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Today in Russian Business – Nov 3, 2010

The headquarters of Alexander Lebedev’s National Reserve Bank in Moscow was raided yesterday by ‘masked police officers […] many of them carrying semi-automatic weapons‘. ‘We don’t see any reason to organise this circus. Why do they come in here with their guns and masks? If they need a file they can come with a piece of paper and just ask.‘  According to a World Bank report, Russia’s ban on grain exports may have no effect on food inflation, as its caused prices to rise by 70% in foreign markets – the same markets that will need to import its grain from to meet domestic needs.  Grocer O’Key has raised $420 million in its London flotation, valuing it at around $3 billion and making it the largest Russian listing since Rusal’s IPO earlier this year.  Metalloinvest is reportedly considering a $4 billion IPO in London next year, anticipating a possible 33% rise in the price of iron ore by the end of 2011. Renault may increase its current holding in AvtoVAZ to a controlling stake.  Research into Russia’s online shopping market suggests that spending could reach $19.5 billion this year, largely thanks to travel transactions.