Gazprom and the EU agree “mutually beneficial relations” April 2, 2014 The chief executive of Russian state-controlled gas producer Gazprom has agreed with the EU that they have a shared interest in maintaining “mutually beneficial relations”. The giant supplier announced in a statement that boss Alexei Miller met with Guenther Oettinger, European energy commissioner, and discussed a "wide range of issues of bilateral cooperations". The news [...]
How the EU’s relaxing of visa rules could bring €130bn of gains April 1, 2014 The European Commission has proposed a host of measures to liberalise visa rules for non-EU nationals that could lead to €130bn in direct spending and 1.3m jobs over the next five years. The Commission believes its package of reforms will boost tourism and bring researchers, students, artists and other professionals to European shores. Demand for [...]
US and Russia work on easing Ukraine crisis March 31, 2014 AMERICA’S surprise meeting with Russian officials in Paris last night yielded some common ground over the annexing of Crimea, though tensions remain high. US Secretary of State John Kerry, who stopped off in France following a Middle Eastern trip, said he had stressed during four hours of talks with the Russians that the country’s actions [...]
Prime London prices up by more than two thirds in past five years March 31, 2014 PRIME central London prices have risen by more than two-thirds since their post-Lehman Brothers low, according to new research that looks at how recent political events, as well as economics, have affected prices. According to Knight Frank’s central London index out today, prices have risen 68 per cent since the bottom of the market in [...]
Lukoil starts output at Iraq oil field March 31, 2014 Lukoil has started commercial production from the West Qurna-2 oil field in Iraq. The Russian oil company said at the weekend that it reached its target output level of 120,000 barrels per day on Friday. According to the contract between Lukoil and the Iraqi government, the firm must maintain that level of production for the [...]
Best of the Brokers for 31 March 2014 March 30, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ITE GROUP Peel Hunt has placed ITE Group under review following a serious currency hit for the conferencing group and added effects of lost Ukrainian sales. The broker said that for 2015 the ongoing geopolitical impact of the Russian conflict with Ukraine has [...]
Globalisation isn’t keeping us safe – it’s blunting our punishment of Putin March 30, 2014 CALAMITIES often serve a useful purpose in foreign policy, overturning intellectual sacred cows that – until they so dramatically reveal themselves as unfit for purpose – pass for received wisdom. The long-held leftish shibboleth of interdependence presently seems ripe for the chopping block. This cherished nostrum declares that, since countries’ economic affairs are intertwined, mainstream [...]
Rusal disrupts Metal Exchange warehouse plan March 28, 2014 THE LONDON Metal Exchange’s reforms suffered a major setback yesterday, after a court agreed with Russian aluminium producer Rusal that plans to cut warehouse queues were “unfair and unlawful”. The world’s largest metals exchange said it is taking legal advice on whether to appeal the London high court’s decision. The court ruled in favour of [...]
What you need to know before the US open March 27, 2014 US GDP fourth quarter results showed the economy grew a bit more quickly than expected in the fourth quarter (by 2.6 per cent), bolstered by stronger consumer spending. Futures were up ahead of the numbers, which will no doubt boost investor sentiment. Separate data releases show that initial jobless claims fell to 311,000 in the week [...]
79pc rise in Russian gas price will push Ukraine to the edge, warns PM March 27, 2014 The price Ukraine pays for Russian gas will rise 79 per cent from 1 April to $480 (£290) per 1,000 cubic metres, according to Ukrainian prime minister Arseny Yatseniuk. In a speech to the country’s parliament, the premier said the upped price will push the country even closer towards economic tragedy: "Ukraine is on the [...]