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News Release from: Luxoft
Edited by the Manufacturingtalk Editorial
Team on 22 June 2007
Luxoft comment on Russian IT investment
Luxoft believes that companies thinking about investing in Russia should not be swayed by continuous negative press coverage
From Mr Blair's warning of an economic backlash against Russia, to Russia being lauded as a key economic hot spot by senior business leaders at last week's St Petersburg International Economic Forum, from a PR perspective, the pendulum of global approval keeps swinging in and out of Russia's favour The western media seems perpetually full of Russian headlines
This article was originally published on Manufacturingtalk on 7 Aug 2008 at 8.00am (UK)
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Luxoft comment: As Daniel Thorniley of the Economist Group said in St Petersburg this week, "More rubbish is written or spoken about Russia than any other country on earth," accusing media outlets like the Wall Street Journal of scaremongering.
No-one can deny that Russia has its problems as any country does.
But it is important to consider that what happens on the political stage is not necessarily reflected in the business world - Russia's economy has the potential to be one of the biggest in the world.
Luckily most captains of industry are not swayed by media hype and are positive about investing in Russia as the St Petersburg conference has shown.
Take Luxoft - we specialise in high technology and count companies such as Deutsche Bank, UBS and IBM amongst our clients.
They trust us to do a good job.
Hopefully companies thinking about investing in Russia won't be swayed by this continuous negative coverage.
Good headlines this hyperbole may make, but western companies would do well to take them with a pinch of salt.
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