fbpx

Today in Russian Business – Sept 7, 2011

Inteko, the lucrative real estate firm of Yelena Baturina, wife of Yury Luzhkov, the former Moscow mayor, has been bought by Sberbank and Mikhail Shishkhanov, the owner of Binbank, at 5% and 95% respectively.  Yum Brands’ restaurant chain KFC has incorporated the homegrown Rostik franchise and plans to nearly double the number of its Russian restaurants by 2015.   The Wall Street Journal examines the troubles of telecom operator VimpelCom Ltd.  On the occasion of Denmark’s Queen Margrethe’s visit to Russia, the two nations have signed a series of agreements concerning, among them, agricultural cooperation.  Russia’s farm ministry has issued an ambitious provisional plan to raise grain output and exports, reduce dependence on imported raw sugar and become an exporter of pork and poultry meat, which requires $230 billion of investment by 2020.  The Moscow Times reports on a raid at the Tagaz automobile plant.