Today in Russian Business – Aug 30, 2011

Sberbank will buy Austrian lender VBI for $850.3 million.  Belarus wants Sberbank to ease the conditions of its $2 billion loan for potash miner Belaruskali, as the country undergoes ‘unprecedented political and economic turmoil’.  The World Wildlife Fund is appealing to the top Swiss court to block construction of Aminona, a luxury alpine resort funded by a group of Russian investors.  Gazprombank will get a loan from the Nordic Investment Bank to help it promote energy efficiency.  Rusagro has suffered a first half loss of $2.5 million due to ‘one-off charges to cover executive stock awards and unrealised losses’.  On the exponential growth of Russia’s hotel hospitality for the elite.