‘Negative Headline’
Navalny’s conviction is “another negative headline for Russia, another reason why funds will hold back and locals will continue to stash money offshore,” Tim Ash, head of emerging-market research at Standard Bank Group Ltd. in London, said by phone. “Investors want a level playing field, strong and independent courts, they don’t want arbitrary, politically driven prosecutions.”
www.bloomberg.com/news/2013-07-17/putin-critic-navalny-defiant-before-fraud-verdict-as-jail-looms.html