Georgian war spooked foreign investment, destabilized economy
(NEWSER) - The credit crisis has officially reached Russia, revealing just how fragile the Russian economy is, BusinessWeek reports. Stocks fell so much this week that the government today suspended both exchanges to stem further loss. But the country's reliance on foreign cash—disappearing as investors flee—is bound to affect more than stock prices. "The flight of capital has exposed the complete dearth of domestic investment," says a Russian telecom company's director of investor relations. More»
