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Today in Russian Business – July 2, 2009

Rosnano hopes to use President Obama’s visit to urge him to introduce tax breaks for Russian companies, and conclude talks to establish a $1 billion venture fund with US companies to invest in Russia.  The number of unemployed could hit 18% by the end of the year casting serious aspersions on the government’s anti-crisis plan.  Cherkizovsky Market may re-open by the end of the week, following a thorough cleaning.  Job cuts yesterday; today Oleg Deripaska’s troubled GAZ group says that it may shut down several unprofitable units because of the economic climate.  Presidential aide Arkady Dvorkovich has said that all methods should be used to increase demand for housing.  Local pork producers are facing competition from importers of live pigs who use a customs loophole to dodge quotas and tariffs.  The Washington Post reports on the suspension of production at both Ford and GM plants in Russia.  Russia’s largest car manufacturer, Avtovaz, reported a loss of $795 million last year.  Apparently the Russia economy is close to a ‘turning point’ after industrial production shrank at the slowest pace since September.  The Telegraph has an interview with ‘reformer‘ Alexander Lebedev.