Saturday, January 31, 2009
Asian countries, Japan will provide 17 billion dollars.
The Prime Minister of Japan Taro Aso to announce the decision on Saturday, January 31, during his speech at the World Economic Forum in Davos.
Press office of the Government of Japan Kazuo Kodama said the money will be spent on infrastructure development of Asian countries. This, according to Taro Aso, must stimulate domestic demand in the Asia-Pacific region. Which states can expect financial support from Japan, has not yet been clarified.
The Government of Russia will examine ways of saving gas.
According to the meeting scheduled for 3 February 2009, and it will be considered first steps to rescue a particular company. Pattern of anti-crisis support GAZ under the control of the "Russian Machines" Oleg Deripaska, the company provides credit in the amount of 1,6 billion dollars.
GAS, the results of its financial performance in 2008 has not yet been published. According to Valery pioneer, governor of the Nizhny Novgorod region, where the company of GAZ, the sale of the company over the last few months of steady decline. For example, in September last year, company revenues reached 480 million dollars, and in November - is already $ 180 million. This year, on the basis of GAZ listed only $ 20 million dividend from the provisions of 33 million.
In late December, "Russian Machines", including gas, were included in the government register of backbone enterprises of Russia, which in turn could count on the support of the authorities. Within the list, published Dec 25, 2008, included 295 companies - both public and private. Nevertheless, according to Shuvalov, the state will not be able to assist all applicants.
Russia's GDP in 2008 grew by 6 per cent.
According to the Ministry of Economy, in 2008, the year the country's GDP to shrink by 0.3 percent. Previously, the office assumed that the average oil price of 50 dollars per barrel, while Russia's GDP will grow by 2.4 percent. It was expected that the Ministry of Finance by mid-February, based on an updated assessment of the Ministry of Economic Development, recalculate the budget of Russia for 2009.
In December 2008, the Ministry admitted that GDP growth in Russia will be less than the expected 6.8 per cent, noting that Russia has already started a recession. This means that during the two consecutive quarters of decline experienced in the country's economy. Prior to December in Russia forecasts for GDP growth in 2008 has been revised. It should be noted that in October 2008 the head of the Ministry of Economic Development Elvira Nabiullina promised the president that the country's GDP will grow not less than seven per cent.
Latvian Prime cut his salary.
Press Secretary to the Prime Vaykulis Edgar told the agency that Godmanis will receive 15 per cent less - 2027 lats (about 3 thousand euros) instead of 2385. Employees of the Bureau of the annual salary reduced by approximately 20 per cent. In addition, this year is not paid vacation and bonuses.
Under the new rules, the salary of the premier adviser on EU Ilse Peterson will be 1658 lats (2,400 euros), Adviser on Finance and Economic Affairs, Armin Sprogisa - 1200 lats (about 1700 euros), Advisor on Education, Culture and Welfare Juris Schmitz - 1275 LVL (about 1800 euros), the premier advisers on foreign policy issues Vilmara Heninsha - 1530 lats (about 2200 euros).
Most innovation touches Legal Adviser Edward Ikvildsa - instead of 1800 lats he will receive a 1200 (about 1700 euros).
Previously, the decision to reduce his salary by 15 per cent took the Sejm deputies.
Usmanov had sold one of the largest gas fields in Russia.
Structures Usmanova acquired 74.9 percent of Yamal LNG, operator of South Tambeyskogo field, back in 2006, company founder Nicholas Bogacheva. The rest of the company belonged to Gazprombank. Previously, it was reported that control of the asset may purchase Gazprom.
Reserves South Tambeyskogo deposits are among the largest in the country - 1.3 trillion cubic meters. However, the development of this field is not expected before 2024.
Economic recession in the U.S. was a record for 27 years.
In general, the year the U.S. GDP grew by 1.3 per cent due to rise in first half due to rising revenues from exports and increase government spending. This is the lowest growth rate since 2001. In the first quarter growth was 0.9 percent in the second - 2,8 percent, while the third economy declined by 0,5 percent.
The fall in the fourth quarter could reach a value of 5.1 per cent, if not a substantial increase in inventory in warehouses, adding to the GDP 1.3 percentage points. The major contributors to the decline in total GDP has decline in consumer spending, which fell by 3.5 per cent, thereby adjusting the economic growth of 3 percentage points. The volume of investments fell by 20.1 percent and reduced GDP growth by 2,3 percentage points.
U.S. trade deficit in the fourth quarter declined slightly. Exports fell by 19.7 percent and import - by 15,7 per cent. Since imports were initially much more than exports, in absolute terms, its decline has been more significant. Improved trade balance added to the 0.09 percentage points of GDP. Finally, government spending grew by 1.9 per cent, and this has improved the statistics for the entire GDP to 0.4 percentage points.
U.S. GDP declined second quarter in succession, following the conditions for technical recession. Recall that the U.S. recession officially began in December 2007 as announced in December, the National Bureau of Economic Research.
Russia helps Cuba $ 20 million.
According to Vice-Premier Igor Sechin, the funds will go to fund supplies to Cuba of Russian construction, electricity and agricultural equipment. In autumn 2008, Russia has already disbursed a loan to Cuba to 335 million dollars, but, according to Sechin, almost exhausted.
In addition, in the words of Sechin, Russia could put Cuba in addition about 100 thousand tons of grain. Previously, Russia had planned to Cuba of 25 thousand tons of grain.
Sechin also said that the largest Russian air carrier Aeroflot could create with the Cuban Cubana de Aviacion joint venture. Sechin has not provided details.
In addition, it became known that Russia's Vnesheconombank goskorporatsiya Cuba opened credit lines to 44.5 million dollars to supply the aircraft Tu-204SE and related equipment for export contract between the company Aviaimport SA and OAO Ilyushin Finance Co., said VEBa.
Recall, on Wednesday, January 28, Russia at the invitation of President Dmitry Medvedev arrived Cuban leader Raul Castro. Official visit of Castro will continue until February 4. This is the first since 1985, visit of the Cuban delegation to Russia.
In 2008, a number of developing countries was on the verge of default, because of what he had to ask for loans from the more stable states or financial institutions.
Three quarters of Russian companies will not raise wages in the first half.
Thus, for example, in six of the eight surveyed pharmaceutical holdings since the beginning of the year salaries have increased on average by 25 percent, and the possible benefits of indexing key workers said several large trading companies.
In some foreign oil companies increased payments due to the fact that the company did not cancel tying wages to the dollar and euro. According to the publication, none of the foreign firms operating in Russia, does not intend to revise labor contracts, laying to the appreciation of the euro in the half. However, according to the staffing agency "Anchor," 99 percent of firms operating in Russia expect to pay in rubles.
January 27, Rosstat published data which show that in 2008 the average monthly salary of Russians in monetary terms rose by 25.2 percent compared to 2007. In doing so, real wages (that is, goods that you can buy it), increased by 9,7 percent.
Friday, January 30, 2009
Russia will accelerate the issuance of Belarus billion.
In November 2008, Russia agreed to provide Belarus stabilization loan from the two billion dollars. One of the conditions of transition to become the Russian Ruble in the payment of oil and gas. Thus, Belarus will have to buy the Russian currency to mutual with Russia. The first tranche of the loan was received by the Republic on 18 November 2008.
This loan granted for 15 years on the London interbank lending rate Libor plus three percentage points. In addition, there is a delay in repayment of principal for five years.
Meanwhile, Vladimir Putin and his Belarusian counterpart Sergei Sidorsky signed in Moscow a joint crisis plan, which, according to Sidorsky will contribute to "the preservation of the economies of both countries at the level of 2008."
The increase in the Russian economy in 2009 will be zero.
Finance Minister also added that budget revenues in 2009 will decrease from 10.9 trillion to 6.5 trillion rubles, capital outflows from Russia amount to 100-110 billion dollars, while revenues from exports will drop to $ 200 billion to 269 billion dollars. In addition, according to Kudrin, inflation this year will reach 13 percent. Last year, consumer prices rose by 13.3 per cent.
As the first vice-premier of Russia Igor Shuvalov, speaking at the "government hour" in the State Duma, the overall situation in the country's economy would be "sufficiently rigorous". World crisis may last for three years and the current will be the most difficult.
Previously, it was reported that the growth rate of Russia's GDP in 2008 due to the negative impact of the crisis fell to six per cent. A year earlier, the country's economic growth was 8.1 percent.
In the fourth quarter of last year, Russia's economic growth slowed to two per cent against 9.5 per cent in the corresponding period of 2007. According to the Minister of Economic Development of Russia Elvira Nabiullina.
Unemployment in the euro became the highest for two years.
January 19, 2009 The European Commission released a forecast of some macroeconomic indicators. According to the European regulator, the unemployment rate in the euro area this year will be 9.3 percent. In 2010 this figure will rise to 10 percent. This will be facilitated by the continuing downturn in the economy of the euro zone, caused by the global financial crisis.
According to the EU, eurozone GDP in 2009 decline by 1.9 per cent, which will be the most severe decline in the history of actions of a single European currency. Recall that the eurozone economy was in recession in 2008, when the second and third quarters of the reduction was of 0.2 per cent. According to the preliminary assessment of the European Commission, the decline in GDP in the fourth quarter of last year was 1.5 percent.
The FSC tracks the flow of funds to fight the crisis.
According to the Ministry of Finance, to address the crisis in 2008-2009 was 2.1 trillion rubles. These funds have been allocated to support the banking system and the real economy in Russia. "We need that money went to consumers and that they are spent effectively," - stressed the President.
In November 2008, President of Russia, Medvedev said that the government of Russia will allocate $ 200 billion (more than 5 trillion rubles) to support the real sector of the economy. It is expected that this will help stabilize the Russian economy in the global financial crisis.
The Russian government will formulate a plan of crisis in the coming weeks.
According to Shuvalov, Russia accumulated reserves will be sufficient to carry out anti-crisis plan. However, if prolonged recession, the government will be ready to adopt "more stringent in terms of financial decisions," said First Vice-Premier. The budget deficit in 2009 will be recalled Shuvalov, which is an unusual situation for the government. He expressed hope that in the second half of 2009 - the first half of 2010 the world economy will resume growth, leading to a recovery in prices on the main Russian export goods.
Recall, in December 2008 Decree of Prime Minister Vladimir Putin, Shuvalov was appointed Chairman of the Commission to improve the sustainability of Russia's economy. It coordinates the crisis measures taken by the Government and the Bank of Russia.
The increase in the Russian economy in 2009 will be zero.
Finance Minister also added that budget revenues in 2009 will decrease from 10.9 trillion to 6.5 trillion rubles, capital outflows from Russia amount to 100-110 billion dollars, while revenues from exports will drop to $ 200 billion to 269 billion dollars. In addition, according to Kudrin, inflation this year will reach 13 percent. Last year, consumer prices rose by 13.3 per cent.
As the first vice-premier of Russia Igor Shuvalov, speaking at the "government hour" in the State Duma, the overall situation in the country's economy would be "sufficiently rigorous". World crisis may last for three years and the current will be the most difficult.
Previously, it was reported that the growth rate of Russia's GDP in 2008 due to the negative impact of the crisis fell to six per cent. A year earlier, the country's economic growth was 8.1 percent.
In the fourth quarter of last year, Russia's economic growth slowed to two per cent against 9.5 per cent in the corresponding period of 2007. According to the Minister of Economic Development of Russia Elvira Nabiullina.
During the hot gas Ukraine will pay the market price.
According to Medvedev, for illegally selected gas can not be another price than average, said RIA Novosti. The representative of the Russian group called on the Ukrainian side to return to negotiations on the price of gas, adding that Ukraine should behave as a democratic country and not country-blackmailer, which calls the requirements of both Russia and European nations.
Remember, January 5, the company Naftogaz of Ukraine called inadequate proposed by Gazprom for natural gas price of 450 dollars per thousand cubic meters. Earlier, Ukrainian goskompaniya refused to favorable conditions for the supply of 250 dollars per thousand cubic meters, and has not accepted the proposal of the Russian group to buy gas at 418 dollars. According to Naftogaz, the optimal value of the Russian fuel will be 200-235 dollars per thousand cubic meters. In 2008, Ukraine has received a thousand cubic meters of Russian gas to 179.5 dollars.
Because the parties disagree about the procurement of fuel prices, Gazprom and Naftogaz "has still not signed a new contract on gas deliveries in 2009. As a result, from January 1, the Russian side has stopped supplying gas to Ukraine, but the transit of fuel to European consumers on the territory of Ukraine is continuing. January 4, a Russian company accused Ukraine of unauthorized gas destined to European consumers.
January 5, Ukraine banned Naftogaz "transit of Russian gas at a price of 1.6 dollars per thousand cubic meters for every 100 kilometers, and has refused to accept Gazprom's additional 15 million cubic meters of gas to European countries.
Unemployment in Zimbabwe has reached 94 percent.
Over the past five years, Zimbabwe had left about three million people who now are trying to support their friends and relatives left behind in the country, money and food. According to the UN, most of the parcels to Zimbabwe from South Africa, Botswana, Zambia, Namibia and Mozambique in 2008 were food and basic necessities. Money took third place.
The main cause of economic decline in Zimbabwe is considered to be poor policy authorities. In particular, in 2000 the authorities began to land reform, under which, the white population of the country, owning farms or land lease, should be deprived of their holdings. Land transferred for use by indigenous people of Zimbabwe and especially for the veterans of civil war in 1970.
Before land reform, agriculture formed 40 of the country's GDP, and brought 50 percent of its foreign exchange earnings. Now 80 percent of land allocated for use by indigenous people, is not used. According to some researchers, land reform has become one of the main causes of hunger and hyperinflation in Zimbabwe.
The FSC tracks the flow of funds to fight the crisis.
According to the Ministry of Finance, to address the crisis in 2008-2009 was 2.1 trillion rubles. These funds have been allocated to support the banking system and the real economy in Russia. "We need that money went to consumers and that they are spent effectively," - stressed the President.
In November 2008, President of Russia, Medvedev said that the government of Russia will allocate $ 200 billion (more than 5 trillion rubles) to support the real sector of the economy. It is expected that this will help stabilize the Russian economy in the global financial crisis.
France began massive transport strike.
The strike disrupted public transport throughout the country. In addition, because of the strikes had been closed many schools. It is estimated that trade unions, go 40 per cent of all railway workers, a third of teachers, a quarter of postal workers and 23 per cent of staff in the electricity industry.
Because of the strikes had been canceled a third of all flights in the second-largest airport of Paris Orly. The remaining flights were sent to a half delay. In Paris, worked only 75 percent of the metro and 85 percent of buses. In the Marseille subway was closed, and in Lyon - operating at half its normal capacity.
However, protests and strikes were not as extensive as expected, and the French urban transport system was not completely paralyzed.
The crisis in France led to the devastation of companies and increased unemployment. Employees fear that they will have jobs to pay for the economic recession, which they believe arose because of "greedy bankers" and the failure of the policies of market capitalism, which is supported by Sarkozy. The main requirement is to ensure the union of social protection of citizens of the state.
The Russian government will formulate a plan of crisis in the coming weeks.
According to Shuvalov, Russia accumulated reserves will be sufficient to carry out anti-crisis plan. However, if prolonged recession, the government will be ready to adopt "more stringent in terms of financial decisions," said First Vice-Premier. The budget deficit in 2009 will be recalled Shuvalov, which is an unusual situation for the government. He expressed hope that in the second half of 2009 - the first half of 2010 the world economy will resume growth, leading to a recovery in prices on the main Russian export goods.
Recall, in December 2008 Decree of Prime Minister Vladimir Putin, Shuvalov was appointed Chairman of the Commission to improve the sustainability of Russia's economy. It coordinates the crisis measures taken by the Government and the Bank of Russia.
By the end of the year in Russia will be seven million unemployed.
In doing so, the forecast for the official unemployment is 2.2 million. On 21 January in Russia were registered 1.55 million unemployed.
Earlier in January, the head of the Federal Service for Labor and Employment (Rostrud) Yuri Hertz argued that the actual number of unemployed in Russia is about six million people.
According to the Ministry of Economy, the unemployment rate in 2009 will rise to 7.5 per cent, while the total number of Russians out of work will be 5,5 million. In 2008, the same figure was 4.6 million.
January 28, with its forecast for unemployment benefits have experts the International Labor Organization (ILO). According to them, in 2008-2009 the number of unemployed worldwide could increase by 50 million people. Representatives of the ILO described the proceedings as a "crisis of the global labor market."
Thursday, January 29, 2009
OPEC has pledged a new quota reduction of oil production.
As El-Badri said at a meeting of the World Economic Forum in Davos, the specific volume reductions may be announced at a meeting of oil cartel on March 15.
C in September 2008, OPEC announced on several occasions to reduce the oil production countries participating. Total reduction amounted to 4.2 million barrels per day, whereas before the cartel in the total extracted about 31 million barrels per day. 17 December in Algiers, OPEC decided to reduce production on 2,2 million barrels.
El-Badri added that the cartel will make the price of oil above 50 dollars a barrel to ensure that participating countries have been able to obtain "decent" profit. "We are not happy with the price of 40 or even 50 dollars a barrel, - he said. - Suitable price would be in the range of 60-80 dollars."
At current prices, the States of the Organization, it would be difficult to invest in oil. They also have to terminate the appointment of highly qualified professionals. All this would mean that when the demand for oil will begin to grow, the world will face a crisis of supply.
In 2008, oil prices set a record, jumped to 147 dollars a barrel in July. However, the commodity markets began to collapse due to global economic crisis. As a result of oil price rollback by December to mark 35-40 dollars a barrel.
Putin has reduced the export duty on oil to $ 100.
The amount of the fee is calculated based on the average price of Russian oil at 40.1 dollars per barrel from 15 December to 14 January. In January, the fee rate was 119.1 dollars per ton.
Export duties the last six months, steadily declining because of falling oil prices on the world market. The maximum rate recorded in August 2008, when it stood at 495 dollars per tonne.
Oil prices have reached in July last year a record 147 dollars a barrel, then began to decline sharply. By the end of December, the price of oil fell to a five-year minimum - 33 dollar per barrel mark WTI.
Ukraine called for a reasonable price for gas.
KommentariiPodnimite them veki14.01.2009Uchastniki gas crisis entangled in mutual accusations SyuzhetyOtklyuchenie gas Ukraine13.01.2009Ukraina has blocked the transit of gas to EvropuUkraina considers reasonable price for gas in the amount of 192.6 to 218 dollars per thousand cubic meters, depending on the rate of transit. The latter can be installed in the amount of 2.2 to 2.47 dollars per thousand cubic meters per 100 kilometers. The statement was made by the Commissioner of the Ukrainian president on international energy security Bohdan Sokolovsky, Interfax reports.
Ukrainian officials explained that the Ukraine in the calculations take into account the proposed agreement, which had been achieved during the meeting of the leadership of Russia and Ukraine.
In addition, Sokolowski said that Ukraine will not renew the transit of Russian gas, has yet to be signed technology agreement. It should be defined, in what quantity and quality of gas will be submitted to the Ukrainian gas transmission system.
Unsettled the price of gas for Ukraine in 2009 was the main reason for Russian-Ukrainian gas conflict, which has led to a complete halt the transit of gas to Europe from January 7. After the Ukrainian side had refused to sign a contract on gas supplies on concessional terms (250 U.S. dollars per thousand cubic meters), Gazprom has increased the price to 450 dollars.
In turn, Ukraine considers the current low rate of gas transit to Europe, which amounts to 1.6 dollars per thousand cubic meters per 100 kilometers. Such a rate fixed by acting before the end of 2010, but Kiev court recognized in early January, the agreement illegal.
The Government of Russia reduced to zero export duty on nickel.
According to Putin, the change of export duties would have a positive effect not only the financial situation of Russian enterprises, but also help preserve jobs in the cities, where the non-ferrous metallurgy.
Russian companies felt the impact of the economic crisis in autumn 2008, when the demand for their products began to decline. As a result, some of them have been forced to reduce production and cut staff. For example, Russia's largest non-ferrous metal producer Norilsk Nickel in October sacked the Moscow office of 135 people.
In early 2009 the government of Russia has decided to lower the export duty on oil, which from 1 February 2009 will be 100.9 dollars per tonne. The size of the fee was calculated based on an average price of 40.1 dollars per barrel of Russian oil. January export duty on crude oil amounts to 119.1 dollars per tonne. Reducing the rate was due to falling oil prices.
Fees for oil falling in the second half of last year. For example, the December rate of duty was reduced from 192.1 to 119.1 dollars per tonne. For comparison, in August 2008, export duties on crude oil in excess of 495 dollars.
Consultant "Naftogaz" described the talks with Moscow.
According to Bacai in December 2008, Chairman of the Board of Naftogaz and Gazprom, Oleg Dubina and Alexei Miller held talks on the technical details of the upcoming gas contract. The Russian company was ready to give Ukraine an installment on the debt of 2,4 billion dollars, and sell gas at a price of 235 dollars per thousand cubic meters. In such circumstances, insisted Naftogaz. "
Everything else has gone, when the negotiation process involved Yushchenko stated that Ukraine is ready to fully meet its debts, and from 1 January 2009 to move to a European price for gas. In doing so, Yushchenko called on Gazprom to show prices in European contracts. According to "Vedomosti" Bakay, the Ukrainian president was confident that the Russian gas company sells gas to Europe at 250 dollars per thousand cubic meters, which means the cost of fuel for Ukraine should be less than 200 dollars.
Ten-year contract for the supply and transit of gas was signed between Naftogaz and Gazprom "19 January 2009. According to the document, Ukraine will buy fuel at a price of 450 dollars per thousand cubic meters. The cost will be adjusted every quarter depending on the price of heating oil and diesel fuel. During 2009, Ukraine will be a 20 percent discount.
The volume of fuel supplies to Ukraine in 2009 will be 40 billion cubic meters, and from 2010 - 52 billion cubic meters. This gas transit through Ukrainian territory will be 110 billion cubic meters a year, a preferential rate of transit in 2009 will be equal to 1.7 dollars per thousand cubic meters per 100 kilometers. Since 2010, the rate will be increased to 2.04 dollars per thousand cubic meters and will be indexed for inflation, the European.
Ihor Bakay from 1998 till 2000 served as chairman of the Ukrainian Naftogaz, and from 1997 till 2000 - served as adviser to the president. In 1998, elected in the Verkhovna Rada. From October 2003 to December 2004 on Bakai headed the State Office of the President of Ukraine.
The Ministry of Finance of Ukraine denies authorship dokladnoy the near collapse of the economy.
According to the document, "the Minister of Finance of Ukraine did not write any notes dokladnyh secret government", but the mere fact of publishing a document circulated to the press service of the statement described as "falsified provocation."
At the same time, the Government and the Ministry of Finance of Ukraine appealed to the local media with an unusual request to "withdraw" materials about the "secret dokladnoy" and refrain from provocative publications on this topic.
Meanwhile, according to the "Ukrainian Truth", January 28, Pinzenik not present at the Cabinet meeting, even before it began leaving the building, accompanied by government guards.
The first vice-premier of Ukraine Alexander Turchinov stated that the head of the Ministry of Finance is in the hospital.
January 27, in the Ukrainian media was scanned copy of the letter entitled "On the development of the critical economic situation in Ukraine and the State Budget of 2009." The paper addressed to the premier and members of the government, printed on letterhead and signed by the Ministry of Finance reportedly Pinzenik was written, that Ukraine is on the verge of complete economic collapse, which avoided most likely will not succeed.
Thus, the situation in the country was called the "worst in the world," stated the reduction of industrial production in the third ambulance predicted loss of control over the situation in the country and the paralysis of government institutions.
At the same sources "Economic truth" claimed that Prime Minister Yulia Tymoshenko, read the letter Pinzenik first forbade him to show the document to members of other government and demanded that it will not disclose its contents. But the minister, wrote the publication, still presented the report of President Viktor Yushchenko.
Inflation in Russia since the beginning of the year was two per cent.
During the week from 20 to 26 January, became the most sugar and black tea, add in the price of 6,5 and 1,2 percent respectively. Prices for frozen fish, canned meat, rice and salt increased by 0,5-0,7 percent. Fruit and vegetables went up by 1.3 per cent, butter - by 0.2 percent, milk - by 0.1 percent. The prices of rye bread has not changed, while wheat declined by 0.4 percent. Eggs and sunflower oil is also cheaper. Falling prices for these products amounted to 1,3 and 0,8 per cent.
Gasoline and diesel fuel cheaper at 0.7 percent. Over the past week was marked by a rapid increase in utility costs. Thus, the price of water in cold water increased by 8.2 per cent, hot water - by 6.6 percent on heating - 5.5 per cent. Payment for housing and electricity rose by 3.1 and 2 percent respectively.
According to the Ministry of Economic Development, promulgated on January 23, 2009, an increase in consumer prices in January 2009 will be about two percent. However, the agency said that in the current month producer prices drop. At the end of 2009 expected inflation in the 10-12 per cent, while the Minister of Finance Alexei Kudrin, the growth of consumer prices was 13 per cent. For comparison, in 2008 inflation in Russia amounted to 13.3 percent.
The lower house of Congress approved the crisis plan Obama.
According to the data, which publishes 244 representatives endorsed intsiativu proposed new administration of U.S. President Barack Obama, while 188 delegates were opposed. All of the Republicans, represented in the lower house of Congress, the plan refused to endorse Obama, said CNN.
Now, in accordance with American law, the draft of the allocation of such funds will be sent to the Senate, where he decided his fate. The bill, the Democrats hope can get to the signature of the President Obame already by mid-February.
The plan to stimulate the U.S. economy had been proposed by the Democrats two weeks ago. Of the 819 billion provided by the sponsors of the plan, 544 billion will be spent on direct investment in the economy, and the remaining 275 will go for tax breaks.
Note that the initial budget for the program, introduced in the lower house of Congress, was 825 billion dollars, but the House of Representatives for six billion to reduce the size of public investment. However, when considering the final budget in the Senate, "Obama plan" may rise to 887 billion dollars since the day before it became known that the Senate Committee on Finance intends to significantly increase the amount of tax deductions.
The number of unemployed worldwide could increase by 50 million people.
However, this pessimistic outlook, which is calculated based on the assumption that the economic situation in the world economy does not improve. In the ILO report states that the number of unemployed by the end of 2009 will increase by an average of 18-30 million.
The total number of unemployed people in the world will grow to 198 million people (up to 230 million in the worst possible scenarios). In 2007, the total number of unemployed is not greater than 179 million people, said France Presse.
In doing so, 45 per cent of the total working population, or 1.4 billion people, will not be able to earn more than $ 2 per day for each member of his family.
It should be noted that according to the Russian Ministry of Economic Development, in 2009 the number of unemployed Russians, including the officially reported to increase from 4,6 to 5,6 million.
Belarus has requested a billion dollars from the World Bank.
According Prokopovich, in the initial stage of negotiations to bring the loan from the European Bank for Reconstruction and Development (EBRD). If successful negotiation resources of the Bank may proceed to the republic in July 2009. In addition, Belarus, and expects to receive loan funds directly from Europe.
In early January, the International Monetary Fund has provided loans to Belarus, 2.5 billion dollars to implement 15-month program of reforms, with the first tranche of $ 788 million dollars has already arrived in the country. In addition, the state received a loan from Russia for $ 2 billion, and Venezuela at $ 500 million.
Credit IMF resources available to support the Belarusian foreign reserves, which declined for the year 2008 to 1,3 billion dollars. This was due to the need to maintain the rate of the Belarusian ruble to foreign currencies.
Russia will forgive the debt of Kyrgyzstan, in exchange for shares of the producer torpedoes.
If you cancel the debt of Russia also expects to open in Bishkek on its cultural center. During the talks, also discussed the provision of grant assistance to Kyrgyzstan a grant for $ 150 million and soft loan of 300 million dollars. On results of negotiations on this subject has not yet been reported
Plant "Dastan" Bishkek - one of the largest manufacturers of marine weapons in the former Soviet Union. The company developed and supplied by the Soviet Navy and Russia samples torpedo weapons, dozens of different types of homing systems, nekontaktnyh fuses, telecontrol systems and non-standard test equipment to them. In addition to military production, the plant manufactures portable and fixed medical centrifuges.
The IMF promised the banks two trillion dollars of losses.
Height loss, in turn, could lead to a further slowdown in global growth. According to the IMF, global GDP in 2009 will grow by only 0.5 per cent, which is the worst figure since the Second World War. At the same time the economy of virtually all developed countries will decline. The worst results, according to IMF forecasts, will demonstrate the UK, where the GDP will decrease by 2.8 percent.
Now the total amount of write-offs of assets as a result of the crisis has reached 1.1 trillion dollars. Initially, the losses were linked to U.S. mortgage securities, but then spread as other U.S. financial instruments, and on loans and derivatives worldwide.
The result of the unprecedented scale of the losses has been the collapse of the bank Lehman Brothers, as well as partial or total nationalization of leading financial institutions such as AIG, Hypo Real Estate, Northern Rock, Royal Bank of Scotland and many others.
According to the economist Nuriela Rubin, the total losses for banks worldwide as a result of the crisis could reach 3.6 trillion dollars.
Wednesday, January 28, 2009
The IMF predicted the global economy to return to the Second World War.
The forecast for economic growth of developed countries have also been downgraded. The IMF expects the GDP this year will decline by an average of two per cent. For example, the UK GDP will decrease by 2.8 per cent, euro - 2 per cent, the U.S. - at 1.6 percent, and Japan - to 2.6 percent. In addition, the growth rate of the economies of developing countries will slow, with 6.25 percent in 2008 to 3.25 percent in 2009-m.
The reason for the revision of forecasts is to improve the impact of the global financial crisis on the economies of many countries in the world, which in turn led to a sharp decline in international trade.
Along with the announcement of the forecast for global economic growth IMF Managing Director Dominique Strauss-Kahn said that most of the funds planned for the issuance of loans to crisis-affected countries, could be spent before the end of 2009. Now, the IMF is about 350 billion dollars.
In 2008, the IMF crisis loans were Serbia, Latvia, Iceland, Pakistan, Ukraine and Hungary. In total, countries were given more than $ 50 billion. Now the IMF is considering providing funds and other nations of Europe and Asia.
In order to assist countries with economies in transition and the poorest nations of the world cope with the global financial crisis, the IMF requires additional $ 150 billion. This January 12, 2009 the head of the IMF. Should the IMF get the money, the total amount of money at his disposal will be approximately $ 500 billion. As a potential donor IMF called China and Japan. The latter is considering the possibility of fund of $ 100 billion.
The development of the Kyrgyz Republic will need $ 8 billion.
According to the Minister of Economic Development and Trade of Kyrgyzstan Akylbek Zhaparova, part of the implementation of the strategy will be allocated from the state budget (4.8 billion dollars), while the remaining funds will provide the private sector (2.8 billion dollars) and international financial institutions (600 million dollars) .
The paper provides several scenarios for the situation in the Belarusian economy, which indicated the growth of GDP of at least 2.8 percent a year and a maximum - at 7-7,5 percent.
Now the Ministry of Finance Russia considers possibility of granting credit Kyrgyzia a $ 2 billion for a period of 40 years under the rate of 0,7 per cent a year.
GDP growth in Kyrgyzstan in 2008 was 6 percent, while inflation in the country by the end of the year amounted to 22,5 percent. Income of the country's budget in 2008 amounted to 1,17 billion dollars, and expenditures - 1,2 billion. According to the CIA Factbook, the country's external debt at June 2007 stood at 3 billion dollars.
The budget deficit of Germany beat the record of 1996.
Map of Germany support the economy 50 billion euros has been agreed by the Government on 13 January 2009. Its effect is calculated for the next two years. The developed measures include reducing the tax burden on companies and individuals, as well as increased investment in the development of the country's infrastructure. As expected, the tax cuts would be sent to 9 billion euros, and for infrastructure projects - about 18 billion euros.
In November 2008, the German Government has approved the provision of the financial sector from 470 billion euros. This volume gospomoschi has become the largest since the end of World War II. Of this amount about 70 billion euros have been directed at increasing the liquidity of commercial and state banks. The remaining funds in the next two years will be aimed at providing gosgaranty in the market of interbank lending.
The economy of Spain has entered into recession for the first time since 1993.
According to the Government of Spain, the country's economy in 2009 will continue to decline under the influence of the global financial crisis. As expected, the reduction of GDP by the end of the year will be 1.6 percent. Earlier, the Spanish Government expected decrease economy by one percent.
At the same time in Spain is increasing unemployment, which in the fourth quarter of 2008 amounted to 13.91 per cent. Previous quarter the number of officially registered unemployed in the country has reached 11.33 percent, which was the highest in the European Union. The Spanish Government expects that the outcome of 2009, unemployment reached 15.9 percent. The European Commission predicts the increase in the number of unemployed people in Spain in 2010 to 18,7 percent.
According to the EU, eurozone GDP in 2009 decline by 1.9 per cent, which will be the most severe decline in the history of the European currency zone. At the end of last year, the European regulator is expected that this year, eurozone GDP to grow by 0.1 percent.
The euro-zone economy is in recession in 2008. The decrease in GDP in the second and third quarter of last year amounted to 0.2 per cent and the preliminary evaluation of the European Commission, in the fourth quarter the economy declined by 1.5 percent.
He started the World Economic Forum in Davos.
The main theme of the forum will become a world financial crisis and recession, which has already entered the world, including U.S. and Japan. Under the slogan event, participants will be required to discuss the formation of post-World ( "Shaping the Post-Crisis World").
Planned that the formal part of the forum will open the opening speech, Prime Minister of Russia Vladimir Putin and Head of the Government of China Wen Jiabao. The Forum will visit the British and Japanese prime ministers Gordon Brown and Taro Aso, as well as German Chancellor Angela Merkel.
This forum should be the most representative of its history. Participation in the event will be nearly 1600 business people and 41 head of the rank of president or prime minister.
In 2007, the Forum took place from 23 to 27 January. The head of the Russian delegation was the Deputy Prime Minister and Finance Minister Alexei Kudrin.
Ministry has not accepted the concept of the development of digital television in Russia.
According to a source of Kommersant at the Ministry of Communications and Mass Communications, the project was returned for revision 16 January, but after minor amendments after a day was again sent to the Ministry of Economic Development. Also, the source of the publication stresses that the fundamental differences between the agencies on the project no.
According to Kommersant, the Ministry of Economic Development to agree on the final concept of the development of digital broadcasting in the Russian Federation on 2009-2015 years "before the end of the week. For the Government it will be introduced in February.
Program "Development of digital broadcasting in the Russian Federation on 2009-2015 years" to Russia's transition to digital broadcasting by 2015. The realization of this project is planned to spend 127.3 billion rubles. Of these, 80.1 billion rubles will be allocated from the federal budget, 1.13 billion rubles - from the regional budgets. Another 46.08 billion rubles are planned to attract extra-budgetary sources.
Hungary has resumed gas supplies to the Balkans.
Austria, for its part, said in Hungary about sending 5.9 million cubic meters of gas. Of that amount, according to AFP, 4 million cubic meters designed specifically for Hungary.
The remaining gas will be sent to Serbia (1.2 million cubic meters) and in Bosnia and Herzegovina (700 thousand cubic meters). Recall that the Balkan States to be more affected by the termination of supplies of Russian gas through Ukraine.
Earlier, Hungary and Germany, which, in spite of the gas dispute between Moscow and Kiev have continued to receive Russian gas via Belarus, have pledged to work together to ensure Bosnia and Herzegovina and Serbia gas.
Meanwhile, January 12, the Russian Federation and Ukraine, with the active mediation of the EU signed a protocol on the resumption of supplies of Russian gas through Ukrainian territory. He states that follow the arrival and passage of gas through Ukraine to be independent experts from the European Union. According to Gazprom, supplies have resumed on 13 January.
The negotiations of representatives of Gazprom, Naftogaz and the EU lifted.
In turn, the Russian company stressed that such a meeting and not planned. According to RIA Novosti, now being held in Brussels just a few meetings. First, Oleg Dubina in the European Parliament took part in the hearings on the gas. Secondly, Alexei Miller, chairman holds talks with European Commission President José Manuel Barroso.
The morning of January 8, it was reported that Miller and Dubina arrived in Brussels from Moscow, where they spent the night talks that yielded no results. The supply of gas through Ukraine to Europe has not yet been restored.
Recall that Russia has stopped fuel supply to Ukraine, saying that the fact that Naftogaz "takes the gas to be delivered to Europe, and blocked lines, following in Europe. In turn, Naftogaz "to note that doing so could not, because the checkpoints, which are responsible for the termination of supplies are on the territory of Russia.
From the conflict in Russia and Ukraine has already affected many countries in Europe. In some, such as in Romania, even the state of emergency, as well as gas reserves in the country last for 60-80 days.
The State Duma has decided to take control of crisis governmental action.
The document resulted from the parameters of such a report. In particular, it should contain information on the volume of used vehicles, their distribution among firms and regions. It is anticipated that the Government will report on the activities and goskorporatsii EBV, which is one of the main distributor of budget funds. This will be announced before sensitive information, for example, a list of companies that have received money in VEBe to repay foreign loans.
Vedomosti writes that if the bill is passed in the first quarter of 2009, the first report must be submitted to the Government by 30 April. The latest report will need to submit before the end of January 2010. The validity of the law restricted the year 2009, but the project may be extended.
Now MPs have the opportunity to inquire about government anti-crisis measures in the government clock. In addition, at the end of March - early April, planned the first annual report to the Government before the State Duma. Government Accountability Act, the State Duma adopted in late 2008 on the initiative of Russian President Dmitry Medvedev.
The crisis has suspended the privatization in Russia.
Head Rosimuschestva stressed that such a decision has not he, as Minister of Economic Development Elvira Nabiullina.
In mid-2008, it was reported that the state plans to obtain from the privatization of federal property in 2009, 12 billion rubles. However, in private hands should go public stakes in 324 joint stock companies. In addition, the Government was committed to sales and then to privatize 239 FGUPov. In 2008, revenues were up to 12 billion rubles.
Petrov also said that on the basis of 2008, the government may decide to lower the volume of dividends goskompany. This could lead to a reduction in revenues from the activities of the organizations with the participation of the state. According to Smith, in 2008, the proceeds of such dividend should amount to about 80 million dollars.
Contingency fund Russia has grown since the beginning of the year at 600 billion rubles.
Kudrin added that the Fund's national well-being (FNB) is now more than 2.6 trillion rubles. In early December, the volume of the fund stood at 2.1 trillion rubles. In dollar terms in both the national fund is 210-215 billion.
According to Kudrin, the increase of the Reserve Fund is linked to changes in the ruble. The fund placed in the Ministry of Finance mainly in dollars, euros and British pounds sterling, but over the past few months, Central Bank gradually devalviroval the ruble against the dollar and euro.
Until February 2008 in Russia, there was a single State Stabilization, which was then divided into the Reserve Fund and the FNB. Funds are replenished by the additional revenue from high oil and gas prices on world markets. In February last year, the Reserve Fund was 3.05 trillion rubles, while FNB - 783 billion rubles. It was expected that part of the funds in 2009 will be put to combat the negative effects of the global financial crisis, in particular to cover the budget deficit.
The EU saw a threat to Russian gas pipelines Nabucco.
According to Topolaneka, are urgently needed to move the project Nabucco c dead center to reduce the dependence of EU gas supplies from Russia. But he said that this project is not antirossiyskim. "There is no antagonism. We do not want to build the Nabucco against anybody. We want it for themselves", - underlined the Czech prime minister.
Nabucco gas pipeline to supply Europe with gas from the Caspian Sea region and Central Asia. Its throughput capacity is planned to reach 30 billion cubic meters per year, representing about 5 percent of total gas consumption in Europe. The main difficulty of the project is that so far not been able to find a state that would allow downloading the pipeline. Exporters from Central Asia to work with Russia and China, trade relations with Iran are limited by international sanctions, and the capacity of Azerbaijan to the full load is not enough.
Meanwhile, Bulgaria has decided to waive part of Russian gas to Azerbaijan, said in an official communication from the Government of Balkan countries. The talks between the Prime Minister of Bulgaria Sergey Stanishev and President Ilham Aliyev of Azerbaijan on gas deliveries in the amount of one billion cubic meters a year starting next week. In doing so, the supply could start as early as 2010. Thus, Bulgaria will be able to replace about 30 percent of its imports, which is now fully account for Russia. In parallel, Aliyev said that Azerbaijan can take part in the Nabucco, if the proposed European price for gas from the country arrange Baku.
Bulgaria has become one of the countries affected by the Russian-Ukrainian conflict over gas supplies and transit. Deliveries of gas to Europe from Russia through Ukraine were totally stopped on 7 January, after which the fuel does not reach consumers as early as two weeks.
According to the plan of "Southern stream", which runs under the Black Sea and the territory of the Balkan countries in Central and Southern Europe, it will be gradually introduced into service in the years 2015-2024. The carrying capacity of the pipe is estimated at 31 billion cubic meters a year. As for the "Nord Stream", with capacity of over 27 billion cubic meters a year, it can be launched in October 2011.
Tuesday, January 27, 2009
Nearly half of Russians razglyadela the crisis in the Russian economy.
According to the latest figures VTsIOM, discussing the financial crisis 76 percent of Russians. In doing so, 16 percent of respondents believe that the primary cause of the crisis is unreasonable economic and social policies of world powers. The main victims of the financial crisis, 37 percent of Russians believe the United States and Russia - 34 percent. In the December 2008 vote in favor of the U.S. lost 47 per cent, while Russia - 27 percent.
In the financial crisis would last long, confident 33 percent of Russians, while in November last year, these optimists were 43 per cent. In doing so, 54 percent of those surveyed believe that the crisis is prolonged, and looks forward to its early end should not be. 48 percent of Russians said VTsIOM, which has not yet been no positive changes in the economy.
Since December 2008 the proportion of those who did not know anything about the crisis plan of the Russian government, has fallen from 56 to 53 percent. In doing so, 11 percent of respondents believed that it was quite adequate, while 27 percent believe that government is not yet time to review the plan will have to confront the crisis.
Belarusians have proposed to guess the price for Russian gas.
For Zimovsky calculations suggested a formula that was used in determining the market price for Russian gas for Ukraine. The formula that takes into account the cost of oil on world markets, has been included in the contract, Gazprom and Naftogaz, published "Ukrainska Pravda."
As head of BT awards offered a free annual subscription to Platts Oilgram Price Report - a daily record of changes in international prices for petroleum and petroleum products (in that Russian-Ukrainian treaty are encouraged to use the data from this report in determining the price of formula).
In order to win the contest Zimovsky, it is necessary to determine the price of gas for Belarus, as well as the cost of transit of gas to an accuracy of up to two decimal places. Responses are invited to send in the week. The prize will be awarded to the winner after the publication of the gas contract between Belarus and Russia.
Recall that on the principles of gas supply to the presidents of Russia and Belarus agreed in late December. Since then, Alexander Lukashenko said that during 2009, Russian gas for Belarus podesheveet several times. At the end of January 2009, Vice-Premier Alexander Kobyakov speculated that the average price of gas will be about 148 dollars per thousand cubic meters. On the Russian side, the cost of fuel in the first quarter of 2009 has not yet been announced.
In the media have repeatedly suggested that the price of Russian gas for Belarus could affect those or other political steps Belarusian authorities, in particular, the consent (or not) to recognize the independence of Abkhazia and South Ossetia.
The European Bank for Reconstruction and Development has promised Russia GDP growth in 2009.
It is noteworthy that, according to the Russian Ministry of Economic Development, in 2009 Russia's economy to shrink by 0,2-0,3 percent. Earlier in the Ministry believed that Russia's GDP in 2009 to grow by 2.4 per cent, despite the global financial crisis. Thus, the revised forecast of Russian officials was pessimistic projections made by European experts.
In mid-January, Prime Minister of Russia Vladimir Putin has instructed relevant authorities to change the parameters of a three-year budget for the 2009-2011 year, based on new macroeconomic projections. The government believes that in 2009 oil will cost 41 dollars per barrel, not $ 95 as budgeted.
According to the source Interfax in Rosstat, Russia's GDP grew for the year 2008 to six percent. Official data Statistical Office has not yet been submitted.
Putin proposed to create a gas consortium of Europe.
According to RIA Novosti, Putin proposed to create an international consortium that will acquire the "Gazprom" necessary for the resumption of transit fuel.
The head of Eni, for its part, supported the proposal, describing it as constructive. He promised that, together with his colleagues will start to consider the possibility of creating such a consortium. "This must be done quickly," - added Skaroni.
Previously, Russia has asked Ukraine to send her 1,7 billion cubic meters gas for the transit of gas to Europe. In Gazprom rejected the request.
Deliveries of gas to Europe ended on 7 January, after Russia accused Kiev of stealing transit fuel destined for Europeans. Fuel from Russia have lost more than 18 EU countries. Ukraine itself does not receive Russian gas from January 1, because the parties were unable to agree on the conditions of supply.
On January 17 in Moscow, scheduled the summit to resolve the gas crisis, which will bring together representatives from Russia, Ukraine and the EU.
Moldova will join the gas talks in Moscow.
The fact that the prime ministers of Bulgaria and Slovakia, Robert Fico and Sergey Stanishev will visit Moscow on a visit, it was reported the day before, on 13 January. The announcement of their meeting with Vladimir Putin, was followed after it became clear that Russian gas can not come to Europe because Ukraine does not allow him into their territory.
Moldova, Slovakia and Bulgaria - countries that have suffered from the termination of the transit of Russian gas is hardly more than other European nations. This is because in these countries because of geographical position, can not diversify the supply of fuel, and their economies are heavily dependent on gas.
January 14, also became known that Gazprom continues to keep the pressure in the pipe at gazoizmeritelnoy export station Sudzha. This writes the newspaper Vedomosti. As soon as Ukraine opens a valve to start gas transported to Europe.
Previously, it was reported that Gazprom filed a request for transit of gas to gazoizmeritelnuyu station Uzhgorod. This fuel must go to Slovakia. However, Naftogaz of Ukraine on January 14 stated that they did not receive the applications by Gazprom.
Russia stopped supplying gas to Europe through Ukraine on January 7, blaming "Naftogaz" in the theft of fuel. January 13, Gazprom restored transit as well as the parties have agreed that the transport of fuel will be an international commission. Nevertheless, the Ukrainian side has not been able to take Russian gas, accusing Gazprom that he deliberately made impossible conditions for transit.
Investment in developing countries declined in 2009 for the third.
According to financial analyst WB Mansour Daylami (Mansoor Dailami), which leads the publication, the reduction in investment is due to global recession. Because of its transnational corporations, including steel and automotive industries will be forced to reduce investments in the development of their own businesses.
In 2008, the volume of foreign investment in developing countries declined by about 10 percent, said the UN in its forecast for the world economy in 2009. In 2007, however, investments in emerging markets, according to the World Bank, have grown up to a trillion dollars. Compared with 2002, investment increased almost six-fold.
Earlier, experts from the World Bank predicted that this year the volume of investments in the third world will be reduced to 200 billion dollars.
According to the WB, the volume of world trade this year is also reduced. This is the first time since 1982, said the organization.
Tymoshenko promised uninterrupted gas transit to Europe.
Under the agreement Russia and Ukraine, in 2009, the latter will buy Russian gas from 20 per cent discount from the price at which it sold in Europe. In the first quarter of the cost of fuel for the Ukrainian side will be 360 dollars per thousand cubic meters. January 20, Tymoshenko said that the average price for imported gas in the current year amount to 228.8 dollars per thousand cubic meters.
Tymoshenko added that the cost of process gas, Ukraine needed to maintain the pressure in the transmission system and the transit in 2009 will be 153.9 dollars per thousand cubic meters. The cost of fuel in the transit of Ukrainian territory for the current year will remain at the level of last year and will amount to 1.7 dollars per thousand cubic meters for transportation of one hundred kilometers. In 2010, according to Vice Chairman of the Board of Gazprom Alexander Medvedev, the transit rate increase by about 2.5 to the dollar.
Medvedev also mentioned that the "daughter" of the group of Russian company Gazprom sales Ukraine ", will receive up to 25 percent of the domestic Ukrainian market. "Gazprom sales Ukraine" was established in April 2008 and became the supplier of the gas industry in Ukraine.
Recall from the fact that Ukraine and Russia could not agree on the purchase prices for Russian oil, "Gazprom" on 1 January stopped gas deliveries to Ukrainian consumers. January 7, the Russian side to stop the transit of gas through Ukraine to the EU, accusing "Naftogaz" to illegal tapping of fuel. After a two-week break in transit gas supplies were restored Gazprom on 20 January.
January 20, Alexander Medvedev said that the Russian company reserves the right to demand compensation for damages caused by the halt in gas supplies. "With regard to the previous situation, unauthorized Gas recorded. We reserve the right to claim damages in accordance with contracts," - Medvedev added. Previously, it was reported that Gazprom by 14 January to assess their losses 1,1-1,2 billion dollars.
State defense order for the next three years amount to 4 trillion rubles.
He said that 1 trillion rubles will be public investment in mass production of arms and military equipment. In 2009, that figure increased compared to 2008 in 1,6 times.
In addition, Putilin said that in the next three years, Russia will adopt a more than 400 samples of technology. In particular, troops will receive 70 strategic missiles, 30 missiles Iskander, 48 combat aircraft, 60 helicopters, 14 ships, 300 tanks, six unmanned vehicles and more than 2 thousand vehicles.
 This was the first state defense order, which formed not the Ministry of Economic Development, and the military-industrial commission.
Earlier, Vice-Premier Sergei Ivanov said that the state defense order for 2009 is planned at a total cost of 1.3 trillion rubles. He also noted that the MIC businesses fail in the implementation of state defense order, due to staffing crisis and low productivity. In addition, he said, some companies overstate the value of their services.
The European Central Bank reduced the base rate in the euro zone.
In December 2008, the ECB cut rates in the euro zone to 2.5 percent annually, which was the strongest rate of decrease over the past ten years. This is necessary to stimulate the growth of the euro, which on the basis of the third quarter of 2008 entered into recession. Even in summer 2008, the ECB rate was set at 4.25 percent.
With the change rate monetary authorities in different countries may have an impact on certain economic indicators, including inflation. In recent months, many countries have felt the slowdown in the economy due to the global financial crisis, lowered interest rates.
Chavez announced plans for OPEC to further reduce oil production.
By this measure, according to Chavez, OPEC is going to resort to prevent a sharp decline in oil prices. If the decision to lower the production will be taken, Venezuela, an OPEC member, is ready to comply with it, said Chavez radiovystuplenii broadcast was aired on Monday.
C in September 2008, OPEC has reduced in several stages in the extraction of 4.2 million barrels a day. Venezuela during this period of time has reduced production on 189 thousand barrels per day. At the end of January 2009, Venezuela produces daily 2.4 million barrels.
On Monday, world oil prices have shown sharp rise on Friday, has declined, reports AFP.
Thus, at the stock exchange in London, Brent barrel mark on Jan. 26 dropped in price by 82 cents to 47.55 dollars. In New York on Monday, WTI crude oil cost 45.73 dollars per barrel, which is 74 cents lower than the bid on Friday, January 23.
Poland again complained to the shortage of Russian gas.
January 23, 2009 Chairman of the Board of Gazprom Alexei Miller said that the insufficient supply of Russian gas to Poland are linked to the activities of intermediary - RosUkrEnergo. January 22, first became aware that Poland received only half of it to put the Russian gas. Missing 7 million cubic meters of gas a day, she has received through the high point on the Polish-Belarusian border.
Gazprom owns 50 percent of the shares in RosUkrEnergo, while the remaining 50 per cent - Ukrainian businessmen, including Dmitry Firtash. According to agreements reached between Russia and Ukraine in mid-January 2009, the company has been excluded from the scheme of Russian gas supplies to the Ukrainian side. Nevertheless, these agreements do not relate to export supplies of RosUkrEnergo.
Remember, until 2009 RosUkrEnergo buy Gazprom 60 billion cubic meters of gas a year. Since then, about 50 billion cubic meters of gas pereprodavalis Naftogaz of Ukraine, and the remaining quantities exported to some European countries. "Naftogaz" to pay for the purchased gas from RosUkrEnergo, a RosUkrEnergo - to Gazprom.
Monday, January 26, 2009
The Prime Minister of the Czech Republic has promised European gas 36 hours.
In Naftogaz also confirmed that Europe can receive Russian gas after 36 hours, stressing that at this moment the Ukrainian gas transmission system is ready to receive fuel from Russia.
At the same time, the Prime Minister of Ukraine Yulia Tymoshenko, the transit of commodities through Ukraine to Europe will be at the expense of Russian technological gas prices in 2008, the use of which would be paid for the Ukrainian side, after the conclusion of appropriate agreements with Russia. "Technology is included in the price of gas transit. Is still the old price of the transit and the old price of gas. Once the agreements, Ukraine pay for gas technology," - said Tymoshenko. In addition, the Ukrainian Premier stressed that Ukraine will start transporting Russian gas to Europe as soon as Russia resumes supplies.
Earlier in the night on Sunday signed a protocol on the establishment of an international commission to monitor the transit of Russian gas to Europe. Russia and the EU signed the protocol as early as Saturday.
Remember, Russia suspended gas supply to Ukraine on January 7, and shortly thereafter, without the fuel remained a number of EU countries.
Rada found a way to dismiss the head of the National Bank against the wishes of Yushchenko.
As the RBC-Ukraine, sponsors of the draft regulations are deputies from BYuT Poluneev Yuri, Yuri Tryndyuk and Oleg Lyashko, as well as from the bloc, Our Ukraine - People's Self-Defense Sergei Harovsky Alexander Klimenko.
The document was registered at a time when the Ukrainian parliament is discussing the outcome of the current leadership of the National Bank of Ukraine and its leader - Volodymyr Stelmakh, whose work in that position in recent months caused a barrage of criticism of the Ukrainian society. The frustration of his work was due to a sharp rise in the course hryvnia.
Against that Stelmakh continued to occupy the post of head of the National Bank of Belarus, in particular, supports the government, but President Viktor Yushchenko supports Stelmakh - his longtime friend and colleague.
Under the Ukrainian constitution, the head of state makes the presentation of the Verkhovna Rada on dismissal and the appointment of the head of the National Bank of the country. Send head NBU to resign on his own initiative, the MPs could not.
Tigipko, recall, worked as the Head of the National Bank of Ukraine since 2002, the year 2004. However, in November 2004 the first announced his intention to devote themselves to politics, and resigned from his post. In December, the Verkhovna Rada voted for his dismissal.
Gazprom has estimated its losses from the gas conflict with Ukraine.
Previously, it was reported that on January 14, Gazprom has estimated its losses at 1,1-1,2 billion dollars.
According to Medvedev, the Russian side has the right to demand that Ukraine "full compensation for their losses, sends agency Interfax. Zapred the board of Gazprom said that the responsibility for the disruption of gas supplies from Russia to European consumers is entirely in Ukraine.
Remember, Russia fully stopped supplying gas to Europe through Ukrainian territory on 7 January, accusing "Naftogaz Ukraine" in the selection of an illegal fuel. January 1, were also halted gas deliveries to Ukrainian consumers, because Gazprom and Naftogaz "could not agree on a purchase price of fuel. January 19, the parties signed an agreement on gas deliveries to Ukraine and its transit to Europe, followed by January 20, the transit of gas was restored.
The index of business climate in the U.S. fell to 27-year minimum.
Thus, to do business in the U.S. in 2009 is harder than ever since 1982, with the launch of the NABE such studies. Furthermore, according to the association of professionals, the pressure on the country's economy in the fourth quarter has become much stronger.
Because of the decline in demand, which was a record, as well as the lack of credit resources, firms are forced to reduce investment and dismiss staff. Only 17 percent of those surveyed association of companies intend to hire staff in 2009. Only the last 4 months of 2008 without jobs remained 1.9 million. In December, the number of Americans applying for first time unemployment benefits rose to a record over the past 26 years, meaning.
According to the NABE, the majority of firms give pessimistic forecast for 2009, expecting that the country's GDP will continue to decline.
According to the Ministry of Commerce, the country's economy in the third quarter of 2008 decreased by 0.5 percent. In early December 2008, the National Bureau of Economic Research USA (NBER) reported that the economy is in recession since December 2007.
The Central Bank gave its forecast for the budget deficit in Russia.
In late 2008 the Ministry of Finance of Russia has announced that in 2009 Russia's budget deficit could reach five percent of GDP. In addition, the Ministry of Economic Development estimates the figure could be three to six per cent of GDP. In total, according to preliminary projection agency budget nedoschitaetsya 32 percent of revenue, or 3.5 trillion rubles. These calculations were made based on the price of oil to 50 dollars per barrel.
It should be noted that these forecasts are based on the optimistic scenario. Now the Ministry of Economic Development is preparing a forecast based on the cost of oil at 41 dollars per barrel.
January 20, 2009 Ministry of Finance announced that in December last year, Russia's primary budget deficit amounted to 805 billion rubles, or 20.4 percent of the monthly GDP. At the end of November 2008 also recorded a budget deficit, amounting to 270 billion rubles. In general, the year the federal budget revenue exceeded expenditure by 1.7 trillion rubles. In general, the year the government received 9.26 trillion rubles, and spent 7.56 trillion rubles.
Arab countries have lost because of the crisis of 2.5 trillion dollars.
The biggest loss, he explained, and businessmen from Arab countries have suffered as a result of a 40 per cent devaluation of their foreign investments, which before the crisis were estimated at 2.5 trillion dollars. Some 600 billion dollars, according to his calculations, they have lost as a result of the fall in share prices on stock markets, accompanied by a decline in oil prices.
Negative impact on investors from the Arab countries and falling house prices. Because of the crisis, said al-Sabah, Member States of the Gulf Cooperation Council, bringing together Bahrain, Kuwait, Qatar, United Arab Emirates, Oman and Saudi Arabia, have been forced to postpone indefinitely or collapse of up to 60 percent of development projects.
The development of a unified strategy to combat the global financial crisis, said Foreign Minister of Kuwait, will be the main theme of the economic summit of Arab countries - first in 2009. In addition, meeting in Kuwait, the Arab leaders will discuss the situation in the Gaza Strip, where since the end of December 2008, Israel is pursuing spetsoperatsiyu.
The Swiss court has confirmed the absence of debt-Russia company Noga.
Recall that the Court of Arbitration of the International Chamber of Commerce in Paris in June 2007 refused to acknowledge any debt to the Russian firm Noga.
The firm Noga in 1991 signed an agreement on a loan of Russia for the purchase of consumer goods and food. The agreement was drawn up in such a way that in the event of default, the Russian Federation responded to the creditor of his property.
The contract was drawn up in the unfavorable conditions in Russia, many publications in the media pointed out that he was obviously corrupt, but the case was not prosecuted. In 1993, the contract was terminated by Russia, while the duty of the company Noga has not been returned.
Since then, for more than 15 years trying to prove Noga in various courts, that the Russian Federation has its debt, the amount of which has already changed many times. The company has initiated a number of trials around the world. In order to recover the debt Noga has made numerous attempts to arrest the property of Russia abroad, including the sailing vessel "Sedov" aviasalonah aircraft at Le Bourget, an exhibition of paintings collection of the Pushkin Museum Pushkin, Russian bank accounts and other assets.
Armenia has asked Russia and three billion dollars to banks.
The same source said that talks between Russia and Armenia on the allocation of credit under way since late December 2008. Another loan - for two billion dollars - Armenia wants to take from China.
The fact that Armenia has asked stabilization loan from Russia, was first announced on January 22 with the words, Vice-Premier and Finance Minister Alexei Kudrin, Russia. The official refused to talk about the parameters of the alleged transaction.
In 2008, Russia agreed to provide a stabilization loan of Belarus. Its volume reached two billion dollars, with one billion Russia has already allocated, while another billion received by Belarus in 2009.
Inflation in Russia in 2008 amounted to 13,3 percent.
According to official government forecasts on the basis of the whole of 2008 consumer price inflation in Russia will be 13.5 percent. It should be noted that according to the official forecast of the Central Bank of Russia, inflation for the year should not exceed 13 per cent.
Earlier MEDT expected growth in consumer prices as a result of 2008 at 11.8 percent. November 24, the forecast has been revised, and the agency announced that inflation is slightly higher than 13 per cent. The cause of rising prices were the effects of the global financial crisis caused by the increase in inflation in many other countries around the world.
The largest producer of alcohol in Russia will become joint stock company.
All 100 percent of the new JSC will belong to the state, but later may be selling shares to private investors in the JSC. Corporatization will also give "Rosspirtprom 'ability to use various financial instruments to attract investments, to conduct large transactions with the property without special government permission to establish joint ventures and associate with other companies
Russian Rosspirtprom was established in 2000 and in December 2007 it was decided that the privatization of the company. Under the direction of Russian enterprises are gospakety of alcohol and the liquor industry, which in 2008 produced about 40 percent of all alcohol produced in the country.
The publication writes that Russian assets are estimated at 9 billion rubles, as shares in the largest 11 companies, including Moscow's Kristall, moved to gosbanku VTB in debt by $ 5 billion dollars. Checking Accounts Chamber, whose results were published in October 2007, showed that "Rosspirtprom" poorly managed part of the plants. After the transformation, Rosspirtproma in OAO Bank should move these assets back to the operational management "Rosspirtprom.
Previously, it was reported that director FSUE Rosspirtprom Igor Chuyanov soon will head was created in December 2008, the Federal Service for the Regulation of Alcohol Market ( "Rosalkogol). Such a decree, Prime Minister Vladimir Putin signed on 19 January. It Chuyanov held corporatization "Rosspirtproma" and restructured the management system FGUPom.
The main task of "Rosalkogolya will develop and implement public policy and regulation in the production of and trafficking in alcoholic beverages. Previously, these functions are carried out simultaneously several ministries.
Sunday, January 25, 2009
U.S. financiers will help General Motors six billion dollars.
Of the total mililardov five dollars will be spent on the redemption of preferred shares in the company. A further one billion dollars will be allocated most General Motors. These funds will help restructure GMAC into a bank holding company. This reorganization was approved by the U.S. Federal Reserve remains on 24 December.
Against the backdrop of the global financial crisis, which first hit the U.S. banks, and then, and many manufacturers, including carmakers, GMAC could be bankrupt. During the past six months, the company lost five billion dollars in investments in the automotive sector and real estate.
Funds allocated car as part of a plan TARP, better known as the "Paulson Plan." The program involves the provision from the budget of 700 billion dollars to rescue the American economy. Previously, it was reported that the U.S. government will help road concerns credits totaling 13.4 billion dollars. Without these funds, they could also be bankrupt.
GMAC specializes in automotive lending, insurance and mortgages. The company provides funding for 75 percent of car dealers for General Motors.
The Government has announced a new forecast for a decline in the ruble.
According to Nabiullin new macroeconomic forecast for 2009 is formed on the basis of the average oil prices of 41 dollars a barrel and the downturn in the global economy to 0.3 percent. During the meeting, Prime Minister Vladimir Putin has instructed the Ministry of Finance to adjust the budget in the light of these figures. Recall that before the budget was calculated on the basis of 95 dollars a barrel and global GDP growth of 4 per cent.
The initial three-year budget for 2009-2011 annual growth of the dollar had been scheduled to 24.7 to 27.3 rubles. The dollar rose to mark the beginning of January above 30 rubles, while in the first ten days rose by 10 percent.
During the trading on the MICEX exchange rate on 19 January, following a statement Nabiullin jumped to 33 rubles. In general, the ruble oslabel bivalyutnoy to the basket to 50 kopecks (1.4 percent) to 37.8 rubles. Exchange rates of the dollar and the euro to the ruble were promoted to the CB 33 and 70 kopecks to 32.9085 and 43.7815 rubles, respectively.
Earlier, Russian media reported that the government of Russia will raise the forecast for the average exchange rate of the dollar in 2009 to 34-35 rubles, while oil prices will reduce to 32 dollars per barrel.
Russia refused to borrow 100 billion Belarusian rubles.
Earlier, Russia agreed to provide Belarus a loan of two billion dollars. The first tranche in the amount of one billion was transferred in November 2008.
Pankin said that the second part of the loan will be transferred after the signing of a joint action plan the two countries to overcome the effects of the global financial crisis. According to Deputy Minister of Finance, the plan is still under discussion.
In December, the newspaper Kommersant reported that the decision to grant Belarus a loan of 100 billion rubles will depend on whether the official Minsk independence of South Ossetia and Abkhazia. Another condition - the transfer to Gazprom a controlling stake in OAO Beltransgaz. According to the newspaper, if these conditions are met, Belarus could not only get a loan, but also to maintain the preferential price for Russian gas.
According to the latest information, the Belarusian parliament intends to consider the issue of recognition of Abkhazia and South Ossetia at a meeting to be held April 2.
Georgia has resumed the transit of gas to South Ossetia and Armenia.
As previously reported, a small incident occurred at the station on Sunday morning, shortly after South Ossetia announced the resumption of gas supply.
The transit of Russian natural gas to South Ossetia has been disrupted by 8 August 2008 in connection with damage to the pipeline as a result of the fighting. January 21, it became known that the Georgian gas transportation corporation has completed its renovation, and the company Itera-Georgia expressed readiness to resume deliveries. On Saturday in the South Ossetian government reported that gas entered the gas distribution station and the republic on Sunday to go to Tskhinvali.
Assistant Yushchenko proposed to change the gas agreement.
Previously, it was reported that the prime ministers of Russia and Ukraine Vladimir Putin and Yulia Tymoshenko have agreed on the price of gas and the cost of fuel transit through Ukrainian territory. Under the terms of the agreement, Gazprom will sell the fuel in 2009 at a discount of 20 per cent of the market. At the same time for Russia to remain favorable conditions for the transit price of 2008. Thus, the statement Sokolovsky actually meant that he had proposed to revise the previously reached agreements.
The contract in 2009 between Gazprom and Naftogaz of Ukraine to be signed January 19 in Moscow. The Ukrainian delegation headed by Prime Minister Yulia Tymoshenko has already left the capital of Russia. In Yushchenko's administration said that the delegation has full authority to sign a new contract. Perhaps that sentence Bohdan Sokolovsky will be discussed after the signing of the contract.
Russia does not supply gas to Ukraine from January 1, because the parties failed to agree on the price of gas. In the same time, Gazprom offered Ukraine to buy fuel at 250-450 dollars per thousand cubic meters. According to the latest data, at the beginning of 2009, natural gas for Ukraine will cost about 360 dollars per thousand cubic meters.
From January 7, Gazprom is not the transit of gas through Ukraine, as well as believes that the local "Naftogaz" steals fuel. In turn, Ukraine has repeatedly stated that do not use Russian gas for its needs.