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Today in Russian Business – Nov 23, 2011

Reuters reports that, according to Economy Ministry statistics, Russia’s GDP grew 5.6% in October year-on-year.  The ‘ever-darkening global backdrop, a now-certain European recession, significant growth deterioration in the U.S. and a soft landing in China’ all suggest, says Ivan Tchakarov of Renaissance Capital, that Russia should cut interest rates by half a percentage point this year.  Flagship airline Aeroflot is apparently mulling an offer for the purchase of 30 Airbus 320 aircraft worth $2.25 billion.  State-owned United Grain Company has reportedly agreed with privately held Dalport to invest up to $160 million in the construction of a grain terminal on the Pacific coast, at the Vostochny port, near Nakhodka.  On the decline of Russia’s once-thriving domestic film industry.