Until very recently Russia was considered by many foreign companies a somewhat difficult but promising country for investment, a “land of opportunity” that perhaps necessarily came with a hefty dose of a “riddle wrapped in a mystery inside of an enigma”. The difficulty was stemming primarily from Russia’s heavy-handed bureaucracy. Stories of corrupt practices, politically motivated court decisions, and questionable tax authorities’ tactics abounded.

A few weeks ago, the Israeli ambassador His Excellency Yuval Fuchs delivered a speech at ISET, explaining the amazing transformation of Israel from what essentially was an agricultural state into what many economists call a knowledge economy. The ambassador reported that in his youth the foremost product Israel was known for were oranges. In the last thirty years, however, Israel created a high-tech sector that can compete (and in many aspects surpasses) the high-tech industries of the United States and Europe.

The growth forecast for the 1st quarter of 2014 has been revised upward from 5.3% to 7.3%. The growth forecast for the 2nd quarter of 2014 has been targeted at 7.0%. Meanwhile, Geostat has released an official quarterly growth GDP rate for the last quarter of 2013 and it is quite impressive 7.1%.

When Ukrainian President Victor Yanukovich decided not to sign the association agreement with the European Union and instead opted for a Russian package of long-term economic support, many Ukrainians perceived this not to be a purely economic decision. Rather, they feared this to be a renunciation of Western cultural and political values, and – to put it mildly – were not happy about this development.

When Ukrainian President Victor Yanukovich decided not to sign the association agreement with the European Union and instead opted for a Russian package of long-term economic support, many Ukrainians perceived this not to be a purely economic decision. Rather, they feared this to be a renunciation of Western cultural and political values, and – to put it mildly – were not happy about this development.