Today in Russian Business – April 13, 2010

A memorandum regarding Russia’s forthcoming Eurobond issue says that any oil price reduction would have ‘a significant effect on Russia’s budgetary revenues and foreign reserves‘ and its ability to make payments on the bonds.  The recent admission by Daimler that its Russian division had paid bribes to officials for five years offers President Dmitry Medvedev a perfect opportunity to prove that he is serious about combating corruption and investigate the case more fully, says the Moscow Times.  Mikhail Prokhorov’s Onexim Group and carmaker Yarovit are aiming to complete three prototypes of Russia’s first hybrid car by December.  Prokhorov’s $200 million purchase of the New Jersey Nets ‘has aroused impassioned protests‘ from locals who want his dealings in Zimbabwe scrutinized.  VTB Group and Polys Gold are reportedly considering listings and forging business ties in Asia following the success of Rusal’s IPO on the Hong Kong stock exchange. China’s Tencent Holdings is purchasing a 10% stake in Digital Sky Technologies, the Russian investment firm that holds a stake in Facebook.