fbpx

Today in Russian Business – June 7, 2010

German Chancellor Angela Merkel and President Dmitry Medvedev have apparently agreed that a ‘stable euro‘ is key to assured financial growth.  VTB Group chief executive Andrei Kostin has argued that the fragility of existing reserve currencies reflects the need for more alternatives.  Inflation remained at the lowest rate in 12 years in May.  The Moscow Times reports on General Electric’s plans to expand its operations in Russia.  Has Walmart stalled in its expansion plans?  Minority shareholders of Sberbank and VTB have complained about what they view as paltry dividends from a tricky 2009.  A bill to re-organize Rusnano, which will be the first state corporation to become a joint-stock company, has been passed in a first reading.  Belarus has confirmed that it is ready to join the customs union by July 1.  Prime Minister Putin has simplified rules for internal migration in an effort to encourage movement of labor within Russia.  Jonathan D. Nelms in the Moscow Times explains why Russian businesses will have to cooperate with the U.S. Foreign Corrupt Practices Act.