China is the real victor as Putin looks East May 22, 2014 WHEN President Vladimir Putin voyaged to Beijing this week, it was with one thing in mind: strengthening Sino-Russian relations. The signing of a $400bn (£237bn) gas pipeline deal with Beijing formed the centrepiece of this effort. Russia’s aggression in Ukraine is pushing the US and Europe away, and Putin is looking to reorient towards an [...]
Russia gas deal with China could drive up energy costs in Europe May 21, 2014 THE CHINESE and Russian government signed a $400bn (£237.1bn) gas deal yesterday, which some analysts believe could drive up gas prices in Europe when it comes into force. The agreement means that Gazprom will pipe gas into China for 30 years, beginning in 2018. At its peak, it will supply 38bn cubic metres of natural [...]
Oligarch faces world’s largest divorce payout May 20, 2014 A JUDGE in Switzerland has ordered Russian oligarch Dmitry Rybolovlev to pay his ex-wife SFr4bn (£2.7bn) following a six-year battle, making it the largest divorce settlement ever. The lawyer acting on behalf of Elena Rybolovleva, Marc Bonnant, said she is “satisfied” with the ruling. “Everything she asked for she was rightfully granted,” Bonnant told City AM. [...]
What the other papers say this morning – 20 May 2014 May 19, 2014 FINANCIAL TIMES EU banks face debt sale clampdown European regulators are seeking to clamp down on the sale of debt by banks to their own retail customers, amid fears savers do not realise the risks posed by such assets. The European Banking Authority is concerned about the sale of bank debt that could be bailed [...]
Russia and Ukraine weigh on ITE May 19, 2014 Exhibitions firm ITE Group reported a 64 per cent boost in profits to £18.2m during the six months to March, but warned it expects a lower level of growth in its key Russian and Ukraine markets for the rest of the year due to political uncertainty in the region. “The group experienced mixed trading conditions [...]
Letters to the Editor – 20/05 – Google judgement, Best of Twitter May 19, 2014 Google judgement [Re: Is the “right to be forgotten” online a real danger to freedom in Europe? yesterday] The Google “right to be forgotten” judgement is about the protection of personal data on the internet, not the freedom of expression. Google cannot say that its processes are carried out “solely for journalistic purposes”. But journalists [...]
Asian markets slide after Chinese house prices disappoint May 19, 2014 Asian markets have suffered declines as weak housing data from China renewed fears that the slowdown in the world's second largest economy could be getting worse. House prices for new homes rose in 44 of 70 cities surveyed last month, compared with 56 cities is March. The People's Bank of China has instructed financial institutions [...]
Vodafone divi takes payouts to new record May 19, 2014 VODAFONE’S world record dividend payout to investors took global payments to a new high last quarter, as ongoing unrest in Ukraine slashed dividends at Russian firms by more than a half, new research claims. The telecoms giant made a special $26bn (£14.5bn) payment to investors on the back of its Verizon Wireless deal, taking the [...]
Three things you didn’t know about… May 19, 2014 UK chairman of public affairs, Weber Shandwick Jon McLeod 1 Jon was a member of “moderately successful” eighties band, The Red Army Choir. They supported New Order when they had Blue Monday in the charts and Peter Hook once warned, “keep your f****** hands off our equipment or I’ll smash your face in.” 2 He’s [...]
Ukraine crisis and warm weather hammer EU-Russia trade May 15, 2014 Trade between Russia and the EU slumped in the first three months of 2014, according to figures to be released by Eurostat on Friday, reports Euractiv. EU imports from Russia dropped nine per cent in the first quarter compared to the same period last year, with the volume of Russian imports standing at €49bn (£40bn), [...]