January 11, 2008 By James Kimer

Today in Russian Business

Have you noticed the drought in news out of Russia over the past few weeks? According to a report in the Moscow Times, economists estimate that the extended holiday break has cost the economy 700 billion rubles ($28.5 billion), or about 2 percent of the gross domestic product. Russia’s state-owned gas giant is well known for sports marketing, from hockey to football teams. Now Gazprom is aiming for the grand prize – a role as one of the main sponsors of the London 2012 Olympic Games.