In a rare sign of dissent, deputies from United Russia have reportedly refused to support a taxation bill proposed by the Finance Ministry. Russian social network VKontakte has announced it will put off its IPO in light of the Facebook float debacle. Preparations for the APEC summit in Russky Island have seen considerable sums invested: the Moscow Times reports on the results. Russia’s biggest lender Sberbank apparently saw net income rise by 6% in the first quarter, surpassing analyst expectations. Transit safety watchdog Rostransnadzor is reportedly considering tightening penalties against transportation operators who flout safety regulations. Promsvyazbank has launched an “Angry Birds” credit card. Russia is in dire straits economically and politically, argues this op-ed from the WSJ. It has been reported that a new tax for offshore profit could be on the cards. Property developer Etalon Group has apparently bought 93 acres of land in St Petersburg to build housing for around 22,000 people.