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BRICS Mutual Trade Increased By 70% Since 2009
Trade between BRICS countries has increased 70% over the past 6 year, according to South African President Jacob Zuma, RT reports. The economies of the five BRICS nations (Brazil, Russia, India, China and South Africa) account for almost 30% of global GDP. BRICS presents an aggregate GDP exceeding $32 trillion. This marks a 60% growth since … Continue reading
Russia Ready To Build Suez Canal Industrial Zone
Russia is willing to take part in establishing an industrial zone in the New Suez Canal project, Russian PM Dmitry Medvedev told Egypt’s daily Al-Ahram. The 72-kilometer section inaugurated on Thursday in Egypt will provide the fastest Europe-Asia shipping route. Our companies are willing to participate in these economic projects. Creating a Russian industrial zone … Continue reading
Russia Submits 1.2 Million Sq Km Arctic Claim To UN … This Time Including The North Pole
“Russia made a new bid Tuesday for a huge swath of Arctic territory — including the North Pole — putting Canada in the position of potentially having to negotiate with the country to settle overlapping claims,” Montreal Gazette reports. According to the news agency: Canada, Russia, the U.S., Denmark and Norway have all been trying to … Continue reading
Sanctions Could Cost Russia 9% Of Its Economic Growth, IMF Says
By IMF Russia’s economy is expected to contract by 3.4 percent in 2015, although growth should return in 2016. Medium-term growth prospects are modest due to slow progress in implementing structural reforms, according to the IMF’s latest economic health check. The dual external shock of lower oil prices and geopolitical tensions are key factors exerting … Continue reading
Russia Reduces Key Interest Rate To 11% – The Central Bank Says Economic Growth Is A Priority
The Central Bank of Russia (CBR) has cut the key interest rate from 11.5% to 11.0% citing growth as a priority. The rate cut is already the 5th consecutive one this year. Last Friday, the Central Bank of Russia (CBR) said in a statement the following: Major macroeconomic indicators demonstrate further economy cooling. The Bank of Russia estimates GDP decrease … Continue reading
BRICS: $100 Billion Liquidity Reserve Fund Comes Into Force
“The agreement on the BRICS $100 billion currency reserve pool came into force Thursday. The fund was set up by the developing nations group to protect their national currencies from volatility in global markets,” RT reports. “The arrangement is important not only because it provides the possibility to quickly obtain additional liquidity, but its very … Continue reading
China Postpones Deal On Russia’s Alati Gas Pipeline Due To Economic Slowdown
The signing of the gas supply contract with China via the Altai pipeline, known as Power of Siberia 2, is being postponed for an indefinite period, Vedomosti newspaper reports. The Russian news agency cited two federal officials explaining that China is reviewing its energy needs due to the economic slowdown. The move is a significant blow to Russia as back … Continue reading
Russia Overtakes China As Most Attractive BRICS Country For Investment
The Russian market has replaced China to become the most attractive BRICS country for investors in 2015, according to Bloomberg. Pricier oil that has rebounded from a six-year low and easing political risks make it the best BRICS investment bet. Analysts polled by Bloomberg say Russian shares are undervalued, by up to a half compared with … Continue reading
The U.S. Has “Shot Itself In The Foot” By Pushing Russia Closer To China, Jim Rogers Says
Jim Rogers, the Chairman of Rogers Holdings and Beeland Interests, says that the United States has hurt itself and “shot itself in the foot” by pushing Russia closer towards China during an interview with Russia’s Gazeta.ru newspaper. Rogers explained that it’s only a matter of time before Russia becomes a major partner in Asia, which would mean that the … Continue reading
Lawrence Solomon: Russia’s Grentrance
Originally posted on Financial Post:
If Greece leaves the eurozone, Russia will enter it, casting a chill over Europe The world is focused on the immense implications of a Grexit, or an exit of Greece from the European Union. It might also consider the immense implications of a Grentrance, or an entrance into Greece of…
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