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Today in Russian Business – April 13, 2009

The ruble has reached its highest level in two and a half months against its basket currency.  Sberbank CEO German Gref says that Russia will see a ‘certain stabilization this March-April’.  VTB is to take a 75% minus one share stake in crisis-hit Dynamo football club.  Diamond producer Alrosa has said it will cut production by one-fifth this year.  A group of consumer cooperatives has announced that it plans to merge into one large company, with help from state banks.  Rosneft has repaid a $577 million loan to VEB more than six months in advance.  The Guinean Justice Ministry will contemplate legal action over Rusal’s acquisition of Friguia bauxite and alumina complex.  The tender for the development of the Big Ussuri Island bridge has been won by Moscow’s Financial-Organisational Consulting.  Norilsk Nickel may sells its 4% of treasury shares before the October deadline, says Bloomberg.  Russia is apparently disputing the ownership of Bulgarian tobacco maker Bulgartabac, along with other former Soviet Union companies.  Is bartering the new economic model?  Chelyabinsk Tractor Plant is selling a bulldozer to a cash-strapped construction company in exchange for $106,000 worth of condensed milk.