Today in Russian Business – Feb 14, 2012

Reuters reviews Vladimir Putin’s latest electioneering promises, which include wage increases for public sector employees including teachers, doctors and researchers.  All good ideas, says Alexei Kudrin, but how will they be funded?  Oleg Deripaska’s legal battle with Michael Cherney is playing out in London’s high court: the former has accused his rival of operating a protection racket.  Alexander Lebedev has nominated Alexei Navalny to become a member of the board of Aeroflot, a move to ‘improve corporate governance of the company’.  Price competition could reduce truck maker KamAZ’s market share after Russia joins the World Trade Organisation.  The pharmaceuticals market needs to develop new regulations in preparation for WTO accession, partly because it ‘has problems meeting international quality standards for medicine’.  Yelena Baturina, the wife of former Moscow Mayor Yury Luzhkov, will be granted temporary immunity following questioning by investigators.  Canada’s Barrick Gold wants to sell its 20% holding in Roman Abramovich’s Highland Gold Mining. PepsiCo is rebranding its Quaker oats for sale in Russia under the pre-existing Russian brand, Chudo.

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