Russia Stocks Slump Most In Emerging Markets As Rally Overdone

Russia suspends opposition leader’s sentence. Will it quiet criticism of Kremlin?

Appearances notwithstanding, most of the Olympic venues have been declared ready. The big exception is Fisht Stadium, where 40,000 spectators will attend the opening ceremonies Feb. 7. It looked far from completion on a recent visit, with the roof unfinished and much concrete for the interior unpoured. Failure is not an option. President Vladimir Putin reprimanded Akhmed Bilalov , vice president of Russias 2014 Olympics committee, on national television in February over delays in the completion of the ski jump complex. Bilalov fled the country. Message received. We have a very good coach, the mayor said, adding that Putin doesnt call him personally but frequently visits the venues. The president of the Russian Federation is personally monitoring the project. Pakhomov cheerfully fired off a long list of Sochis accomplishments , beginning with new power and water supplies for the whole region, 225 miles of roads, 25,000 additional hotel rooms. City Hall, on Soviet Street, was itself marooned within a construction zone, with a big fountain being dug in front and new walkways laid all around.

Brazil to ask Russia for permission to question Edward Snowden

His campaign touched on widespread corruption under President Putin and anti-migrant sentiments , reports Agence France-Presse. Since the court today did not overturn Mr. Navalnys guilty verdict, he is unable to run for public office until his suspended sentence is fulfilled. He has expressed interest in running for president in 2018. The suspension of the sentence Wednesday suggested a willingness of the Kremlin to accept the trade-off in greater legitimacy for the political system here in exchange for tolerating Mr. Navalnys often stinging criticism of Mr. Putin, reports The New York Times. Reuters notes that if he had been jailed today, street protests could have exploded once again and it would have invited more international attention and criticism of the rule of law and democracy in Russia. The Christian Science Monitors Russia correspondent, Fred Weir, reported in July that when asked Do you think that the trial of Alexei Navalny is the result of his political activities and his opposition views? nearly 60 percent of Russian respondents answered “yes,” while just under 20 percent said “no.” Increasing numbers of people insist that they have no faith in Russia’s courts , nor in the law enforcement bodies that choose which investigations to pursue and what evidence to admit, Mr. Weir wrote. They include US Ambassador to Russia Michael McFaul , who issued a distinctly undiplomatic Tweet after hearing of the [July 18, 2013] verdict: “We are deeply disappointed in the conviction of @Navalny and the apparent political motivations in this trial.” Former Soviet leader Mikhail Gorbachev , who has repeatedly lambasted Mr. Putin for hijacking Russia’s democratic experiment, posted a comment on his foundation’s websitecontending that the conviction of Navalny “is proof that we do not have independent courts” in Russia.

15 on a closing basis. OAO Severstal, Russia s second-largest steelmaker, dropped 1.2 percent to 295 rubles. OAO Gazprom, the natural-gas export monopoly, declined 1.4 percent to 155.75 rubles. OAO Surgutneftegas, a Russian oil producer, tumbled 2.4 percent. The 14-day relative strength index on the Micex was at 70.3 yesterday, above the level of 70 that suggests to some analysts a security has been overbought and is poised for a decline. U.S. President Barack Obama signed into law a measure ending the 16-day U.S. government shutdown and extending the nations borrowing authority until early next year. The Micex advanced 3.4 percent this month amid optimism a deal would be struck. Crude fell 0.6 percent to $101.73 a barrel in New York . Many investors expected the U.S. government to come to a resolution and hence were buying riskier assets, like Russia, Vadim Bit-Avragim, who helps manage about $4.4 billion at Kapital Asset Management in Moscow, said by phone. And once the decision was made, many decided to fix profits after the rally. At the same time, the U.S. agreement will have to be revisited soon, which creates uncertainty.

11, 2013, former National Security Agency systems analyst Edward Snowden speaks during a presentation ceremony for the Sam Adams Award in Moscow, Russia. Snowden was awarded the Sam Adams Award, according to videos released by the organization WikiLeaks. The award ceremony was attended by three previous recipients. (AP Photo)The Associated Press In this image made from video released by WikiLeaks on Friday, Oct. 11, 2013, former National Security Agency systems analyst Edward Snowden speaks during a presentation ceremony for the Sam Adams Award in Moscow, Russia. Snowden was awarded the Sam Adams Award, according to videos released by the organization WikiLeaks. The award ceremony was attended by three previous recipients. (AP Photo)The Associated Press In this image made from video released by WikiLeaks on Friday, Oct. 11, 2013, former National Security Agency systems analyst Edward Snowden smiles during a presentation ceremony for the Sam Adams Award in Moscow, Russia. Snowden was awarded the Sam Adams Award, according to videos released by the organization WikiLeaks. The award ceremony was attended by three previous recipients. Snowden, who is charged by a U.S. court with violating the Espionage Act for disclosing the classified NSA programs, has been granted asylum in Russia. (AP Photo)The Associated Press Next Slide Previous Slide BRASILIA, Brazil Brazil’s Federal Police and a Senate investigative panel said Tuesday they want to question National Security Agency leaker Edward Snowden to learn more about the spying program that targeted Latin America’s biggest country. According to information leaked by Snowden, President Dilma Rousseff’s communications with aides were intercepted, the computer network of state-run oil company Petrobras was hacked and data on billions of emails and telephone calls flowing through Brazil were monitored by the NSA.

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