Aug 12. Events in South Ossetia cannot alter the fundamental indicators of the Russian economy, >>> Aug 12. More funds are to be allocated from the budget to culture, health care, education and national defense next year, >>> Aug 12. Georgian Oil and Gas Corporation has denied information that Russian gas transit via the Georgian territory to Armenia was cut 30% due to maintenance works on the trunk pipeline. >>> Aug 12. Severstal has acquired 100% of gold producer Balazhal in Kazakhstan, >>> Aug 12. Sergey Batekhin who had acted as Norilsk Nickel CEO for less than a month, has been demoted. >>> Aug 12. Lukoil-Severo-Zapadnefteprodukt has applied to the Federal Antimonopoly Service to take over Lukoil- Severnefteprodukt, >>> Aug.12. In global petroleum market news, oil prices closed at a new 3-month low Monday after briefly dropping below USD 113 a barrel mark, as the dollar extended its rebound and more signs emerged >>> | 
