http://www.biz-day.com/bric/ Business Day BRIC Headlines en-us An important factor in Russia's economic growth last year was the unprecedented scale of investment. According to official statistics, the increase in investment in fixed assets hit a six-year high of 13.5% against 10.7% in 2005. The government views the rise as a sign of a healthy economy. Yet the country's stagnating industry makes talk of sound economic growth seem premature.'The fact that investment grew almost twice as fast as gross domestic product (up 6.7%) is really a positive... http://www.biz-day.com/read/bric/02_mar_07/g3wgp-g/how_sound_russias_economic_growth.htm The Mid-Eastern Quartet (Russia, the U.S., EU, and UN) has just held a high-level meeting in Berlin. Although many experts had called it useless before it took place, its final news conference produces a number of interesting statements.'The main point is that Arab countries will now be involved in the Quartet's efforts. The forum's host, German Foreign Minister Frank-Walter Steinmeier, said the situation had changed, and "we are finding Arab partners in Mid-Eastern settlement." He added... http://www.biz-day.com/read/bric/02_mar_07/e5wd9-8/quartet_needs_arab_help.htm On February 20, the Russian Commodities Exchange (RTS) launched trading in petrochemical futures. This is an important step in the development of oil and petrochemical exchange trading in the country. Yet it is still a long way until domestic exchanges start setting prices on Russian oil. 'Until recently, Russia did not have an oil and petrochemical exchange, although the need for one was obvious. Russia currently produces over one fourth of the world's commodities traded on exchanges, but... http://www.biz-day.com/read/bric/26_feb_07/fp9iy-u/russia_wants_influence_oil_prices.htm Private Luke Simpson, known as "Boob" to his friends, was buried in London on Wednesday. He is the 123rd British serviceman to die in Iraq since March 2003.'That same day, Prime Minister Tony Blair said that Britain would withdraw about 1,600 troops from Iraq in the coming months and might cut a further 500 from its 7,100-strong contingent by late summer if Iraqi forces can secure the country's south.'The prime minister's speech was optimistic, if not quite victorious. The goal of the... http://www.biz-day.com/read/bric/23_feb_07/fwnye-r/blair_trips_up_bush.htm The Pentagon has a whole department to supervise stabilization and humanitarian missions in the U.S. troop deployment areas.'The primary humanitarian task of a military contingent is to provide support for the supply service - international charities come next. The department also helps coordinate the work of different humanitarian missions. This actually amounts to the U.S. official concept, under which combat units receive real time information about the location of humanitarian agencies... http://www.biz-day.com/read/bric/15_feb_07/h63ex-8/how_protect_humanitarian_missions_iraq.htm Russia and China are becoming increasingly integrated into the global economy, and both have stepped up their activity sharply in Africa, Latin America and Asia in recent years, trends that are only likely to accelerate in the future.'But Russia's motives in the developing world are rather different from those of China, which explains the rather different reaction to the two countries both there and in the West.'Hu Jintao's third presidential tour of Africa last week was accompanied by... http://www.biz-day.com/read/bric/15_feb_07/e87v5-6/no_fear_of_russia_exploiting_developing_world.htm It is hardly surprising that the main headline in the Western media from President Putin's annual press conference with Russian and international journalists was his total rejection of accusations that Russia had used energy as a political weapon in its dispute with Belarus and, last year, with Ukraine and Georgia.'Let's take a closer look at Western views on Russia's energy, although as usual there was much else of interest in the three-hour question and answer session.'Writing in the... http://www.biz-day.com/read/bric/15_feb_07/iq7z3-s/russia_west_energy_question_of_double_standards.htm New ideas are well-forgotten old ones'The first satellite was launched in 1957, and the first man went into space in 1961. As soon as practical experience proved that orbital flights were possible, both the manned and unmanned space programs focused on ways of attacking the theoretical enemy's spacecraft. In fact, this became a strategic objective.'Fortunately, people have not yet fought battles in orbit; however, anti-satellite weapons have been in existence for a long time.'No... http://www.biz-day.com/read/bric/09_feb_07/jqtn4-x/oriental_satellite_killer_case_no_1_part_2.htm JAKARTA, Feb 7 (Reuters) - The U.S. embassy warned its'citizens in Indonesia on Wednesday that the country's wild and'stray cats may carry the deadly bird flu virus and should be'avoided and that care needed to be taken with pet cats.'Most known cases of humans getting the H5N1 virus have'involved contact with chickens or other infected birds. But'last month experts called for closer monitoring of other'animals after Indonesian scientists found it in cats near'poultry markets.'"There... http://www.biz-day.com/read/bric/06_feb_07/ix8k8-2/bird_flu_cats_us_warns_citizens_indonesia_threat_cats.htm The Russian car market has broken another record, reaching an all-time high of $32 billion late last year, an increase of almost 50% against 2005, according to Pricewaterhouse Coopers.'The achievements of this market are interesting not only because of its dynamics. Remarkably, last year Russians spent as much on cars as the French, outrunning Spaniards and Belgians. Yet the Russian car market is still developing. By 2010, it is expected to outrun the British and Italian markets, which are... http://www.biz-day.com/read/bric/29_jan_07/g84jy-w/foreign_cars_conquer_russia.htm ST. PETERSBURG, January 23 (RIA Novosti) - St. Petersburg's Admiralty Shipyards said Tuesday it will soon begin a final round of sea trials of a fourth-generation diesel submarine.'The construction of the Project-677, or Lada-class diesel submarine, named the St. Petersburg, began in 1997 and involved a unique design developed by the Rubin design bureau.'The submarine, whose export version is known as the Amur 1650, features a new anti-sonar coating for the hull, an extended cruising... http://www.biz-day.com/read/bric/22_jan_07/cddwn-3/project_677_submarine_set_final_sea_trials_shipyard.htm Having spent two weeks in Havana, I saw for myself what seemed quite obvious: after Fidel's departure Cuba is in for a serious change.'The Cubans themselves are well aware of this. The official slogan about the monolithic unity of Cuban society is no more than a propaganda myth. Some Cubans are looking forward to change and are already thinking of how they will adapt to the future reality, while others are sticking to their old positions and getting ready to resist change. Still others are... http://www.biz-day.com/read/bric/19_jan_07/g9fwr-6/cuba_eve_of_change.htm In recent years, Moscow has acquired the role of a delicate mediator in the Middle East. 'In June 2006, a French diplomat said in an informal conversation with a RIA Novosti commentator at an international conference, "I wish we had the same approach to the Middle East problems as Russia." 'These words, voiced by a Western diplomat, and a Frenchman at that, seemed surprising. Although Moscow and Paris were united in their opposition to Washington and London on the war in Iraq, their views... http://www.biz-day.com/read/bric/15_jan_07/imduj-c/russia_be_delicate_mediator_middle_east.htm On January 12, Russia and Belarus signed an agreement in Moscow on cooperation in oil and petrochemicals exports. The worst part of the conflict has passed, but the terms of the "truce" raise certain questions. 'The roots of the Russian-Belarusian energy confrontation lie in their completely different interpretations of the Union State. Belarusian President Alexander Lukashenko seems to believe that domestic Russian oil and gas prices should apply in his country as well. The Russian... http://www.biz-day.com/read/bric/15_jan_07/hr9ve-s/russia_belarus_crisis_settled_questions_remain.htm Cebu, Philippines. - Proposed reforms to ASEAN have a good chance of giving the organization "more teeth," said Ong Keng Yong, Secretary-General of the Association of Southeast Asian Nations, in an exclusive interview with RIA Novosti. ' 'Q.: ASEAN is not only busy with its own integration now, but it also intends to be the core of the future East Asian Summit. What kind of a community is it, if it includes New Zealand but does not include the largest East Asian nation, Russia? ' 'A.: This... http://www.biz-day.com/read/bric/09_jan_07/ckh4n-p/asean_get_more_teeth_through_streamlining_interview.htm January 1, 2007, was one year after the gas war between Russia and Ukraine broke out: the review of energy policies toward post-Soviet republics has allowed Russia to put its relations with almost all of them on a market-oriented basis. 'Paradoxically, this to a large extent helped to overcome the Russian-Ukrainian crisis, as foreign political failures of the Orange government drastically weakened its position inside the country. 'Gas supply was turned off on January 1, 2006, which came... http://www.biz-day.com/read/bric/07_jan_07/c9mhh-q/ukranian_gas_war_twelve_months_later.htm In 2006, Russia's policy in the Middle East has achieved better results than that of any other country. 'Washington, for instance, has to come up with a new strategy for the region, whereas Russian diplomats are happy to announce that they have made correct forecasts and chosen the right policy. 'Summing up the year, Russian Foreign Minister Sergei Lavrov noted that "Russia has assumed a level of responsibility in world affairs commensurate with its potential and has not shirked its... http://www.biz-day.com/read/bric/07_jan_07/dv2t5-q/moscows_banner_year_middle_east.htm The year 2006 has been better for the Russian economy than was predicted, with the last months of the year witnessing the most good news. 'According to data from the Ministry of Economic Development and Trade, Russia's GDP growth in October alone was 8.2% higher than in October 2005. 'However, this is not the only reason for optimism. Also in October, total investment in the Russian economy increased by 19.1% over the same month in 2005. The 2006 annual indicator may be 13.2% higher... http://www.biz-day.com/read/bric/07_jan_07/cw394-3/russias_economy_2006.htm Last Wednesday, Iran's parliament approved the general provisions of a bill giving the government a free hand regarding the Non-Proliferation Treaty (NPT) and the International Atomic Energy Agency (IAEA), up to and including withdrawal from the NPT and termination of IAEA membership.'This was Tehran's response to the December 23 UN Security Council resolution authorizing sanctions against it.'The resolution has backfired on Russia because the Security Council approved the Russian version... http://www.biz-day.com/read/bric/07_jan_07/hgvrt-z/iran_sanctions_backfire_russia.htm The year 2006 has been successful for the Russian stock market. With its high growth pace and rising demand for Russian assets, it is nevertheless a typical emerging market with typical problems. 'The Russian stock market has been growing at an impressive pace. The landmark Russian index, RTS, calculated from 50 stocks, grew from 1,125 to 1,852 points by December 26. This is a surge of 65%. Its capitalization soared by 92% since the beginning of the year to $940 billion in mid December.... http://www.biz-day.com/read/bric/07_jan_07/inh5g-m/russian_stock_market_becomes_more_attractive.htm MOSCOW, December 20 (RIA Novosti) - Russia's state-run oil company Rosneft [RTS: ROSN] will produce 8% more oil by the end of the year than in 2005, the company president said Tuesday.'"By the year's end, production increase will amount to 8%, compared to Russia's average production increase of 2.5%," Sergei Bogdanchikov said, adding that the company had fulfilled all commitments to its investors.'He said Rosneft plans to increase oil production by 9% in 2007 and natural gas production by... http://www.biz-day.com/read/bric/19_dec_06/fwysi-b/rosneft_boost_oil_production_8_y_o_y_2006.htm The text of the agreement singed in Belovezhskaya Pushcha in Belarus 15 'years ago, on December 8, 1991, by the leaders of three Slavic republics of 'the Soviet Union - Russia, Belarus and Ukraine - was written by Yegor 'Gaidar, whose alleged poisoning in Dublin made international news this week. 'The legal aspects of the agreement were coordinated by Sergei Shakhrai, 'who later co-authored Russia's 1993 Constitution. He argued that Russia, 'Belarus and Ukraine (disregarding the... http://www.biz-day.com/read/bric/11_dec_06/b4qyz-r/ussr_s_demise_made_russia_truly_independent.htm On December 8, it will be 65 years since Japan attacked the U.S. Pacific 'Fleet at Pearl Harbor. On September 11, it was five years since the 'destruction of the World Trade Center in New York. These dates will go down 'in history in parallel. There are many reasons for this apart from numerical 'similarity. 'For all its tragic consequences, Pearl Harbor symbolized what the United 'States regarded as the beginning of the American century" until recently. 'Before December 1941, America... http://www.biz-day.com/read/bric/11_dec_06/iwvbj-p/pearl_harbor_world_trade_center.htm No, sir." That is what former CIA Director Robert Gates said in reply to 'a question from Senator Carl Levin at a hearing before the Senate Armed 'Services Committee to consider his appointment as the next defense 'secretary. 'Gates made several shocking statements during the meeting. In particular, 'he said that the president would not have the final say at debates on 'changing the approach to the war in Iraq, and in general hinted that changes 'were imminent. 'He ruled out the... http://www.biz-day.com/read/bric/11_dec_06/z48zf-w/us_winning_iraq_no_sir.htm This week, the Russian government may consider a bill drafted by the 'Economic Development Ministry on setting up a development bank. 'If it is endorsed by the cabinet and then approved by parliament, a new 'government financial organization may appear in Russia early next year with 'an authorized capital of $2.5 billion. It will be created by the merger of 'Vnesheconombank (VEB), the Russian Bank of Development, and Roseximbank. VEB 'will play the key role in the merged entity. 'The... http://www.biz-day.com/read/bric/11_dec_06/in6v9-d/russia_set_up_development_bank.htm The Russian news and information agency RIA Novosti suggested an idea of a 'forum with the participation of the heads of national media of all 'post-Soviet countries because there is clearly a need for communication. ' 'After the Soviet Union's disintegration journalists from the former 'fraternal" republics had few opportunities to meet. Our presidents meet 'almost ten times per year, and we have gathered together once in 15 years, 'head of the Kazinfo news agency Marat Manaspayev said... http://www.biz-day.com/read/bric/11_dec_06/hqe76-7/post_soviet_media_forum.htm These are gloomy days for Russian bankers. At a recent meeting of the State Council presidium, it was announced that foreign banks account for up to 40% of all loan services provided in Russia.'Their share of the market is so high in spite of the fact that not all foreign banks that could come to Russia have done so, and those that have are allowed to operate only through subsidiaries or through Russian banks where they have bought a stake.'The concern of the Russian financial authorities... http://www.biz-day.com/read/bric/04_dec_06/egbfb-c/russian_banks_losing_out_foreigners.htm World oil prices are high and the Russian economy is oversaturated with money. Gold and foreign exchange reserves have grown by 50% since early 2006 amounting to about $270 billion and placing Russia third in the world after China and Japan. Federal budget revenues are 25% higher than planned. The Stabilization Fund in which the Russian government accumulates its surplus profits from oil exports will reach $93.3 billion by the end of the year (8.5% of the country's GDP), twice as much as the... http://www.biz-day.com/read/bric/21_nov_06/gdy98-m/high_world_oil_prices_medicine_or_poison_russia.htm The main intrigue at the Asia-Pacific Economic Cooperation forum (APEC), which ended in Hanoi on Sunday, found an expression in its final documents. ' 'One of them, called the Hanoi Action Plan, refers to APEC's initial objective, the Bogor Goals of free and open trade and investment in the region, which was formulated in Bogor, Indonesia, in 1994. ' 'The full title of the action plan, which was adopted in Hanoi without much ado or serious discussions, is "The Hanoi Plan of Action on the... http://www.biz-day.com/read/bric/21_nov_06/ivxtc-2/apec_summit_winding_road_bogor.htm Russia has scored a prestigious victory, winning a tender for the'construction of a nuclear power plant at Belene, a small Bulgarian town on'the Danube. This is a big day for Russia," said Sergei Kiriyenko, head of'the Federal Agency for Nuclear Power. Russia is returning to the European'nuclear-power construction market. This is a great event because we have not'built anything in Europe since the Soviet era, and now we're back." Given'that Bulgaria will join the European Union on... http://www.biz-day.com/read/bric/10_nov_06/cnwqc-7/russian_peaceful_atom_stages_comeback_europe.htm A founding treaty to set up the Uranium Mining Company was signed on'November 2 at Russia's Federal Agency for Nuclear Power (Rosatom). The event'marked the beginning of a new era in the Russian nuclear industry, aimed at'consolidating all the branch's uranium production assets.'The agency has proposed to invest between $60 and $70 million in the'construction of dozens of nuclear power plants by 2030. These measures and'money are expected to prevent a shortage of electric power and... http://www.biz-day.com/read/bric/10_nov_06/zapfu-v/rosatom_tackle_uranium_shortage.htm By the day of mid-term elections to the U.S. Congress, Saddam Hussein was'sentenced to capital punishment, and a new action was brought against him'there and then, as if one death sentence was not enough. But this did not'help the Republicans.'Nothing could have helped them by that time, not even if the dictator had'been hanged. America is fed up with the feelings of anger, disgust and shame'evoked by the war in Iraq, and used mid-term elections as a chance to punish'George W. Bush and... http://www.biz-day.com/read/bric/10_nov_06/zvqfy-m/america_punished_bush.htm At the end of October, Rosukrenergo AG and Ukrgazenergo signed an annex to'the treaty on purchase/sale of gas for 2006-2010 dated February 2, 2006.'Under this agreement, Ukraine will receive at least 55 billion cu m of'Central Asian gas at $130 per 1,000 cu m next year, Rosukrenergo said in a'statement. Given own production, it will fully meet Ukrainian gas demand.'"The parties have also agreed on the amount of gas to be supplied in'2008-2009. Gas prices will be based on the economy of... http://www.biz-day.com/read/bric/10_nov_06/cz6zg-e/new_russian_ukranian_gas_agreements.htm NEW DELHI - Have India and China worked out new synergies in acquiring'overseas energy assets? The fruits of such teamwork seem to be increasing.'China Petrochemical Corp, better known as Sinopec Group, is reported to be'close to signing a deal with Iran to develop the Yadavaran oilfield in the'southern area of the Middle Eastern country. Sinopec will secure a 51% stake'in Yadavaran, with India's state-owned Oil and Natural Gas Corp (ONGC)'taking a 29% interest.'A deal would not only... http://www.biz-day.com/read/bric/19_oct_06/fa5jx-8/india_china_work_out_new_energy_synergies.htm