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Olympic construction schedule will be met at the expense of state funds.
At a meeting at the Olympstroi (Russian state-owned corporation that manages the work related to the design, construction, reconstruction and maintenance of Olympic facilities in Sochi) headquarters on Friday, RF President Vladimir Putin promised the contractors a great deal of trouble if they fail to meet the schedule of the Olympic facilities’ construction. They will also have to account for the constant raising the construction cost estimates. At the same time, in order not to jeopardize the Olympic facilities’ commissioning schedule, the state is ready to assume up to 90 percent of their financing costs. Kremlin officials and independent experts have no doubt that the 2014 Olympic Games are for Vladimir Putin one of the main projects of his new presidential term.
Invasion of Public Notaries
Businessmen have expressed concern over massive amendments to the RF Labour Code, adopted by the State Duma lower house of parliament in the first reading. They believe that many new clauses of the law are fraught with the property redistribution. In particular, businesses are discontent with the necessity to notarially certify all the key decisions of the boards of directors. The developers of the amendments have tried to appease the businessmen explaining that the currently introduced models of civil-law relations have existed for centuries in most countries and have proven their effectiveness.