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Today in Russian Business – April 20, 2010

The Sapsan train reflects how the modernization program announced by President Dmitry Medvedev is little more than a sham.‘  A new initiative by German companies working in Russia will see the 50 largest transnational companies operating there sign a document promising not to bribe Russian officials: ‘If companies announce they do not intend to bribe anymore, it can be hoped that no one will turn to them for bribes.‘  Oleg Deripaska says he will donate two thirds of his $62 million Rusal payout to charity. Deripaska said he deserved to be rewarded for ‘tak[ing] a company with a negative $10 billion value last year and mak[ing] it worth $20 billion‘ without losing key assets.  ‘The ruble’s strength may exacerbate a split between the bank and Prime Minister Vladimir Putin’s government, which has warned a strong ruble is hurting exporters including the country’s biggest oil producer, Rosneft.‘  The mortgage market is showing signs of recovery, with demand up by 10% last month as banks lower interest rates and the real estate market begins to stabilize.  Dozens of Russian companies are planning IPOs for this year.  Following negotiations, Russia will begin importing Ukrainian sugar – but only from sugar beet.