economics

MOSCOW -- Russia, holder of the world's fifth largest stash of foreign currencies, is increasing its gold purchases. One reason for this is the country's increasing wariness of the dollar and euro now that Russia has come under U.S. and European sanctions over the Ukraine crisis. Another reason is that these currencies are becoming increasingly risky to hold due to the swelling debts of the governments that back them.

Counsellor of the Russian Embassy in Mexico for Economic Affairs Nikolai Shkolyar: 'Development of the export support strategy is necessary for effective promotion of Russian products abroad'

The Russian National Committee for BRICS Studies will draft a new strategy for emerging world powers.

Out of all Russian foreign policy think tanks that focus on a variety of international issues, there is one that deals with a single but very acute topic. The National Committee on BRICS Studies was founded in 2011 and has since then been dealing exclusively with the Brazil, Russia, India, China and South Africa economic and political alliance.

It is no secret that today Switzerland is one of the most stable trading partners of Russia. And for the Swiss side, Russia is part of the seven priorities in the cooperation in the scientific field, where a new phase of development is expected after the signing of the bilateral treaty on cooperation in science and technology.

Unemployment has shown its darker side, becoming perhaps the biggest economic and social problem worldwide. The current situation is not very different from the Great Depression of the 1930s, when millions of people were left without work.

WASHINGTON, UNITED STATES (26/JUN/2013.) - The U.S. economic performance during the first three months of the year was weaker than initially reported to register a growth of just 1.8 percent, reported the Commerce Department.

The figure represented a substantial retreat from the 2.5 growth in the Gross Domestic Product (GDP) which was first reported by the Commerce Department last April.

However, the figure was placed above the paltry 0.4 percent that was reported during the fourth quarter of 2012.

NEW YORK, UNITED STATES (14/JUN/2013.) - The Latin American and Caribbean countries in 2011 managed to have a greater number of people living in the middle class than in poverty, but the region is still far from reaching the prosperity of the rich countries as one out of four Latin Americans lives on less than four dollars a day, reported the World Bank on Friday.

The U.S. tax law that would force financial institutions worldwide to report to U.S. tax authorities will increase expenses and modify global banking culture, financial experts said today.

"From 2014 we will have another way of banking," said at a press conference the specialist in risk consulting firm Deloitte, Ramon Arosemena.

Very little has changed since the G-20 announced the end of offshore havens in 2009. A new report by the NGO ActionAid puts in question the British government's political will to combat the problem.

This year the Russian Engineering Union is celebrating its first jubilee. Within five years the organization not only united the leading companies of the country, but became a powerful driving force. The important step was made last year, when a new political trend connected with participation in All-Russia People’s Front arose.