- Central Europe: in a recent issue (Vol. 10, no.3), the review Transnational Corporations, Unctad (United Nations Conference on Trade and Development) publication, studied the impact of privatisation in the transition economies of Central and Eastern Europe. The case- studies relate to Hungary (comparison of foreign direct investments (FDI) in privatisation projects and those for company creation), Poland (influence of FDIs linked to privatisation on company results), the Czech Republic (role and impact of merger and acquisition operations in several countries of Central and Eastern Europe and the Commonwealth of Independent States). Contrary to received wisdom by which host countries prefer FDIs for company creation to those intervening in merger and acquisition operations, the analyses undertaken by the review demonstrate that the two modes of investments in the countries never replace each other, each playing a distinct role in the move from a centralised economy to a market economy. - Russia: despite attempts by the Russian Government to set up a new climate of confidence, foreign investors barely invested 4 bn dollars in direct investments in the country last year. In all, FDI stock in Russia, since the fall of Communism, does not exceed 35.6 bn dollars, or barely 23.5 dollars per year per inhabitant, a derisory amount compared to Hungary ($205) or Estonia ($102). According to data of the Russian Minister of the Economy, the Americans confirm their leadership, ahead of Germany then Cyprus (from where in fact hidden or money-laundered capital is repatriated abroad) and France. - Poland: FDIs were down by some 30% in 2001 in Poland, at between 7 and 7.5 billion dollars, compared to 2000, says the governmental agency for foreign investment (PAIZ). According to analysts from the Economist Intelligence Unit (EUI), the downward trend will continue this year, when Poland risks only attracting 6.5 bn dollars in investments. A recovery is expected from 2003.