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Today in Russian Business – March 25, 2011

Russian stocks are at their most expensive since 2008, thanks to the high price of oil, although Bloomberg’s data suggests that ‘Russian companies are spending more of their revenue on capital investments than any other emerging market, putting stocks at risk if oil retreats‘.  The Moscow Times has a special piece on the construction of a new Magnitogorsk Iron & Steel Works facility in Chelyabinsk, speculating about the plant’s potential consumers.  Interest rates have been left unchanged by the central bank as inflation slows.