Βι¶ΉΤΌΕΔ

Βι¶ΉΤΌΕΔ World News’ monthly business programme Russia Business Report has visited Rostov-on-Don, South Russia’s trade and transport hub. With a population of over a million and a reputation for economic innovation, the city has attracted foreign investors such as Coca-Cola, Hyundai and Ikea.

This episode is presented by the Βι¶ΉΤΌΕΔ’s Fiona Foster and investigates everything from the long history of bribes to the hope of creating the Russian Las Vegas.

The episode will air onΒ Saturday 29 May andΒ Sunday 30 May*

Features from the May episode include:

Surviving the credit crunch
When liquidity for companies dried up during the financial crisis, the Russian state intervened and bailed out state-owned companies like carmaker Avtovaz, as well as some of the country’s most influential oligarchs. How are small and medium sized firms coping with the credit crunch?

Combating corruption
Corruption is one of the biggest problems for companies doing business in Russia – both domestic and foreign. President Medvedev has vowed to root out the long-established culture of bribes and kickbacks as part of his drive to modernize the economy. Russia Business Report asks Igor Shuvalov, Russia’s First Deputy Prime Minister how the government plans to tackle high-level corruption.

Reluctant partners
It's only a month now until the customs union between Russia and its neighbours Kazakhstan and Belarus enters its decisive phase. From 1 July 2010, all three countries will apply the same tariffs for imports from abroad. Hopes are the eventual creation of a single market of 170 million people will boost trade and investment in all three countries.Β  But now there's increasing concern among Russia's new partners that Russian businesses will benefit disproportionately from the deal.

Innovation - how much state do you need?
Russian companies need to be more innovative to compete on the world stage – the President as well as most economists and foreign observers agree on that. However, there’s disagreement about how much the state should be involved. Anatoly Chubais, head of Rusnano, a state-run nanotechnology company, explains why he thinks, in Russia, innovation works better with the state.

Russian roulette
After the government clampdown on casinos last year, the first legal gaming site has opened in Azov City near the Black Sea. It’s one of only four special zones in Russia where casinos are now allowed to operate.  The owners are hoping that it will become the Russian Las Vegas – will their gamble pay off?