence and know-how to build economic clans far beyond their physical means. What a difference a year [...]

Russian bankers claim that the country's financial sector is not in crisis. They explain that the apparent chaos reigning over the domestic banking industry is actually a temporary effect of economic reforms started in 1995. Unfortunately, interest rates in the country remain pegged at 30%-50% in hard currency, and banks are still reluctant to credit the average domestic industrial customer. Nevertheless, the Russian financial sector has been showing signs of progress, most prominent of which is a leaning towards renationalization., Amid the apparent chaos that exists in the Russian banking sector, some positive signs are emerging. There is no crisis in Russian banking, Russian bankers never tire of explaining. There [...]

The banking industry is playing a major role in Russia's economy due to the government's reliance on commercial banks for funds. In 1995, the national government borrowed loans from banks using controlling shares in public corporations as collaterals. Moreover, majority of Russia's foreign trade is funded by banks. The government has also appointed various banks to assist the State Savings Bank in managing public funds., The banks are now so entrenched in the system that administrations of any persuasion would have difficulty dislodging them. This was supposed to be the winter that Russia s banks [...]

The Russian banking industry is moving in the right direction. Although Russian banks still have some way to go to provide service on a European level, they have become more civilized and are no longer engaged in the hard-sell duping of customers. Foreign bankers commend the progress being made by their Russian counterparts, particularly in providing competitive compensation. Many local bankers themselves feel that they have learned all they need to know about their business and are now eager to focus their attention on how they can help rebuild their country., New banks, both foreign and domestic, are adding excitement to Russia's financial system. There is no commercial risk. There is no market risk. There is no performance risk. There is [...]

Since the fall of Communism Russia has seen a startling increase in the number of banks. Many of them have the latest electronic technology. Some of the new banks are related to the old ministries and are not commercial enterprises in the western sense. The truly commercial banking operations have been very successful since their inception in 1988. Some Russian banks have built up large stocks of foreign currency for their trading operations., Life for the Russian banking industry holds no more certainty than for anybody else here. New central bank capital requirements may close four-fifths of the country's 4,000 or so commercial [...]

The development of a world-wide economy, and the expanded use of computers by business has resulted in an increase in white collar crime, which has in turn led to a rapid increase in the number companies offering private, financial investigative services. The leading companies include National Investigative Services Corp (Niscor), staffed primarily by former IRS employees; the largest firm, Kroll Assoc, known for its connections to Wall Street and the junk bond market; Parvus Company, dominated by former CIA and National Security Agency (NSA) agents; and Business Risks International, which uses former FBI agents. The areas of white collar crime and corporate practices providing business for the companies include both sides in mergers and acquisitions; financial fraud and irregularity; patent and trademark infringement; and violations of environmental laws.

Tatyana Paramonova, head of Russia's Central Bank, is a tough administrator and policy decisionmaker. She has been strict about financial activities that do not contribute to economic stabilization. Her monetary policy has been favorable to consumers in terms of lower inflation rate and cheaper imports. However, bankers have not been favorably disposed to her especially after she raised currency reserve requirements., The Central Bank's Tatyana Paramonova has halted play time for the bank boys. What is a poor, Russian banker to do? This country's grim new passion for economic stabilisation has [...]

Private sector lending remains one of the most under-developed business segments in Russia. According to investors, the domestic private lending market is a highly risky business with a 25% to 30% non-return rate. Problems are further aggravated by the series of assassination attempts launched on financial executives, some of which have been successful. These events have forced a number of investors to venture in government securities., New central bank governor Tatyana Paramonova is cracking down in Russia's Wild West banking scene. Nikolai Dengov - the young president of First National Moscow Bank - endured Russia's arduous [...]

Turn off the rublyevsky highway 12 miles west of Moscow, negotiate two unmarked lanes, say the right name at the unmarked gate and a guard with a Kalashnikov will wave […]

Focuses on the transfer of science and technology from Russia to the world economy. Impact of political and social changes on the technology transfer; Interest from foreign financiers to support Russian science; Problems in adapting Russian science to the global mainstream; Perceptive differences between Russian and Western experts.

Looks at the efforts of Chevron to turn a corner of Kazakhstan into an oil capital of the world. The large oil strike in Tengiz proven to be the richest new oil field in 20 years; The investment made by Chevron and the risks; The competition from other big-oil rivals; The problems that lie in the geography and the remote sight; The concerns over the political stability of Kazakhstan.

Discusses the handful of powerful Russian financiers who control much of the nation's post-Soviet economy. Background of how this capitalist elite came to be; Criticism which these men have received from foreign observers, including for connections to Russian organized crime; Their connections with the government; Vladimir Vinogradov of Inkombank; Vladimir Potanin of Uneximbank; Alexander Smolensky of Stolichny Savings Bank; Others.

This article reports that although foreign investors have a right to feel wary, the hardy seeds of a new, native-born capitalism are slowly taking root in Russia. Conversations with ordinary people in any large Russian city reveal several changes. From their ancient habit of passivity in the face of arbitrary power, millions of Russians have turned to seeking their fortune with an aggressiveness that can overwhelm the hardest-nosed Westerners. These people are ruthless, exclaims Bernard Sacher, a Goldman Sachs veteran who now manages the Moscow brokerage Troika Dialog. One way or another, Russia believes it will have to contend with capitalism--with money and with the rest of the world that lives by its dictates.

Karen Umland, portfolio manager of Dimensional Fund Advisors' (DFA) Emerging Markets Value I Fund, seldom leaves DFA's home base in Santa Monica, and completely ignores the quality or otherwise of company managements. Still, she and her portfolio management team have proved to be the best in their business over time.

States that if spontaneous guitar music, ski instructors who spout about Pushkin, and uncrowded powdery slopes are your thing, get to Mount Elbrus, Russia, before they turn it into another Saint Moritz. Miseries of Russian travel; Low cost; Ungroomed slopes; Europe's tallest mountain; What they do for entertainment.

For one client in the food industry, says Ruth Stanat, president of Strategic Intelligence Systems, Inc., New York City, competitive intelligence means getting advance word on the competition's new products. […]

BOLD STRATEGIES FOR A BRAVE NEW MARKET STONE CONTAINER BUYING IN NOW TO BEAT THE RUSH LAST YEAR ROGER STONE, chairman and CEO of Stone Container, took 250 top managers [...]

You've seen all those inviting display ads in national newspapers. Did you ever wonder who finally got hired? In this age of networking and headhunting, the humble newspaper want ad […]

Five case studies of innovative and successful new products are presented, including DuPont's Stainmaster carpet, the New Pig Corporation's industrial maintenance sock, Hormel & Company's Top Shelf microwave food line, Alza Corp and Ciba-Geigy Corporation's Estraderm drug delivery system, and American Express Company's Optima credit card. Examination of the development and marketing of these products suggests that innovativeness was emphasized over gimmickry, that the companies involved had to set aside old self-images of which they had been fond, that the firms basically remained within the business they knew, and that the new products required almost entire devotion of time for months at a time.

The July 20, 1989 issue of the New England Journal of Medicine includes a study of physicians which shows that doctors who had taken an aspirin every other day had heart attack rates that were 47% lower than physicians who had not taken aspirin. These findings substantiate previous research from the Harvard University School of Medicine showing a connection between heart attack reduction and aspirin. Sterling Drug Inc, makers of Bayer aspirin, and other analgesic manufacturers hope to capitalize on the research because it is predicted that aspirin sales could expand by more than $600 million. Before any company can put heart attack reduction claims in their advertising materials, however, the Food and Drug Administration plans to meet with an outside committee of scientists on Oct 5-6, 1989 to develop boundaries for any advertising that draws conclusions from the Harvard study.

A predicted global warming trend or 'greenhouse' effect may entail not only difficulties for the business community, but opportunities as well. A recent seminar sponsored by the Climate Institute drew representatives from major companies such as IBM, General Electric, and the major auto-makers to learn about the effects of climatic changes and the possibilities for 'meteorological markets'. Rising global temperatures stimulated by increased carbon dioxide in the atmosphere and the presence of chlorofluorocarbons may affect planning of electric and gas power plants, beach nourishment programs, erosion control, the fishing industry, agriculture, and forestry.

The number of executive out-placement firms has grown by 35 percent annually since 1980; in 1986, 154 firms took in $220 million in fees for out-placement services. Helping displaced executives cope with the psychological problems of being fired is as important a function for the employment agencies as job placement. The typical out-placement candidate is middle aged, makes $50,000 a year, and has ten years of service with the former employer. Roughly one quarter of all out-placement candidates start their own business or go into consulting, 29 percent go from a position in a large corporation to another large corporation, and 42 percent take jobs with smaller companies.

Hill & Knowlton Inc CEO Robert Dilenschneider has helped the company become the biggest public relations (PR) firm in the world under his lead. Since 1985, Hill and Knowlton's billings have increased from $80 million to $145 million, but Dilenschneider is still not satisfied. He believes that US corporations are just now beginning to understand that PR is as significant for a company's welfare as marketing or financial management. He feels there are six specific reasons why PR is critical to corporations including: increasing speed of communications; increasing oversight by governments; and increasing mergers and acquisitions. Dilenschneider guides his company by the two watchwords 'specialization' and 'globalization', and has worked to recruit experts from various professional fields to help promote specialization in an era of worldwide markets.

Detroit's Focus: HOPE is a nonprofit organization that trains entry-level machinists. Focus: HOPE is funded by the City of Detroit and the federal Job Training Partnership Act (JTPA). The need to improve US international competitiveness through productivity gains has focused increased attention on JTPA and programs it supports such as Focus: HOPE. The Reagan Administration wants to add $650 million to JTPA's $3.3 billion budget, with emphasis on helping displaced workers find new, private sector employment. Critics claim that JTPA spends money on 'creaming': helping individuals who would find employment anyway. Congressional consideration of jobs programs should two objectives: (1) expanding counseling and short-term training for well-motivated, capable individuals, and (2) helping those who are less capable and motivated as well.

President of the American Red Cross Richard Schubert has lead the national organization of 2,800 local chapters and 1.4 million volunteers since 1984 when he reduced staff and attempted to create a strong leadership program. Schubert has helped to guide the organization into becoming involved with two important issues, in addition to its traditional work with the nation's blood supply: AIDS education and homelessness. An internal Volunteer 2000 report, however, points to several areas where more improvement is needed, despite increased leadership. Few minorities are involved in the organization, and the report firmly supports the notion that more focus should be placed on volunteers.

The Federal government is attempting to eradicate organized crime from labor unions by setting up government-run trusteeships of unions that have connections with the Mafia. Two unions recently taken over by the government are Local 560 of the Teamsters in New Jersey, and the District Council of Cement and Concrete Workers in New York City. However, the government's program has so far met with mixed success. While corrupt union officials have been removed from office, the influence of these leaders within these unions remains strong. One reason given for this is that the racketeers have intimidated dissidents, another is that the workers support the mob-tainted union leaders. Corrupt employers who agree to 'sweetheart' contracts with the unions are also responsible. The government will not succeed in excising organized crime from the unions until they gain the trust of the rank and file members.

Esther Dyson is a computer industry analyst and publisher of an influential computer industry newsletter, Release 1.0. Her opinions on the industry and new products are sought by such important industry figures as John Sculley of Apple Computer, Mitch Kapor of Lotus Development, and Bill Gates of Microsoft. Dyson's influence is attributed to her ability to clarify abstruse technical matters, and to separate hype from reality.

Twenty two percent of Harvard Business School's (HBS's) class of 1985 went to work for consulting firms, with an average base salary of $55,000. Although HBS graduates have a good reputation, some qualities of HBS graduates and the HBS program indicate that instead of teaching leadership, the school may foster conformism. HBS students seem to lack a strong moral character and creative vision. HBS students are 'doers' but seem to possess a strong ruling class consciousness.

The Russian Duma's election of Sergey Kiriyenko as Prime Minister on the third round of voting proved that self-interest is at the heart of Russian politics. However, the Russian economy is continuing to develop despite political events. Recent foreign investments in the car industry include an $850 million Fiat plant, Merloni and Siemens have entered the white goods market, and the service industry is continuing to see innovation. Moscow's development is moving further ahead of the regions, but the economic knowledge gained here is spreading to the rest of the country.

Foreign investment in Russia is ongoing although the political climate continues to be volatile and reforms still have a long way to go. The consumer market is healthy, with the country set for economic growth. However, foreign investment in manufacturing, other than the food sector, remains patchy, as does investment in natural resources.

Instability in the Russian political situation is not affecting business and industry which is predicted to make a continuous improvement up to the year 2000. Investment for abroad increased to $11 billion during 1996 whilst the domestic economy has been restricted. Yet in many areas the Russian authorities use bureaucracy or legislation to exclude foreign investment. In mining, the oil industry and heavy industrial production strict laws ensure foreing comapnies are prohibited from making investments. Some goods, such as home electronics and foods have reached market saturation.

The re-election of Boris Yeltsin in Russia is set to encourage further Western investment and economic growth is expected to continue. Inflation for 1996 is forecast to fall to 50% by the end of the year, against 130% in 1995. Among the new government's most important long-term goals are the reform of the tax system, which is unfavourable to business growth, and changes to the Law on Production Sharing in the oil industry.

Pres. Askar Akayev's capitalist slant towards 'privatization, low customs barriers' and a stable currency has enabled the development of a commercial banking sector in Kyrgyzstan. The country currently has 18 banks, five of which are foreign-owned in keeping with its thrust to liberalize foreign ownership of banks. The 1996 presidential elections, however, could put Akayev out of office., Kyrgyzstan, a mountainous republic of 3.7 million people, just past Uzbekistan on the way to China's nuclear free-fire zone, does not at first glance seem like a rising international financial [...]

This article focuses on space probes that show evidence of inhabitable environments in moons orbiting gas planets in the Solar System. Moons that are being explored include Jupiter's Europa and Saturn's Titan and Enceladus. Planetary missions that provided pictures include the Voyage spacecraft, the Galileo mission to Jupiter and Cassini to Saturn. It discusses the study on Europa's lines that appear etched in to its ice crust and the Enceladus Life Finder mission.

Ukrainian sovereign debt may appear attractive to investors despite the high yield spreads. Their appeal comes from the country's low debt-to-GDP ratio, which stands at 21%.

A Morning Jolt For Bored Boards RETIRED U.S. NAVY ADMIRAL THOMAS Hayward, University of Southern California president James Zumberge, and venture capitalist Paul Bancroft III may all have a new [...]

The article discusses the U.S. satellite known as the Deep Space Climate Observatory (DSCOVR) as of Summer 2014. According to the article, DSCOVR is under the control of the U.S. government agency the National Oceanic and Atmospheric Administration (NOAA) but tested by engineers from the U.S. National Aeronautics and Space Administration (NASA). According to the article, the DSCOVR project is the product of the revamped Triana satellite program, also known as Goresat, envisioned by former U.S. vice president Al Gore as a way to track climate change on Earth.

The article discusses the development of passenger jet technology in the Soviet Union. Focus is given to the work of Soviet aircraft designer Andrei Nikolaevich Tupolev, particularly the Tu-104 jet-powered airliner and the multiple fatal accidents associated with it and its predecessor, the Tu-4 jet bomber.