Today in Russian Business – Aug 22, 2008

Could business – “the most progressive force with any remaining power in Russia today” – save the country’s reputation? Analysts weigh the pros and cons of Russian investment – some say Russian stocks remain good targets for high-risk investment. Nonetheless, the Central Bank of Russia’s figures show investors pulling out of Russian funds at the fastest rate since the country’s 1998 debt crisis. EuroChem, the Russian mineral fertilizer producer, is seeking to organize a $1.5 billion loan to refinance existing debt. Apple has agreed to let Mobile TeleSystems, VimpelCom and MegaFon sell its iPhone in Russia. Russia’s unemployment rate fell to 5.3% last month.