Reuters examines how Vladimir Putin has tried to re-brand the image of Russia’s investment climate with a $10 billion state-backed fund. Reuters has a fact box on the initiative. Paul J Saunders suggests the Prime Minister has his work cut out for him: ‘During a recent visit to Moscow, I was struck by how many people told me that corruption under Medvedev was more extravagant than under Putin, when it was in turn more widespread than under Russia’s first president, Boris Yeltsin’. Could the price of an IMF loan to Belarus be major political reform? Mobile operator MegaFon has apparently paid $270 million to acquire wide-band Internet provider NetByNet. The latest in Russian military technology: fighter jets with ray guns.