Economic warfare between the West and Russia only punishes the guiltless September 30, 2014 INCREASINGLY, I am receiving requests for legal support from Russian and Western individuals and businesses who are suffering from the economic sanctions imposed by the West on Russia, and from Russia’s counter-measures. The legality of these sanctions is dubious at best. They flagrantly violate the free trade principles enshrined in the World Trade Organisation treaty [...]
Russia sanctions remain until Ukrainian peace agreement in place, says EU September 30, 2014 The EU will maintain sanctions against Russia because of the ongoing violence in Ukraine, it decided today. At a meeting of EU ambassadors on Tuesday, the bloc ruled that the peace agreement between Ukraine and pro-Russian separatists "will need to be properly implemented" before sanctions are dropped. However an EU spokeswoman noted there had been [...]
Eurozone economic sentiment falls to 10-month low September 29, 2014 Eurozone economic sentiment has fallen to its lowest level in 10 months, and below the long-term average, on the back of falling consumer confidence. Sentiment in the region dropped by 0.7 points to 99.9 – below the long-term average of 100 – while sentiment from within the EU also fell, by 1 point to 103.6, [...]
UK superyacht industry buoyant as confidence at seven year high September 28, 2014 A flood of new orders may lead to even greater fortune for Britain’s £500m superyacht sector, with confidence in the industry at a seven- year high according to a new survey. The latest annual poll, carried out by industry body Superyacht UK, said 69 per cent of members rate prospects for the next 12 month [...]
Sanctions push Russian prices up 7.5 per cent September 25, 2014 Russia’s rate of inflation may exceed 7.5 per cent this year, as foreign and domestic sanctions act to restrict the supply of goods. Russia’s target has been around four per cent since the end of hyperinflation in the early 1990s, but it is highly likely to miss the target this year, according to the head [...]
Kazakhstan taps into investors to raise capital September 25, 2014 KAZAKHSTAN will return to the international bond markets after nearly 15 years to raise cash from investors. The central Asian country, known for its eye-catching capital Astana, has mandated Citigroup HSBC and JP Morgan to raise the cash from the international investment community, The three banks will hold a series of meetings throughout next week, [...]
Ukrainian President unveils plans for EU membership September 25, 2014 Ukrainian President Petro Poroshenko is to outline plans for his country to apply for EU membership in six years time. Poroshenko said Ukraine would undertake a series of economic and social reforms to meet the standards required of EU members. "It (the strategy) provides for 60 separate reforms and special programmes, which will prepare Ukraine [...]
Kazakhstan to issue $10bn in bonds as it returns to market after 15 years September 25, 2014 Fancy owning a piece of Kazakhstan – or more specifically, its debt? Well the country is about to make its long-awaited return to the international bond market, and it's doing it through a London listing. According to an announcement made this lunchtime, the Republic of Kazakhstan has received approval for its issue of $10bn [...]
Richard Branson has spoken: Apple Pay is the future, Bitcoin regulation is a good thing and Sidecar is the startup app to watch September 25, 2014 City A.M. chatted with Richard Branson about his views on startups, why affordable space travel is imminent and what drove his decision to invest in a drone business. What’s the most exciting startup at the moment? I’m lucky in that I meet exciting startups virtually everyday. One that’s especially grabbed my attention lately [...]
Russian growth forecast slashed by World Bank due to sanctions September 24, 2014 RUSSIA had its growth forecasts slashed by the World Bank yesterday due to ongoing geopolitical tensions coupled with a lack of reform. The World Bank forecast 0.3 per cent growth in 2015 and 0.4 per cent in 2016, revised down from 1.5 per cent and 2.2 per cent respectively. Sanctions imposed in response to Russia’s [...]