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Today in Russian Business – April 16, 2010

In the bribery probe of Hewlett-Packard’s Russian offices, the Moscow Times reports that three Russians and four German citizens are accused of organizing a global web of shell companies to hide the transfer of €8 million in connection with a major deal to equip Russian prosecutors. The irony is that the bribes were allegedly paid to the Prosecutor General.  Billionaire Viktor Vekselberg is looking for scientists to join work at Moscow’s new Skolkovo innovation center, Russia’s version of Silicon Valley.  A Russian-sponsored conference on Internet security held in Germany brought to light ‘deep differences in how governments view cyberspace‘.  Brazil’s aircraft manufacturer Embraer is considering producing passenger jets in Russia.  It looks as though seafood firm Russkoye Morye’s IPO is seeing weak demand, as it has set its price at the low end of the range and cut the size of its offering.  First Trust has created the BICK, an index fund that swaps Russia for South Korea.