Today in Russian Business – Jan 10, 2011

As Russia enjoys its ten-day long New Year’s holiday, ‘some economists wonder whether the country can really afford such a long break, especially as ripples from the global financial meltdown are still being felt.’  Analyst Chris Weafer, quoted by the Washington Post, has estimated that the January holiday costs Russia up to 0.5% of its GDP, or about $62 billion.  A senior analyst at Roubini Global Economics sees lackluster growth in 2011 for Russia, with stronger inflation and increased government spending, in this video interview.  It seems Digital Sky Technologies has no plans to rein in its social networking investment drive: apparently the company plans to buy a stake in Twitter.  Russian pump manufacturer HMS Hydraulic Machines and Systems Group is reportedly planning an initial public share offer in London in the hope of raising around $500 million.