Moody’s Predicts New Russia Forecast: Moody's rating agency may raise its Russian banking sector outlook to 'stable' from 'negative' at the end of 2010, if banks return to pre-crisis creditworthiness levels.
Russia’s Meat Market Goes Global: Agriculture Minister Yelena Skrynnik announced during a meeting of the State Council's presidium that Russia may export 60 times more pork and poultry by 2020, even as it seeks to build its food security by reducing dependence on imported meat. Skrynnik notes that new technologies have made Russian meat more competitive on the international market. See President Medvedev’s summary of the meeting here.
Stocks on Three-Week High: Russian stocks headed for their highest level in three weeks after Intel Corp. reported record second-quarter sales and oil, the country’s chief export, traded at $77. Chris Weafer, chief strategist at UralSib Financial Corp., commented that, “the combination of Intel’s better-than-expected second- quarter results and stronger crude will be favorable both for the equity market and the ruble."
Dunkin Brands Pleased with Russia: In an interview with CNBC, Dunkin Brands CEO Nigel Travis shared his views on the state of the world economy as it relates to Dunkin. Pleased with the progress of the brand in Russia, Travis said the country “seems like the rest of the world now.”
Investors Stick to Emerging Markets: According to the BofA Merrill Lynch Survey of Fund Managers for July, investors are moving out of U.S. equities and switching into emerging markets, which have been gaining in popularity, as fears grow about the outlook for the global economy and corporate earnings.
Out of Africa and Into Russia: Naspers Ltd., Africa’s biggest media company, plans to buy a 28.7 percent stake in Russia’s Digital Sky Technologies as the company bolsters its Internet business and expands outside its home market.
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