Huge Moscow mall opens as recession looms
The opening in Moscow of Europe’s biggest shopping mall comes at an inopportune moment for investors backing the project. |||
Bloomberg MoscowTHE opening in Moscow of Europe’s biggest shopping mall comes at an inopportune moment for investors backing the project.The Aviapark mall opens its doors on Friday, just as Russia is headed towards recession and its businesses are contending with international sanctions over the conflict in Ukraine.Meantime, the rouble’s plunge to record lows, rising interest rates and the fastest inflation since July 2011 are eating into consumers’ finances. “It’s not the best time for opening such …read more
Source: Independent Online
