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Today in Russian Business – Dec 5, 2011

How has the market reacted to the dip in United Russia’s performance? wonders Bloomberg.  The results may not make a huge difference to Russia’s rating, says Ivan Tchakarov, chief economist at Renaissance Capital in Moscow.  An article in the FT delving into the construction of a Black Sea palace, allegedly as a residence for Vladimir Putin, could be damaging for the Prime Minister’s reputation, argues the Other Russia.  Sberbank continues its spending spree with plans to buy 75% of BNP Paribas SA’s Cetelem consumer credit unit by March, having completed acquisitions of Volksbanken International AG and Moscow-based Troika Dialog by mid-February.  Property developer Yelena Baturina, the billionaire wife of Moscow’s former mayor, has apparently refused to appear for questioning over the alleged embezzlement of billions of rubles of state funds.