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Today in Russian Business – Nov 1, 2010

The state tenders system is helping Russia to lose up to $33 billion every year in bonus payouts for corrupt officials, says President Dmitry Medvedev. ‘Unlike other countries, we do not have the death penalty for this. Though sometimes it is thought to be helpful,‘ he said.  No concrete changes as yet, but the Kremlin is showing ‘readiness‘ for lifting restrictions for Russian IPOs placed on international bourses that will apparently happen once new insider trading laws are in place.  On the alternative routes that cheap US chicken is taking into Russia (apparently because it can’t sell it domestically): ‘The customer thinks he’s eating a Russian sausage, when in fact he’s eating an American chicken leg.‘  Russian debt is underperforming, and the economy may not meet the government or Citigroup’s economic forecasts for the year, says Bloomberg.