December 2003
Growth keeps investors on board
Foreign investors with their eyes fixed on Russia's
continued powerful economic growth are shrugging off the recent
arrest of Mikhail Khodorkovsky. The CEO of oil giant Yukos and
Russia's richest man, he was pulled in on October 25 by
Kalashnikov-toting officers of the FSB (federal securities
services). This might have briefly unsettled the stock market, but
foreign companies selling soap and coffee to increasingly affluent
Russian consumers believe their businesses will be
unaffected.
"It was a flash in the pan," says Peter
Boone, the head of research at Brunswick UBS Warburg. "Even if they
liquidate Yukos, which I am sure they won't, then it will be a
bigger flash in the pan. But key is that the economy has passed
critical mass. The disappearance of Yukos won't alter the structure
of the economy, which currently creates a very profitable business
environment."
Right on cue the economic development
and trade...
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