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Today in Russian Business – March 19, 2010

President Medvedev has announced a location for Russia’s answer to Silicon Valley; skepticism about the viability of such a project apparently abounds.  Vimpelcom is back in business with a US GAAP profit of $283 million for the fourth quarter of 2009 compared with a loss of $816 million the previous year.  How the BRIC nations are becoming the rich uncles to many a poorer nation.  UniCredit SpA and six other banks have applied to help Russia start up a bank based on the post system.  Truck maker KamAZ is looking for a Chinese partnership, says Bloomberg.  Avtovaz will make Renault SA’s Logan sedan and Sandero compact at its main factory in Togliatti as of 2014.  Sberbank’s net income fell 75% in 2010 whilst tackling bad loans.  Transportation minister Igor Levitin is reportedly advocating a return to using separate funds for paying for roads, a practice he believed to be more efficient; the Finance Ministry begs to differ.  A U.S. company is accused of illegally exporting defense technology used by the U.S. military to Russia and three other countries.