Today in Russian Business – April 12, 2012

In his valedictory address as Prime Minister, Vladimir Putin has lamented that income disparity remains one of Russia’s principal problems.  Putin recommended that the law requiring Russian government officials to disclose their incomes should be extended to incorporate the heads of state companies, universities and state medical establishments and suggested that the government consider investing money held in the larger of its two sovereign wealth funds in ‘regional development and strategic projects‘.  President Dmitry Medvedev has expressed his despair at the number of economic crimes committed by businessman, as an affront to the ‘existence of a business-friendly climate’.  The Russian billionaires behind MegaFon are apparently mulling reviving a plan to list on the stock market, as well considering a deal for Alisher Usmanov to buy Mikhail Fridman’s 25.1% stake in the company, Russia’s second-largest mobile phone operator.  The central bank is reportedly ready to launch the sale of a 7.6% stake in Sberbank but without a specific date in mind.  Find out here why billionaire Vladimir Evtushenkov, who controls Russia’s biggest mobile phone operator, is experiencing difficulty in striking deals with India.  Russian private freight operator Globaltrans has announced an annual profit increase of 40% last year to $317.2 million, surpassing expectations.  Electronic cash transactions giant PayPal may be coming to Russia, says this report.  State nanotechnology chieftain Anatoly Chubais has apparently started up a real-estate development company.  Despite an intervention by Vladimir Putin and a loan-restructuring agreement, Taganrog auto factory TagAZ has filed for bankruptcy.

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