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Today in Russian Business – Aug 22, 2011

The former president of the Bank of Moscow, Andrei Borodin (currently wanted by the authorities), says that the Kremlin’s buyout of the bank was ‘an extremely inefficient use of state resources’ and ‘an insane waste of money’.  How embarrassing: the showcase takeoff of the new T-50 stealth fighter at the MAKS airshow had to be aborted yesterday, due to engine trouble.  Czech private equity group PPF has agreed to buy the remaining 50% of Russian retail chain Eldorado, giving it full control.  A Hamburg-based think-tank ranked Russia unhappiest out of 13 European countries, blaming economic uncertainty.  The Financial Times profiles Skolkovo, suggesting that the companies currently associated with the project have given their agreements ‘in name only’, with many waiting to see how things will pan out before committing.  The Telegraph sees a hint of ‘messianic zeal’ in William Browder.