Ukraine government presses Europe ambitions, ignores Russia
OAO Sberbank, the nations largest lender, rose 3 percent to 102.64 rubles, the highest level on an intraday basis since May 29. The U.S. Federal Open Market Committee said yesterday after a two-day meeting that it wants to see more more evidence that economic progress will be sustained before adjusting the pace of its $85 billion in monthly purchases of Treasury and mortgage debt. The Micex advanced an average 77 percent during the Feds first two rounds of bond buying, and fell 0.6 percent in periods of no stimulus, the biggest difference among 46 emerging and developed markets tracked by Bloomberg. The Feds decision came as a big surprise, Vadim Bit-Avragim, who helps manage about $4.4 billion at Kapital Asset Management in Moscow, said by phone. Emerging markets couldve suffered significantly from a cut to liquidity. Downside Risks While downside risks to the outlook have diminished, tightening of financial conditions observed in recent months, if sustained, could slow the pace of improvement, the central bank said in Washington. Economists had forecast the FOMC would dial down monthly Treasury purchases by $5 billion, to $40 billion, while maintaining its buying of mortgage-backed securities at $40 billion, according to a Bloomberg News survey. This is a very positive signal for Russian bank shares, Kapitals Bit-Avragim said. Banks are the main beneficiaries of this decision now that were seeing the ruble rally. The ruble increased 0.7 percent to 31.6025 against the dollar in the 10th day of gains, poised for the longest winning streak on record. VTB Group, the nations second-biggest lender, added 1.2 percent to 4.431 kopeks in Moscow and 3.3 percent to $2.8 in London. Sberbank, which accounted for about 45 percent of retail deposits in Russia as of April 1, soared 5.9 percent to $13.01 in London. Overbought Stocks The Micexs 14-day Relative Strength Index rose to 73.17 today, above the level of 70, which suggests to some analysts that a security has been overbought and is poised for a decline. It closed at 67.36 yesterday. The RSI measures how rapidly prices have advanced or dropped during a specified time period. Crude oil, Russias main export earner, added 0.5 percent to $108.63 in New York, gaining for the second day.
McCain tells Russia Putin ‘doesn’t believe in you’
The website Pravda.Ru is not known as a serious news source and has nothing to do with the newspaper Pravda published by the Communist party, which was the country’s most important paper in the Soviet era but which has now fallen into obscurity. Some observers have said that the publishing company Pravda.ru is bankrolled by the Kremlin, as it also runs websites that are staunchly pro-Putin and full of stories smearing his opposition. McCain’s piece was sent to both Pravda publications, his office said. Putin in his widely quoted New York Times piece criticised Obama’s plan to bomb Russia’s ally Syria, demanded that Moscow’s plan to secure Syria’s chemical weapon stockpiles be given time to work, and slammed Washington for “relying solely on brute force” to conduct its international affairs. In a blunt, often personal counter-punch that ran more than 800 words, McCain wrote that he bears no ill will toward the Russian people, only the country’s government which he says ignores humanity’s “inalienable rights” of life, liberty and the pursuit of happiness. “President Putin and his associates do not believe in these values. They don’t respect your dignity or accept your authority over them,” wrote McCain, who was a staunch supporter of US President Barack Obama’s early plan for a military strike against Syria for that regime’s apparent use of chemical weapons. “They punish dissent and imprison opponents. They rig your elections. They control your media. They harass, threaten, and banish organizations that defend your right to self-governance,” he added.
The stark disagreement over blame for the attack may complicate discussions among security council members Russia, China, the United states, Britain and France over a western-drafted resolution to eliminate Syria’s chemical weapons. “We are surprised by Russia’s attitude because they are calling into question not the report, but the objectivity of the inspectors,” French foreign minister Laurent Fabius said in Paris on Wednesday. “I don’t think anybody can call into question inspectors that have been appointed by the UN,” said Fabius, who met Lavrov in Moscow on Tuesday and said several aspects of the UN report clearly pointed to Syrian government involvement. Meeting Assad Russia has been Assad’s most powerful backer during the conflict that has killed more than 100,000 people since 2011, delivering weapons and with China blocking western efforts to use the security council’s clout to pressure his government. Moscow argues that the danger emanates from rebels, many of whom harbour militant Islamist ambitions for Syria that could ultimately pose a threat both to Russia, which is fighting against Islamist militants on its southern fringe, and the west. In his meeting with Ryabkov, Assad voiced appreciation “for Russia’s stances in support of Syria in the face of the vicious attack and … terrorism which is backed by western, regional and Arab forces”, Syrian state news agency SANA said. The draft resolution is intended to support a US-Russian deal reached on Saturday calling for Syria to account for its chemical weapons within a week and for their destruction by mid-2014. The accord was based on a Russian proposal accepted by Assad. The deal halted efforts by US President Barack Obama to win Congressional approval for military action to punish Assad for the gas attack, which the United States says killed more than 1,400 people in rebel-held areas. US secretary of state John Kerry called on Tuesday for a resolution with the strength to force compliance from Assad. Diplomats said the current US-British-French draft was written so that its provisions were under Chapter 7 of the UN charter, which covers security council authority to enforce its decisions with measures such as sanctions or force.
Russia to show ‘evidence’ of chemical weapons used by Syrian rebels
Sent! A link has been sent to your friend’s email address. 2 To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Putin says no discrimination of gays in Russia AP 1:36 p.m. EDT September 19, 2013 Russias President Vladimir Putin gestures during a press conference at the end of the G-20 summit in September. (Photo: Alexander Nemenov, AFP/Getty Images) Story Highlights Putin says he could run for a fourth presidential term in 2018 Putin insisted the law bans only “propaganda of non-traditional sexual relations among minors.” He argues the law is “no infringement on the rights of sexual minorities.” SHARE 29 CONNECT 33 TWEET 2 COMMENTEMAILMORE VALDAI, Russia (AP) President Vladimir Putin has denied gays face discrimination in Russia, saying that a new law that has drawn protests worldwide does not infringe on their rights. Putin on Thursday insisted the law bans only “propaganda of non-traditional sexual relations among minors.” He argues that it is “no infringement on the rights of sexual minorities.” The law has prompted calls for boycotts of the 2014 Winter Olympics hosted by Russia in Sochi. Putin says while some European nations have allowed gay marriages, “the Europeans are dying out and gay marriages don’t produce children.” He added that heterosexual couples should have more children to reverse a population decline, saying “let us make our own choice, as we see it for our country.” Putin also said Thursday, that he could run for a fourth presidential term in 2018. If he serves four terms, that would keep him in power for about a quarter century and make him the nation’s longest-serving leader since Josef Stalin. Putin, who served two consecutive four-year terms starting in 2000, became prime minister in 2008 to observe a constitutional limit of two consecutive terms. Putin continued calling the shots as premier with his longtime ally, Dmitry Medvedev, serving as a placeholder. Medvedev initiated a law that extended the presidential term to six years, and Putin won a third term in 2012 despite major public protests in Moscow against his rule. SHARE 29 CONNECT 33 TWEET 2 COMMENTEMAILMORE Copyright 2013 The Associated Press. All rights reserved.
Seperate multiple addresses with Commas. Must enter an email address. You must enter the verification code below to send. Invalid entry: Please type the verification code again. September 19, 2013, 1:17 p.m. ET Cargill Starts Construction of $200 Million Oil-Crush Plant in Russia Text By Anna Prior Cargill Inc. said it plans to open a $200 million sunflower-oil-crush plant in Russia in time for the 2015 harvest. Cargill, one of the world’s largest privately held companies, said Thursday it has begun construction on the facility in the Volgograd region of southern Russia, and expects the new plant to process up to 640,000 tons of sunflower seeds annually. The company, which operates businesses ranging from grain handling and meat processing to energy trading, said the plant will serve Cargill’s food and feed-industry customers both in Russia and around the world. “This investment is in line with our strategy to focus on the growth and development of our offering to farmers in Russia,” said Andreas Rickmers, head of Cargill’s grain and oilseeds business in Europe. “We are pleased to make this investment as Russia is an important strategic market for us and we continue to see excellent potential in the country’s agricultural sector.” Last month, Cargill reported its fiscal fourth-quarter earnings soared on strength in its grain-handling and food-ingredients businesses, as the company overcame the lingering effects of a historic U.S.
Cargill Starts Construction of $200 Million Oil-Crush Plant in Russia
“We believe we must make every effort for Tymoshenko to be freed before the Vilnius summit,” Iryna Gerashchenko, a deputy for the opposition party UDAR, told Interfax-Ukraine. “Even though the signing is important to the EU and Ukraine, the EU will never be able to close its eyes to the violation of fundamental values such as human rights, including the right of defence in a court and the right to justice,” she said. Azarov, taking a lead from President Viktor Yanukovich, said Kiev would meet the criteria for democratic progress laid down by the EU as pre-conditions for signing in Vilnius. Kiev has come under pressure from Russia, its former colonial master and still biggest single trading partner, which wants to entice it instead into a Russia-led Customs Union. KREMLIN PRESSURE Russia fears a flood of competitive goods on the Russian market if Ukraine joins an EU free trade zone. It has warned Kiev of retaliatory action and said it will forfeit special partner status if it signs up with the EU. The pressure has injected new tension into Moscow’s relationship with Ukraine, which has pleaded unsuccessfully for cheaper Russian gas to help its hard-pressed economy. Azarov said on Wednesday: “Our state is changing radically – and that brings relief to some and concern to others …” He said the EU agreements contained nothing that could harm prospects for deepening cooperation with Russia and its allies. He spelled out immediate trade advantages for Ukraine – whose economy is dominated by exports such as steel, chemicals and agricultural produce – saying there would be softer duties on Ukrainian exports almost immediately. The pressure from Moscow forms part of a broader drive by Russia to deter former Soviet allies from edging out of its orbit and moving their economy and future trade towards the EU. Moldova, a small neighbour of Ukraine which hopes to initial similar agreements with the EU, has been warned of retaliatory action, including possible cuts in Russian gas deliveries. Russia banned Moldovan wines and spirits last week, saying they contained impurities.