The Russian navy has announced that it will hold its biggest war games since Soviet times in the Mediterranean and Black seas later this month.The ambitious exercises, which will involve ships from all four major Russian fleets, are a sign of growing confidence on the part of Russia's military as it begins to enjoy the benefits of President Vladimir Putin's huge budget allocations for renewing and...
Gerard Depardieu's latest drama: a Russian passport
Labels: WorldVladimir Putin flourished his pen Thursday morning and signed what must be the oddest decree of his long years in power: an order granting a Russian passport to French actor and tax exile Gerard Depardieu.A terse announcement posted on the Kremlin website noted that Mr. Putin acted "to satisfy an application for citizenship of the Russian Federation by Gerard Xavier Depardieu, who was born in 1948...
Jan
03
Lending to businesses still weak in Europe
Labels: BusinessFRANKFURT, Germany (AP) — Bank loans to companies fell again in Europe, another sign that the economy remains slack in the 17 European Union countries that use the euro.The European Central Bank said Thursday that loans to non-financial corporations fell by 1.4 percent in November from the year before.It's a sign that businesses remain reluctant to take on risk and borrow, despite the ECB's record...
German jobless rate up to 6.7 percent
Labels: BusinessGermany's unemployment rate crept up to 6.7 percent in December due to seasonal factors and a more sluggish economy, but the labor market remained robust and the average number of people out of work last year was the lowest in more than two decades.The unadjusted jobless rate rose from 6.5 percent in November, the Federal Labor Agency said Thursday. Some 2.84 million people were registered unemployed...
Japan's finance minister in Myanmar with development pledges
Labels: BusinessNAYPYITAW, Myanmar (Reuters) - Japan's new government confirmed its support for the emerging democracy in Myanmar on Thursday when Finance Minister Taro Aso visited the country to reaffirm Japan's intention to cancel debt and help develop a big industrial zone.Myanmar has implemented rapid economic and political reforms since President Thein Sein's quasi-civilian government took over from a long-ruling...
Uganda holds key rate with eye on growth, inflation
Labels: BusinessKAMPALA (Reuters) - Uganda's central bank held interest rates on Thursday, treading a path between managing inflation and supporting an economic upturn it said would likely lead it to cut borrowing costs in the coming year.With the country's currency under pressure, traders and analysts had mostly expected the Central Bank of Uganda to leave the key lending rate at 12 percent - ending a run of growth-boosting...
Botswana GDP growth at 1.1 pct q/q in Q3 2012
Labels: BusinessJOHANNESBURG (Reuters) - Botswana's economy grew by 1.1 percent quarter-on-quarter in the third quarter of 2012 after rising by a revised 0.3 percent in the second quarter, data from the Central Statistics Office showed on Thursday.On a year-on-year basis growth was at 5.7 percent in the third quarter compared with a revised 8.5 percent in the previous quart...
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