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Today in Russian Business – Sept 18, 2008

Russia has halted trading on its stock markets for the second day in a row in an attempt to prevent a crash caused by ‘panic-selling’, and to protect Russian banks, the three largest of which will now receive extra funds from the government. It’s Russia’s managerial class who are really set to suffer, says one journalist. Read a selection of Russian opposition commentators on the crisis. This journalist says that Russian leadership is to blame. Sochi, whose 2008 Investment Forum opens today, may be turned into a luxury resort after the 2014 Olympics. Cutting pollution is not high on the list of priorities for car connoisseurs in Russia, where ‘gas guzzlers’ are hugely popular. Aeroflot has forbid its subsidiaries to use its name in an attempt to protect its companies’ reputations from being damaged by the weekend’s plane crash. Diamond producer Alrosa has made over $15 million at an international auction. Rosboronexport says it has revived military contacts with Africa.