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Fitch: ‘Fiscal cliff’ would cost US sovereign rating
Wednesday, 19 December 2012 16:35

Win McNamee / Getty Images / AFP

The looming ‘fiscal cliff’ in the United States is the biggest threat to the world economy and can cost the country its AAA sovereign rating, according to the Fitch ratings agency.

­Fitch says the fiscal cliff is the single biggest near-term threat to the world economy. It would plunge the country into recession with ...

Russia lost more than $150bn in illegal outflow
Wednesday, 19 December 2012 15:08

RIA Novosti / Vadim Zhernov

Russia lost a whopping $151bn in black money leaving the country in 2001-2010, making it the fifth largest victim of illicit capital outflow, according to a report of Global Financial Integrity (GFI), the US financial watchdog.

The GFI found out that as much as $43.6bn illegally left Russia in 2010 in addition to $84bn of...

Saxo Bank's 'outrageous' predictions: World economy to face wild crises in 2013
Wednesday, 19 December 2012 14:02

AFP Photo / Yasuyoshi Chiba

Spain defaulting, oil falling to $50 a barrel and the DAX plunging 33% - Saxo Bank’s “outrageous predictions” for 2013 are like an economic Apocalypse.

­The Danish investment bank has published its unofficial predictions for the next year that are unlikely, but will send shock waves through the global markets if they ...

Russian banks borrow record $61bn from Central Bank
Wednesday, 19 December 2012 12:08

Russian Central Bank in Moscow (Reuters / Sergei Karpukhin)

Russian banks borrowed a record 1.9trln roubles ($61 billion) from the Central Bank of Russia during an auction aimed to boost the liquidity level of the country’s lenders.

On Tuesday the CBR provided 2.63trln roubles – the largest amount since 2009 – to the banks at the auction, Vedomosti d...

Russian military hardware best in the world
Wednesday, 19 December 2012 10:56
The global arms market has been growing during the recent years. Russian arms are in high demand on this market, and it is the weapons and equipment of Soviet development that are competitive most. Their performance is even better than that of advanced Western models for certain tasks. In 2012, the Russian Federation has topped the arms export...
UBS hit by $1.5bn fine over Libor case
Wednesday, 19 December 2012 09:41

Switzerland's largest bank UBS has agreed to pay $ 1.53 billion in fines to US, Swiss and British financial regulators in order to settle investigations into the Libor interest rate manipulation.

"We deeply regret this inappropriate and unethical behavior. No amount of profit is more important than the reputation of this firm, and we are committed...

Market Buzz: Global markets rally as US keeps on inspiring
Wednesday, 19 December 2012 06:47

General optimism over progress in US budget talks is expected to keep major markets in the black for Wednesday’s trading session.

House Speaker John Boehner’s willingness to increase tax rates for the wealthiest Americans was described as “progress” by the White House.In response, President Barack Obama said he would match the tax increases with...

The Mayan apocalypse: why is everyone in such a fever about it?
Tuesday, 18 December 2012 17:12

Well, if the world really is coming to an end on Friday 21 December, you can see their point. On the other hand, there seem to be a few people trying to make money out of impending doom

Age: As old as idiocy itself.

Appearance: Back-garden bunkers, tinned food and, eventually, embarrassment.

Is this about Friday? It is indeed. Specifically, the...

Russia threatens to ban Americans from adopting Russian children
Tuesday, 18 December 2012 15:34

Human rights ombudsman condemns 'shameless' retaliatory move after US banned Russians implicated in lawyer's death

Russia is threatening to ban Americans from adopting Russian children in retaliation for a new US law that forbids Russian officials accused of human rights abuses from travelling to the US.

The proposed ban has sparked an outcry among...

The US eagle can never beat the Russian bear
Tuesday, 18 December 2012 10:49
There are no prerequisites for possible "color" revolutions in Russia today, and there is confidence that the implementation of such scenarios in the country will not be allowed, Secretary of Russia's Security Council, Nikolai Patrushev said. According to him, the Russian administration knows the names of those who finance such coups...
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