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MOSCOW, October 18 (RIA Novosti) - Russia"s...

MOSCOW, October 18 (RIA Novosti) - Russia"s United Aircraft Corporation (UAC) said on Thursday it intended to hold an initial public offering on Russian bourses in late 2009 and early 2010 to the sum of $1-1.5 billion. The UAC was established earlier this year to help overcome the crisis in Russia"s aircraft industry, and incorporates many of the country"s best-known aircraft builders, including Mikoyan, Ilyushin, Irkut, Sukhoi, Tupolev, Yakovlev and other enterprises in the industry. A UAC official also said the corporation would float newly issued shares representing 10-15% of its charter capital by closed subscription in 2008, adding that Russia"s government-controlled foreign economic bank Vnesheconombank could participate in the offer. The UAC, which is 90% state owned, incorporates aircraft building companies and state assets engaged in the manufacture, design and sale of military, non-military, transport and unmanned aircraft in a bid to streamline the Russian aviation industry. The UAC official also said the company would borrow about 120 billion rubles (about $4.8 billion) by 2012.


Sir Hiram Stevens Maxim was born in America...

Sir Hiram Stevens Maxim was born in America on February 5, 1840, emigrated to Britain 1881 and adopted British citizenship in 1899. Over his long career, Maxim is credited with over a thousand different inventions and received patents for 270 of them. He also designed a steam-fuelled aircraft, was named a Chevalier of the Legion of Honor, and claimed to have invented the light bulb.


At least five people were injured in a hotel...

At least five people were injured in a hotel fire in a cosmonauts" town northeast of Moscow early on Saturday, a local police source said.

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MOSCOW, July 21 (RIA Novosti) - About 320,000...

"According to our estimates, about 320,000 people will be conscripted into the Russian Armed Forces this fall," Col. Gen. Vasily Smirnov said.

Only 133,000 conscripts joined the armed forces during the spring draft, and about 219,000 people were drafted in last year"s fall.

The general said the higher number of conscripts was due to the reduction of officer ranks, the scrapping the rank of warrant officers and cuts to contract personnel.

As of January 1, 2009, the Russian Armed Forces numbered 355,000 officers and 140,000 warrant officers.

"By the end of 2009, we will have 150,000 officers, all warrant officers will have been discharged or absorbed into other ranks, and we will have less contracted personnel," Smirnov said.

"Therefore, we will have to draft over 300,000 people," he said.

The current military reforms in Russia will see personnel cut to 1 million by 2012 from 1.34 million.




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