Today in Russian Business – April 27, 2012

The Economic Development Ministry has announced that it expects the country’s economy to grow 3.4% this year.  Goldman Sachs believes that Russia must move to curb inflation and overhaul its financial markets if it wishes to compete with fellow emerging markets for international investor interest.  On the cusp of Vice-Premier Li Keqiang’s visit to Moscow, Chinese newspapers have emphasized positive bilateral trade relations between the two BRIC countries, which apparently increased by 42.7% in 2011 on the previous year.  Forbes examines VTB Capital’s entry into New York City – and its plan to ‘become the Russian version of a UBS and Deutsche Bank.’  The FT reports on how the world’s largest gold producer, Canada’s Barrick Gold, has exited Russia with a sale of its $128 million, 20.4 % stake in Abramovich-controlled Highland Gold.  PricewaterhouseCoopers has announced it anticipates a 4% increase in the Russian car market this year in comparison with last year.  Automakers Mazda and Sollers set up shop together in Russia.  Viktor Vekselberg wants to see outgoing President Medvedev remain head of the board of trustees for the Skolkovo Innovation Center.  The Moscow Times has a profile of the unusual ascent of Russia’s richest man Alisher Usmanov.