fbpx

Today in Russian Business – Dec 2, 2010

It is looking likely that Russia and the EU will sign a document on the former’s accession to the WTO next week.  RusAl has appointed Sberbank and VTB Capital to help it with a listing of depositary receipts.  (Sourceless) reports suggest that China wants Russia’s cooperation in setting up a $10 billion development bank.  Renaissance Capital are not pleased about Russia’s current sovereign bond rating: ‘It is quite intriguing to see that countries like Ireland are still rated above Russia […] Even the most perfunctory comparison of these two countries makes it clear that Russia is nowhere near default, while Ireland is going to be lucky to avoid it.‘  Foreigners have been banned from working as salespeople at Russia’s marketplaces and retail outlets.