The ever-positive Vladimir Putin is forecasting 8% inflation for the coming year, which would be a 'post-Soviet low'.  The government will sell tons of its gold stockpile this year to cover its budget deficit and help it fund other supporting measures such as Moscow's $570 million federal loan.  Private lender Alfa Bank is working on debt restructuring terms for giants BasEl and RusAl, and threatening to take the latter to court over unpaid debts.  St Petersburg Bank plans to raise up to $150 million selling additional preference shares to cope with its losses.  Reuters has compiled a timeline on Russia's bad loans.  'For all of the vaunted stability of the current regime, Russians still don't believe in the permanence of their system enough to invest into their society,' comments this reporter in a piece about ...

Iranian President Mahmud Ahmadinejad has said that some countries have offered to provide Iran with uranium enriched to 20% for peaceful use as nuclear reactor fuel.  In a move to decrease energy consumption, Russia plans to ban the production and sale of all kinds of incandescent light bulb from January 1, 2014.  Gazprom hopes to take a 10% share of the US natural gas market within five years.  The company's deputy CEO, Alexander Lebedev, has apparently also said that it plans to gain a 25% share of the global market by 2020.  Bloomberg reports that the gas giant is in talks with Petroleo Brasileiro SA on joint operations.  Lukoil has said that it has no corroboration of reports that its partner, ConocoPhillips, may halve its stake in the Russian company.  Russia and Bolivia may establish ...

Corporate truce: Norway's Telenor and Russian partner Alfa have settled their long-standing legal wranglings and decided to pool their Russian and Ukrainian assets into a New-York listed mobile operator.  The Moscow Times reports that Prime Minister Putin has asked Renault to throw a financial bone to struggling partner AvtoVAZ, 'or we will have to discuss our relative stakes'.  Russia may borrow between $2 and $4 million in 2010 from the World Bank.  Retail giant X5 is looking to buy local supermarket chain Paterson.  Nokia will not be fined for violating Russian competition laws; it remain unsure if the same can be said for Ikea.  Rumors that Opel may move its van production from England to Russia have English workers in an uproar; Magna has denied the reports.  Digital Sky Technologies is buying more shares ...

Brooklyn could soon have itself a new Russian billionaire patron, as Mikhail Prokhorov has reportedly made an offer to own the New Jersey Nets, helping real estate developer Bruce Ratner with a $700 million bond to move the team and build a new arena in the New York City borough.Prokhorov, who has been developing an increasingly well known public profile as a Russian Richard Branson (see him jump his jet ski here), announced the news on his blog.  In one translation of his statement, Prokhorov says he is interested in bringing the "technology" of the NBA business model back to Russia, to build a sustainable and profitable professional league, and to give Russia a rightful place in the world of elite U.S. sports.This move will put Prokhorov right up there next to Chelsea-owner Roman ...

The Washington Post reports that Prime Minister Putin told businessmen at the Sochi investment forum that the Russian economy is 'totally underinvested' and lamented 'uncontrolled' US debt.  Russia's participation in the Opel deal would be a waste of time if technologies were not offered to the country, says Sberbank CEO German Gref, according to Reuters.  Sberbank expects its profit will increase considerably in 2010 compared to this year when provisions look likely to swallow up all its earnings.  Private equity fund TPG has said that the Opel deal has encouraged it to look to Russia for new opportunities.  Rusnano will issue up to $5.9 billion worth of bonds by 2015 to compensate for lost government investment.  Rusal is apparently looking to finalize its debt restructuring plans after talks with the Libyan Investment Authority and other sovereign wealth ...

Ria-Novosti reports that GDF Suez will, by the end of October, become a shareholder in the company building the Nord Stream gas pipeline under the Baltic Sea, Gazprom's deputy CEO has announced.  Norway's StatoilHydro is looking for new exploration possibilities in the Russian Arctic and said the investment climate in Russia is 'acceptable' for new projects.  A joint American-Canadian mission exploring the Arctic has mapped out considerable parts of the continental shelf for the first time.  E.On and Gazprom have put a project to build a power station in Lubmin, in eastern Germany, on ice.  The Financial Times reports that Gazprom has signed a deal with Bglobal, the smart meter and energy data provider, demonstrating its desire to enter into the British energy market.  India is apparently looking to expand its cooperation with Russia in ...

The Central Bank has cut its key refinancing rate to 10.5%, the sixth such cut since April.  Russia could borrow less than $18 billion abroad next year if oil prices stay high.  Finance Minister Alexei Kudrin has defended BRIC as a 'locomotive of the global economy'.  Apparently Opel will be sending less funds to Russia than initially reported: €170 million rather than €600 million.  Sberbank has insisted that the operations of Opel will not be directly influenced by the government.  Almost 5,000 Avtovaz employees face redundancy, according to ITAR-TASS.  Mikhail Prokhorov has complained that his charitable foundation has been forced to leave the city of Norilsk because of threats from 'feudal lords'.  Billionaire Alexander Lebedev has offered to give away shares in some of his firms to 'big western names' to bring them ...

The ruble has made its biggest leap in a decade, jumping 2.4% against the dollar, with Urals crude advancing to more than $65 a barrel.  GM has three final offers for the Opel sale, which included a modified proposal from Magna which would reduce the size of Sberbank's stake. Home improvement retailer Kingfisher is planning to expand in Russia with a new format store in Moscow, hoping the country has the market potential to be the 'next Poland' where sales have been buoyant.  Premier League side Tom Tomsk, which owes almost $6.4 million in arrears, will not be forced into bankruptcy says the Sports, Tourism and Youth Politics Minister.  Lawyers for billionaire Roman Abramovich have asked a judge to throw out a $3.5 billion lawsuit that former business partner Boris Berezovsky has filed against him.  Oleg Deripaska ...

Rosnano hopes to use President Obama's visit to urge him to introduce tax breaks for Russian companies, and conclude talks to establish a $1 billion venture fund with US companies to invest in Russia.  The number of unemployed could hit 18% by the end of the year casting serious aspersions on the government's anti-crisis plan.  Cherkizovsky Market may re-open by the end of the week, following a thorough cleaning.  Job cuts yesterday; today Oleg Deripaska's troubled GAZ group says that it may shut down several unprofitable units because of the economic climate.  Presidential aide Arkady Dvorkovich has said that all methods should be used to increase demand for housing.  Local pork producers are facing competition from importers of live pigs who use a customs loophole to dodge quotas and tariffs.  The Washington Post reports on ...

Total is willing to invite Gazprom to collaborate in Africa and elsewhere.  Gazprom has hit out at the EU for allegedly discriminating against its gas pipeline projects, just two days before its meeting with Ukraine to discuss payment issues.  The company may decrease its capital investment for gas production by as much as 30%.  China has offered Turkmenistan a $4 billion loan as Beijing seeks to establish a foothold in the nation's energy resources.  The two countries have signed a 30-year agreement, by which Turkmenistan will export 30% more gas to China each year, and which, according to the Guardian, will threaten Russia's 'hegemony over energy supplies from central Asia'.  Reuters examines why China has more luck securing reserves in developing countries as opposed to developed nations.  Gazprombank and the National Petroleum Corporation of Namibia have ...