Today in Russian Business – Sept 25, 2008

Russia’s ally Kazakhstan has pulled out of business deals worth billions of dollars in Georgia, a state official said today; Aerospace and transport technology firm Bombardier has stalled talks to acquire a stake in Russian railway engineering firm TransMashHolding; Russia’s dollar-denominated RTS index fell fell just 1% to 1,299.97; Sberbank and leading Russian brokerage Troika Dialog both rejected reports on Thursday that the state-run retail savings bank had purchased the investment company; Russia’s Finance Ministry today stated that the liquidity situation was stabilizing and would improve; President Medvedev is having some fun criticizing U.S. management of the economy, remarking that the plan amounted to a “partial nationalization of their financial sector.”