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Past Issue
October 2008

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


USRCCNE Treasurer Renee StillingsWelcome!
From Renee Stillings, Treasurer, USRCCNE

These days it seems that "change" is the overriding theme on all fronts. In August, ever the month-of-choice for major events in Russia, we had the Georgia-South Ossetia conflict, bringing with it a change of tone in US-Russian relations. In September we have major changes in economies worldwide, as the US financial markets crisis spills over. Russian markets reacted strongly. The Russian government has intervened first to stop trading and then to support the market. However, many of Moscow’s highly paid expat investment brokers are now packing their bags. While many business owners in Moscow have wished for a bit of a market cooling, particularly in real estate and labor costs, it remains to be seen what serious long-lasting effects the current financial turbulence will have on the Russian economy. I expect that over the next few issues of this newsletter we will focus on the realities of how this crisis plays out in the Russian markets.

Closer to home, we have had change in the Chamber leadership. Dan Satinsky, who has been a driving force behind Chamber initiatives during his tenure as President, is stepping down. He will continue to be very involved on the board and as President Emeritus. I am sure I speak for all of the USRCCNE board members in thanking Dan for his years of service, which have raised our stature as an organization tremendously. I have other things to personally thank Dan for, as chamber events during his tenure introduced me to my husband.

Catherine Mannick, who has served for many years as our Vice President, will be stepping into the role of President and we look forward to her drive and initiative on what looks to be an exciting year for the Chamber.

As always, this newsletter is dependent on you. If you have an announcement or a news item to be included in our newsletter, or if you would like to subscribe to this free publication, please contact us.


Daniel Satinsky, USRCCNE PresidentUSRCCNE News and Events

USRCCNE Announces Leadership Changes
Daniel Satinsky has a few words to say as he steps down from his 10-year tenure as USRCCNE president.

GGA Partners with the Adamov Memorial Fund
Since early 2005, the MN Adamov Memorial Fund has been dedicated to helping talented blind people in Russia. You can help too! 

Alinga Announces New Publication  (PDF - large file)
Alinga's latest quarterly analytical edition of its increasingly popular Market Update is now available as a print publication. Download a PDF version above. If you are interested in receiving a hard copy, let us know at jwilson@usrccne.org. The first 10 North-America based respondents and first 50 Russia-based respondents will receive a free copy.


Join Us in St. Petersburg!
The US-Russia Entrepreneurship Symposium will be held on the last day of the Russian Venture Forum - October 10th, in St. Petersburg Russia. It is sponsored by USRCCNE, Russian Private Equity and Venture Capital Association, Babson College and the US Civilian Research & Development Foundation.

Exigen Services Launches Agile Practice for Global Enterprises
The Exigen Agile Practice will aid enterprise customers who need more than staff augmentation by offering a group dedicated to application development maintenance (ADM) and application outsourcing (AO) leveraging Agile techniques.

Daniel Satinsky Attends "MegaProjects" Conference in Yakutia
Given the distances involved and difficult weather and terrain, infrastructure projects in the region are all huge in scope and very expensive.


Other News and Events

Washington, DC, Oct 6-7 - "US and Russia in Transition: Capturing Momentum for Mutual Growth" will take a broad look at changing politics and economics in Russia and the US and how they might effectively coverage.

St. Petersburg, Russia, Oct 8-10 - The Russian Venture Forum is a meeting point for investment professionals. As Russia's premier annual event for the participants of venture capital and private equity market, it brings together leading local and international investors and innovative high-tech business leaders.

Moscow, Russia, Dec 8-12 - Zdravookhraneniye' (Healthcare) 2008, the 18th International Exhibition for Health Care, Medical Engineering and Pharmaceuticals, will present the opportunities that Russia's growing medical services market provides.


Russian Business

russian businessWorld Bank: Doing Business in Eurasia (PDF)
The World Bank's "Doing Business" project produces yearly reports on taxation, corruption, legislative reform, and other data of interest to international business.

BOFIT Forecast for Russia 2008-2010  (PDF)
Finland's Central Bank produces twice-yearly forecasts for Russian economic growth. Their latest edition was published on September 11th and predicted overall growth would be maintained at 8% for 2008 on the back of high commodity prices. 

Dealing With Financial Crisis: The United States vs. Russia
Stock markets the world over have experienced a crush of losses and all-around volatility in recent days. Here we look at two of the most dramatic markets — those in the United States and Russia — where views of business and government could not be more different.

Analyst Eric Kraus on the Russian Markets  (PDF)
The Russian markets have also been roiling with the global turmoil. Even TNB, an irreverent and usually optimistic overview of the Russian markets, has begun to look more down-trodden of late.

Russian Steel Buys American
Russian steelmakers have, since 2006, made a major push to increase production capacity inside the US. This update to SRAS's Library project gives a brief overview of the major investments made to date. 

IT in Russia 
AmCham's latest AmCham News is devoted to issues surrounding IT companies operating in Russia.

Obzor: Review of Russian Economic News
A wide-ranging news review of Russia's economy, with particular focus on financial markets, investment, technology, and agriculture.


South Ossetia and Other Issues

Sakhashvilli claims the South Ossetia is still part of Georgia. Russian and South Ossetian authorities disagree.

South Ossetia Obzor
This special edition obzor examines the issues surrounding the conflict in the Caucasus, its origin, and its significance.

Russia and the Conflict in Georgia (PDF)
This issue of the Russian Analytical Digest presents articles about the August fighting in the Caucasus.

Russia's War in Georgia (PDF)
A policy paper published by the Central Asia-Caucasus Institute & Silk Road Studies Program Joint Center.

Transcript of the Valdai Club Meeting
The Valdai Discussion Club gives foreign media and experts the chance to ask questions of the Russian president in a marathon discussion session.

Russian Corner:Foreigners Working in Russia
Most of the major international companies polled in Moscow had "expats" in management positions. However, overall, the agency says, expats are a small and shrinking segment on Russian payrolls.

Just for Fun: Vladivostok
Vladivostok was the culmination of a long Russian drive to establish a naval presence on the Pacific. Its port is still used by Russian Navy, by merchants from all over the globe, and by the US Navy. Produced as part of the latest SRAS Newsletter.

As always, this newsletter is dependent on you. If you have an announcement or a news item to be included in our newsletter, or if you would like to subscribe to this free publication, please contact us.

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