The National Bank of Kazakhstan has devalued the tenge by 18.9 percent, as the Russian ruble keeps on hitting new lows against the dollar. Weakness in emerging markets is increasing, with experts warning more devaluations across the region could follow.
A CNN list compiling the 'world’s ugliest monuments' has been decried as 'sacrilege' in Belarus for including the country’s most important World War II monument. CNN apologized for the offense caused by the list, which it ascribed to a “contributor.”
The new owners of Russian potash producer Uralkali are to resume cooperation with Belaruskali of Belarus, which means the cartel that used to control about 40 percent of world potash exports will be back.
Belarus has extradited Uralkali CEO Vladislav Baumgertner to Moscow after being held hostage in Minsk in the so-called "potash war". This could mean the re-birth of the cartel controlling 40 percent of the $20 billion world fertilizer market.
Russian billionaire Mikhail Prokhorov’s investment arm ONEXIM has bought Suleiman Kerimov’s 21.75 percent stake in Uralkali, which could bring an end to the Russia-Belarus ‘potash war’ and the release of the company’s CEO being held hostage in Minsk.
A court in Belarus has confiscated the car of a repeated drunk driver and ordered the person to 1.5 years of community service following the introduction of a new law. The car is now set to be sold. Russia is considering similar legislation.
Moscow is set to supply Minsk with more S-300 complexes to strengthen the external border under a project of merging the countries’ air defenses. The systems are to be deployed close to the Belarus border with NATO’s Poland and Lithuania.
India is reportedly in talks to buy 20 percent of Belaruskali. The sale could provide a more stable future for the troubled potash giant hit by a sudden break–up of the world’s biggest export consortium.