| October 2008 |
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The global financial crisis could reach its peak in March-May 2009, a source in the Russian government said on Friday. 
The lower house of the Russian parliament on Friday authorized the government to use 175 billion rubles ($6.7 billion) to shore up the country's financial system. 
Sukhoi Civil Aircraft and NPO Saturn have asked the Russian government to allocate an additional 4 billion rubles ($152 million) for the production of the Superjet 100 airliner, a Russian business daily said Friday. 
Russia's state-owned Vnesheconombank (VEB) is in talks to buy Globex bank, which has defaulted on some of its obligations to clients, a Russian business daily reported Friday. 
Russia's RTS and MICEX stock markets sank below the psychologically important levels of 700 and 600 points, respectively, soon after the finance minister issued a stern outlook for the markets on Friday morning. 
Russian arms manufacturers should enjoy advance payments and five-year tax breaks as part of state defense contracts, Deputy Prime Minister Sergei Ivanov said on Friday. 