Milk is overflowing in Europe for a lot of reasons, chief of these is that Russia has stopped the importation of milk while Chinese demand has lessened. There is so much splashing around the European Union that makes milk always less expensive than bottled water. In U.K., a liter of bottled water costs $1.50 while a liter of milk costs only $1. The same is almost true in France. In German supermarkets like Aldi and Lidl, a liter of milk costs only about 55¢ while a liter of bottled water costs around 72¢.
Tags: Russia
Bank of America sees signs of recovery in Russian economy
Bank of America Corp (BofA) has turned positive on Russia's economy as it started seeing signs of recovery in near future though on a weaker note. The drastic slowdown in capital investment is gradually easing off. Russian economy seems to have bottomed out. Russian gross domestic product (GDP) shrunk 4.6 percent during the second quarter.
Google faces lawsuit against dominance abuse in Russia?
Google is facing a lawsuit against dominance abuse in Russia. The company has nothing to say at the moment until Russia's Federal Antimonopoly System’s decision comes out.
Facing sanctions, Deutsche Bank withdraws few services from Russia
Being faced with several odds in Russia, Deutsche Bank has decided to withdraw some of its services from Russia. The alleged share trading by Russian unit of Deutsche Bank has become subject to investigation in the US. The German bank may stop 90 percent of its banking services in Russia soon.
Is Russia bottoming out?
The latest data for August shows that Russia's economy is showing signs of slowing down. But the rate of decline is moderating, the real sector data is giving a sigh of relief as the worst conditions in the economy are softening, if not improving.
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Russia has come up with a new law that empowers the government to not only block websites but also orders them to share data of Russian citizens.
Russia's Mobile TeleSystems (MTS) partnered with Google to improve its mobile internet service. The deal will highlight Google Now voice search, advertising and promoting it on MTS outlets. The voice command app would be pre-installed on Android devices available on MTS retail chains.
With sanction being waived off, Iran's underdeveloped oil and gas sector is now open to global investors. Six global powers- the US, the UK, Germany, Russia, France, and China- have agreed on a deal to lift sanctions on Iran with conditions.
Russia's offer to support Greece wouldn't be a surprise considering the close ties between these two countries. However, some experts have an interesting view of the impending scenario.
Universal and Illumination Entertainment's Minions had made it as the second biggest animated movie when it was first shown in cinemas on July 12, ending the week with $115.2M next to Shrek the Third ($121.6M) in 2007 and beating Toy Story 3 ($110.3M) in 2010.
Oil prices dropped on Friday as a rising U.S. rig count stoked more concerns about global oversupply while an investigation by Chinese regulators into suspected stock market manipulation further unsettled the market.
Russian President Vladimir Putin must be finding it hard to contain a wry smile as the European Union struggles with Greece's debt problems.
Euro zone leaders will hold an emergency summit on Monday to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped as Athens and its international creditors remain deadlocked over a debt deal.
Boeing (BA.N) won breathing space for its struggling jumbo jet on Wednesday with a preliminary deal for 20 of its 747-8 freighters from Russian cargo airline Volga-Dnepr Group.
