June 25, 2010 at 09:44 AM EDT
ETF Plays To Follow Cisco Into Russia
Earlier this week, communication and IT industry giant Cisco Systems announced a massive push into the Russian market by investing more than $1 billion in the country over the next decade. The company will also be providing $100 million in venture capital in order to establish a “dedicated physical presence” in a planned technology hub outside Moscow, being dubbed “Russia’s Silicon Valley.” The company will also look to drastically increase the number of its networking academies and to establish a second global headquarters for its Emerging Technologies Group in a leading area on the outskirts of Moscow. This massive expansion in Russia represents a huge development for not only the company but for the Russian technology industry as a whole. The fact that Russia was able to attract such a large investment from Cisco to develop better infrastructure in the country suggests that the industry is up-and-coming and that efforts to [...] Click here to read the original article on ETFdb.com. Related Stories: State Street’s Russia ETF (RBL) Begins Trading Today Russia ETFs Head-to-Head: RBL vs. RSX Russia ETF In Focus
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