US demands Russia ‘immediately’ lift meat ban


The United States has urged Russia to “honor its obligations” as a WTO member and “restore market access for US meat and meat products immediately.” Earlier the Russian food watchdog claimed the ban over additive ractopamine will be long-term.

China overtakes US as world’s largest trading country


China has passed the US as the world’s biggest trading nation as measured by the sum of exports and imports in 2012. It’s a position the US has held for over six decades.

‘Burgernomics’ show Russian rouble still highly undervalued


The Economist has released its so-called Big Mac index where Russian rouble finds itself in the top ten of the world’s undervalued currencies.

Interest rates in Russia to stay high as Central Bank fights inflation


The Central Bank of Russia is between rock and a hard place, as high inflation is leaving no room to ease monetary policy. Both politicians and businessmen say interest rates should be lower to spur economic growth.

Visa sued by Australian competition regulator for abuse of market power


Credit card giant ‘Visa’ has been sued by Australia's competition watchdog for misusing market power to boost profits. It allegedly barred customers and retailers from using currency conversion systems of their choice when doing business.

China's Geely buys maker of London black cabs


Chinese auto giant Geely bought financially troubled Manganese Bronze Holdings (MBH), manufacturer of the iconic London Black Taxi. The cost of the deal is 11.04 million British pounds ($ 17.44 million).

Russia temporarily bans US meat imports


Russia has imposed a temporary ban on US meat starting in February. The restrictions were enacted after the US Veterinary Service failed to meet regulations for levels of ractopamine, which stimulates muscle tissue growth.

Global manufacturing is on the rise in January, but optimism muted


Manufactures in key world economies including Russia have enjoyed an improved start of the year, says an HSBC report. However, market experts remain restrained about the results, seeking further evidence a turnaround is here.