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Today in Russian Business – June 18, 2009

Deputy Finance Minister Sergei Shatalov says there will be no tax raises on individual incomes during the crisis, but the government plans to introduce an increase on gas extraction tax for businesses.  The Moscow Times looks the construction firms of Pikalyovo whose problems were not resolved by Putin’s visit.  As manufacturing shrunk in May, wage arrears grew by 10.8%.   Rusal has managed to negotiate a much more favorable rate in restructuring its $7.4 billion debt to foreign banks than other companies.  Novolipetsk Steel controller Vladimir Lisin has bought the radio station Business FM.  The Federal Anti-Monopoly Service has canceled $38.5 million worth of contracts for state orders because of typographical issues.   The Wall Street Journal reports on the opening of the first Carrefour in Russia.  Apparently the French food giant has suspended talks on the purchase of Seventh Continent for 45 days.  Lenta has denied that it is in any kind of business talks with Walmart.  Sberbank, VTB Group and Russia’s other lenders may encounter an increase in bad assets this year totaling $213 billion. The New York Times reports upon Russia’s hopes for reentering the civil aviation market with the superjet.