Another Moscow market has fallen foul of the authorities: Izmailovsky Market, a popular place for tourists has been shut in connection with the closure of Cherkizovsky Market.  The Federal Council has rejected a Medvedev-initiated bill to create small innovative companies at universities.  The President will hold an extra session in order to pass it.  Sunrise owner Sergei Bobylev will be held in detention for fraud investigation; the most recent in the series of crackdowns on proprietors of big retail chains, such as Arbat Prestige and Yevroset.  Metalloinvest has apparently asked the government to guarantee its loans.  Mikhail Prokhorov's Onexim Group has announced that it will buy 51% of business news service RBC for $80 million.  According to the Economist's Big Mac index, the Russian Big Mac has become 13% more expensive and shows Russia closing the ...

GAZ, the automaker owned by Oleg Deripaska, will buy 50% of VM Motori, already 50% owned by GM Motors. President Dmitry Medvedev has ordered the construction of a $1 billion suspension bridge to link the Far East city of Vladivostok to Russky Island in time for the 2012 APEC summit. The criminal investigations made into mobile phone retailer Yevroset could be an attempt to undermine the possibility of it selling its shares. The IMF wants sovereign wealth funds to be run according to a code of conduct to avoid a “protectionist backlash”.

“Moscow's current economic dilemma is that the old sources of growth will soon be exhausted.” Law enforcement officers have raided the Moscow headquarters of mobile phone retailer Yevroset. Mechel, Russia’s biggest coking coal producer, is seeking approval to acquire indirect control of German metals trader HBL Holding. BP’s Baku-Supsa pipeline, which transports crude from Azerbaijan to Georgia's Black Sea coast, is "undamaged", but closed for security reasons.