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Today in Russian Business – Dec 1st, 2008

This weekend saw the annual Millionaire Fair in Moscow, heralded as the ‘anti-crisis event‘, less busy than in previous years, but still thriving.  RusAl has nominated Onexim Group president Mikhail Prokhorov to the board of Norilsk Nickel.  Manufacturing has fallen to its lowest ever recorded level.  PIK Group, the property developer, has received a $262 million, one-year loan from state development bank Vnesheconombank.  Steelmakers Mechel and TMK have requested a total of $3 billion in state loans to refinance their foreign debt.