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Today in Russian Business – June 8, 2011

According to the Russia Competitiveness Report 2011 released by the the World Economic Forum, Russia is lagging behind other BRIC economies in global competitiveness and growth.  The BBC considers some of the reasons why Russia does not really belong in BRIC.  It seems that Russian fertilizer producer Phosagro may be the next Russian company to announce a London listing.  A new bill introduced before the state duma would see minority shareholders receive the same access to documents and commercial secrets of companies and their subsidiaries as major shareholders have.  Russia’s ban on EU vegetable imports and the resumption of grain exports could, some suggest, prompt an increase in food prices.  The Moscow Times reports on the establishment of a new sovereign direct investment fund initiated by President Dmitry Medvedev, which hopes to reduce the worries of foreign investors about Russia’s business climate by making the state a partner.