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Novosti online [21]gazeta [22]Ezhednevnaya gazeta «Kommersant"» [23]tematicheskie Tematicheskie prilozheniya k gazete «Kommersant"» [24]zhurnal Analiticheskij ezhenedel'nik «Kommersant" VLAST'» [25]zhurnal `Ekonomicheskij ezhenedel'nik «Kommersant" DEN'GI» [26]zhurnal Ezhenedel'nyj zhurnal o stile zhizni «Weekend» [27]zhurnal Ezhenedel'nyj delovoj zhurnal «Sekret firmy» [28]zhurnal Ezhemesyachnyj avtomobil'nyj zhurnal «Avtopilot» [29]Izdatel'skij dom ''Kommersant"'' ezhednevnaya gazeta [30][a.gif] [31][a.gif] 22 dekabrya, subbota | [32]in english | [33]" na Ukraine | [34]Smart edition IFRAME: [35]http://ads.adfox.ru/getCode?p1=ebf&p2=qx&puid1=62&p3=1&p4=a&pq=b&p n=b&py=a [36]Rychagi vlivaniya [37]MROT do ushej [38]"Pasport zabiraete, zayavlenie ostavlyaete" KARTINA DNYA: [39]GLAVNOE | [40]POLITIKA | [41]BIZNES | [42]V MIRE | [43]PROISSHESTVIYA | [44]OBSCHESTVO | [45]KUL'TURA | [46]SPORT [47][perejti k obsuzhdeniyu ... 0] "Birzhevaya cena nefti mozhet byt' kakoj ugodno, no `eto nastoyaschaya cena" // Prezident NYMEX Dzhejms N'yusom podtverdil uchastie v buduschih torgah v Sankt-Peterburge [48]Gazeta «Kommersant"» No. 134(3710) ot 31.07.2007 [49][A2007070944F_t207.jpg] Peregovory s buduschimi akcionerami-uchreditelyami zanimayut opredelennoe vremya, no, po nashim raschetam, nichto ne meshaet otkryt' torgi v Peterburge v konce 2007 goda Pravitel'stvo Rossii uzhe neskol'ko mesyacev obsuzhdaet vopros o sozdanii v Sankt-Peterburge mezhdunarodnoj toplivno-`energeticheskoj birzhi i izmenenii sistemy cenoobrazovaniya na `eksportiruemuyu rossijskuyu neft' -- zamenu kotirovok Urals na f'yuchersnye kontrakty Rebco. DZHEJMS N'YUSOM, prezident i CEO krupnejshej v mire po oborotam kontraktov na `energonositeli n'yu-jorkskoj birzhi NYMEX, v interv'yu zaveduyuschemu otdelom `ekonomicheskoj politiki DMITRIYU "-BUTRINU rasskazyvaet o tom, pochemu NYMEX namerena stat' souchreditelem novoj birzhi i kak obstoyat dela v proekte s tochki zreniya ee amerikanskogo partnera. -- U NYMEX poka est' tol'ko odin proekt v Rossii -- `eto sozdanie birzhi v Sankt-Peterburge. Kak daleko kompaniya prodvinulas' v `etih peregovorah, budet li NYMEX uchastvovat' v sozdanii birzhi? -- Sejchas `eto uzhe ne pervye shagi. My veli peregovory v techenie goda otnositel'no kontraktov na NYMEX na rossijskie `energonositeli, itogom kotoryh poka stal zapusk kontrakta na neft' Rebco na birzhevyh ploschadkah v SSHA. Sejchas my schitaem, chto v voprose birzhi v Sankt-Peterburge u nas est' suschestvennyj progress -- po krajnej mere `eto uzhe ne predvaritel'nye diskussii. V nachale iyunya v samom Sankt-Peterburge na `ekonomicheskom forume u menya byli neskol'ko vstrech s rukovodstvom pravitel'stvennyh vedomstv, posvyaschennyh dokumentu, kotoryj my podpisali v itoge,-- soglashenie o sotrudnichestve s M`ERTom, pravitel'stvom Sankt-Peterburga o razvitii birzhi commodities v Sankt-Peterburge. `Eto dostatochno vazhno -- rech' shla o soglashenii o partnerstve gosstruktur i NYMEX v `etom proekte, o garantiyah gosuchastiya sozdaniya birzhi. Nashi predstaviteli rabotayut v rabochej gruppe proekta. To est' my uzhe v proekte. -- V 2006 godu NYMEX realizovala proekt sozdaniya novoj birzhevoj ploschadki po torgovle neft'yu v OA`E. Imeet li smysl sravnivat' dubajskij i sankt-peterburgskij proekt neftyanyh birzh, naskol'ko oni shozhi? -- Proekty v dostatochnoj mere sravnimy. V oboih sluchayah rech' idet o proektah, edinyh po smyslu, sravnimogo masshtaba. I v Dubae, i v Sankt-Peterburge rech' idet o sozdanii transparentnoj i prozrachnoj sistemy cenoobrazovaniya na regional'nuyu neft', ot postavok kotoroj zavisyat znachimye sostavlyayuschie mirovoj `ekonomiki. Esche odna sostavlyayuschaya, kotoraya ob"edinyaet dlya nas proekt NYMEX i dubajskij,-- i v tom i drugom sluchae sotrudnichestvo s vlast'yu yavlyaetsya neobhodimym `elementom. Prosche govorya, bez pravitel'stv i v tom i v drugom sluchae nichego ne vyshlo by. I ponyatno, pochemu. I v sluchae s OA`E, i v sluchae s Rossiej -- neftyanye kompanii vsegda skeptichny, i situaciya v SSHA rovno takova zhe. To, chto povyshenie transparentnosti rynka vygodno v itoge vsem -- i postavschikam nefti, i trejderam, i potrebitelyam, i gosudarstvu, v konce koncov vsemi priznaetsya. No iniciativy pravitel'stva v `etoj oblasti pozvolyayut zapustit' process, k kotoromu posle podklyuchayutsya vse igroki, bez nih starta mozhno zhdat' skol' ugodno dolgo. Ponyatno, chto iniciativa zapuska neftyanoj birzhi mozhet byt' chastnoj. Mne s moim b`ekgraundom raboty v SSHA so strukturami, reguliruyuschimi rynki, bylo ochevidno, chto i v Dubae, i v Rossii nuzhno vseh uchastnikov rynka prosto usazhivat' za kruglyj stol. Po moemu opytu, tak zhe vsegda proishodit i na drugih rynkah -- ya uchastvoval v svoe vremya v razrabotke pravil gosregulirovaniya finansovyh rynkov v SSHA v 80-h i 90-h, ya rabotal s glavoj FRS SSHA Alanom Grinspenom, s kaznachejstvom SSHA. -- Sozdanie birzhi v Sankt-Peterburge dolzhno izmenit' sistemu cenoobrazovaniya na neft' Urals i, veroyatno, uvelichit' ee stoimost'. Pochemu neftyanye kompanii proyavlyayut skepsis po povodu `etogo proekta? -- Davajte ya sam vam zadam vopros. Esli vy trejder neftyanoj kompanii, esli vy v techenie poslednih let reshali vse voprosy po cenoobrazovaniyu telefonnymi zvonkami iz odnogo tihogo kabineta v drugoj, kakuyu reakciyu vyzovet u vas dazhe sama postanovka voprosa o transparentnosti neftyanogo rynka? CHego radi vam voobsche chto-to delat'? Vas vse ustraivaet. Sejchas v processe cenoobrazovaniya vse voprosy reshayutsya uzkim krugom. Perehod k processu otkrytogo cenoobrazovaniya -- `eto vovlechenie v process ogromnogo chisla novyh lyudej, `eto i novye lica v postavkah, u potrebitelej, v infrastrukture. Est' li shans pri peredache processa cenoobrazovaniya na rynok sohranit' vliyanie na process `etogo uzkogo kruga? Pravda, u nyneshnej stabil'nosti est' obratnaya storona medali -- `eta stabil'nost' otrazhaetsya obschej nestabil'nost'yu rynka nefti, i nestabil'nost' rynka nakaplivaetsya. -- Pochemu v NYMEX uvereny v tom, chto zamena raschetnyh cen na Urals na birzhevye ceny f'yuchersnyh kontraktov na neft' Rebco budet vygodna neftyanym kompaniyam? -- Na samom dele ya ne hotel by utverzhdat', chto v sovershenstve znayu, kak sejchas rabotaet rossijskij neftyanoj rynok. No na Blizhnem Vostoke, gde analogichnyj proekt NYMEX realizovan, preimuschestva prozrachnosti mestnogo neftyanogo rynka i sistemy cenoobrazovaniya oceneny vsemi. `Eti preimuschestva v pervuyu ochered' i otrazhayutsya na cene -- volatil'nost' cen nefti Oman/Dubai, kotoraya torguetsya na birzhe v Dubae, snizilas'. Vtoroe preimuschestvo prozrachnosti rynka -- ochevidnaya i ponyatnaya vsem sistema, kotoraya formiruet cenu nefti, pozvolyaet globalizovat' lokal'nye rynki. Na starte u vas mini-rynki s mini-postavschikami, mini-potrebitelyami i pochti bez finansovogo mehanizma. F'yuchersnye kontrakty pozvolyayut i globalizovat' lokal'nye neftyanye rynki, i integrirovat' v nego sistemu zaschity ot riskov izmeneniya cen. Bez birzhi i f'yuchersov poka nikto ne nauchilsya nichego delat' s cenovoj nestabil'nost'yu -- v principe ya govoryu to zhe, chto v iyune govoril na vstreche glave M`ERTa Germanu Grefu. Nu i k tomu zhe, kogda uzhe sozdana sistema birzhevogo cenoobrazovaniya, v dannom sluchae na neft', vopros volatil'nosti cen stanovitsya drugim po soderzhaniyu. Birzhevaya cena mozhet byt' nizkoj, mozhet byt' vysokoj, kakoj ugodno, no u `etogo uzhe ne mozhet byt' "vinovnikov" -- `eto istinnaya cena, nastoyaschaya cena nefti. -- Pravitel'stvo Rossii v nachale goda predpolagalo izmenenie v nalogooblozhenii nefte`eksporta s tem, chtoby raschetnoj bazoj dlya `eksportnyh poshlin byl kontrakt Rebco. NYMEX schitaet neobhodimym takie izmeneniya? -- Voprosy nalogooblozheniya neftyanogo biznesa nahodyatsya za predelami nashih interesov i kompetencii. No iz togo, chto ya znayu, privyazka sistemy nalogooblozheniya neftyanyh kompanij k birzhevym kotirovkam nefti yavlyaetsya, konechno, absolyutno obychnoj vesch'yu. V SSHA vse primerno tak i ustroeno, i `eto politicheski vazhno dlya lyubogo pravitel'stva. Sistema, privyazyvayuschaya nalogi k f'yuchersnym kotirovkam, vosprinimaetsya kak estestvennaya i rynochnaya. -- O vozmozhnom sozdanii neftyanoj birzhi pravitel'stvo Rossii govorit s oseni 2006 goda. Kakovy sejchas raschetnye sroki zapuska proekta, predlagaemye NYMEX? -- Sejchas specificheskie voprosy, svyazannye s rabotoj birzhi v Sankt-Peterburge, naprimer voprosy stykovki s zakonodatel'stvom, prorabatyvayutsya v sozdannoj rabochej gruppe. Klyuchevye voprosy -- `eto raspredelenie kapitala birzhi v Sankt-Peterburge i formirovanie spiska uchreditelej, opredelenie struktury ee sluzhb, fizicheskoe raspolozhenie podrazdelenij birzhi. Birzha sama po sebe budet bazirovat'sya v Sankt-Peterburge, `eto uzhe resheno, no tam esche est' voprosy o tom, kak budut izmenyat'sya po vremeni te ili inye podrazdeleniya. Otdel'no reshaetsya vopros obespecheniya statusa gosudarstva kak klyuchevogo uchreditelya birzhi v Sankt-Peterburge, ego polnomochij. Poka ponyatno, chto uchreditelyami predpolagaetsya sdelat' gosstruktury, NYMEX, neobhodimo uchastie v kapitale krupnyh neftyanyh kompanij. `Eto obychnaya praktika, kompanii uchastvuyut v takogo roda proektah v mire fakticheski v obyazatel'nom poryadke. Dumayu, osnovnym voprosom sejchas yavlyaetsya imenno sozdanie samogo proekta i vopros integracii sistemy f'yuchersnyh torgov s infrastrukturoj fizicheskoj postavki nefti Rebco iz Primorska. Voprosy tehnologicheskie, voprosy vybora kliringovoj sistemy, sozdaniya informacionnoj sistemy takzhe ochen' vazhny, no, v obschem, bez obespecheniya postavok nefti po kontraktam proekt ne budet rabotat'. Na neftyanoj birzhe torguyut v pervuyu ochered' neft'yu, finansovaya infrastruktura lish' obespechivaet `etot process. -- Budet li NYMEX uchastvovat' v sozdanii kliringovoj sistemy birzhi v Sankt-Peterburge? -- YA polagayu, tut est' chto predlozhit' samoj NYMEX. My krupnejshaya v mire birzha commodities, nasha kliringovaya sistema yavlyaetsya `etalonom dlya `energeticheskogo rynka. Po moemu mneniyu, sozdanie dlya birzhi v Sankt-Peterburge sobstvennoj kliringovoj sistemy i sobstvennoj kreditnoj sistemy budet krajne slozhnoj i protyazhennoj vo vremeni zadachej. Po moemu mneniyu, neobhodimo snachala sozdavat' birzhu, kotoruyu my gotovy obespechit' i kliringovymi resursami, i finansovoj infrastrukturoj, i lish' zatem postepenno smotret', kak mozhet byt' sozdana nezavisimaya infrastruktura dlya rynka Rebco v Rossii. `Eto to, chto my predlagaem. -- No tem ne menee est' li neobhodimost' sozdavat' kliringovuyu sistemu dlya birzhi v Sankt-Peterburge? -- Net, ya ne govoryu, chto sobstvennaya sistema kliringa dlya birzhi v Sankt-Peterburge -- `eto nevozmozhno. Ne isklyucheno, chto ona budet dazhe neobhodima. No, obraschayu vashe vnimanie -- v Dubae obsuzhdenie `etogo voprosa prishlo k tomu, chto tam birzha rabotaet s kliringovoj sistemoj NYMEX, hotya obsuzhdali tam ishodno to zhe samoe, chto obsuzhdayut v Rossii. Na dele dlya bankov, kotorye rabotayut s f'yuchersami na neft', geografiya golovnogo ofisa kliringovoj sistemy ne imeet absolyutno nikakogo znacheniya, `eto operacii na global'nom rynke. I, krome togo, nuzhno osoznavat': sozdanie sobstvennoj kliringovoj sistemy v Rossii -- `eto otvlechenie i vlozhenie v nee ochen' krupnoj summy deneg. V sluchae s NYMEX `eto neskol'ko milliardov dollarov, kotorye obespechivayut bankam i ih klientam, rabotayuschim v sisteme f'yuchersnyh torgov, finansovye garantii i celostnost' sistemy raschetov. Dublirovat' sistemu mozhno, no dlya `etogo potrebuyutsya novye investory v proekt, i ves'ma krupnye. Ih poisk, ih integraciya v proekt -- `eto vremya i resursy. -- Kogda, po vashim raschetam, birzha v Sankt-Peterburge mozhet zarabotat'? -- Voobsche, vsya neobhodimaya infrastruktura pod f'yuchersnye torgi Rebco nami uzhe sozdana -- nikakih problem s tem, chtoby ispol'zovat' ee v Sankt-Peterburge s nashej kliringovoj sistemoj, net voobsche. S `etoj tochki zreniya proekt mozhno zapustit' ves'ma bystro. Vremya trebuetsya v osnovnom na reshenie voprosov, svyazannyh s gosregulirovaniem, s sozdaniem v Rossii pravovoj bazy dlya raboty birzhi v Sankt-Peterburge. I skorost'yu `etogo processa i ustanavlivayutsya poka, s moej tochki zreniya, vse daty v proekte. Konechno, peregovory s buduschimi akcionerami--uchreditelyami birzhi zanimayut opredelennoe vremya, no mogu skazat' -- po nashim raschetam, nichto sejchas ne meshaet otkryt' torgi v konce 2007 goda. V principe pravitel'stvo Rossii na `eto primerno i rasschityvaet. -- V sluchae zatyagivaniya peregovorov v Rossii rassmatrivaet li NYMEX drugie proekty po organizacii birzhevoj torgovli neft'yu v drugih stranah? -- Proekt s Rebco -- `eto chast' mirovoj strategii NYMEX. My nachali peregovory s nashim partnerom v Rossii, kompaniej Expertica, i s pravitel'stvom RF po nemu chut' bolee goda nazad. Uzhe k tomu momentu my ponimali -- Rossiya yavlyaetsya odnim iz neskol'kih mest na karte mira, gde sozdanie birzhi po torgovle `energoresursami yavlyaetsya logichnym i estestvennym. My dostatochno tschatel'no proveli ocenku tekuschih riskov proekta, infrastruktury dlya f'yuchersnyh torgov neft'yu zdes' uzhe neskol'ko mesyacev nazad. Vse `eto nikto by ne stal delat', esli by dlya nas `etot proekt ne byl strategicheski vazhnym -- my rassmatrivaem ego kak chast' nashego global'nogo proekta po povysheniyu transparentnosti `energorynkov v mire. -- Osnovnoj oborot NYMEX sejchas obespechivayut f'yuchersy na neft', no v poslednee desyatiletie birzha aktivno zanimaetsya f'yuchersami na `elektro`energiyu, nefteprodukty, drugie birzhevye tovary. Est' li takie plany v otnoshenii Sankt-Peterburga? -- Nu chto takoe birzha? Esli est' tehnologiya, est' finansovaya infrastruktura i est' igroki, est' bazovaya sistema kontraktov po `energonositelyam, translirovat' vse `eto na smezhnye rynki ochen' neslozhno. Malo togo, istoriya razvitiya NYMEX pokazyvaet, chto dazhe ne nuzhno osobenno vyyasnyat', kakoj imenno sektor razvivat',-- predlozheniya voznikayut avtomaticheski, ot trejderov do postavschikov. Birzha -- `eto zhe vo mnogom sistema upravleniya riskami. Kak tol'ko na birzhe poyavlyayutsya den'gi uchastnikov, im ne nado ob"yasnyat', kakimi esche riskami mozhno upravlyat' f'yuchersnymi kontraktami. Rynok sam nachinaet formirovat'sya vokrug, ostaetsya tol'ko pisat' pravila dlya nego i obespechivat' ego rabotu. Poyavlyaetsya i celyj novyj rynok raschetov "vokrug birzhi", "okolo birzhi". Drugoe delo, chto kommentirovat' rabotu `etoj chasti rynka ya ne imeyu vozmozhnosti, `eto uzhe ne nasha sfera otvetstvennosti. -- Obsuzhdali li vy s pravitel'stvom Rossii vozmozhnost' torgovli v Sankt-Peterburge f'yuchersami na gaz? -- Poka takih planov net. -- Na kakuyu dolyu kapitala birzhi v Sankt-Peterburge pretenduet NYMEX? Verna li informaciya o desyatiprocentnom uchastii v kapitale? -- Tochnogo procenta ne nazovu. `Eto i yavlyaetsya predmetom nashih peregovorov v Rossii. Vse zavisit ot togo, kakie sostavlyayuschie buduschej birzhi v ramkah nashego vznosa v kapital budut nami vylozheny na stol i kakie budut v itoge vzyaty s `etogo stola. -- V kakoj stepeni problemu dlya torgovli neft'yu, produktom mezhdunarodnoj torgovli, sostavlyayut rossijskaya yurisdikciya buduschej birzhi i osobennosti zakonodatel'stva Rossii? -- My rabotaem vo vsem mire, vo vseh yurisdikciyah. `Etoj problemy ne suschestvuet ni v Rossii, ni v Dubae, ni v SSHA -- nigde. F'yuchersnaya industriya nastol'ko davno suschestvuet, chto voprosov o tom, kak stroit' ee regulirovanie, ne voznikaet obychno. V osnovnom voprosy o tom, kak ee nuzhno stroit', byli otrabotany pri sozdanii f'yuchersnoj industrii v SSHA. Poka nigde v mire krupnyh protivorechij ee principov s pravovymi sistemami teh stran, gde ona vnov' sozdaetsya, ne bylo. Osnovnoj vopros -- kak v nacional'nyh zakonodatel'stvah otrabotany zakonodatel'nye momenty v regulirovanii kontraktov na fizicheskie postavki nefti. No, naskol'ko mne izvestno, u pravitel'stva i Gosdumy v Rossii net s `etim kakih-to slozhnostej. -- V hode proekta sozdaniya birzhi v Sankt-Peterburge neftyanye kompanii v Rossii neoficial'no zhalovalis' na to, chto na birzhu idti ih vynuzhdaet pravitel'stvo. NYMEX `eto ne bespokoit? -- My ne mozhem razdelit' voprosy `ekonomicheskoj svobody i svobody cenoobrazovaniya. V `etom smysle to, chto my predlagaem, i est' `ekonomicheskaya svoboda -- no svoboda dlya vsego rynka. S proektom v Dubae, kstati, vopros zvuchal esche bolee interesno i akcentirovano. Ved' v OA`E suschestvovala ochen' davnyaya praktika, kogda cena na neft', importiruemuyu iz Persidskogo zaliva, opredelyalas' za predelami Persidskogo zaliva. Vlastyam OA`E bylo vazhno ispravit' `etu situaciyu, v pervuyu ochered' iz politicheskih soobrazhenij. I ya ne vizhu zdes' principial'noj raznicy s Rossiej -- kak i v sluchae s Blizhnim Vostokom, sozdanie transparentnoj sistemy cenoobrazovaniya na neft' vnutri samogo rynka yavlyaetsya zadachej, lezhaschej v sfere kompetencii i otvetstvennosti imenno pravitel'stv, i `eto zhe v interesah pravitel'stv. -- Sejchas f'yuchersy na neft' Rebco torguyutsya v N'yu-Jorke, hotya sdelok ne zaklyuchaetsya. NYMEX ne bespokoit konkurenciya so storony birzhi v Sankt-Peterburge, gde takzhe predpolagaetsya torgovat' Rebco? -- Da `eto kak raz i horosho. `Eto kak raz imeet smysl, poskol'ku torgovlya prosto imeet neskol'ko tochek i priblizhena k potrebitelyu. -- Ranee v proekt birzhi v Sankt-Peterburge predpolagal vojti Kazahstan, velis' konsul'tacii o tom, chtoby sistema cenoobrazovaniya kazahskoj nefti byla takzhe nezavisimoj ot cenoobrazovaniya na Brent. Sejchas `eti konsul'tacii zaglohli. U NYMEX est' predlozheniya po kazahskoj nefti? -- Net nikakoj neobhodimosti stroit' otdel'nuyu birzhu pod kazhdyj suschestvuyuschij v mire sort nefti i kontrakt na ee postavku. Rossijskaya neft' opredelyaet situaciyu v celom regione i na `energorynkah celoj gruppy potrebitelej, naprimer na severe ES, v Sredizemnomor'e. Ta zhe situaciya s Blizhnim Vostokom. YA dumayu, primer Omana, kotoryj ne stal stroit' otdel'nyj proekt, a prisoedinilsya k sisteme birzhevyh torgov neft'yu v Dubae, ochen' pokazatelen. Neft' WTI v SSHA, na kotoroj stroitsya ves' mestnyj rynok i s kotoroj NYMEX rabotaet,-- `eto smes' ochen' bol'shogo chisla sortov nefti iz desyatkov neftyanyh mestorozhdenij. S Brent, torguemoj na krupnejshih birzhah mira, dela obstoyat tak zhe, i vse `eto rabotaet. Ne vizhu prichin, po kotorym `eto ne budet rabotat' v otnoshenii nefti, dobyvaemoj v SNG. Ne vizhu prichin, pochemu takoj torgovle ne vestis' v Sankt-Peterburge. ____________________ [BUTTON] [50][ rasshirennyj poisk ] +info [51]Dzhejms N'yusom [52]Rodilsya v Plant-Siti (shtat Florida) v 1960 godu. [53]N'yu-Jorkskaya tovarno-syr'evaya birzha [54]Sozdana v 1872 godu gruppoj torgovcev molochnoj produkciej kak N'yu-Jorkskaya birzha syra i masla (Butter and Cheese Exchange of New [55]" / BIZNES [56]22.12.2007 subbota [57]Bajkal'skomu CBK pereschitali isk // Ego mogut uvelichit' do 3,2 mlrd rublej [58]22.12.2007 subbota [59]"Noril'skij nikel'" menyaet pokupatelya // Vladimir Potanin okazalsya vypolyanyat' ofertu Mihaila Prohorova [60]21.12.2007 pyatnica [61]V Sankt-Peterburge vypuschen pervyj avtomobil' Toyota Camry [62][ vse materialy razdela ] [63]"-VIDEO [64]Ataka klounov [65]Meksikanskie klouny blagodaryat svyatuyu Guadalupe za radost' zhizni otkryt' video ... [66]ZHivotnye tozhe lyudi [67]Dedushka po vyzovu [68]Oleg SHvarcman ne budet sudit'sya s "Kommersantom" [69]Dmitrij Medvedev podal dokumenty v CIK [70]Iznasilovali i pomilovali [71]CHtoby russkij hleb dushistyj nazyvalsya slovom bread? [72]Pervye v pervichnom razmeschenii [73]Inogda ona vozvraschaetsya [74]CB liberalizoval kreditnye programmy [75]Koroleva krasoty ne umeet govorit' [76][ arhiv video ] [77]Gazeta.Ru [78]sejchas v Gazete.Ru: Deripaska zanikeliroval Potanina // 20:40 Vladimir Potanin ne smog vykupit' blokpaket «Nornikelya» u Mihaila Prohorova. Teper' `eti akcii poluchit «Rusalyuminij»... Preemnik bogache Putina // 20:51 CIK pristupil k proverke deklaracij o dohodah kandidata v prezidenty Dmitriya Medvedeva i ego zheny Svetlany. Uzhe izvestno,... Toyota vykatila vtoruyu model' // 17:37 Pod Peterburgom otkrylsya zavod Toyota. Pervaya partiya rossijskih Camry popadet k dileram v marte. A esche cherez dva-tri goda... [79]NOVOSTI[80]"-FOTO [81]"-VIDEO [82]" V REGIONAH [83]ARHIV [84]Razdel «Kommersant"-Video» [85]BIBLIOTEKA [86]MEROPRIYATIYA " [87]REKLAMA [88]PODPISKA [89]Sergej Strokan' o zakrytii British Council v rossijskih regionah IFRAME: [90]http://www.kommersant.ru/banners/adWatch.html?DocID=791127 TEMY [91]Vybory v Gosudarstvennuyu dumu RF 2007 goda (181) [92]FOTO DNYA [93]21 dekabrya 2007, Rossiya, Moskva, Predsedatel' partii Rossijskaya `ekologicheskaya partiya Zelenye Anatolij Panfilov (sleva) vo vremya XIV - ogo s"ezda Rossijskoj `ekologicheskoj partii Zelenye v Kinokoncertnom zale Prezident-Otelya. [94][ fotogalerei ] [95]Vse materialy razdela Biznes [96]Razdel «Biznes» [97]Ves' nomer [98]Ves' nomer gazety ot 31.07.2007 [99]Versiya dlya pechati [100]Versiya dlya pechati [101]na glavnuyu stranicu ... [102]Na glavnuyu stranicu SAMOE OBSUZHDAEMOE [103]ZHurnalistka The New Times ob"yasnilas' s poslom [104]Vchera poluchil razvitie skandal s zapretom na v"ezd v Rossiyu korrespondenta... [105]ZHurnalistke izbrali meru neperesecheniya [106]Rossijskie pogranichniki vchera ne vpustili v stranu vernuvshegosya iz... [107]Vladimir Putin poshel za Dmitriem Medvedevym [108]Prezident Rossii Vladimir Putin vchera na s"ezde "Edinoj Rossii"... [109]Kto pohvalit ego luchshe vseh [110]Vladimir Putin gotovitsya ujti na zasluzhennyj otdyh na dolzhnost' prem'er-ministra... [111]gazeta «KOMMERSANT"» [112]No. 237 // 22.12.2007 [113]zhurnal «"-VLAST'» [114]No. 49 // 17.12.2007 [115]zhurnal «"-DEN'GI» [116]No. 49 // 17.12.2007 [117]zhurnal «WEEKEND» [118]No. 69 // 21.12.2007 [119]zhurnal «SEKRET FIRMY» [120]No. 49 // 17.12.2007 [121]prilozhenie «BUSINESS GUIDE (LIKEROVODOCHNAYA PROMYSHLENNOST')» [122]No. 232 // 17.12.2007 [123]prilozhenie «ROZHDESTVO» [124]No. 235 // 20.12.2007 [125]zhurnal «AVTOPILOT» [126]No. 9 // 01.09.2007 [127]KONTAKTY | [128]REDAKCIYA | [129]O «KOMMERSANTE» | [130]NAGRADY | [131]PRAVOVAYA INFORMACIYA | [132]PODPISKA | [133]REKLAMA | [134]CLASSIFIED [135]ZHALUJTES' | [136]NA GLAVNUYU [137]Rambler [138]Rejting@Mail.ru © 1991-2007 ZAO «[139]KOMMERSANT". IZDATEL'SKIJ DOM» , ALL RIGHTS RESERVED. 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