fbpx

Today in Russian Business – April 9, 2009

First Deputy Prime Minister, Igor Shuvalov, has commented that the government may establish a fund for isolating toxic assets‘.  Deputy Minister of Economic Development, Andrei Klepach, says that inflation is expected to slow down in the second quarter of 2009.  Since the beginning of April the Central Bank has bought more than $2 billion of foreign currency to boost reserves.  The major construction companies should not go bust, says Medvedev, according to Reuters.  Sulzer CEO, Ulf Berg, has been removed by shareholders after he lost the support of principal investor Viktor Vekselberg.  Russian Railways has reduced purchasing by as much as 30%.  In its long-running dispute with Alfa Group mobile provider Telenor has affirmed that a separation of assets is its preferred solution.  Creditors of Oleg Deripaska’s Basic Element are apparently not taken with the idea of converting debt into shares, says the Moscow Times.  Mechel faces a lawsuit in America from its shareholders, on the accusation of fabricating financial reports.  Belgium’s radiotherapy developer International Brachytherapy has signed a contract with Russia’s NanoBrachyTech in a deal worth over €7 million.