Today in Russian Business – Jan 28, 2010

An article in the New York Times examines the Rusal IPO as part of Russia’s increasing interest in the Chinese market.  Rusal claims it receives ‘a call a week’ from Russian, Ukrainian and Kazakh companies who wish to follow suit and list in Hong Kong.  The Telegraph reports on the company’s shaky debut (though Deripaska remains apparently unruffled).  Video interview with Rusal’s Deputy Chief Executive Officer here.  China and Russia account for 76% of global IPOs so far in 2010, with flotation values of $6.7 billion, the highest on record for the month.  Meanwhile Deripaska’s copper and molybdenum miner SMR plans to sell shares in Hong Kong in May.  Russian banks are reportedly predicting a flurry of IPOs this year.  ‘Restructuring the ownership without “the Russian investor”: how Russia was left out of the Saab deal‘A gentleman’s agreement with the Russian government’: what are Alexander Lebedev’s plans for the money gained from selling his stakes in Aeroflot and Ilyushin Finance?  A steep rise in unemployment statistics implies that the economic recovery may still be frail.  First Deputy Prime Minister Igor Shuvalov has apparently complained that the US has not responded to an offer from Russia to activate negotiations for WTO accession.