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Today in Russian Business – Dec 31, 2009

President Medvedev has asserted that Russia will continue to battle the economic crisis in 2010; meanwhile the Prime Minister has stated that monocities will be the focus of regeneration projects.  Putin has affirmed that battling the crisis was one of his greatest achievements of the year.  He may have his work cut out for him in 2010; he apparently foresees an 8.7% decrease in GDP next year.  2009 has ended with low inflation, arguably more the result of the effects of the recession than the central bank’s policies.  Reuters reports on the Rusal Hong Kong IPO: the company has provided exhaustive information about its financial status, (revealing a disastrous first half of the year), before it attempts to cash in on its $2.6 billion market capitalization.  A factbox provides some highlights of the 1,100 page listing prospective here.  Siemens has clinched a €580 million deal to provide trains to connect the Olympic town of Sochi.  It seems that Russia may be the most attractive emerging market for investors in 2010.