Today in Russian Business – June 6, 2008

The “glitzy” St Petersburg Economic Forum will take place this weekend, giving Russia an opportunity to “project its new confidence on a gloomy world economy”. Prime Minister Vladimir Putin and VTB’s president discussed the prospects for the establishment of an international financial center in Russia. The Economist focuses on Russia’s booming car market. Sergei Smirnov, a senior city financial inspector has been arrested on suspicion of demanding bribe money to turn a blind eye to a company’s financial violation. Diamond miner Alrosa has offered to buy 6.54% in Polyus Gold. A survey of international countries carried out for the Russian government says Russia is the most promising market for foreign investment, surpassing China and India.