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Today in Russian Business – Oct 3, 2008

Iron ore producer Metalloinvest announced that it will not hold an IPO this year, amidst news that Russia’s IPO record this year has been the worst since 2004. On Russia ‘lecturing’ the US about the financial crisis, and the perceived end of US hegemony. Dmitry Medvedev’s criticism of US finance included the assertion that the world needs a ‘more just’ system. Medvedev insists that any measures taken to solve the global financial crisis must include major developing countries.