Today in Russian Business – July 18, 2008

Norilsk Nickel may buy back $2 billion of its own shares. Apple still has no plans to market its iPhone in Russia, despite growing demand and increased US imports appearing on the market. Fertilizer maker Eurochem has signed a $634 million deal with an international group of contractors to help it develop a potassium deposit. Business group Delovaya Rossia plans to lobby the government over corruption hindering small businesses. “Russia’s military technologies have slipped so far behind the United States and other Western nations that the country’s share of the global arms market could start shrinking soon.” Russian Technologies says the country’s defense industry lacks the resources to meet all its arms export contracts.