Only two or three of the existing laws on small and medium-sized business provide real support, Vice President of the Russian Chamber of Commerce and Industry Sergey Katyrin believes. Therefore the official welcomed the establishment of a council for small and medium-sized business support under the aegis of the Chairman of the Federation Council. At the first meeting of the council the official said that this issue, "despite scores of small and medium-sized business support laws, is an untrodden path".
Vice President of the Russian Chamber of Commerce and Industry expressed his dissatisfaction with the current state of small and medium-sized business in Russia. He stressed over the past few years the number of small businesses and other figures in this economic sector had been in a standstill. According to the official, the major guideline of the newly established council's activities should be the improvement of laws and the simplification of administrative barriers. Katyrin also pointed to the necessity to develop mechanisms of simplified access to finances and infrastructure for supporting and developing small businesses.
The head of Russian Technologies, Sergei Chemezov, clarified the fate of anti-aircraft guided missiles that Russia was supposed to deliver to China
The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13