Today in Russian Business – April 1, 2010

In spite of this week’s bombings, Russian stocks have climbed ‘more than every major market this week‘.  Finance Minister Alexei Kudrin is urging his fellow Commonwealth of Independent States members to step up trade and mutual financial support, following a slump in CIS GDP in 2009.  A UN report estimates that 10% of Russia’s work force are foreigners.  Vneshekonombank has received a number of bids to join its Postal Bank project, a ‘sprawling retail bank‘ which aims to challenge Sberbank’s leading market position. Deputy Finance Minister Sergei Storchak is optimistic about the prospects for issuing Eurobonds in rubles.  On the ‘hi-tech‘ President Medvedev.  The billionaire in charge of coordinating ‘Russia’s answer to Silicon Valley‘ wants the project to receive tax breaks for at least five years.  Roman Abramovich will be forced publicly to explain his business dealings and ties to the Kremlin as part of a lawsuit brought against him by his former business partner Boris Berezovsky.  The Times provides some background to their quarrel.