At the end of last week, a major mining company Rio Tinto – the world’s second-largest supplier of iron ore – announced its plans to establish a joint venture (JV) with rival BHP Billiton. If the transaction receives the approval of regulatory authorities, the joint venture will control some 60% of the world market of Read more
On June 8, the mood of players in the market of European government bonds was changing during the day, which ultimately led to the formation of a mixed price movements for most of the trading session. The mood of investors was formed mainly under the influence of macroeconomic statistics in Europe. Statistics of the euro Read more
Geography offers of real estate in Thailand are closely linked with resort-beach-oriented consumer demand. More than 60% of transactions on sale of housing to foreigners accounts for the tourist capital – Pattaya. Property in Pattaya is chosen as by those buyers who intend to use their housing for a few weeks of the year, renting 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
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
Future plants of Renault (Renault) in Spain are hanging in the air after the announcement of 78% drop in profit for 2008, which amounts to € 599 million. The same uncertainty is with the group Peugeot-Citroen (Peugeot Citroen), which has lost € 343 million over the last year and reported the need to reduce 11’000 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