Russia News
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OAO Sberbank, Russia’s largest lender, engaged Deutsche Bank AG and Troika Dialog to advise it on the possible acquisition of Dexia SA’s Turkish subsidiary Denizbank, Kommersant reported, citing unidentified people close to Sberbank.
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The euro weakened against the yen for a sixth straight week, matching a string of losses ended in June 2010, after Italy and Spain saw their ratings cut even after the European Central Bank said it would aid regional banks.
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Emerging-market stocks rose, driving the benchmark index to its biggest three-day gain since May 2010, on speculation European leaders may ease pressures on the banking system and as U.S. firms hired more workers.
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England, playing with 10 men, held on for a 2-2 tie against Montenegro to clinch a berth at the 2012 European soccer championship.
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U.S. stocks fell, halting a three-day rally, and the euro reversed earlier gains versus the dollar after Fitch Ratings cut debt ratings on Spain and Italy. Treasuries slid, sending the 30-year yield above 3 percent.
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The worst declines since at least 2008 for emerging-market currencies may have further to go as the debt and banking crisis in Europe buffets economies once resistant to the global slowdown.
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Republican presidential hopeful Mitt Romney today accused President Barack Obama of bowing to global adversaries and promised, if elected, to boost America’s military strength by expanding the Navy and missile defenses.
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Almost 20 years ago, shortly after India’s protectionist economy was liberalized, I moved to Mashobra, a small village in the North Indian hill state of Himachal Pradesh. The rent on my cottage was low. Food was cheap; the climate, mostly good; and -- an unexpected bonus in India -- the air and water were clean.
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Mukhtar Ablyazov, the ex-chairman of Kazakhstan’s BTA Bank, lost in a bid to delay a U.K. trial over whether he should be jailed for violating an asset freeze in the lender’s fraud case against him.
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Russia agreed to lend Venezuela $4 billion through 2013 for defense spending in return for gaining access to heavy crude and offshore gas fields in the South American country.
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