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Today in Russian Business – May 6, 2011

Bureaucracy and ‘defective institutions‘ are to blame for high prices of food, communications and real estate, says new analysis on Russia’s competitiveness.  Is the current attack on Domodedovo airport a backlash against the events of 2008, during which it ‘fought off what was widely understood as an attempt at nationalization‘?  A senior analyst at the U.N.’s Food and Agriculture Organization says Russia will see a huge‘ recovery in grain crops this year.  Russian agriculture analysts see next year’s harvest dropping below 70 million metric tons if local market prices remain low and the grain export ban remains in place.  Russia has the second-highest internet audience in Europe, after Germany, with 47.4 million unique visitors in the month of March.  Ukrainian Len Blavatnik, who made his fortune in Russia, could buy the Warner Music label.  South Korea’s KT Corp mobile company will sell most of its Russian unit stake to Vimpelcom.  The government is apparently going to spend $43 million on Victory Day Celebrations this year.  ‘The government would be better off using these funds instead to improve the lives of veterans.