Russian businessman Mikhail Prokhorov, net worth of $14.1, tops the list of Russian richest billionaires in 2008

Recently French car-maker Renault has announced its consolidated net income decreased by 78% to ?599 million in 2008.

The bankruptcy threat is real for Russian developer Mirax Group – yesterday the company failed to pay off a $200 million debt it owes to Credit Suisse.

After three years of thinking Norilsk Nickel has revived plans to establish its own airline company (Taimyr) under with $10 million invested in 2009.

Last year financial turmoil hammered foreign real estate markets, while the Russian market maintains leading position in terms of prices on luxury properties.

Transneft Company, operating national oil pipeline network, may involve Hyundai Corporation in building the second segment of Eastern Siberia-Pacific Ocean oil pipeline (ESPO pipeline).

The Moscow officials are set to redesign supertall Russia Tower in the international business area Moskva City.

Czech Investment Company PPF Group and Igor Yakovlev, the major shareholder of Russian leading retailer in consumer electronics Eldorado are set to form a joint venture.

Russian car manufacturer AvtoVaz surpassed famous Jaguar and Saab brands in terms of sales on the German car market.

After buying a 49% stake in Media One TV from Russian businessman Ivan Tavrin, the Walt Disney Company will launch its own TV channel for children and teenagers.