Today in Russian Business – Sept 30, 2008
Source: http://www.robertamsterdam.com/2008/09/today_in_russian_business_sept_21.htmPosted on Tuesday, September 30th, 2008 | In Russia
Contributed by: Robert Amsterdam (http://www.robertamsterdam.com/) -
Russian research firm the Romir Group has released a new study suggesting that inflation in the country is at roughly 40% – significantly higher than official estimates. The MICEX continues to suffer. Pledging a further $50 billion to increase liquidity in the Russian banking system, Prime Minister Vladimir Putin took a swipe at what he called a financial “contagion” spreading from the US. Polyus Gold has made an offer of $390 million for a 50% stake in KazakhGold. On the effects the credit crunch is having on real estate in St Petersburg. The general financial turmoil could cause land prices to drop, aggravating the already falling price of housing. Private equity firms haven’t given up on Russian opportunities, says this report.
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Tags for this Post:
KazakhGold, Real Estate, Romir Group, Russia, St. Petersburg, United States, USD, vladimir putin
KazakhGold, Real Estate, Romir Group, Russia, St. Petersburg, United States, USD, vladimir putin
 About Robert Amsterdam (http://www.robertamsterdam.com/)
Robert Amsterdam is a lawyer and an advocate for rule of law. His blog was created to express views which may stimulate debate and discussion on topics of international interest. Robert believes that we live in a world of unchallenged impunity, and he views his blog as merely a small attempt to shine a light on issues he views as important in countries with which he is engaged. He make no apologies or pretense of objectivity - he is merely stating his opinions. |
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