Russian business runs on different rules. News Corp.'s (NYSE: NWS) Rupert Murdoch, who has been doing business in China for years, is nervous about his Russian enterprises. This morning, the FBI announced it had rounded up a ring of data thieves, many from former Soviet Union countries. And then there's the little matter of BP-TNK, a joint venture between BP (NYSE: BP) and a Russian company, whose Russian shareholders are booting out its Western executives so they can take over the operation.

Here's what Silicon Alley insider reports Murdoch had to say about doing business in Russia: "We have great growing business there but just -- this is purely me, I'm sorry, I'm -- the more I read about investments in Russia, the less I like the feel of it. The more successful we'd be, the more vulnerable we'd be to have it stolen from us, so there we sell now."

In case you missed it, The Detroit Free Press reports that an international ring of data thieves used wardriving -- the practice of stealing data from unprotected Wi-Fi networks -- to take 40 million identities, use the information to print fake ATM cards, and steal millions of dollars. The corporate victims include customers of TJX (NYSE: TJX), Barnes & Noble (NYSE: BKS), and OfficeMax (NYSE: OMX). Five of the 11 defendants are from former Soviet Union countries -- "one is from Estonia, three are from Ukraine, and one is from Belarus."

Continue reading Why do we do business with Russia?

Why do we do business with Russia? originally appeared on BloggingStocks on Wed, 06 Aug 2008 13:55:00 EST. Please see our terms for use of feeds.

Continue reading As Russia's economy strengthens, so does its viewpoint

As Russia's economy strengthens, so does its viewpoint originally appeared on BloggingStocks on Mon, 29 Oct 2007 15:57:00 EST. Please see our terms for use of feeds.

Continue reading Oil closes above $70 on gasoline concerns and global tensions

Oil closes above $70 on gasoline concerns and global tensions originally appeared on BloggingStocks on Fri, 29 Jun 2007 18:20:00 EST. Please see our terms for use of feeds.

I was recently asked about a potential value opportunity in a certain Russian stock and thought I would share my current view. I am not ready to invest in Russian stocks. I do not trust the current government to protect investors. I do not expect the court system to play fair. I do not expect the rules, be they legal, banking, ethical, politcal or anything else to stay the same two days in a row. I have no confidence in Russia and everything I know about the subject leaves me with too many questions and not enough answers. The government of Vladimir Putin practices it's own ambiguous economic system.

From the International Herald Tribune: "President Vladimir Putin sought to reassure investors and foreign leaders that Russia remained committed to free trade and investment for businesses that work here, in spite of a chill in political relations with the West. But Putin said "Russia would integrate with the world economy on its own terms - and possibly not by embracing the current rules of the global economic order."

In China we aquired the stocks of four companies: Aluminum Corp of China ADS (NYSE: ACH), Huang Power International ADS (NYSE: HNP), PetroChina Co Ltd ADR (NYSE: PTR), and Shanda Interactive Entertainment (NASDAQ: SNDA). In India we own ICICI Bank (NYSE: IBN) and last week acquired Tata Motors (NYSE:TTM) We only buy stocks of companies listed on U.S Exchanges.

Continue reading Serious Money: China yes, India yes, Russia not yet

Serious Money: China yes, India yes, Russia not yet originally appeared on BloggingStocks on Mon, 18 Jun 2007 18:43:00 EST. Please see our terms for use of feeds.