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Buzz Barometer: Russia In World Headlines
July 31, 2015 23:22


Photo Credit: http://giacintprint.com
Reuters: “Russian state development bank VEB, whose subsidiaries were added to a U.S. sanctions list on Thursday, said it regretted the move but did not expect sanctions to have a significant effect on its operations.
The Business Insider: “The U.S. Treasury has added a bunch of entities to its Russia sanctions list, including a sovereign wealth fund that used to be connected to some pretty high-profile U.S. billionaires.
Private equity moguls Steve Schwarzman of Blackstone, David Bonderman of TPG, and Leon Black of Apollo Global Management all served as board members for RDIF when it was established in 2011.”
Deutsche Welle: “Global investment funds are turning increasingly skeptical about Russia's economic prospects, as investors show less interest in Russian equities. The "BRIC" investment idea is also no longer attractive.”
UPI: “As international sanctions push Russia toward its first recession since 2009, market analysts are predicting a worse outlook for the prices of crude oil, the country's biggest export.”
“The bleak outlook for the price of crude oil has prompted money managers at Franklin Templeton Investments and Paribasto to cut back in Russia.”
The Gulf Times: “Franklin Templeton, which oversees almost $900bn of assets, is liquidating its fund for the region, while French bank BNP Paribas exited its local fund-management venture and German reinsurer Munich Re closed its Moscow office.
An 18% slide in the rouble from this year’s May high, the extension of sanctions linked to the Ukraine conflict and oil trading near a three-month low have compounded Russia’s economic contraction. The dollar-denominated RTS Index has slumped 18% from this year’s peak, prompting some portfolio investors to also exit Russian holdings.”
“There’s no light at the end of the tunnel,” Simon Fentham-Fletcher, chief investment officer at Freedom Asset Management, said by phone.
Seeking Alpha: Brent Prices Have Investors 'Russian' Out
“Capital flight from Russia due to restrictions and unsatisfactory economic forecasts from a multitude of respected economists, pointing at a 3.5% GDP contraction in 2015. Lack of diversification as a chief oil exporter has the Ruble rumbling to relative lows. New Normal Expectations leaves Russia with a choice and opportunity to focus on supply side and/or technological improvements with emphasis on longer term competitive export advantages.”
FT Advisor: “However, some see the potential for further profits to emerge.
Mark Dampier, head of research at Hargreaves Lansdown, increased his holding in the Neptune Russia & Greater Russia fund during the nation’s conflict with Ukraine in 2014, and said he would consider buying again if the market retreated once more.
He stressed the country remained “unwanted, unloved and unfashionable – which is usually a great sign for investors”.
Business Day: “As Russian companies pay out an estimated 875-billion roubles ($15bn) in dividends in the year to end-July, some asset managers think foreigners are set to take the money and run.”
"The majority of foreign investors will probably refrain from investing their dividends into Russian shares.
"The low oil price, sanctions and economic slowdown haven’t gone anywhere."
AP: “The Russian central bank cut its key interest rate by 0.5 percentage points to 11 percent on Friday, bowing to the pressure of businesses to make lending more accessible.
Eurasianet.org: “Hopes are running high in Armenia that the pending end of international sanctions against Iran, its southern neighbor, will advance strategic investment projects. But Armenian analysts caution that Russia, Tehran’s longtime regional rival, may foil Yerevan’s ambitions.
Property Magazine International: “In the first half of 2015, investment in office real estate in Russia amounted to $579 million, which is up 70% YoY.”
Zawya: “A Russian mission encompassing 30 firms is to visit Egypt Sunday to discuss available investment opportunities in the Egyptian Market, Industrial Development Authority's (IDA) vice chairman Magdy Ghazy announced.
Ghazy told Amwal Al Ghad that the delegation is to visit Attaqa in Suez as well as north Fayoum to review investment privileges to establish industrial zones in one of those areas in the upcoming period. 
The official added that IDA would organise a visit for the Russian delegation to the two areas within the upcoming two days.”
Sources:
http://www.reuters.com/
http://news.investors.com
http://www.businessinsider.com

http://www.gulf-times.com/ 


Author: Mikhail Vesely

Tags: Russia International     

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