Russia and Venezuela signed an agreement establishing a joint bank with an authorized capital of up to 4 billion U.S. dollars some days ago. The document was signed by the outcome of the negotiations that were conducted between the Prime Minister of the Russian Federation Vladimir Putin and the Venezuelan Vice President Ramón Alonso Karrisalesa, Read more
The U.S. Congress is seriously considering that it should establish new management service rates, which are to be fees that sellers must pay to those banks that issue credit cards. In the case of this solution it will not have the best impact on banks that will receive such remuneration, transmits Reuters. Experts say that Read more
Venezuelan President Hugo Chavez hopes that the oil prices will increaseto $ 100 per barrel. Thus he has asked for help from Russia. The Venezuelan president wrote a letter to Russian President Dmitry Medvedev, which calls for “the unity of major oil-producing countries”, transmits Associated Press. According to U. Chavez, the Vice-President of Venezuela Ramon Read more
Pharmaceutical Industry of the United States is prepared to spend 80 billion dollars over 10 years for the reform of American health care, which is being developed by the administration of U.S. President Barack Obama. Democrat Senator Max Bokus has managed to negotiate with pharmaceutical associations on the bill on the reform to transfer part Read more
The day of the final payment came for ten American banks: paying 68 billion U.S. dollars, they gained freedom. Thus, returning the dept of the government financial help within the program of TARP (Troubled Asset Relief Program), these banks are again out of the United States Government control. However, there is much less pleasant news Read more
The past year was very difficult for the world financial system. Banks of most of the world’s developed and developing countries suffered huge losses, and in some cases, it took even the intervention of the authorities in order to prevent their bankruptcy and collapse of the banking system, transmits Reuters. Of course, large-scale crisis plans Read more
Construction of new homes in the United States increased by 17.2% in May 2009 – up to 532 thousand units compared with the previous month. Such data is written in the report of the Ministry of Commerce (US Department of the Treasury). Experts predicted that the value of the indicator would be at the level Read more
Commercial stockpiles of crude oil declined by 1.262 million barrels for the period from 5 to 12 June 2009 in the United States, says the report of the American Petroleum Institute (American Petroleum Institute, API). Reserves of heavy distillates grew by 881 thousand barrels. According to the report of API, oil reserves of energy in Read more
Stock trades in the United States culminated with the decline of leading indices on June 16 2009. The conflicting data of macroeconomics, as well as disappointing corporate news warn investors that the long-awaited economic recovery will not come as soon as expected. Even before the opening of the trading session, the U.S. Department of Commerce Read more
The volume of retail sales in the United States grew by 0.5% in May 2009 compared with that of April and amounted to 339.99 billion dollars. Such data was released on Thursday, June 11, by the US Department of Commerce. Analysts had expected that this figure would increase by 0.6%. In annual terms, retail sales Read more
Russian foreign trade turnover in January-April 2009 decreased by 45.3% compared to that of the same period last year and amounted to $ 124.3 billion, says the message of the Federal Customs Service. Foreign trade turnover with foreign countries amounted to $ 106.3 billion (down 45.1%), and with the CIS countries – 18 billion (down Read more
According to the press release of Ministry of Economy of Germany the German Federal Government has predicted a reduction of real GDP by an average of 6%, in its spring forecasts for the current year and expects its growth by 0.5% in 2010. “The economic recession, which is expected in the current year, for the Read more
For the first time in a long time, the balance of the world economy tends towards the East. Analytical Center of Economics and Business (CEBR), located in London, believes that even as early as in 2008, the total weight of the United States, Canada and Europe in the global GDP was less than half (49.4%), Read more