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...question now is whether this international love affair with Russia as a place to do business can continue. The shooting war in Georgia this month sent investors in Russian stocks rushing for the exit: the RTS stock index has sunk to its lowest level since November 2006 and is down 32% in the last three months. The fighting was the most deadly sign that Russia is not a predictable or stable investment environment, but it was by no means the only one. Along with the new geopolitical uncertainties, foreign businesses and investors are also grappling with signs of economic vulnerability...
...have given Westerners further pause for thought. In July, Putin - who has apparently lost none of his influence since shifting from President to Prime Minister in May - leveled accusations of price gouging and tax evasion at one of the nation's biggest steelmakers, Mechel, sending its New York-listed stock plummeting. With memories of Yukos' fate still fresh, investors didn't stop there: Putin's comments wiped tens of billions of dollars off Russia's stock market in a matter of days. The Mechel furore came on top of an ugly, months-long scrap over control of oil company...
...moment, the best bellwether of Western sentiment remains the stock market. Its recent nosedive reflects not just political turmoil, but also signs of an economy under stress. While GDP is expected to rise about 7.5% this year, Neil Shearing, an economist at Capital Economics in London, warns that unless Russian authorities get a grip on this heady growth and "take some of the steam out of the economy, we could have a fairly nasty correction over the medium term." Meanwhile, a report published by the Organization for Economic Cooperation and Development in July warned that Moscow must do much more...
...York Bailouts: Bad For Business Rather than reassuring stock markets, a government offer to assist U.S. mortgage lenders Freddie Mac and Fannie Mae has spooked investors, who fear that a big government loan or purchase of corporate debt could devalue their own shares. Stock prices for both companies fell sharply in August, while Freddie was forced to sell $3 billion in debt at its highest borrowing costs in a decade...
...Still, Musharraf's exit is likely to provide the coalition a significant if brief popularity bump. The Karachi Stock Exchange rose 4%, and the rupee rose marginally against the dollar. But with inflation at 25%, alarming levels of capital flight, soaring costs of food and fuel, and rising unemployment, the economic outlook remains bleak. And as Pakistan-based Taliban become more confident, Islamist militancy is a growing concern...