Russia-Wal-Mart may enter Russian market.

WAL-MART.

Wal-Mart the worlds largest retailer of food, has joined the Russian Retail Association.

Leaving the impression that the are preparing to enter the Russian market.

A spokesman for the retailer confirmed on Friday, that the company had joined the retail lobby group following its appointment of Dr Stephan Fanderl, to examine the retail possibilities in Russia and markets of the region.

" We joined the Russian Retail Association this summer" the spokesman said.

There are rumors that there are indeed some very good buys on offer currently in Russia in the retail sector, in the wake of the economic slowdown.

Meanwhile back in the United States, Wal-Mart is set to pay out $640 million, to settle 63 law suits, which accuses the worlds biggest retailer of breaking labor laws.

The agreements follows a similar deal last month, when the company agreed to pay $54.3 million to settle a law suit in Minnesota, where staff claimed they had not been allowed to correct break times.

The company are on record as saying, that to settle the cases of which some date back years ago, was in the best interest of the company.