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Today in Russian Business – Aug 24, 2011

The new governor of the Tula region, Vladimir Gruzdev, has just sold his Moscow apartment for $50 million, as the house of his predecessor is raided in connection with bribery charges.  On Leskov, the Tula-based company whose camera platforms are popular in Hollywood.  Sberbank’s planned privatisation is likely to be postponed due to international market turmoil.  United Grain Co. has sent its first shipment of milling wheat to North Korea as humanitarian aid.  It is anticipated that the central banks will hold on to their gold reserves, even if they need the cash, as the asset continues to rise.  State-controlled rail transport-costs are set to increase by 6%.  China’s CCB intends to create a full branch in Russia, with the aid of a $150 million cash injection.  There’s a hefty price tag on a state tender for the website for state tenders: $26 million.  The Finance Ministry says that the revenue situation is ‘not bad’ at present, mainly thanks to customs duties on imports.