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.
The Federal Reserve will release minutes from its April meeting at which the Federal Open Market Committee said it would cut bond buying as the economy picks up after winter weather slowed first-quarter growth.
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.
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.