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Today in Russian Business – June 4, 2008

Saudi Arabia has given its consent for Russia to become a member of the World Trade Organisation, and the two have signed a bilateral accession deal. “Saudi Arabia has become the 60th WTO member with whom we have completed negotiations on market access,” said the Economic Development Ministry. Cellphone operator Vimpelcom signed a deal to buy the remaining 49% of Internet provider Corbina for around $404 million. A global slump in the demand for “the world’s most anti-environmental car”, the Hummer, is causing General Motors to consider selling the brand, although Russian sales of the car have risen 51% in the last year. The Economist on the battle to consolidate Russia’s metals sector.