There is a “strong chance” that Moscow will become one of the world’s top financial centers in the next 10 to 15 years, which would make it second only to London in Europe. One Russian journalist calls Russia a “safe haven for investors” during US market turmoil. Read a profile of car distributor Inchcape’s buyout of a St Petersburg joint venture. Prime Minister Viktor Zubkov intensified calls for the government to boost the country’s agricultural industry and raise the domestic portion of food products sold to 70% by 2012. Russia’s second-largest bank, VTB, will invest $500 million and hire 400 people in the next two years to expand its investment banking business. Magnit, Russia’s second-largest supermarket chain, will sell $554 million worth of new shares in London to help fund new stores.
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One Comment
I continue to be disappointed by the extent to which you fail to warn readers, who may not click your links, regarding the source of information you are reporting in news items. That “strong chance” language you are referencing comes from a bigwig at Renaissance Capital, which makes money by duping idiotic foreigners to do business in Russia. In other words, you are quoting what is essentially an advertisement for financial services.I think (and hope) you greatly underestimate the number of relatively unsophisticated readers who may utilize your blog for information about Russia; such persons might well not realize the subtle issues at play here. Frankly, I’m not even sure it’s appropriate for the Financial Times to publish such a ridiculously self-interested diatribe as it, too, could easily be misleading some readers who don’t appreciate the conflict of interest at issue.