Today in Russian Business – Sept 8, 2008

The MICEX Index has fallen to its lowest level in two years amid a speedy flight of capital. Despite Yevroset’s offices being raided by authorities last week, Mobile Telesystems is considering buying a stake in the mobile phone retailer. Russia will create a state-controlled airline holding company to rescue the AiRUnion alliance from its crippling debts. An economic forum on Russia’s “Mega Projects” ran over the weekend in Yakutsk. Read a comparison of the British and Russian economies. President Dmitry Medvedev will attend the Asia Pacific Economic Cooperation organization summit in Peru later this year.