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Today in Russian Business

There is a “strong chance” that Moscow will become one of the world’s top financial centers in the next 10 to 15 years, which would make it second only to London in Europe. One Russian journalist calls Russia a “safe haven for investors” during US market turmoil. Read a profile of car distributor Inchcape’s buyout of a St Petersburg joint venture. Prime Minister Viktor Zubkov intensified calls for the government to boost the country’s agricultural industry and raise the domestic portion of food products sold to 70% by 2012. Russia’s second-largest bank, VTB, will invest $500 million and hire 400 people in the next two years to expand its investment banking business. Magnit, Russia’s second-largest supermarket chain, will sell $554 million worth of new shares in London to help fund new stores.