Today in Russian Business – May 5, 2008

The world’s biggest banks are advising their clients to load up on rubles, speculating that Dmitry Medvedev may allow a stronger currency after being sworn in as Russia’s president. Gains of up to 4% are being predicted. Russia’s nitrogen fertiliser producer Acron plans to raise $1 billion by placing up to 20% stake of its stock on the London Stock Exchange in July. Russia’s lingerie market “will probably expand at an annual 10% to 15% rate for the next few years”. Russia could improve production in the agriculture industry by attending to its fallow farmland. Lawyers claim that Oleg Deripaska owes former business partner Michael Cherney at least $3 billion after failing to honor an agreement concerning stakes in aluminum companies.