Today in Russian Business – Dec 23rd, 2008

The number of unemployed in Russia will double over the next year to 10 million people.  Aeroflot is not considering a merger with S7 because the airline’s profit has dropped 57% and ‘there is nothing to merge with‘.  Cyprus’ top-range properties are still being bought up by Russian buyers whose wealth remains largely unaffected by the economic crisis.  Could the Kremlin’s offer of one-year loans to bail out Russia’s oligarchs be part of a plan to renationalize the economy?