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Today in Russian Business – July 8, 2010

Reuters has five facts about Sergei Pugachev, whose lender IIB has become Russia’s first bank to renege on its foreign debt in a decade, after defaulting on $453 million of bonds.  Russia is apparently looking for a controlling stake in Kyrgyzstan’s only military plant, Dastan, which makes marine torpedoes, in exchange for part of the country’s debt.  The Telegraph reports on the latest in the Deripaska-Potanin Norlisk Nickel battle here.   Microsoft has reportedly agreed to share the source codes for certain new programs with Russia’s intelligence services.  Apparently 15% growth is expected in Russia’s car market thanks to the cash-for-clunkers program.  A discreet private investor has purchased the Compromat.ru, which sources compromising information about politicians and businesspeople.  Reports that the state plans to create its own search engine, as big as Yandex, have been validated by a Kremlin adviser.  NMDC may buy four coking coal mines controlled by billionaire Mikhail Prokhorov.  Vladimir Putin’s ideas on revving up the aviation sector.