Today in Russian Business – May 8, 2008

Arms exporter Rosoboronexport has won its defamation suit against Oleg Shvartsman and Kommersant newspaper over allegations that it would abuse its power to take over small businesses. Swiss private bank Pictet & Cie is moving into the Russian market, seeking clients with fortunes of at least $2 million. Kommersant is reporting that Vimpelcom is to buy South Africa’s MTN. Russia has announced it will begin accepting US meat imports. The import tariff on raw cane sugar will fall to $140 per ton in June after the expiry of a $220 per ton seasonal tariff. Conflicting reports about the ruble’s potential appreciation are an attempt to “confuse” the market, says Commerzbank. New Russian tariffs on wood exports “breach the terms of its proposed entry to the World Trade Organisation“.