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 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.
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.
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 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 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.
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.
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.
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.╜
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.
Russian markets have been caught up in the global selloff which has seen the Dow Jones close 4.3% lower overnight with the FTSE 100 in London down 3.4%. In Moscow, the MICEX was 3% lower at 11.00 AM after opening 4% down.
The Asian markets have opened in negative territory on Monday morning, falling by around 2 per cent. Japan`s foreign minister announced that his country will be holding on to its US bonds for the time being.
Call it the industrial de-revolution. Manufacturing in America grew last month at its slowest pace since 2009.
The Moscow city government has officially closed all retail operations at the Luzhniki market.
The Russian Supreme Arbitration Court has freed non-governmental organizations from paying a tax on the donations they receive from foreign foundations. The tax officials wanted to levy a 24 percent profit tax on such donations.
Italy`s Enel Group and Germany`s E.On having launched new capacity in central Siberia, say that further investment is on the way for Russia`s dilapidated energy generation sector
Dutch electronics buying group, Euronics, is to continue its Russian expansion with retailer Elektronika, which had been put on hold because of the economic crisis.
The 2012 presidential election will be held a week ahead of schedule, on March 4 instead of March 11, as previously planned.
Alfa bank has announced new mortgage options for non-residents working in Russia under special conditions applicable for all secondary market residential real estate approved by the bank.
EU leaders have gathered in Brussels for an emergency summit on how to come up with the cash promised for a second bailout to Greece. While leaders squabble, failing to agree on how to resolve the crisis, the euro`s future hangs by a thread.
With gold prices hitting a new all time high above $1600/oz on the back of 12 days of rises, Business RT spoke with Ole Slot Hansen, Trading Advisory, Saxo Bank, about the outlook, drivers, and factors at play.
With the global economic outlook looking increasingly volatile Business RT spoke with Natalia Orlova, Chief Economist at Alfa Bank, about how the various global risks could impact upon Russia and how well prepared Russia is to deal with them.
Drastic spending cuts are on the way in Italy as parliament desperately tries to fend off a spiraling debt crisis. It seems the fairytale dream of a unified euro has met with harsh reality, and the collision may not be pretty.
Germany`s HeidelbergCement has opened a $420 million cement plant in Tula region.
The spectre of contagion is again on the loose in European financial markets with Italian sovereign debt spreads widening their highest level against German Bunds ever, and Spanish debt costs rising higher.