fbpx

Today in Russian Business – May 25, 2010

A government forecast suggests that Russia’s GDP is expected to grow 3-6% annually from 2011.  Vladimir Putin apparently believes that Russia’s economic decline will be overcome within the next three years.  The Federal Antimonopoly Service has initiated proceedings against Evraz Group for allegedly using monopolistic tactics in the metallurgy sphere.  Complaints from disgruntled customers have forced Russia to question metal producers and pipemakers on price increases.  See an interview with Digital Sky’s Yuri Milner here.  New rules to welcome skilled workers into Russia are about to take effect, but, the Moscow Times wonders, are they actually going to work?  The government has replaced the long-standing head of the Russian Agricultural Bank with Dmitry Patrushev, the son of the country’s former top security official.  Russian Technologies will increase its stake in AvtoVAZ to more than 40%, but Renault will maintain its blocking stake, the Moscow Times reports.  Midsized lender Orient Express intends to launch Russia’s first initial public offering in the banking sector since the financial crisis first hit.  Electronic retailer M.Video is planning on an expansion.  Former Moscow prefect Yury Khardikov has denied that he has been detained abroad over accusations of defrauding Russia’s richest woman, Yelena Baturina, of $32 million.