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Today in Russian Business – Nov 24, 2008

Unemployment currently stands at a seven-month high, but analysts say this is nothing compared with what’s to come.  Garry Kasparov predicts that troubles stemming from the financial crisis will lead to ‘more openness among the Russian audience to hear about social, political and economic alternatives‘, which could potentially strengthen opposition movements.  The Russia Tower, designed to be a symbol of Russian wealth, has been postponed due to a lack of funds.  RusAl says it won’t sell its 25% stake in Norilsk Nickel.  Its owner, Oleg Deripaska, wants the government to buy up metals stockpiles to prevent them from clogging the economy.  Private equity firm Onexim Group has bought Forbes Russia.  Analysts are speculating that Russia’s Central Bank has allowed the ruble to devaluate further after the currency’s recent weakenings against the dollar and euro.  Roman Abramovich’s Evraz Group has received a $1.8 billion loan from Vnesheconombank.