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Today in Russian Business – Dec 7, 2011

Reuters reports that Russian stocks and the ruble extended losses yesterday with investors rattled by popular discontent manifested at the elections.  ‘Investors are concerned that this will snowball into a concerted display of mass popular dissent’ Julian Rimmer, a trader of Russian shares at CF Global Trading in London, has told Bloomberg.  State arms trader Rosoboronexport will increase arms exports by 11% year-on-year to $9.7 billion in 2011.  Russia reportedly plans to sell six Sukhoi Su-30MK2 fighter jets to Indonesia for about $500 million.   Complaints by an industrial safety watchdog have dented the share prices of steel-making coal producer Mechel.  ‘I don’t know what else has to happen for the recognition of this systemic crisis to reach the entire aviation community’ says Deputy Transport Minister Valery Okulov of Russia’s aviation safety problems in the Wall Street Journal.  Three oligarchs, Oleg Deripaska, Viktor Vekselberg and Roman Trotsenko may compete to acquire the $190 million Sheremetyevo International Airport in traffic hub Vladivostok.  With two more Russian companies poised to enter the FTSE 100, ‘their imminent promotion has raised questions about corporate governance and the increasing sway of foreign firms in the City’, says the Guardian.