During the Italian business mission to Russia, Italian defense enterprise Finmeccanica bought 25% of jet-maker Sukhoi’s civil aviation unit. Russia’s corporate debt stood at $423 billion on April 1, showing a drop of $30 billion. The Bank of Moscow is seeking a $300 million loan from foreign lenders, according to Bloomberg. State banks Sberbank and VTB have agreed bridge loans of $239.5 million with Avtovaz. It is reported that Truck manufacturer Kamaz cut production by 61% in the January-March period. Boeing Co will help Russian airlines find US credit for new planes. Russia’s gold and foreign exchange reserves decreased by 10% in the first quarter of 2008. The Telegraph analyzes the Kremlin’s motives in using state-owned bank loans to help indebted state-owned Gazprom buy its share in Eni. The number of unemployed in Russia is over 2 million, in statistics released by Health and Social Development Ministry. Russia’s consumer confidence reportedly plummeted to a 10-year low in the first quarter. Martin Gilman provides some anti-scaremongering ‘economic truths’ in the Moscow Times.