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Today in Russian Business – Aug 12, 2011

The Kremlin has approved plans to raise state debt to $400 billion by 2014.  Many Russian souvenirs are now made in China, according to a profile by the Moscow Times.  Russia is offering its agricultural land to Southeast Asian farmers for growing crops.  Rostelecom’s privatization is unlikely to be completed before 2013.  Tata Motors first-quarter profits for 2011 have missed estimates due to poor sales of Jaguar passenger cars, which are down 27% year-on-year.  Globaltrans, part of Moscow’s N-Trans, is assisting Asia-EU trade by running goods containers along the trans-Siberian railway.  This report credits state backing for the announcement this week that AvtoVAZ is showing unusual profitability.