70% of China’s savings are available in U.S. Treasury bonds and dollars – the crisis currency, which at the first germ of stability has a chance to fall, rather deep, given how fast it is printed. If the Chinese decide that the time has come to sell, inevitable tectonic shifts will happen in the world Read more
The drop in housing values in the 20 largest U.S. cities in March exceeded forecasts. According to the index S & P / Case-Shiller, the decline in the prices became 18.7% compared with that of March 2008. Analysts of the agency Bloomberg predicted reduction index of home prices to an average of 18.3%. Prices have Read more
OPEC decided to maintain the current quota of oil production, reports Bloomberg referring to the statement of representatives of countries that are members of the organization. Currently, the quota for the extraction for 11 countries in the organization (Iraq is not subject to the quota) is set at 24.845 million barrels of oil per day, Read more
The EU and Russia agreed that Russia’s joining the World Trade Organization should be completed before the end of this year. This was stated by EU Trade Commissioner Catherine Ashton following a meeting with Russian Minister of Economic Development Elvira Nabiullina on the sidelines of the St. Petersburg Economic Forum. Nabiullina also commented with enthusiasm Read more
International Economic Forum will take place in St. Petersburg from 4 to 6 June. A year ago, when the economic crisis had already affected the United States and Europe, businesses still continued to call Russia a “quiet haven.” The Government in its turn had built long-term plans for the new role of Russia in the Read more
According to the stated level, China plans to increase the proportion of expenditure on scientific research work to 2.5%, increase the contribution of scientific progress in economic development more than twice and reduce dependence on imported technologies three times by 2020. One of the priorities of China is to enter the top five countries by Read more
New Russian-Ukrainian gas crisis with the EU may come up soon. The Minister of Energy of the Russian Federation Sergei Shmatko and the European Commissioner for Energy Andris Piebalgs were to meet on June 2-3 in Brussels. The agenda was all about the critical situation of the delivery of Russian gas to Ukraine. But the Read more
At the same time, the value of the securities of one of the largest glass manufacturers in Japan, Asahi Glass Co. increased by 5.35 per cent, after the analysts of several financial companies – JPMorgan Chase & Co., Mizuho Securities and Goldman Sachs – raised their recommendations on them from “neutral” to “buy” and put Read more
Chinese oil company-giant re-emerged as the largest in the world with its market capitalization. Every year in June, the newspaper The Financial Times publishes top FT 500, which is the rating of the largest capitalized companies in the world. A month before the publication of the rating, it became apparent that despite the crisis and Read more
U.S. congressional budget analysts have raised their estimate of the net cost to taxpayers for the government’s financial rescue program to $356 billion, an increase of $167 billion from earlier estimates. The Congressional Budget Office had originally projected the $700 billion Troubled Asset Relief Program would cost taxpayers $189 billion. The additional cost, which applies Read more
The price of oil has fallen by almost $2 after several days of gains following more bad economic news that dragged global stock markets lower. The price of US light crude fell by $1.95, or 3.6%, to $52.39 a barrel. London Brent oil fell $1.57 to $51.89. On Thursday, prices hit their highest level of Read more