fbpx

Today in Russian Business – September 1, 2009

The Guardian picks up on yesterday’s statistics regarding the poverty line and the jump in the numbers of people living beneath it, although analysts argue that the impact should not be overemphasized.  The Other Russia also reacted to the statistics, but suggested that the figure would be far higher if internationally recognized metrics were used.  The world’s largest agricultural equipment maker, Deere & Co, will invest $125 million in a new manufacturing and part center in Russia.  The St. Petersburg plant of U.S. carmaker General Motors has resumed production after a two-month suspension.  Avtovaz has resumed production after a one-month break which had been forced by falling demand and the country’s unstable social situation.  Steelmaker Evraz has posted a $999 million loss in the first six months of the year.  Russia’s grain harvest reached 70 million metric tons on August 28, and is apparently superior in quality to that of last year.   A trader from the now closed Cherkizovsky Market claims that goods have been stolen rampantly over past weeks from stalls owned by Russian traders.  The Moscow Times interviews innovation whizkid Yuri Milner of Digital Sky Technologies about Russia’s prospects in the technology sector.