fbpx

Today in Russian Business – Nov 26, 2010

British Business Secretary Vince Cable will speak in Russia today on the need for it to diversify its interests away from natural resources, drawing a parallel with the UK’s over-reliance on financial services.  Thomas Cook, lured by a ‘fast-growing Russian package holiday market‘, has signed a $45 million agreement with tour operator Intourist, which will operate under the latter’s board once the deal closes in January.  People’s Oversight, a group created by United Russia with the aim of reducing basic food prices, is taking credit for the fact that prices have been falling since September; but have they?  Russia may need to import 5 million tons of grain before July 2011, and that’s even after a projected 2011 harvest of 80-85 million tons, which hinges on the success of higher spring sowing.  Central bank interest rates have remained unchanged for six months running.