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Today in Russian Business – Nov 2, 2011

Russian firms have come in bottom place in Transparency International’s latest Bribe Payers’ index, as those most likely to pay bribes while operating abroad.  The most corrupt sectors are, the report says, public works contracts and construction.  ‘[E]ight years after the high-profile adoption of the UN convention against corruption, observers say there has been little real progress’.  Yulia Latynina considers some of the Russian government’s ‘dubious transactions’ in the Moscow Times.  Capital flight from Russia is expected to double to $70 billion this year, almost twice the previous estimate, the Central Bank has announced, reflecting investors’ negative impressions of the political and economic situation in the country.  RFE/RL has an interview with economist Marshall Goldman on the implications of Russia’s entry to the WTO.  The Moscow Times reports on Russian citiziens, Vladimir Putin among them, who will work beyond the retirement age.