International Business
PepsiCo announces $1 bn investment in Russia
US soft drink giant PepsiCo said today it would boost investment in Russia by $1 billion, topping the list of US trade deals expected during President Barack Obama"s visit to Moscow this week. - North Korean missile launch is provocative action: US - US calls on all parties in Middle East to begin negotiations - Malaysia calls for evidence on NKorea banking charges - US lawmakers welcome US-Russia agreement on arms reduction - Progress made but long way to go in Pakistan: US - "India wants benchmarks for US aid to Pakistan" The increased investment will bring PepsiCo"s total outlay in Russia to $4 billion, the company said in a statement, adding the investment would be spread over the next three years. "I am delighted to announce that over three years we expect to invest $1 billion in our beverage and food businesses in Russia," PepsiCo chief executive Indra Nooyi said in the statement. "This investment reflects very clearly our great confidence in Russia and our long-term commitment to this very important market," he added. PepsiCo is among the US firms to participate in a US-Russian business summit tomorrow that aims to capitalise on a "reset" of ties expected from Obama"s meeting with Russian president Dmitry Medvedev. "Investors hope to hear some positive comments — the start of a process that "clears the air" on a number of investment issues, as well as in the political sphere," said Chris Weafer, chief strategist at UralSib bank.compare payday loans commented:
Soft drink company is surely a very big company then this is also a part of their profit making strategy, we surely have to watch this move of theirs.
21.11.2011