St Petersburg will open a competition later this month to select private partners for the planned $1.28 billion overhaul of Pulkovo airport. Oleg Deripaska has lost a court case brought by Czech fund PPF Investments over his insurer Ingosstrakh, after the court ruled that a company shareholder decision was not legitimate. Basic Element, which holds 60% of the insurance company, intends to appeal. The government wants to attract over $50 billion of investment into the country’s forests by 2020. Yevroset, the country’s largest mobile-phone retailer, has denied media reports that it was planning to sell a stake in the company to mobile operator MTS.