Today in Russian Business – May 10, 2012

Despite suffering from increased beer taxes in Russia, Danish brewer Carlsberg retains optimism for its performance in the crucial market, as the first quarter of the year did see a rise in its market share.  Sportswear titan Nike apparently hopes to plans to sign a franchising agreement with re:Store Retail Group in order to expand its presence in Russia.  Steel and coking coal producer Mechel has said that its net profit reached $727.9 million in 2011, an increase of 10.8% from the year-earlier period thanks to higher profits at its mining unit.  According to a Bloomberg News survey, Russia’s central bank is unlikely to cut interest rates for a fifth month, indicating its determination to hold inflation at a record low.