Russia's Q1 direct investment down 20 pct to $12.8 bln

Russia saw first quarter 2011 direct investment slump to $12.825 billion, down 20 percent on the fourth quarter of last year, the central bank's balance of payments revealed on Tuesday. Direct investment includes foreign participation in Russian companies, reinvested profit and other capital. From 2010, the regulator has included investment not only in non-banking firms, but also in the banking sector. In the first quarter of 2011, foreign participation in Russian companies amounted to $2.384 billion, reinvested profit stood at $7.744 billion, while other capital amounted to $7.465 billion. In 2010, direct investment in Russia increased 17 percent to $42.9 billion.