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Today in Russian Business – June 30, 2008

The Other Russia is reporting on a new study by Russia’s Federal Anti-Monopoly Service, which says that state corporations and monopolies pose a threat to economic competition. Mobile phone company MegaFon announced profit advances of 51% for the first quarter on increased usage. Amtel-Vredestein has bought Sibur-Russian Tyres, creating one of Europe’s biggest tiremakers. Diamond producer Alrosa plans to sell two oil and gas assets in Western Siberia worth $400-700 million. Record prices for crops have “sparked a surge of investment interest for farmland in Russia and Ukraine” this year.