Today in Russian Business – September 10, 2009

Although some parties may be pleading its case, a Nomura analyst says that Russia will not need to fall back on a second ruble devaluation, Bloomberg reports.  Central Bank Chairman Sergey Ignatiev has suggested that policy makers may decrease the bank’s benchmark interest rates as early as this month as the ruble has stabilized and inflation appears to have lessened.  The submitting of the budget, which usually opens the fall session of the state duma, will be delayed until October 1st due to disagreements over its terms.  The Moscow Times relays Communist Deputy Sergei Obukhov’s complaints that the budget will be hurried through without deputies being correctly informed.  With demand for cars plummeting, Renault plans to create a series of car part manufacturers, ready for when the market rebounds.  Sberbank has announced a net profit of $194 million in January-June 2009, compared to $2 billion in 2008.  The Health and Social Development Ministry has suggested that this fall will not see the kind of mass redundancies seen in January, February and March, but that the figure will only rise slightly more than usual.  The tension is mounting: apparently the head of Opel’s workers council has said he expects a decision on the sale of the unit today.