Today in Russian Business – Aug 6, 2008

Russia’s arms sales are set to reach a new post-Soviet record with weapons exports exceeding $8 billion this year. Mikhail Prokhorov’s Onexim Group has agreed to sell 16% of Norilsk Nickel to Vladimir Potanin’s Interros. The New York Times reports on the biggest mining deal in Russia this year. Wal-Mart, the world’s largest retailer, may bid more than $2 billion for Russian superstore chain Lenta. Foreign managers are now permitted to bypass migration quotas after the migration service relaxed its work permit rules. Russia’s ten largest internet advertisers spent $260 million in the first half of the year.