Today in Russian Business – October 13, 2009

Russian and Chinese companies have signed infrastructure and construction agreements today worth $3.5 billion.  Avtovaz has posted record losses of $659 million for the January-June period, a sour accompaniment to the government’s decision to extend the unpopular increased import duties on cars by nine months.  September’s sales of 28,109 cars were the lowest seen in the history of the factory, which opened in 1974.  Putin has vouched that the $6.8 billion allocated spending on the APEC summit, to be used improving infrastructure in host city Vladivostok, will not be reduced.  The summit to be held in 2012 will apparently help the area attract $100 billion in investment by 2015.  The head of the State Statistics Service, Vladimir Sokolin, has said in an interview that the Economic Development Ministry plays free and easy with statistics.  Russia’s budget deficit this year may be smaller than expected with boosted oil and gas revenue.  Yuri Milner of Digital Sky Technology explains in the FT what snow has to do with the Internet.  William Browder’s film on the Hermitage story has received 12,000 hits on youtube, and is the most viewed video in Russia.