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Invest in Russia’s Business Despite Economic Slowdown - Analyst
Invest in Russia’s Business Despite Economic Slowdown - Analyst
Sputnik International
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... 02.03.2015, Sputnik International
2015-03-02T11:55+0000
2015-03-02T11:55+0000
2015-03-02T12:55+0000
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Invest in Russia’s Business Despite Economic Slowdown - Analyst
11:55 GMT 02.03.2015 (Updated: 12:55 GMT 02.03.2015) 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.
4 December 2014, 09:55 GMT
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.