Comms giant Cisco Systems is seeking for tech VC investment capabilities in the Russian market. The U.S. networking stuff producer has tied up with angel Dr. Alexander “Sasha” Galitsky in his start-up Almaz (“Diamond”) VC vehicle. more

Fabulous social networking web site Facebook eventually opens for business in Russia. Is Mark Zukerberg’s brainchild hardy enough to withstand attack of home-bred clones? more

A contract software maker EPAM Systems reported Monday, May 19 it had lured $50 million in cash from three investment houses led by Russian Renaissance’s funds. more

Sistema corporation, one of a few Russian behemoths whose thriving doesn’t rely on country’s lavish fossil resources, announced that it has received radio frequencies in two additional Indian circles. more