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Today in Russian Business – Jan 27, 2011

Following Monday’s terrorist attack, President Medvedev has made an abbreviated visit to the Davos summit, where he attempted to woo foreign investors: highlighting a desire to create a common economic area ‘stretching from the Atlantic to the Pacific’, pledging his commitment to eradicating corruption and warning against nationalization in response the crisis.  The President also defended the country’s attempts to improve its investment climate, arguing ‘what we do not need is lecturing’.  Learn about the President’s plans for a sovereign fund and increasing growth from 4% to 8-10% in an interview with Ryan Chilcote.  An area of particular emphasis, in the fittingly snowy climes of the Swiss Alps, were plans to build a $15 billion string of ski resorts in the North Caucasus Mountains – a risky venture, some would say, given the area is a hotbed of Islamic insurgency.  John Chambers, CEO of Cisco Systems Inc. has glowing predictions for Russia’s economy.  Whilst Medvedev sang the praises of Russia’s economic potential, Bill Browder apparently hosted a dinner to explain the dangers of dealing with the Russian authorities.  The international arrest warrant against telecoms businessman Yevgeny Chichvarkin has apparently been canceled.  The tycoon is not, however, planning on taking any chances.