Peter Svidler Wins Chess World Cup in Khanty-Mansyisk, Russia

Khanty-Mansiysk, Russia — September 20, 2011— Russian grandmaster Peter Svidler, 35, captured the World Cup title on Monday after winning a four-game final against his compatriot Alexander Grischuk. Svidler won the first game and forced a draw in the remaining three.

On the way to the final, Svidler, who is a six-time Russian champion and one of the highest-ranked players in the world, defeated strong competitors — American Gata Kamsky and Urkainian Ruslan Ponomariov. Svidler, who described his World Cup title as “the highest achievement in chess so far” during the press conference in Khanty-Mansyisk, will collect $96,000 prize and a ticket to the 2012 world championship matches.

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Russia! Magazine Presents the 10 Biggest Scandals on the Russian Art Market

NEW YORK – Over the last 10 years, the market for Russian art has grown by a factor of 30 and now accounts for $400 million in sales a year, and the role of Russians on the international art market is ever more noticeable. In turn, art scandals involving Russians are also increasing in number. Russia! magazine has published a Top 10 rating of the biggest scandals on the Russian art market at the beginning of 21st century*.

The scandals include fraud and theft, the ownership of wartime spoils, conflicts between the church and society, battles among oligarchs, multi-million dollar corruption and, as always when it comes to Russia, a giant penis painted on a bridge opposite an FSB building.

According to experts, the biggest scandal to date is the "Rubens affair," when a Rubens painting stolen during the war, "Tarquin and Lucretia," was obtained by a little-known businessman, Vladimir Logvinenko. A criminal case was brought against Logvinenko in Germany, and the return of the masterpiece became the subject of political negotiations. Logvinenko later cooked up a complicated financial scheme, apparently in a bid to sell the painting for 60 million euros, and convinced a key Russian businessman to transfer money to a special fund. The money mysteriously vanished. The case against Logvinenko is currently being heard in court, while the Rubens painting is displayed at the Hermitage, where it is immensely popular thanks to the scandal that engulfed it.

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NYSE Euronext Expects a Rise in Russian IPOs in the Coming Months

During a recent visit to Moscow, the leadership of NYSE Euronext, one of the world’s leading stock exchanges, voiced their interest in partnering with Russia in the country’s effort to create the Moscow Financial Center. 

Ronald Kent (NYSE Euronext) is confident that the number of Russian companies seeking access to global capital will rise in the coming year. 

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Kirsan Ilyumzhinov Re-Elected as FIDE President

Kirsan Ilyumzhinov, an incumbent president of World Chess Federation (FIDE) has been re-elected as president of The Fédération Internationale des Échecsm, the World Chess Federation.

Mr. Ilyumzhinov was running for re-election against Anatoly Karpov, the former World Champion and one of the great chess players of all time. After conceding the election, Mr. Karpov has accepted FIDE President's offer to serve as the FIDE ambassador. 

Russian Povera, a Limited Edition Book, Is an Introduction to a Fascinating Corner of the Art World that is Sure to Attract Anyone with an Interest in Art, Culture, or Design

In 2008 the influential gallery owner Marat Guelman introduced the world to the concept of Russian Povera. Also known as “Russian Poor Art,” Povera became the marquee term for post-Soviet artists who shared a tendency to pick up trash and turn it into art. Arte Povera is not a movement; it has no manifesto, and many of its members are self-described outsiders. But the retroactive label has stuck.

The concept and the exhibition became the most influential happening in the contemporary Russian art. Along with huge media coverage, it generated a series of related exhibitions, formation of groups of followers all over Russia and the former Soviet Union counties. 

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