CBS Investment

The optimism of the global investors lasted only a few months. This week, to concerns about the global economy returned to the markets once again. Now, optimism is not enough for market participants, for positive attitudes they need economic data, confirming the end of the recession and early recovery of world economy, transmits Reuters.

However, until now there is nothing to please them with. At the beginning of the week the World Bank (WB) published another negative forecast that the world economy will decline to 2.9 per cent this year. This projection finally frustrated investors and caused a sharp decline in world stock and commodity markets.

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, when the latter visited the capital of the Russian Federation Moscow the day before the negotiations.
As Deputy Finance Minister Dmitry Pankin explained to reporters the bank will be established on the basis of Eurofinance-Mosnarbanka. Its current shareholders have agreed to assign part of their shares in favor of Venezuela.

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 as a result of that action the banks may try to separate the effects of such solutions to credit issuers, which are Visa and MasterCard. And as a result, these companies, which are the world’s largest payment systems, may suffer from much lower incomes and falling prices for their shares.

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 Karrisalesthe, arriving in Moscow on 22 June will take the message from the Russian head of state.
The export of crude oil makes 93% of the export structure of Venezuela. The drop in oil prices from their peak of $ 147 per barrel in the last year was a painful hit to the revenues of Venezuela, and also led the Russian government to redraw the budget seriously.
At the last trading session in New York crude oil futures prices for Light Sweet closed at around 69.55 U.S. $ / bbl.