11/25/08
“Don’t Be Afraid Of The Bear”
Is Russia a good place in which to invest? “Yes,” argued Booz & Company’s Steffen Leistner, Tanvir Hanif and Thorsten Liebert (Europe) in a bylined article November 25 in Turkish Daily News. “Despite its economic and political complexities, Russia offers foreign banks a number of reasons to take a closer look,” the Booz & Company authors argue, citing the country’s economic emergence, rising incomes and lack of structure in the system, which is creating an opportunity for foreign banks at a time when the Russian oligarchs are retrenching. “Russia is the largest of the emerging economies across Central and Eastern Europe and one of the fastest growing, they wrote. “Although the recent slump in oil prices has slowed its escalation, oil is still costly enough to contribute significantly to the economy. Russian commodities industries are also surging and industries such as telecom and media are maturing.”