moscow news

MOSCOW, May 4 (RIA Novosti) - Russia"s Reserve...

MOSCOW, May 4 (RIA Novosti) - Russia"s Reserve Fund shrank by 13.7% to 3.551 trillion rubles ($106.81 billion), and the National Prosperity Fund declined by 1.6% to 2.869 trillion rubles ($86.3 billion) in April, the Finance Ministry said on Monday. The Reserve Fund was set up to cushion the federal budget against a fall in oil prices, and the National Prosperity Fund was designed to help the government carry out pension reforms. So far this year, Russia has spent 1 trillion rubles ($30.3 billion) from the Reserve Fund to cover the federal budget deficit, the Finance Ministry said. It said a total of 1.6 trillion rubles would be spent from the Reserve Fund to cover the deficit in the first half of 2009 alone. Russia posted a budget deficit of 50 billion rubles ($1.5 billion), or 0.1% of gross domestic product, in the first quarter of this year. Russian Finance Minister Alexei Kudrin earlier said budget spending had increased in the first quarter as the government allocated additional funds for anti-crisis measures, in particular measures to support the pension system, regional governments and key sectors of the economy, such as the defense complex and the auto industry. He said the largest budget deficits were expected in the second, third, and possibly fourth quarters, as the government spends more on anti-crisis measures. The minister said the projected 7.4% federal budget deficit in 2009 would be covered by the Reserve Fund.

MOSCOW, April 28 (RIA Novosti) - Lokomotiv...

MOSCOW, April 28 (RIA Novosti) - Lokomotiv became the second Moscow club in a month to dismiss their trainer after Rashid Rakhimov was fired on Tuesday. Former Lokomotiv Moscow midfielder Vladimir Maminov will take over as caretaker manager. A statement on the club"s official website gave no reason for the decision, but speculation had been rife that the 2002 and 2004 Russian champions would part ways with the 44-year-old Tajikistan-born coach after the team was beaten 1-0 at home by newly promoted Kuban at the weekend. The defeat left Lokomotiv, the last Russian club to reach the group stages of the Champions League, in 12th place in the 16-team Premier League. Rakhimov"s dismissal comes less than two weeks after Spartak Moscow fired Danish coach Michael Laudrup over "unsatisfactory results." Spartak have won both of their games since general manager Valery Karpin came out of the boardroom to take control.

Russian and NATO Chiefs of Staffs will meet...

Russian and NATO Chiefs of Staffs will meet in Brussels on January 26 for the first time since the improvement in ties between Russia and the alliance, Russia"s envoy to NATO said on Wednesday.