Today in Russian Business

Non-profit state-run nanotechnology corporation Rosnanotekh, created last year, has announced its business plans for the year. In the first quarter of 2008, Russian banks and companies will pay foreign creditors $35 billion, including $4.7 billion in interest. Sotheby’s last night sold $230 million worth of art, the most it has ever made in a London sale of modern and impressionist works, as rising demand from Russians defied concern about investment losses. Limitless, the development arm of Dubai World, will set up a new residential development in Moscow jointly with RDI Group.