Bailout addiction: Greece craves cash injection
Greek lawmakers are expected to approve an unpopular property tax as they battle to show they are serious about tackling the country`s debt crisis in order to receive a vital cash injection.
World doomed to another recession?
Thursday`s panic on the world`s markets was partly triggered by the grim economic forecast from the US Federal Reserve stating that complete economic recovery is years away. Investment advisor Patrick Young says another recession is inevitable.
Gold prices drive Highland Gold profits up
Highland Gold, the London listed Russian focused gold miner, has posted a 1H 2011 net profit of $70.3 million under IFRS.
China eyes oil refinery construction in Russia
China`s Sinopec and Rosneft could co-operate on the construction of a new oil refinery in Udmurtia on the basis of their joint venture, Sinopec President Wang Tianpu told journalists during his visit of the region on Tuesday.
Cash-flooded China to loan $1bln to cash-hungry Belarus
Belarus, which is going through a serious economic crisis, will receive a helping hand from China. The Asian powerhouse will loan $1 billion in exchange for preferences for Chinese companies in acquiring shares in Belarusian industrial facilities.
Russia puts end to gas wars
Russia has brought to an end the long-running debate over securing gas supplies to the EU, bringing all its European partners together to sign the landmark agreement giving the green light to construction of the South Stream gas pipeline.
Trade between Russia, China to reach $70 billion this year - Putin
Trade between Russia and China is recovering after the global economic crisis and may hit $70 billion this year, Russian Prime Minister Vladimir Putin said at a meeting with China`s top legislator on Wednesday.
Two-thirds of America think Obama`s plan will fail
When Republicans candidates lashed out at Barack Obama during this week`s GOP Debate, apparently they weren`t the only ones peeved at the president.
Pepsi absorbs Wimm-Bill-Dann
The world`s largest soft-drink producer, PepsiCo has accomplished a deal consolidating 100% of the stock of OJSC Wimm-Bill-Dann Foods (WBD).
Russian internet retailing attracts new $100 million investment
International interest in Russia`s booming internet commerce market has been underlined by a $100 million investment into internet store Ozon.ru.
Congress drags feet over $40-billion Obama jobs plan
President Barack Obama has presented his much-anticipated Jobs Act to Congress. It earmarks more than US$400 billion for putting people back to work. But critics say it is too little too late.
`Eurozone is exploding!`
Protests have spread across Europe as Greece, Italy and Spain are struggling to hold on to the euro. Meanwhile, residents of the strongest European economies, such as France, believe that their countries would be better off with a national currency.
Obama`s favorite green company calls it quits
Despite support from President Obama, a solar-panel manufacturer in California is closing its doors and laying off more than a thousand employees, citing foreign competition as the impetus that has made domestic production no longer "scalable."
Muscling into the Russian computer market
With the Russian computer market heating up as major global players focus on its rapid growth, Business RT spoke with Bai Yuli, VP, GM, Lenovo Russia and CIS, about the trends the major manufacturers see, and how they are leveraging this in Russia.
China Construction Bank to develop its banking in Russia
China`s second largest bank, China Construction Bank (CCB), will invest around $150 million to develop its Russian subsidiary, with analysts saying the bank is eyeing the growth potential of Russia`s banking market.
Fiat looking for quick decision on Russian plant sites
Italian car maker, Fiat, is looking to make a quick decision on a Russian engine and car production plant site, after signing an agreement with the Economic Development Ministry on June 21 to produce 120 thousand vehicles a year in Russia.
Asian markets join global freefall
Asian markets have followed the global selling binge amid fresh recession warnings and mounting debt in the Eurozone. We are seeing a sea of red across the board, with the stall in China`s flying growth contributing to trader concerns.
Pentagon to cut pensions for veterans
With the Pentagon looking for new ways to cut back on costs, a report released this week presents a plan to save $250 billion over the next two decades. All they have to do is take away retirement plans from veterans.
Czechs will think twice before turning to euro
In the light of the current economic crisis in the Eurozone, the Czech Republic has postponed its decision on adoption of the euro and is mulling the possibility of setting its sights on markets beyond Europe.
Gold breaches $1800
Gold has again been the biggest winner from continued market volatility, spiking through $1800 an ounce in Thursday trade, with investors shying away from continued Eurozone debt concerns and the prospect of further quantitative easing in the US.
Mail.ru Group and Sberbank to cooperate on electronic payments
Mail.Ru says that users of the Dengi@Mail.ru system, with the cards of Visa or MasterCard , will be able to replenish their electronic accounts through Sberbank`s bank machines and payment terminals without any commission.
Global selloff continues on the back of U.S. and Eurozone fears
With global financial markets witnessing the worst sell-off since the middle of October 2008, on the back of EU debt concerns and fears of a double dip recession in the US, Business RT spoke with Manoj Ladwa, Senior Trader at ETX capital.
Russian government debt takes hit
Russia`s government debt market took a hit from the instability on global fixed income markets as the ECB confirmed buying of Spanish and Italian long term sovereigns, and with the S&P downgrade of U.S. debt also weighing on sentiment.
Gold hits new record
On Friday Standard & Poor`s downgraded the US▓s credit rating from AAA to AA+ and people since then have flocked to buying gold. The value of an ounce of gold surpassed $1,700 for the first time today.╜
Poles no longer at euro pole position
As eurozone members join forces to save the common economy, one EU state is happy it is not bailing out the single currency. Poland was supposed to adopt the euro next year, but those plans are now on ice with Warsaw eager to stay out of the crisis.