With European stores looking empty, commercial real estate investors have turned to Russia where shoppers are still out in force.
After splashing out more than $1bn to buy a mall in Saint Petersburg last year, Morgan Stanley has returned to the Russian market to buy an even more expensive retail outlet in Moscow. Continue reading »
Do investors expect too much of emerging markets? Ruchir Sharma of Morgan Stanley Investment Management certainly thinks so, and has written a book to make his case.
He says investors should focus on today’s realities and not “the speculative titillation of futurology” imbedded in long-term forecasts of the Brics taking over the world. Here, taken from the FT, is Stefan Wagstyl’s review of ‘Breakout Nations’. Continue reading »