United States Foreign Investment Russia

The United States on Friday signed its first economic agreement with Russia, authorizing loans and insurance to American companies that do business in the former Soviet republic. Secretary of State James A. Baker III, who signed the agreement with Russian Ambassador Vladimir Lukin, hailed it as "an important step in normalizing our economic relations, commercial relations with Russia."

Chase Manhattan Corp. said a $477-million gain in Treasury bond investments during July and August may offset trading losses it suffered amid Russia's bond default and currency devaluation. The gains in value were in a portfolio managed by the global markets business of the country's largest bank, and "a portion of the unrealized gains in that portfolio may be considered as an economic offset to its trading portfolio," Chase said in a filing with the Securities and Exchange Commission.

Chase Manhattan Corp. said a $477-million gain in Treasury bond investments during July and August may offset trading losses it suffered amid Russia's bond default and currency devaluation. The gains in value were in a portfolio managed by the global markets business of the country's largest bank, and "a portion of the unrealized gains in that portfolio may be considered as an economic offset to its trading portfolio," Chase said in a filing with the Securities and Exchange Commission.

Despite an intensifying power struggle in Russia and worries about a possible return to communism there, a major U.S. chemical company Tuesday decided to go ahead with plans for a Russian joint venture. W. R. Grace & Co. said it would invest several million dollars in a factory to make vacuum-packed food containers and set up a sales division in Moscow. For Grace and most other companies, it has been easy to stick with plans for investment in Russia.

Despite an intensifying power struggle in Russia and worries about a possible return to communism there, a major U.S. chemical company Tuesday decided to go ahead with plans for a Russian joint venture. W. R. Grace & Co. said it would invest several million dollars in a factory to make vacuum-packed food containers and set up a sales division in Moscow. For Grace and most other companies, it has been easy to stick with plans for investment in Russia.

The United States on Friday signed its first economic agreement with Russia, authorizing loans and insurance to American companies that do business in the former Soviet republic. Secretary of State James A. Baker III, who signed the agreement with Russian Ambassador Vladimir Lukin, hailed it as "an important step in normalizing our economic relations, commercial relations with Russia."