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Today in Russian Business – Aug 27, 2008

Russian stocks have taken yet another hit following President Dmitry Medvedev’s recognition of the independence of Georgia’s breakaway states, with investors pessimistic about future prospects. Nissan Motor sees strong growth continuing in Russia over the next five years but is wary of an inevitable decline. Japan’s Hamada port “is rapidly becoming a hub for trade with the Russian Far East”. Prime Minister Vladimir Putin has ordered the government to provide jet fuel for AiRUnion, “the beleaguered alliance of five airlines”, from its contingency reserves. Yury Luzhkov, the Mayor of Moscow, has approved a $12 billion road building investment program for 2009-2011.