The New York Times
on the Daimler case: ‘the latest in a series of cross-border investigations into corporate bribery that appears to reflect a stark difference in how Russian and foreign governments approach corruption
‘. Dmitry Medvedev is urging bureaucrats
and business leaders to put full effort into developing the Skolkovo high-tech business park that, it is hoped, will diversify Russia’s economy. ‘We want this project to be full of life.
‘ Perhaps that’s why the project is being offered so many incentives
, including exemption from major taxes. He also said that Russia should develop its own computer games industry
, noting the popularity of gaming with teenagers. Wal-Mart is looking beyond the possibility of acquisition as part of its planned entry into the Russian market, which could lead it to build its own stores
in high-density residential areas. It is unclear why Uralchem has dropped its plans for an IPO on the London Stock Exchange, says the Times
, suggesting that poor investor demand could be to blame and noting interference from a former shareholder. Reuters
cites market conditions. The latest central bank interest cut takes it to a ‘record low
‘ of 8%, effective today.