St. Petersburg Economic Forum
The St. Petersburg International Economic Forum brings together politicians and corporations from around the world on June 21-23. Politicians and executives will gather in Russia at a time when the so-called BRICs and other emerging markets are playing an increasingly role in the global economy amid the European debt crisis. Follow the breaking news, in-depth reports and videos from the debate at St. Petersburg.
President Vladimir Putin asked the chief executive officers of U.S. and European energy producers to grant Russian companies access to international assets, holding out some of the world’s biggest untapped resources as a prize.
General Motors Co., facing continued losses in Western Europe, is more than doubling capacity at a factory in St. Petersburg that will make the new Opel Astra sedan as the Russian auto market rebounds, the company said.
Russia said it may surrender state control of its largest oil producer as President Dmitry Medvedev urged a bigger privatization program to lure investors and speed up the lowest rate of growth among major emerging economies.
President Vladimir Putin unveiled a plan to jolt Russia’s economy out of the worst growth in four years, promising to help the central bank cut inflation and pledging about $14 billion of savings to revamp roads and railways.
A bizarre sight greeted selected guests at this year's St. Petersburg Economic Forum, Russia's version of Davos: four little girls in silver face paint and metallic headdresses, confined from their necks down in the walls of a chrome-plated bath, blowing at paper boats under a hot sun.
Wall Street is headed to Russia as President Dmitry Medvedev tries to lure investors with state asset sales and revive the allure of the slowest-growing economy among the major emerging nations this year.
Russia is poised to suffer less than its emerging-market peers from Ben S. Bernanke’s plan to halt the Federal Reserve’s unprecedented quantitative easing program because most of the hot money it created went elsewhere.