InfoAnda - Analysis: Putin disavows, but won't ditch, state capitalism |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Williams-Sonoma Q4 Profit Grows On Sales Strength, Announces Dividend Hike | 23 March 2010
China returns to trade surplus in April | 10 May 2010
Iraqi provincial election results | 20 February 2009

S’pore urges all parties in Gaza conflict to work towards ceasefire | 29 December 2008

Forum Views () Forum Replies ()

Read more with google mobile : Analysis: Putin disavows, but won't ditch, state capitalism |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Full Focus Photos of the week Our top photos of the week. See more Images of May Follow Reuters Facebook Twitter RSS YouTube Read Sizing up Penn State's liability in abuse scandal 12:37am EDT Turkey's Gul says downing of jet cannot be ignored 6:03am EDT Turkish, Syrian forces seek downed Turkish jet 11:46am EDT Sandusky found guilty on 45 of 48 sex abuse charges | 10:47am EDT Egyptians find out their next president on Sunday | 10:58am EDT Discussed 167 U.S. deserter in Sweden steps forward after 28 years 124 Obama campaign requests outside Republican group disclose donors 119 House panel to vote on Holder contempt charge: aide Watched Banks to the rescue, sort of Fri, Jun 22 2012 Napolitano: Technology backed by intelligence is best weapon agains threats Fri, Jun 22 2012 A look at the UK’s most beautiful face Thu, May 10 2012 Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Hunting hogs in Alabama The wild boar was once the most prized catch in ancient Greece. Slideshow Rise of the megacities Cities of over 10 million are growing fast. Slideshow Analysis: Putin disavows, but won't ditch, state capitalism Tweet Share this Email Print Factbox Russia's privatization plan 10:44am EDT Analysis & Opinion The world expected more from Obama Obama, Romney and leading from the front in Syria Related Topics World » Russia » Russian President Vladimir Putin (R) meets with his Finnish President Sauli Niinisto in the resort town of Igora in Leningrad region, June 22, 2012. Credit: Reuters/Aleksey Nikolskyi/RIA Novosti/Pool By Douglas Busvine ST PETERSBURG, Russia | Sat Jun 23, 2012 10:44am EDT ST PETERSBURG, Russia (Reuters) - "State capitalism is not our goal," Vladimir Putin said in his first big speech on the economy since his return to the Kremlin, managing to leave investors at Russia's premier business forum little wiser as to how serious he is about selling state assets. Privatisation has come to the fore as Russia's most divisive policy issue since Putin, elected in March to a third term as president after four years as prime minister, named a new government last month. Although dire markets preclude major deals that would reduce the state's 50 percent share in Russia's $1.8 trillion economy at the moment, the privatisation debate has caused a power realignment that could have far-reaching consequences. The kicker to Putin's state capitalism quote was that private-sector monopolies should not replace state ones - a dig at the rushed sell-offs of the 1990s that handed the Soviet Union's industrial legacy to a new breed of industrial oligarch. "Without healthy competition, a market economy shows a tendency to decay that is no less pronounced than the command-administrative system," Putin said on Thursday. Despite that skepticism, Prime Minister Dmitry Medvedev has committed to a string of sell-offs that, starting small, that would see the state exit entirely as owner of major firms such as oil major Rosneft within four years. Igor Sechin, the energy 'tsar' in Putin's last government and recently named chief executive of Rosneft, has other ideas. Sechin has lobbied to create an energy commission subordinate to Putin that, sources said, may evolve into a separate centre of power that would further his goal of building a state energy champion. Oil bosses outnumbered bank CEOs at the St Petersburg forum, and it was they who were granted an audience with Putin, who himself has blessed recent oil exploration deals between Rosneft and Eni, Exxon Mobil and Statoil. But the 59-year-old Putin also made clear that the 25 percent foreign share of output in the world's largest oil-producing nation was quite sufficient. "We think we have great openness in our economy," Putin told them. SMALL IS BEAUTIFUL Medvedev's privatisation ambitions collide with the realities of Europe's sovereign debt crisis, which has delivered a double whammy of rapid capital outflows and sliding oil prices that has pummeled Russian asset prices. That is keeping on hold the state's proposed sale of a 7.6 percent stake in Sberbank, even though the Russian market leader has ridden out the global credit crunch to become Europe's second-largest bank by equity market value. With Russian public finances still in rude health - sovereign debt is 10 percent of gross domestic product - the government can afford to be a price-sensitive seller, investment bankers say. "The purpose of the privatisation program is a strategic process of continued liberalization of the financial system," said Nicholas Jordan, UBS's CEO for Russia and the Commonwealth of Independent States. "It is not because the country needs the money. So, why sell certain precious jewels at what you think is not the right price?" Medvedev's government has agreed to sell a stake of nearly 50 percent in the United Grain Company, a grain trader, to Russian investment group Summa, and further deals could follow in sectors that are not strategically sensitive. "There is a new government in place. They are young, active and want to do something. The problem is not the government but the market and the order in which assets get privatized," said Sergei Arsenyev, managing director for investment banking at Goldman Sachs in Russia. "The process will start. The non-energy assets - I do not think there is any issue about. There are a lot of young guys (in government ...) who will prove themselves." STRATEGIC ASSETS Sechin, under Putin's patronage, is seeking to consolidate oil industry assets under Rosneftegaz, the state energy holding company he was expected to join as a director. The first big oil deal of Putin's third presidential term could, sources say, be the entry by the state into No.3 oil firm, TNK-BP, following British oil major BP's decision to sell its 50 percent stake. "It seems very likely the state is going to consolidate assets in certain industries," said Stephen Jennings, chief executive of Moscow-based emerging markets bank Renaissance. "In other industries, I think we will see more privatisation. Over time some of these really big state entities (will see) partial privatizations." One powerful state manager and opponent of privatisation, Russian Railways head Vladimir Yakunin, took Putin's speech as a cue to launch a media offensive to speak against privatisation. Yakunin told local media that proceeds from the proposed sale of a 25 percent stake in Russian Railways, the country's fourth-largest company and employer of 1 million workers, would not cover huge investment commitments that needed to be met. Former finance minister Alexei Kudrin, a strong proponent of privatisation before he was ousted by Medvedev from government last autumn, said the debate on privatisation missed the point. "The main problem is not the state's formal ownership of business, but its informal involvement in business," said Kudrin, who remains politically active and, some analysts say, could return to government should Medvedev stumble. "This is not the best moment for privatisation. It would be better to take other more serious measures to reduce the state's influence over the economy." (Additional reporting by Megan Davies, Melissa Akin and Maya Dyakina; Editing by Dan Lalor) World Russia Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Saturday, 23 June 2012
Deadly Israeli raids, Gaza rockets shake truce |
Paraguay's leftist president faces impeachment |
Nigeria's president sacks defense chiefs |
U.S. raps Argentina, Indonesia import curbs at WTO |
Azerbaijan arrests reporter on drugs charges |
Top Russian activist quits Putin's rights council |
Facebook expands ad business to Zynga's website |
Schilling says game firm collapse cost him $50 million |
Jess Walter: Beautiful Ruins explores love, loss |
Syria downs Turkish jet, Ankara to act decisively |
Protest in Tahrir Square as Egypt waits for president |
Bomb explodes in Nigeria capital, no casualties-agency |
Israel bombs Hamas security targets in Gaza: officials |
Mexico admits mistake in high-profile drug case |
Paraguay's leftist president ousted by Congress |
Seven Czechs killed in bus crash in Croatia |
Colombia justice minister resigns over controversial reform |
Judge blocks Apple in Google smartphone war |
U.S. judge sets 2013 trial date for Apple e-book lawsuit |
Google CEO says nothing seriously wrong: source |
The Iran Job spotlights U.S. basketball player in Iran |
Greek PM has successful eye surgery, finance minister stays in hospital |
Analysis: Putin disavows, but won't ditch, state capitalism |
German upper house wants billions before backing ESM: Seehofer |
Former FIFA VP Warner is new Trinidad security minister |
Sudan police ordered to end protests immediately: SMC |
Eight Czechs killed in bus crash in Croatia |
HP may cut up to 1,000 jobs in Germany: magazine |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01