Today in Russian Business – Feb 1, 2011

According to official estimates, Russia’s GDP in 2010 grew by 4% from 2009, slightly outperforming forecasts.   President Medvedev has apparently criticized state corporations for being dilatory in adopting new technological processes and threatened that heads will roll if the situation is not remedied.  The findings of a government document suggest that state firms should increase their expenditure on research and development.  The Renault-Nissan-AvtoVAZ consortium is reportedly contemplating opening a vehicle-assembly factory in the Far East region.  Mitsubishi Motors will bring electric cars to Russia in springtime, Reuters reports.  The Telegraph has a profile of unashamedly unflashy tycoon Alexei Mordashov, CEO of Severstal.  Phone company Rostelecom and its regional affiliates may purchase media holding National Telecommunications from an ally of Prime Minister Vladimir Putin, says Bloomberg.