Today in Russian Business – March 8, 2012

‘China and Russia are going to double their defense spending by 2015.’  Russia’s first bond auction since Vladimir Putin’s claim of election victory saw it selling just 8 billion roubles out of a possible 45 billion seven-year bonds, as investors blame this week’s holidays and observers blame ‘growing concern about Russia’s finances and politics’.  India’s Defense Ministry has barred Russian defense firm Corporation Defense Russia from bidding for contracts for the next decade due to its connection with a corruption case from three years ago.  ‘Apple does not see Russia as a key market.  It’s almost as if they thought we were a third world country.’