The BRICS New Development Bank and the Asian Infrastructure Investment Bank (AIIB), both seen as alternatives to US – led institutions, will not compete, but rather complement each other, said the head of the Central Bank of Russia Elvira Nabiullina. Nabiullina made the statement Thursday in Washington where she is attending the spring meetings of the International Monetary Fund and World Ban [...]

Hundreds of political activists will gather in London on Saturday to protest a controversial EU-US trade agreement campaigners warn will enhance corporate power, and promote the privatization of vital public services. The trade deal, known as the Transatlantic Trade and Investment Partnership (TTIP), is currently being negotiated behind closed doors in Brussels. It has been the subject of heate [...]

The Russian ruble has hit 55.3 to the dollar Monday, its highest value this year. The currency has become the best performer during the first three months of the year, after it finished 2014 as one of the biggest losers. The ruble gained above one percent against the US dollar, standing at 55.3 and at 60.8 to the euro at the closing on Moscow Exchange on Monday. [...]

The European Central Bank will kick off its monthly €60 billion purchases of government bonds and private sector assets next Monday, said the head of the ECB Mario Draghi. "We will on 9 March 2015 start purchasing euro-dominated public sector securities in the secondary market. We will also continue to purchase asset-backed securities and covered bonds which we started last year,"Draghi told [...]

Ukraine has agreed to increase the cost of gas to consumer by 280 percent, and 66 percent for heating, as part of the IMF terms for getting extra financial aid, says Valery Gontareva the head of the National Bank of Ukraine. "From now on, in accordance with our joint program with the IMF, the tariffs will see rather a sharp increase of 280 percent for gas and about 66 percent for heat," said Go [...]

Tuesday protests outside the president's offices in Kiev are just a part of a bigger picture of discontent grasping Ukraine, journalist Neil Clark told RT. With the economy worsening, former Maidan allies are now angered and splitting up. Is this a small pocket of discontent or are we seeing something wider here? [...]

The hryvnia lost 34 percent against the US dollar after the head of the central bank signaled it can no longer support the currency with regular interventions and will allow greater fluctuations. The hyrvnia hit a historic low of 24.5 per 1 USD. “Get used to market volatility," National Bank of Ukraine (NBU) Governor Valery Gontareva told reporters in Kiev on Thursday. [...]

Globalization is a barbarity, believes Marine Le Pen, the leader of France’s far-right National Front party, adding that now the world is in hands of multinational corporations and large international finance. “Globalization is a barbarity, it is the country which should limit its abuses and regulate it [globalization],” Le Pen wrote on her Twitter account. [...]

Ukraine's GDP shrank by 7.5 percent from January till November 2014, as foreign exchange reserves fell to their lowest level since 2009, and inflation jumped to 21 percent by November, admits the head of the Ukraine's National Bank, Valeriya Gontareva. The country’s foreign exchange reserves shrank to $9.9 billion, as Kiev gave Naftogaz an estimated $8.6 billion to buy gas and settle state gu [...]

The number one crude oil exporter, Saudi Arabia, has projected a $39 billion deficit in 2015. The impact of lower oil prices, along with the decision not to cut production, is putting pressure on the country’s finances. The figure was part of the endorsed 2015 budget, which was made public in a statement read out on state-run television on Thursday. [...]

Tycoon Alisher Usmanov has become the first Russian businessman to bring the controlling stakes of his key assets, mobile phone operator Megafon and iron ore producer Metalloinvest, back to Russia, after President Putin urged companies to de-offshore. "This step is related to the announcement by President Vladimir Putin of pursuing the de-offshorization of the Russian economy and the introducti [...]

Direct trade between India and Russia in rough diamonds is a diplomacy gem which was a Russian initiative buttressed by some quick decision-making by Prime Minister Narendra Modi. The matter has been under discussion through the diplomatic channels between the two countries for quite some time and came up in a brief discussion between visiting Russian President Vladimir Putin and Modi during th [...]

When President Putin makes his lightning one-day visit to India, the main thing on his mind will be power. He'll be discussing nuclear cooperation and energy when he meets Prime Minister Modi. “Nuclear energy cooperation is one of the pillars of our strategic partnership. We concluded two inter-governmental agreements in this field in 2008 and in 2010,” Putin said in an interview with India [...]

Ukraine's anti-government CyberBerkut hacker group published documents allegedly showing Kiev's detailed demands for money from the US military, and Washington agreeing to giving them support. According to hacktivists, who made the documents public on Tuesday, the Ukrainian military have recently been asking for and being promised financial support from the United States, worth hundreds of thou [...]

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 [...]

The Russian ruble continued its fight back on Friday to move above 46 against the US dollar, as the price of Brent crude slid over the $80 per barrel threshold. The US dollar has fallen to 45.62 rubles Friday at 3PM Moscow time on the Moscow Exchange. The euro has fallen to 56.69 rubles. [...]

It's been a year since thousands of peaceful protesters took part in the initial Euromaidan rallies in Kiev, hoping for a brighter future. Since that optimistic start, the state has been torn to shreds and now its very future is in doubt. Ironically, Maidan was the cause, although it's probable that, eventually, Ukraine would have come to conflict by other means. [...]

Formula 1 boss Bernie Ecclestone says "third world" Europe is finished and some British industrialists agree. However, the reality is far more complicated. It's not the continent that's finished - it's Europe's neoliberal elites who are in peril. Andy Street, the managing director of Britain’s prestigious retailer John Lewis claimed recently that France was “finished.” [...]

It's astounding that the EU and US don't realize that by limiting Russia's access to international capital, they're actually undermining the financial wellbeing of Ukraine, which is credited by Russian banks, Vladimir Putin told German TV channel ARD. The Russian President said that the country's banks "have currently extended a $25-billion loan to the Ukrainian economy.” [...]

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? [...]

Doing away with the US dollar and switching to ruble and yuan payments will significantly increase Russia and China's say in energy and financial markets, Vladimir Putin has said, adding that the first deals are already underway. In short the President said the US dollar has no future, and that the ruble and the yuan have better long-term prospects. [...]

25 years ago, Hungary was being toasted in the West for opening its border with Austria to East Germans, in a move which led to the fall of the Berlin Wall. Now the Western elites are not happy with Budapest which they consider far too independent. The refusal of Prime Minister Viktor Orban and his ruling Fidesz party to join the new US and EU Cold War against Russia, which has seen the Hungari [...]