Keep up with the news by installing RT’s extension for . Never miss a story with this clean and simple app that delivers the latest headlines to you.

 

Business

Dateline
September 01, 2014 10:01
Reuters / Yuri Maltsev
Putin launches world's biggest gas pipeline network to China
Russian President Vladimir Putin and Chinese Vice Premier Zhang Gaoli have launched the construction of the first part of Gazprom’s Power of Siberia pipeline - which will deliver 4 trillion cubic meters of gas to China over 30 years. 19
Australian Prime Minister Tony Abbott (AFP Photo / Justin Tallis) ​Australia imposes new round of sanctions against Russia
The Australian government on Monday unveiled further sanctions against Russian oil and gas, financial and defense sectors, bringing Canberra in line with the European Union. 72
The International Monetary Fund (IMF) headquarters building is seen in Washington (AFP Photo / Yuri Gripas)
​IMF throws Ukraine $1.4bn lifeline
The International Monetary Fund has given a green light for Ukraine to receive the second tranche of financial assistance totalling $1.39 billion, meaning more austerity measures for the already struggling economy. 81
Reuters / Olivia Harris UK seeking to bar Russia from using SWIFT banking network – report
The British government will press other European nations at a meeting in Brussels on Saturday to block Russia from using the SWIFT banking network, Bloomberg reported, in what could be a dramatic expansion of sanctions. 142

Business snaps

Russia won’t leave WTO - Lavrov 

Moscow does not plan to leave the World Trade Organization (WTO) in retaliation to new Western sanctions, Foreign Minister Sergey Lavrov has said. Speaking with students in Moscow on Monday, he said the sanctions would force Russia to protect its economy, social area, citizens and businesses. At the same time, Moscow will use WTO’s instruments to overcome the EU’s “discriminatory policies towards antidumping procedures,” ITAR-TASS said. The WTO’s mechanisms could be also applied against using norms of the EU’s third energy package retrospectively, he said.

Ruble-euro exchange rate plummets to 49 for first time since May 5 

The Russian currency dropped 30 kopeks on the Moscow Exchange on Monday morning, ITAR-TASS said. The ruble-euro exchange rate plummeted to 49 for first time since May 5. The dollar gained 21 kopeks to 37.33 rubles. The price of the bi-currency basket (0.45 euro and 0.55 dollar) increased by 24 kopeks to 42.59 rubles. Analysts cite current geopolitical factors as the main reason behind the rate changes.

​US targets Moscow-based bank under Iran sanctions 

Washington has imposed new sanctions targeting companies and individuals it believes are related to Iran’s nuclear program. Among them is Moscow-registered but Iranian-owned Asia Bank, formerly known as Chemeximbank. The US Treasury accuses the bank of converting and facilitating the delivery from Moscow, to representatives of the Iranian government in Tehran, US dollar bank notes valued at over $13 million.

Russian vodka, caviar, diamonds could be hit by EU sanctions – report 

Imports of Russian vodka, caviar and diamonds may be banned by the EU as part of a new round of sanctions over Ukraine, Die Welt newspaper reported. New sanctions against Russia’s energy sector are unlikely, the German newspaper said. EU foreign ministers on Friday were set to consider adopting new sanctions against Russia.

Russia’s VEB invests $688mn in Sukhoi Superjet 100 manufacturer 

Russia’s Vnesheconombank (VEB) has acquired Sukhoi Civil Aircraft Company’s shares for 25 billion rubles ($688 million), according to VEB’s official documents. As part of the additional share issue, VEB bought about 10 million shares of the manufacturer of Sukhoi Superjet 100 airliner, or 16.6 percent of the company’s authorized capital stock. VEB’s support will allow Sukhoi Civil Aircraft to produce up to 60 SSJ-100 airliners. In 2013, 25 Superjets were manufactured.

Russia watchdog orders McDonald’s to close restaurant in Moscow Region, 2 in Sochi 

McDonald’s has closed a restaurant in the Moscow Region and two in the city of Sochi on orders from Russia’s consumer rights watchdog, ITAR-TASS said. The number of suspended restaurants in Russia has now risen to eight, the company said. Deputy Prime Minister Arkady Dvorkovich earlier said that the authorities do not plan to suspend operations of McDonald’s restaurants in Russia.

Moscow won’t react to Ukraine’s PM statement about blocking Russian assets – minister 

Moscow will not react to Ukrainian Prime Minister Arseny Yatsenyuk’s statement about “the need to block Russian assets abroad,” Russian Industry and Trade Minister Denis Manturov said Thursday. Manturov described such statements as “ill-considered,” RIA Novosti reported. Yatsenyuk said the previous sanctions against Russia over Ukraine were ineffective and called on the US and the EU to freeze Russian assets.

A Malaysia Airlines flight attendant (C) prepares for take off (AFP Photo / Nicolas Asfouri) Struggling Malaysia Airlines cuts 6,000 jobs to stay afloat
Malaysia Airlines will cut 6,000 jobs and de-list from the national stock exchange following a restructuring plan that will cost the company $1.9 billion, majority shareholder the Malaysian sovereign wealth fund Khazanah Nasional said on Friday. 12
Reuters / Denis Balibouse ​Switzerland mirrors EU sanctions against Russia
Switzerland has issued an expanded sanctions list against Russia which includes 5 banks, several companies and 11 Russian citizens. The move comes as the country doesn’t want to be used to bypass European sanctions on Moscow. 83
Maserati Grand Turismo car presented during the Moscow International Automobile Salon 2014 at Crocus Expo. (RIA Novosti / Vladimir Astapkovich)
Sanctions are of no concern at glittering 2014 Moscow car show
The Moscow International Automobile Salon (MIAS) - one the world’s top ten auto shows - has opened its doors to public on Friday showing that sanctions against Russia are of no real concern for participants and visitors. 6
Screenshot from Sberbank Promotional Video Purr-fect mortgage: Top Russian bank offers feline bonus to new homeowners (VIDEO)
Russia’s largest lender, Sberbank, is giving a housewarming cat to new homeowners who sign up for the bank’s new special mortgage program. 13
AFP Photo / Andy Buchanan ​‘London-centricity is unsustainable’: 200 business leaders back Scottish independence
More than 200 business people have lent their support to the “Yes Scotland” campaign in an open letter published in The Herald Scotland newspaper, just one day after 130 slammed the idea of secession from the UK. 19
A woman takes pictures of an announcement on the door of a closed McDonald's restaurant (Reuters / Maxim Zmeyev) 12 McDonald’s restaurants temporarily closed in Russia, 100 inspections underway
Russia’s food safety watchdog has temporarily closed 12 McDonald’s outlets across the country as of Friday citing sanitary violations. Meanwhile, the company says it will “modernize” 18 other restaurants in renovations planned for September. 48

Shows

Boom Bust Boom Bust
  Cate Long on the fall of Atlantic City, Bryan Caplan on govt power

The world’s central bankers are at the Jackson Hole symposium in Wyoming. Erin takes a look. Municipal bond...

August 27, 2014 03:30
Venture Capital Venture Capital
  Gasping for gas (E53)

This week Katie Pilbeam investigates why Europe will be heavily reliant on Russian gas for years to come. Also,...

August 30, 2014 06:37

Follow us

RT asks

Follow us