“The presidents of Russia and Brazil have met ahead of the BRICS Summit. Vladimir Putin and Dewma WHO-sseff were present as some of the two countries’ largest corporations signed agreements to deepen the economic ties between the two. Corporate investor Jim Rogers tells RT that the BRICS members are capable of challenging the United States’ financial dominance.”
“The new addition, published in the EU Official Journal, includes Russian National Commercial Bank, Dobrolet airline and Almaz-Antey, a Russian manufacturer of air defense weaponry. The EU says Russian National Commercial Bank (RNCB) became fully owned by the Crimean Republic after its reunification with Russia in March. ‘It has become the dominant player in the market, while it had no presence in Crimea before.’ The sanctions also target Dobrolet, a Russian low-cost airline based at Sheremetyevo International Airport and a subsidiary of state-owned Aeroflot airline. In June, Dobrolet launched its first commercial flights from Moscow to Simferopol.”
“Sanction threats against Russia sent shock waves of panic across the world of investment. There’s still those who still believe in the prospects of the Russian economy, despite the political turmoil. So, what are these prospects? How are sanctions affecting the financial balance of power? And, finally, what does Moscow’s turn to Beijing mean for the future of the global economy? We ask these questions to a renowned investor and businessman – Jim Rogers.”
“Prime Minister Gruevski insisted the plan will not attract criminal money, but will boost employment. ‘We aim to open an international financial zone on an area of 10 to 20 hectares where we will copy the financial laws from countries such as the United States, Britain or Germany, which will additionally boost its credibility,’ he said. ‘The regulations will be taken from these top economies and companies that decide to move their HQs here will be offered additional tax and other benefits,’ he explained. The government plans to give more details about the draft law soon after the constitutional changes are adopted by parliament, which should happen by mid-October.”
http://www.balkaninsight.com/en/article/macedonia-plans-becoming-tax-heaven
“The group of emerging economies signed the long-anticipated document to create the $100 bn BRICS Development Bank and a reserve currency pool worth over another $100 bn. Both will counter the influence of Western-based lending institutions and the dollar. The new bank will provide money for infrastructure and development projects in BRICS countries, and unlike the IMF or World Bank, each nation has equal say, regardless of GDP size. Each BRICS member is expected to put an equal share into establishing the startup capital of $50 billion with a goal to reach $100 billion. The BRICS bank will be headquartered in Shanghai.”
http://rt.com/business/173008-brics-bank-currency-pool/
“Less than a year after the conversion of almost half their deposits over 100,000 euros ($136,000) into equity, Bank of Cyprus Pcl shareholders face another potential blow as the lender’s management prepares to woo international investors for a stock sale. The lender was responding to an ultimatum this week by Central Bank Governor Chrystalla Georghadji to raise at least 1 billion euros in new capital by Aug. 8 before euro-area bank stress tests. Such a move was opposed by shareholders, many of them Russian, who are concerned their stakes will be diluted, according to a senior Bank of Cyprus official. Bank of Cyprus’s liabilities toward euro-area central banks total almost 60% of GDP.”
“The EU wants the US to lift its restrictions on exporting gas and crude oil as part of ongoing trade talks, according to a leaked document. EU and US trade officials will hold their sixth round of talks on an ambitious Transatlantic Trade and Investment Partnership (TTIP) in Brussels next week, which officials argue could be worth €100 billion per year. At the top of the EU’s demands is for Washington to scrap its requirement to review whether exports are in the public interest before approving any foreign sales. A number of EU countries have large deposits of shale gas in their own soil, but most have so far been reluctant to start exploiting it because of environmental concerns.”
http://euobserver.com/news/124910
“President Obama spoke with German Chancellor Angela Merkel about the possibility of new sanctions against Russia if it doesn’t take steps to de-escalate the conflict in Ukraine that may have played a role in the shooting down of a commercial jet. ‘While agreeing to continue efforts to find a diplomatic solution to the current crisis, they reaffirmed their determination to remain in close contact as they consider what additional actions may be required,’ the White House said of the phone call between the two leaders. ‘They emphasized that Russia bears a clear responsibility to deny separatists in eastern Ukraine continued access to heavy weapons and other support from inside Russia.'”
“Utilities in the U.S. are scrambling for coal, on pace to increase imports 26 percent this year. Russia, the world’s third-largest exporter of the fuel, will boost shipments 3.9 percent to 106 million metric tons this year, IHS Energy forecasts, part of President Vladimir Putin’s plan to expand Russia’s role in the global coal market. The Russian fuel appeals to power producers because it emits less sulfur than other coals, making it easier to comply with environmental rules, and has a high heat content, meaning it can produce more power per measure of fuel, Stevenson said. In 2012, Putin pledged to spend $120 billion to expand Russia’s coal mining capacity and boost exports through 2030.”
“Senator John McCain jumped on the supposition that there were US citizens aboard to call for punitive actions against Russia before the passenger list and the cause of the airliner’s fate are known. The ‘investigation’ is being conducted by Washington’s puppet regime in Kiev. I think we already know what the conclusion will be. The probability is high that we are going to have more fabricated evidence, such as the fabricated evidence presented by US Secretary of State Colin Powell to the UN ‘proving’ the existence of the non-existent Iraqi ‘weapons of mass destruction.’ Washington has succeeded with so many lies, deceptions and crimes that it believes that it can always succeed again.”
http://www.paulcraigroberts.org/2014/07/17/sanctions-airliners-paul-craig-roberts/