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Today in Russian Business – Oct 1, 2008

Russia suspended trading on its MICEX again yesterday morning for two hours, reportedly in an attempt to prevent volatility in the US market from spreading. Just how hard is the financial crisis hitting the oligarchs? Will debt problems in certain Russian banks and corporations lead to bankruptcies? And will cheaper Russian stocks yield bargains to eager investors? Eurocement says Russian cement prices may drop another 10%, making a total drop of 33% for the year. Russian property developer PIK lost most of its gains on a negative outlook for the sector. Russia has banned all Chinese food imports containing milk over fears of a health scare.