Today in Russian Business – July 22, 2008

Is Russia facing an economic slowdown? The owner of miner Mechel will seek to buy 3-5% of the company’s stock from the market to drive its price up ahead of a planned share offering. The latest Russian military technology “can’t match the speed and stealth of the latest US fighter”. British property firm Raven Russia has purchased the AKM Logistics warehouse complex in St. Petersburg for $216 million. The investment company of Alexei Mordashov has increased its stake in German shipping giant TUI. Governors favour big businesses “because it is far easier to collect taxes from them than from small and medium-size firms.”