Today in Russian Business – May 16, 2008

The 13th Economic Forum opens in Yekaterinburg today, focusing on aspects of regional investment policy. Russian billionaire Suleiman Kerimov is planning to sell silver miner Polymetal. New York apples are being exported to Russia for the first time. According to a Kremlin source, Russia wants to increase bilateral trade with Mongolia to $1 billion by 2010. “A recent survey has found that the board of directors of a Russian company costs, on average, 15% more than the board of a western firm operating in Russia.” The percentage of Russians who spend half or more of their income on food has risen. Britain’s Virgin Group plans to take 10% of Russia’s broadband internet market within 5 years. “Record numbers” of wealthy Russians are buying real estate in Australia’s Surfer’s Paradise.