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Today in Russian Business – Dec 28, 2011

Sberbank has completed construction of its $103 million high-tech automated archive center outside of Moscow.  The company will form a joint venture with France’s BNP Paribas that will offer consumer credit in Russia.  Computer company Lenovo has launched a new social networking site called the Do Network.  Are Renault and Nissan about to take over AvtoVAZ?  ‘Symbolically, the idea [of a Eurasian Union] has big support, but in reality, [Russians] do not believe in it, they are not ready for serious spending.’  Capital outflows will amount to $80 billion for 2011, according to Vladimir Putin.  Venezuela was the largest importer of Russian arms this year.  VTB has just brought its Bank of Moscow stake to around 95%.