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Russia invites automakers with tariffs

Wed, 01/09/2010 - 01:20 by Prince damin

Moscow -- Prime Minister Vladimir Putin said customs tariffs on automobiles would be raised, calling it encouragement for foreign companies to set up shop in Russia.

"We do not want to undermine your (carmakers) business in Russia. Come to us and set up production here," the Russian news agency RIA Novosti quoted Putin as saying Tuesday.

By raising tariffs, Russia hopes to discourage imports, which would, in theory, encourage companies to build production facilities in Russia.

Putin said tariffs could be raised, because, "after all, members of the World Trade Organization … can afford it," he said.

The Fool's Look Ahead

Sun, 03/01/2010 - 10:58 by Rick Aristotle ...

The brand new trading year begins. After a robust 2009, mutual fund managers will be happy to begin touting what should be positive results for the trailing 12 months for a change. Things should be quiet on the trading front, with only a couple of foreign companies and Ark Restaurants reporting their quarterly results.