Today in Russian Business

VTB, Russia’s second-largest bank, is completing its acquisition of a 50% stake in an unconfirmed commercial bank in Azerbaijan. Russia’s Alrosa has proven rough diamond reserves worth $109.3 billion. Belgian financial group KBC says its KBC Private Equity unit and venture capitalists will invest in Russia, each investing €10 million ($14.6 million) a year in medium-sized companies.