Today in Russian Business – Nov 6, 2008

Despite Dmitry Medvedev’s anti-corruption drive, the number of registered corruption-related crimes in Russia’s law enforcement agencies increased by more than 35% in the first nine months of 2008. The dramatic drop in steel exports initiated by Russian companies last month has spread across Ukraine, India, China and Japan. The IMF have approved a $16.4 billion loan package to help Ukraine deal with the financial crisis. Trading on the MICEX was temporarily halted again today. China and Russia could begin building a permanent border crossing as early as 2011. A $15.6 million lawsuit filed by environmental regulator Rosprirodnadzor against the Baikal pulp mill has been thrown out by an East Siberian court. Oleg Deripaska is attempting to have Norilsk Nickel’s share buyback reversed, after a court order to freeze the buyback was received too late.