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Today in Russian Business – April 14, 2010

Renaissance Capital suggests that the government’s current fiscal policy will not protect it from another, ‘inevitable‘ global downturn.  The FT reports on the view that all elements of the economy not directly tied to raw materials are ‘stagnating‘, with a crisis of debts and banks refraining from loans to the real economy.  The government’s upcoming global bond, estimated at $3-5 billion, ‘is seen as a trophy credit by many dedicated emerging markets funds‘. Russian companies are attracted to Hong Kong because it offers deep pool of liquidity and experience with emerging markets. In addition, it is seen as a possible base for expanding into China or Asia,’ says Forbes. Russia will resume working with certain US poultry producers that have agreed to stop using chlorine to treat their supplies, following the January freeze on imports.  Prime Minister Vladimir Putin and a Kremlin investment commission have approved a deal to sell Bioton Vostok, a private insulin plant, to France’s Sanofi-Aventis.  55,000 car owners have traded in their ‘clunkers‘ for discount certificates on new models, but only 15,688 new cars have actually been purchased. New anti-monopoly laws for advertisers coming into effect next year will create a ‘big shuffle‘ for a market currently dominated by Video International with a 60% share.