Section: Business Insider (USA)
The Russian government is launching its own mobile operating system to take on Apple and Google
The global smartphone race is largely a two-horse race between two American companies, Apple and Google — and the Russian government isn’t happy. The Russian minister of communications has announced plans to develop a new, Russian-built mobile operating system (OS), ZDNet reports, citing a report on the Russian-language news site RBC....
US signs $1 bn loan guarantee for Ukraine
Washington (AFP) – The United States signed Monday its second $1 billion loan guarantee deal for Ukraine aimed at helping the crisis-wracked country surmount a Russia-backed insurgency and rebuild its tattered economy.The US loan guarantee agreement is part of a $7.5 billion package of support for Ukraine over the coming year from its...
Global energy subsidies to hit $5.3 tn this year: IMF
Washington (AFP) – The International Monetary Fund voiced alarm Monday about energy subsidies across the world, saying they were expected to reach $5.3 trillion in 2015, more than government health spending.”These estimates are shocking,” the IMF said in a report, noting the figures were among the largest negative factors for...
Russian economist: The Kremlin’s ‘military spending binge’ is completely unsustainable
Russia’s military spending is getting out of control. The Kremlin has been in the middle of an intense military build up over the last few months against the backdrop of a deteriorating economy. Even with the Kremlin’s revised budget plan in April (which assumes an average exchange rate of 61.5 rubles to the dollar), Russia is...
10 things you need to know in markets today
Good morning! Here are the most important stories in markets today. Greece may not pay up this month. Prime Minister Alexis Tsipras had warned foreign officials that Athens would not be able to pay the €750 million (£545 million, $856 million) due this month to the International Monetary Fund, Greek newspapers said Sunday. Iran’s...
EBRD to invest more in Central Europe, ex-USSR, Greece
Tbilisi (AFP) – The European Bank for Reconstruction and Development (EBRD) promised on Friday more funds for ex-Soviet countries, Central Europe, and Greece, but ruled out new investments in Russia due to Western economic sanctions over Ukraine.”We have the potential to expand our investment levels beyond what we are currently doing...
Russian Q1 economic contraction less than feared at 1.9%
Moscow (AFP) – Russia’s economy shrank 1.9 percent in the first quarter under pressure from low oil prices and Western sanctions, the state statistics agency said Friday, a smaller contraction than had been feared.Russian Prime Minister Dmitry Medvedev last month estimated that the economy had shrunk by two percent year-on-year in the...
Russia is moving ahead with plans to develop a new aircraft carrier
In spite of sanctions over Russia’s annexation of Crimea and the conflict in eastern Ukraine, Moscow has continued to push ahead with plans to upgrade and modernize its military. As part of this effort, Russia is planning to add a second aircraft carrier to its navy. The new aircraft carrier, known as Project 23000E or Shtorm, is still in a...
Ukraine GDP plunges 17.6% in first quarter of 2015
Kiev (AFP) – The Ukraine economy shrunk 17.6 percent in the first quarter of 2015 compared to the same period last year, sapped by continuing violence in its eastern industrial heartland, the national statistics agency said Friday.The fall in Q1 GDP was 6.5 percent compared to the final quarter of 2014, Ukraine’s state statistics...
Holders Sevilla, unheralded Dnipro, into Europa League final
Paris (AFP) – Holders Sevilla, who crushed Fiorentina, face unheralded Ukrainians Dnipro in the Europa League final in Warsaw on May 27.The finalists progress to the Polish capital finale in wildly contrasting fashions.Sevilla, seeking a record fourth success in the competition, were firmly in the driving seat after last week’s 3-0...
