Today in Russian Business – Nov 29, 2010

Venezuelan President Hugo Chavez claims that Russia allocated $4 billion of credit to his country to spend on weapons last month.  Could new developments mean that the case against Sergei Storchak will finally be closed?  British Business Secretary Vince Cable concluded his Russia trip by calling their meetings a ‘breakthrough‘, and saying that Britain would ‘welcome‘ Russian investors.  Russian Railways will form a joint venture with Italy’s Finmeccanica worth as much as $2 billion.  The Moscow Times has some excerpts from Vladimir Putin’s speech at a business forum in Berlin in which he ‘harangued‘ Europe about its economic policy.  The domestic car industry is struggling, says the BBC.  Reuters lists a number of major pharmaceutical companies apparently planning to invest a combined $1 billion into Russian manufacturing.  The Bank of Moscow’s bond yields remain low, mainly due to expectations for bank consolidation, says Bloomberg. On Roman Abramovich’s $450 million island, which he plans to turn into a cultural and commercial center.