First Deputy Prime Minister Igor Shuvalov has announced that Russia has again raised its target for revenue from various state asset sales next year to 100 billion rubles ($3.5 billion), more than 10 times the original target. 'The state will keep a so-called golden share in companies it considers important.'  But the move will link in neatly with Dmitry Medvedev's state-of-the-nation call to reorganize state corporations.  It sounds as though Medvedev is looking to Singapore for ideas about technical innovation, remarking during his weekend visit that 'the system of economic and technical education in your country is of great interest for us.'  The media have been responding to Medvedev's suggestion that Russia reduce its time zones to improve business relations. 'If you were to conflate the time zones totally, then obviously you would have some people who ...

First Deputy Prime Minister Igor Shuvalov has pledged not to fire workers from near-insolvent Avtovaz, but to create new subsidiaries employing up to 15,000 people.  Auto sales declined by 51% in the first 10 months of 2009, compared with the same period last year.  At the annual Foreign Investment Advisory Council, Prime Minister Vladimir Putin has wooed foreign investors by concurring with their criticisms about 'excessive bureaucracy'.  The number of unemployed in Russia has begun to mount, having fallen successively for six months.  The Central Bank may buy gold from the state repository, says its First Deputy Chairman Alexei Ulyukayev.  Evraz Group plans to sell as much as $1.04 billion of 10-year bonds, the company has announced.  Coking coal miner Mechel has seen a reversal of fortune, now back to a pre-crisis level of production ...

Ria-Novosti reports that first deputy prime minister Igor Shuvalov believes the path towards a customs union with Belarus and Kazakhstan is clear.  Bank of America Corp. has increased Russia's economic growth forecast for 2010 to 3.9% from 2.4%.  Citigroup Inc. estimates that Russia's economy will grow faster than previously estimated, according to Bloomberg.  Arabtec Holding has started foundation-test work on the Gazprom tower.  Sberbank may sell its stake in Opel to VEB, if a sale to GAZ Group falls through, Reuters reports.  President Medvedev has told German Chancellor Angela Merkel that he is willing to provide state guarantees for Opel investments in Russia, says Reuters.  A possible windfall for Avtovaz: the company may be assembling Nissan cars by 2012.  The Telegraph reports on tough times for the Lada.  The Times reports that Yelena ...

TODAY: EU chief has faith that Russia will not stand in the way of sanctions against Iran; US reproaches Russia on human rights; hope for WTO bid?  Yushchenko suggests NATO bid would receive popular backing; ethnic haters charged; new accusation for Berezovsky; chess matches and political clashes. Drama at the Bolshoi. EU foreign policy head Javier Solana has said that he does not believe that China and Russia will oppose new sanctions against Iran.  US diplomat Douglas Griffiths has told the UN Human Rights Council that 'in Russia we are concerned about killings with impunity of human rights defenders and journalists in the North Caucasus'.  First Deputy Prime Minister Igor Shuvalov has said that Russia ...

Deputy Prime Minister Igor Shuvalov is quietly optimistic that 'a slow and cautious recovery is under way'.   Shuvalov has predicted that the economy could return to its pre-crisis state by 2012 and does not envisage circumstances necessitating the devaluation of the ruble in the near future.  Finance Minister Alexei Kudrin has told reporters that Russia's GDP in the July-September period is expected to increase 1.5% against the previous quarter.  Is a new privatization program on the cards?  Reuters reports that Russia has apparently spent more than 50% of the $480 billion it had allocated for crisis fighting.  St Petersburg construction workers are apparently threatening Pikalyovo-style action unless Putin personally deals with the problem of wage arrears.  Who knows, they might even get a free watch.  The Washington Post reports that Russia has reached a settlement with ...

After a second consecutive month of growth in July, when GDP increased by 0.5%, government ministers Igor Shuvalov and Andrei Klepach have felt optimistic enough to suggest Russia's recession may be over - 'but the crisis has yet to be overcome'.  Sberbanks's profits fell by 93% in the first seven months of the year.  The bank will provide Rushydro with up to 20 billion rubles to fund the rebuilding of the Sayano-Shushenskaya hydropower plant.  ITAR-TASS reports that mortgage loan interest rates may decrease to pre-recession levels in 2-3 years.  Opel unions will put pressure on GM to accept the Magna bid for the car maker's European unit, promising 'spectacular measures' to push a deal through.  Apparently joblessness continues to rise in 47 of Russia's regions.  Following a chorus of criticism joined by Oleg Deripaska, ...

TODAY: Conflicting voices on air base deal; US hits back at Shuvalov's comments on WTO accession; fears of new Russian incursion prevalent in Georgia; priests find new role in crisis; Communists present Stalin as economic inspirationThe Kremlin claims that the US deal with Kyrgyzstan to continue using the Manas air base was approved by Russia in 'support all steps aimed at stabilizing the situation in Afghanistan'.  A Russian diplomat would appear to differ; saying that the news was 'a very unpleasant surprise for us -- we did not expect such a trick'.  The US has hit back against Igor Shuvalov's claims that Washington and the EU were to blame for Russia's decision to back out of ...

TODAY: Medvedev meets Egyptian President Hosni Mubarak and LAS in Cairo; supports idea of Middle East peace talks before year's end; Lavrov says Russian security idea is not anti-NATO; European report launches stinging attack on Russian justice systemMedvedev has announced that Moscow plans to hold a Middle East peace conference before the end of 2009, an idea supported by Egypt.  In a meeting with the League of Arab States, Medvedev commented that the peace process might result in an independent Palestine with the capital in East Jerusalem.  The BBC comments on the motivation for the trip: 'in terms of influence, Russia lags far behind China and the US - not just in Egypt but right ...

Finance Minister Alexei Kudrin has said that he believes the dollar is in 'good shape' and does not need to be replaced as a global reserve currency.   Russia will not 'significantly' change the structure of its reserves, he added.  The Moscow Times examines the place of Russia within BRIC, as its economy falters and its lack of a 'properly developed financial sector' becomes problematic.  At the first formal summit of the BRIC nations, new global reserve currencies will not be discussed, but reforming international financial institutions will be.  Russia and Canada will support Germany's deal to sell Opel to Magna.  China Development Bank has extended a $1 billion credit line to VEB.  Oleg Deripaska has invited two of Putin's allies, First Deputy Prime Minister Igor Shuvalov and Deputy Prime Minister Igor Sechin, to ...

TODAY: Talks on Russia joining WTO require work; South Ossetia election sees Georgia tensions simmer; no 'begging' for Belarus; Moscow opposition march broken up by police; Russian dolls President Dmitry Medvedev and Japanese Prime Minister Taro Aso have agreed on the need for a 'serious response' to North Korea and Moscow will apparently back sanctions.  The European Union, the United States and Russia will hold in-depth ministerial talks this week on the Kremlin's hopes to join the World Trade Organization.  According to Washington, 'a great deal of work remains, particularly by the Russian Federation, in order to take the accession process forward'. 'The statement itself is very unfortunate': UN Secretary-General Ban ...