Economics

Islamic finance will help Russian companies make up for their credit shortage, which was in large part caused by the cooling of relations between Russia and the West. Russian banks are already showing interest in this alternative form of credit. Islamic finance could help Russian companies hit by …

ST PETERSBURG — Igor Sechin, the head of Russia’s top oil producer Rosneft, said on Wednesday the United States is calling the shots on global oil markets, while the influence of OPEC has shrunk. The United States emerged with renewed vigor as a top producer thanks to its shale boom. By refusing to curb its output to prop up oil prices, OPEC …

Last year, Russia’s flagship economic forum in St. Petersburg, traditionally held in June, was moved forward to May to make room for a meeting of the G8 group of industrial nations in the Russian resort town of Sochi. The meeting in the host city of the 2014 Winter …

The number of companies that applied to attend Russia’s St. Petersburg International Economic Forum 2015 scheduled to take place later in June is growing and the event’s geography is expanding, St. Petersburg governor Georgy Poltavchenko said. ST.PETERSBURG (Sputnik) — The St. Petersburg International Economic Forum has been held annually …

By Velbona Zenelli The economies of the Western Balkan countries — Albania, Bosnia & Herzegovina, Republic of Macedonia, Montenegro, Kosovo and Serbia — still lag behind the rest of Europe. The regional average income levels fluctuate from an annual level of $5,300, to as low as only 31% …

European countries, international creditors and the Greek opposition have declared a war on Greece (resembling the one on Yugoslavia) but the government will stay true to its election promises, Labor Minister Panos Skourletis of Syriza said.  “The months following the elections were extremely hard. Never before has the government, which …

By Eric Zuesse Interviewed on June 6th by German Economic News, the chief economist at Bremer Landesbank, Folker Hellmeyer, says that because of Obama’s sanctions against Russia, German exports declined year-over-year by 18% in 2014, and by 34% in the first two months of 2015 (no later figures), but he …

Nicolas Bonnal of Boulevard Voltaire believes Russia is lucky that it wasn’t invited to the G7 summit this year, comparing the group to the company of hypocritical “idiots.”  As the West is reaching new heights of absurdity, Russia should be happy that it didn’t end up in the company of …

According to a report in Oil Price.com “major discoveries in Uganda and Kenya, high-level production activities in Sudan and even exploration in war-torn Somalia,” as well as the North African country of “Eritrea should be on everyone’s radar.”  In 2009, Eritrean President Isaias Afwerki revealed that there is …