The 19th St. Petersburg International Economic Forum is underway. Despite sanctions, more than 7,000 guests and 1,000 international companies are represented, among them the heads of BP, Royal Dutch Shell and Total. RT will keep you updated.
After a decade of negotiations China and Australia have sealed a free trade agreement which is expected to deliver a $20 billion boost to mutual trade by 2035. Currently trade between the two stands at almost $160 billion annually.
President Obama will have to wait up to six more weeks before getting fast-track authority to negotiate trade deals, such as TPP. The House put off a vote on the bill required to pass the authority, giving Obama time to drum up support within his party.
Chinese online retailer JD.com (Jingdong Mall) has chosen Russia as the first overseas market for its expansion, said company's official Victor Xu. The firm aims to become an e-commerce leader in the Russian market within five years.
Russia and China expect to use the ruble and yuan in payments for gas supplied using the western Altay pipeline. When it and the eastern Power of Siberia pipeline is open Beijing will become the biggest consumer of Russian gas.
The firearms manufacturer Colt Defense has filed for bankruptcy protection aiming to cut its $355 million debt. The company has struggled financially due to waning sales and the loss of a key contract.
The latest lawmaker to compare opponents to Nazis, Rep. David Schweikert, likened unions opposed to a controversial trade deal to Nazi propaganda head Joseph Goebbels as the House approved the president's unilateral power to negotiate major trade pacts.
The House is getting ready to vote on a controversial “fast-track” trade bill that if passed will grant President Barack Obama more authority in negotiating a Trans-Pacific Partnership (TPP) trade deal.
China has started a rail freight service linking the western Xinjiang region also known as a "core area" of the Silk Road economic belt with Moscow. It is expected to deliver $8.1 billion worth of cargo annually.