fbpx

Today in Russian Business

Is Moscow’s real estate bubble about to burst? KamAZ, the country’s largest truck maker, may sell one-quarter of its shares for $1.25 billion this year to a strategic investor from the European auto sector. Sberbank‘s net profit for 2007 increased by “about 100 billion rubles” ($4.2 billion) according to international financial reporting standards, and not by the $4.9 that German Gref had originally claimed. Rambler Media, owner of the Internet’s third-largest Russian-language search engine, sold 51% of its advertising arm to Video International Group. Finance Minister Alexei Kudrin has called for a cut in federal spending. “Russia’s top economic policymakers disagreed publicly on whether the economy is overheating, highlighting a growing rift over strategy.” President Vladimir Putin is scheduled to meet Enel’s CEO, Fulvio Conti, together with executives from Eni and Finmeccanica, in Moscow.