Winter time undermines Moscow's ambitions to become a global financial center

Source: Bloomberg
© Scanpix/FP
Last year Russian Prime Minister Dmitry Medvedev ended the switch to winter time and increased the difference between London and Moscow from three to four hours. This change cut liquidity in Russia's stock markets and hurt ambitions to increase the role of finance, as currently the economy is very dependent on oil. This year Russian Micex Index lost 15% since 28th of October, as the London rolled the clock one hour back.
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