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Past Issue
March 2007

The USRCCNE Monthly Newsletter
For those with interests bridging the US and Russia...


USRCCNE Treasurer Renee StillingsWelcome!
From Renee Stillings, USRCCNE Treasurer

Many of you over the years got used to seeing my name on many of the chamber mailings. We have been lucky enough to bring Josh Wilson on board as our newsletter and site editor and so you will see his name a bit more frequently than mine. We hope that you have been enjoying the excellent work Josh has been doing so far and will help him by contributing relevant information to his efforts.

What you will continue to see coming from me are ... yes, requests for membership renewal. The support of our members is what allows us to build this website, organize events, and otherwise work to promote the interests of our members. If you like what we are doing, have an interest in Russia, and/or would like to get more involved, please do contact us about membership.

News Briefs

Invitation to Join the Coalition for US-Russia Trade, a broad-based group of U.S. companies and trade associations committed to strengthening U.S.-Russian commercial ties, and preserving the competitiveness of U.S. firms, farmers, and workers in the Russian market. The reception marking the second bicentennial of US-Russia Relations

USRCCNE Attends Reception in Honor of Second Bicentennial of US-Russia Relations. Our Chamber was represented at the reception by our President Daniel Satinsky, who presented a letter from Chamber Board member, State Senator Stan Rosenberg.

Auriga Makes Global Services 100 List. Global Services, the authoritative media company of CMP-CyberMedia LLC, announced its Global Services 100 list of the year 2007. The list consists of the world's most innovative service providers, selected on the basis of research conducted by Global Services and the outsourcing advisory company neoIT.

Leboeuf Lamb Announces New Head of Russia and CIS Dispute Resolution Practice. Norair Babadjanian joins the firm as head of the Russia and CIS dispute resolution practice.  He will be based in its Moscow and London offices.

Exigen Services and StarSoft Merge to combine EU operating base with deep reach into Russian talent pool for transformational outsourcing initiatives.

Upcoming Events

Palo Alto, CA. March 7-9 - Founded in 2004 to cultivate a transatlantic network of businesspeople and policymakers interested in Russian technology, the U.S.-Russia Technology Symposium at Stanford has established itself as the West Coast’s premier investor conference on emerging technologies.

New York City, April 18-19 - The Financial Services Volunteer Corps, the Association of Russia's Regional Banks and the bank rating agency RusRating are delighted to invite you to the fourth annual Conference on Banking and Investment Opportunities in Russia and the CIS. The conference will include an expansive overview of new opportunities available, and which are now a hotbed for investors with an interest in diversifying holdings.

Russia, April 27 - May 6 - The American-Russian Forestry Association (ARFA), a program of New Horizons Project and the New England Governors’ Conference invites you to spend ten days touring Russia's forestry and cultural centers!

Boston, May 3 (USRCCNE Event) - The Fifth Annual Financial Markets Conference is in the works! Save the date and keep reading this newsletter for more information!

Washington, DC, May 14-15 - The 2007 World Russia Forum promises to advance new proposals for expanding investments in health care, technology, natural resources, banking, housing, and more.

Boston, May 17th - The Partners in Globalization Conference will focus on three emerging areas of the world – China, India, and Russia.

St. Petersburg, Russia, June 20-22 - Annual Software Outsourcing Forum aims to provide buyers of technology services from around the world with a better understanding of their sourcing options in Russia and Eastern Europe and ensure a higher return on their outsourcing investment.

Featured Articles: Innovation and Finance

The Wisdom of Crowds: How Open is Your Innovation? 
The problem from the government's standpoint is the intention not to fund pipeline development from the central budget. While denying private ownership of major pipelines within the country, the Kremlin still needs to expand gas and oil export volumes. And that will cost money.  Sberbank is Russia's largest bank

Russian Depository Reciepts: An Idea Whose Time Has (Almost) Come
The much discussed and long awaited legal framework for a Russian Depositary Receipt (RDR) product was finally enacted in December 2006 and came into force in January 2007. Depositary receipt products are not new to the Russian market... the novelty of the RDR product is that it facilitates the movement of capital in the opposite direction.

Tax Relief Considered for IT Companies in Russia
On 25 January 2007 the government of the Russian Federation began consideration of amendments which provide for a range of tax relief measures for companies working in the IT sphere.

Russian Finance News in Brief
This month has seen several interesting developments in Russian finance news. In preparation for our Financial Markets Conference in May, we've prepared the following brief overview for our readers.

Travel: Registration Rules Changed 
As is often the case in the Russian Federation, the new law has been enacted without clarifying how it should be implemented. The result has been confusion and hardship for those involved.

More Articles of Interest

Press Conference for Russian and Foreign Press
The press conference was attended by more than 1000 media professionals who asked questions on everything from foreign investment to domestic politics.

Munich Conference Speech
This speech has caused quite a stir in international politics. Many dubbed this an "outburst" against the United States. Others have called it a reasoned list of grievences. However it is seen, it is an important event in US-Russia relations.

Russian Corner: Common Errors in Documents of Incorporation in Russia
Templates almost never fully match the needs of a particular business in Russia. Resulting problems can be varied — ranging from conflicts between participants or stalemates in the company’s decision-making processes to an increased level of risk of takeover by competitors.

Just for Fun: Vegetarianism in Russia
Lots of information on the language, national dishes, eateries, and shops that vegetarians will need to know to survive in Russia and specifically in Moscow.

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