Russian’s new thirst for beer is starting to challenge vodka, the country’s traditional drink. The beer market has grown at an annual rate of 20% in the past six years. One of the winners of this trend is the nation’s biggest brewer, Baltika, valued on the Moscow stock exchange at $1.9bn (£1.1bn). Its market share has grown from 8% to nearly 21% since 1996. The Sunday Times (Business) 16/05/04 page 1, page 7

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