Russian President Dmitry Medvedev ’s ouster of Moscow Mayor Yury Luzhkov is reinforcing investor confidence in the government’s ability to take charge of the economy as benchmark foreign bond yields tumble to lows.
Dmitry Medvedev fired Moscow Mayor Yury Luzhkov after 18 years in office, opening the way for the Russian president to put his own person in charge of the capital as the country prepares for national elections next year.
Yelena Baturina, Russia’s richest woman and the wife of ousted Moscow Mayor Yury Luzhkov, sold a cement plants in southern Russia for about $557 million, Vedomosti reported, citing unidentified people close to deal.
President Dmitry Medvedev ’s firing of Moscow Mayor Yury Luzhkov was supported by 66 percent of Russians, demonstrating the success of a media campaign waged against the man who ran the city for 18 years, a poll showed.
Prime Minister Vladimir Putin ’s United Russia party stood by silently as Moscow Mayor Yury Luzhkov , its co-founder, was savaged by the media and came under increasing pressure to resign, underscoring divisions in the country’s dominant party before national elections next year.