European companies now have the opportunity to settle trading accounts in Chinese yuan. The Bank of China in Frankfurt has become the first to operate European yuan clearing. Trading costs will be cut as there will be no dollar exchange first. More than 10 German regional and international banks including Deutsche Bank, Commerzbank, DZ Bank AG, and Landesbank Hessen-Thueringen Girozentrale, hav [...]

Settlements in yuan between China and Russia have increased ninefold in annual terms between January and September 2014, says the Chinese Ministry of Economic Development. "The settlement in national currencies between China and Russia in bilateral trade amounted to about 2 percent in 2013. [...]

The eurozone has huge problems and is holding back the global economy from growing, however the world in general is doing ok, Jim O'Neill, former chairman of Goldman Sachs Asset Management, told RT. Europe's had a hard time economically in the last few years, with 2014 seeing an especially sharp slowdown in growth. What's behind this poor performance? [...]

Saudi Arabia has unleashed an economic war against selected oil producers. The strategy masks the House of Saud,s real agenda. But will it work? Rosneft Vice President MikhailLeontyev; “Prices can be manipulative…Saudi Arabia has begun making big discounts on oil. This is political manipulation, and Saudi Arabia is being manipulated, which could end badly.” [...]

Western nations are fond of using “democracy promotion” as a justification for interfering in other countries, including overthrowing elected leaders (as in Ukraine). But Western democracies themselves often fall short of democratic values, as John Chuckman explains. I read and heard about Hong Kong’s students putting themselves at risk demonstrating for democracy, and my first instinct w [...]

The worlds' biggest hotel operator Hilton Worldwide has sold the iconic Waldorf Astoria in New York to a Chinese insurance company for nearly $2 billion, a record for a US hotel. The deal marks the continued Chinese real estate shopping spree in America. Hilton Worldwide Holdings sold the historic landmark to Beijing-based Anbang Insurance Group for a record breaking $1.95 billion, which is the [...]

Three class-action lawsuits filed Friday claim that agribusiness power Syngenta is to blame for depressed corn exports to China since the seed company released a genetically-engineered variant of the crop before it was approved by Beijing. At issue is Syngenta’s 2009 release and distribution of its MIR162 genetically-modified corn known as Agrisure Viptera, which is engineered to fend off cer [...]

ISIS militants trained by US Special Forces have been used as a lever to create disorder and organize a Sharia state along the lines of an Islamic caliphate to the advantage of the US military, geopolitical analyst William Engdahl told RT. The US military has, in one way or another, been involved in the Middle East region for over a decade. Why has the violence lasted so long? [...]

Heads of state of the Shanghai Cooperation Organization say that the crisis in Ukraine is spilling beyond the borders of the country and needs immediate action, while stressing that the only solution to the conflict lies in dialogue and consensus. At a press conference following the summit President Putin said the leaders had touched upon various issues of international politics, including thos [...]

The American fast-food giant witnessed a sharp decline in global profits in August, hit by the closure of its restaurants across Russia and a "rotten meat" scandal in China. McDonald’s earnings slid with stores open at least 13 months taking a worse-than-expected hit in August, falling 3.7 percent, the Oak Brook, Illinois-based hamburger chain said in astatementon Wednesday. This is the bigge [...]

Argentina will receive the first tranche of yuan worth up to $1 billion in a massive currency swap with China before the end of this year. The deal will boost the troubled economy's foreign reserves. It comes as part of a loan worth $11 billion signed in July by Argentina's President Cristina Fernandez de Kirchner and Chinese counterpart Xi Jinping during hisLatin America tour- shortly before t [...]

Moscow's 15-month marathon of energy deals with China will boost the credit of Russian oil and gas companies and reduce Russia's reliance on European energy markets, Moody's Ratings Agency said in a note. Russia’s oil majors- Rosneft, Gazprom, and Novatek have all struck major deals with Chinese partners, which provide long-term financial stability for the companies, which are at risk of West [...]

Beijing is calling on Washington to scale back, or cancel, aerial surveillance of the Chinese mainland, since such a practice represents a security risk and a deterrent to better bilateral relations - otherwise it is ready to take measures. Relations between China and the United States have been increasingly tense since the US shifted its foreign policy focus – together with a beefed up naval [...]

Traveling from Shanghai to San Francisco in under two hours may sound like a fantasy, but China believes it's figured out how to design an underwater vehicle that can make the idea a reality. More worryingly, though, is the possibility that the technology will be used to develop even more dangerous weaponry. [...]

Following revelations of America's National Security Agency's global internet surveillance system, combined with a desire to enhance domestic production, China is beating a path towards unveiling its own operating systems in October. The Chinese-made substitutes would first be introduced on desktop devices, later expanding to include smartphones and other hand-held devices, Ni Guangnan heads an [...]

In a surprise U-turn, China's Ministry of Agriculture has decided not to continue with a program which developed genetically-modified rice and corn. Some environmentalists say public concerns about GM crops played a key role in the decision. On August 17, when these permits were up for renewal, the Ministry of Agriculture decided not to extend them. In 2009, the ministry's Biosafety Committee i [...]

Russia and China plan to increase technology cooperation, with Moscow set to increase exports of software in exchange for data storage, Russia's Communications Minister said. Nikolay Nikiforov, head of Russia's Ministry of Communications, announced via Twitter that Russia and China have agreed to increase the supply of Chinese servers and storage systems and production in Russia, and to boost t [...]

Forget Visa and MasterCard. After the two American credit system payment companies froze accounts without notice in March, Russia has been looking for an alternative in China UnionPay. China UnionPay plans to have 2 million cards in Russia in the next three years. [...]

The Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments. “The draft document between the Central Bank of Russia and the People’s Bank of China on national currency swaps has been agreed by the parties,” and is at the stage of formal approv [...]