Liam Halligan News
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Russia’s government is tightening its grip on capital markets by expanding the investment-banking arms of two state-run lenders at the expense of Western firms.
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Russian President Dmitry Medvedev ordered an investigation of alleged parliamentary election fraud after Prime Minister Vladimir Putin faced the biggest protests in his 12 years in power.
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Prosperity Capital, the largest manager of Russia-focused funds, is planning a successor to its Quest portfolio, which provided returns of 3,300 percent over the past 10 years by buying distressed Russian companies.
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Russia’s first international bond sale since defaulting in 1998 is driving borrowing costs to record lows for companies from OAO Gazprom to VTB Group , the nation’s second-biggest bank.
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Hugh Hendry is a man worried about the future. Although the hedge-fund manager beat more than 80 percent of his peer group rivals in 2010, Hendry laments that he’s part of an oppressed minority -- and likens the threat of hedge-fund regulation to the plight of the Roma migrants expelled from France last summer by President Nicolas Sarkozy .
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Russian corporate bonds are trading at the most expensive level compared with stocks since January 2009, just before the Micex equity index began its biggest rally in a decade.
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Wall Street is headed to Russia as President Dmitry Medvedev tries to lure investors with state asset sales and revive the allure of the slowest-growing economy among the major emerging nations this year.
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