Today in Russian Business – April 14, 2009

A ‘stable and predictable’ ruble will see Russia through the financial crisis, according to the head of the Russian Union of Industrialists and Entrepreneurs, reports Bloomberg.  Moscow City Hall will help developers to complete delayed construction projects by allowing city-owned firms to co-invest.  Norilsk Nickel’s plan to sell its treasury shares, reported yesterday, has apparently been suspended.  In the Moscow region property prices in rubles have remained fairly constant since October 2008; dollar prices have fallen.  State bank VEB will postpone its planned eurobond issue for one month, but will also double the amount it planned to raise to at least $2 billion.  Landline operator Southern Telecom is seeking a $90 million loan.  Despite rising sales, X5 Retail Group recorded a loss in the fourth quarter due to a goodwill impairment charge.  Kamaz stocks rose on the reports that the company is seeking $382 million in state financing for new development.  Orders for the coming years placed with Rosoboronexport reach a total of over $25 billion.  The government will need 40 billion rubles to support strategic enterprises in the civilian sector.