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Today in Russian Business – May 29, 2009

The Chairman of the Central Bank has said that if the ruble were to gain any more it would be a cause for ‘concern’, but has also said that the bank does not expect a second devaluation of the currency.  The Moscow Times reports on the way an employment stimulus program is being put into action by a factory in the Saratov region.  35 miners in Siberia have gone on strike over $657,000 in wage arrears.  Russian Railways has come to a $4.3 billion agreement with Austria, Slovakia and Ukraine, designed to reduce the delivery time for rail shipments between Asia and Europe.  Digital Sky Technologies chief Yury Milner says that the price he paid for a stake in Facebook was ‘suitable’ amid suggestions that the company overpaid.  The company also says that it plans to IPO within the next three years.  Several government officials have slammed Putin’s orders to draw up legislation for ‘infrastructure bonds‘.  Cell phone operator Megafon has put in a bid acquire up to 100% of telecoms firm Synterra.  Read here for an analysis of the troubles facing Avtovaz.