Today in Russian Business – Nov 7, 2008

A new poll by VTsIOM suggests that almost half of Russians fear that the credit crisis will cause them to lose their jobs. This article praises Alexei Kudrin’s role in accumulating the stabilization fund that is now keeping Russia afloat. The Audit Chambers says it has identified $2.7 billion in misappropriated government funds for the year, some resulting from ‘corrupt practices’, and Russia’s chief military prosecutor says that there has been a sharp rise in incidents of corruption in the military and security services this year. Oleg Deripaska’s Basic Element has won the tender for a $1.28 billion state-funded railroad in Russia’s far east. Invesment bank Okritie has agreed a takeover of Russky Bank Razvitia. Read a report on the move to send a squad of state officials to sit on the board of Norilsk Nickel.