Automaker Fiat apparently hopes to build a plant in St. Petersburg after plans with GAZ Group to assemble cars in Nizhny Novgorod failed come to fruition. Good news for General Motors Uzbekistan, which has witnessed a major increase in sales in Russia over the first half of this year. Sberbank, it would seem, has grand plans for expansion into central Europe; see Bloomberg for details. According to Reuters, VTB Capital has acquired a 4.35% stake in Russian tycoon Oleg Deripaska’s En+ Group. As Barclays prepares to sell off Expobank, the Russian retail bank it purchased in 2008, the company is expected to record major losses on the doomed investment. See here a profile of Russia’s biggest media tycoon, Yury Kovalchuk. Time magazine has an in-depth report on why a flood of young businesspeople are abandoning Russia. How Hollywood has wooed Russian cinema-goers, to the detriment of its own film industry.