22:41 GMT17 February 2020
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    A financial analyst from US investment firm Neuberger Berman says it is a good time right now to invest in two Russian businesses, Magnit and Yandex, despite the overall slump in Russia’s economy.

    While some business analysts claim its not a good time to invest in Russia due to Western sanctions and the plunge of the ruble, others, like Conrad Saldanha of Neuberger Berman, advice to invest in a couple of Russian stocks, CNBC News reported.

    According to Saldanha, Russia’s biggest food retailer, Magnit, is a good choice to invest in.

    “Inflation is good for food retail but not for discretionary retailers. It’s a great place to be in the Russian context,” he said.

    Another business worth investing in is Yandex, Russia’s largest search engine, also known as “The Google of Russia”. Saldanha predicted that the internet company will see growth in the future.

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    Tags:
    investment, Neuberger Berman, Magnit, Yandex, Conrad Saldanha, Russia
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