money the summit kicked off with a business forum and their president urged the g twenty to create a favorable environment for medium and small businesses he really believes that that will get global recovery going for the first day is very much set up for bilateral meetings president medvedev met with british prime minister david cameron there the dialogue very positive both saying they see eye to eye on many of the top priorities of the g twenty and of course the top priority is the economy which you can't talk about these days without china president medvedev will be meeting with hu jintao and there the dialogue is expected to focus on u.s. financial policy which right now the world is not very happy with what the u.s. just pumps six hundred billion dollars into its economy essentially devaluing the dollar while at the same time pushing pretty intensely on china to revalue its currency its pushing on germany to lower its exports to spend more to help global

recovery so there is an air of hypocrisy and leaders around the world are seeing this protesters are seeing this artie's alice hebert takes a closer look at this high stakes battle for the world's currencies they'll be plenty of soul searching at this g. twenty for the south korean capital it underlines its economic awakening but there are major spots around his country circle the wagons while others try to cool the schulze then there's the problem to the north. this year's g. twenty is being billed as the financial coming out of the end of to south korea proof of just how far the country's come in the nearly sixty years since the end of the korean war once poorer than it's a northern communist neighbor and now the thirteenth longest economy in the world north korea may just slide some fool kilometers north of this freedom bridge and demilitarized zone but economically the two palms this. threat from the democratic

people's republic looms particularly large and solace in taking any chances with security forces on high alert but it's another conflict on the g. twenty leaders minds the outbreak of the so-called currency war the us lead the charge accusing china of cheating world trade by also officially weakening its currency it was the one to be bolstered the united states is going to try and saying we want you to commit economic suicide just like japan did we want you to follow the same thing we want you to revalue their currency we want you to squeeze your companies we want you to go bankrupt or you can imagine what the chinese are laughing thinking here are you guys and yet washington stands accused of allowing its own dollar to windle whiling emerging markets whose own currencies are rising strongly and damaging their export competitiveness can plagues intensified after the federal reserve announced

a second print run of six hundred billion dollars the quantitative easing designed to get cash flowing but with other economies warry will float their market russia's president medvedev wants the summit to agree that when countries like the u.s. take big steps to save themselves that they consider the ripples it causes and get permission from the g. twenty first. so the russian position is that we need more coordinated approach we don't want surprises from partners. we want. a more. central banks finance minister. and this can lead to great some stability in the markets among other leading critics of germany the world's fourth largest economy its finance minister calling the us helpless i don't think the u.s. is making its case any stronger through the measures that is taking through printing dollars to weaken its own currency because that looks far too much like

a competitive devaluations one hundred european countries see it as a dangerous move because what it could do is increase the capital control around the world but that's not what barack obama wants to hear the president's call for germany along with china and japan to rely last all bad dominant export markets and spend more and who is pulling all of death is the truth is that no one is happy with today's international monetary system especially the dominance of the dollar as a reserve currency and america's management of it and what business leaders want the g. twenty to realize is that nations will have to fight their natural urge to try and protect their own countries trade and should boost foreign investment i listed it r.t. seoul south korea. well there we can now discuss the g twenty summit with gabriel of russian political journalist and news anchor at the t.v. channel a c i thank you very much indeed for joining us kerry here in the studio

and i want to russia's goals at the g. twenty and indeed the russian president dmitry medvedev what he had to get out of this well when you look at the. u.k. russian encounter suddenly g twenty becomes justified but if we think in terms of what it is all about we'll get confused what is argentina with all due respect doing in the g twenty it's not the of relevance economy why is spain absent spain trust the e.u. representatives so that the blige. in other words g. twenty is a nice sports for all those encounters especially on the fringes i can't really say the g twenty has become truly a jumper setting decision making authority there should be something in between g eight and g twenty isn't shouldn't that now having said that i'm not that pessimistic i think it's a good sports exchange views i don't think russia and brazil and india will be able to and china of course will be able to reconvince the americans especially given

the currency wars agenda however us having having said not being able to convince they will be able to share their concerns and the americans will be listening now you mention the currency wars there as the americans now washington says china should revalue its currency by the same time it's pumping billions of dollars into its own absolutely amazing double standards there would you say listen we are to stage one we all understand everything about economy but if we fail to explain how it works. superficially speaking i think both you and i would agree that we've seen something very dangerous in the global economy and that is the financial sector dominating over industries basically what we see now is americans pumping these dollars to the financial sector once again ignoring the industries including the nets and industries in the bric countries. well the american position is totally explicable i can't really argue with every conceivable sort it all depends on the states given the framework will be international financial system. i would pay more

attention to industries and that's exactly the position of the rest of it in fact i would be talking about different factions in the g twenty this actually begin to state and the rest of them actually remember the cartoon of george bush standing in front of. the rest. you can see some live pictures now so you have russian president dmitry medvedev here i think you know of course i think the photo call here at the g. twenty i mean it does seem to be consensus that the global economy is suffering from massive imbalances what is being done to tackle the russians view of this curiously enough now that we see the chinese presidency approaching his korean colleagues i would emphasize the initiatives at least the idea which is being discussed between russia and china and that is to switch into yuan and rubles in the bilateral trade now the chinese russian buy a little trade is not as huge as china is so they will not kill the u.s.

dollar but that's not an idjit now having said the key point here is which of the two currencies we're going to use rubble is the ruble is technically the most successful currency in europe it's if you look at the tape it's the same time the inflation which russia has suffered. is quiets in cressy was and has it's now lower than ten percent but it's still quite high you are the chinese currency on the other hand is one of the stable list but then it's on the political pressure from the from the united states that is to say we do have alternative versions options to switch national currencies as one thing that resolve all of our problems it will not and that's that's that's the that's the whole purpose of g twenty is to actually meet and discuss things and they sincerely hope that they will be not. not the sense of slogans following peace. mutual understanding and standing up to them but there for the rest of time so get rid of thank you very much and join us here

with those thoughts here nutty. russian newspaper says it has revealed the identity open than behind exposing eleven russian agents in the u.s. this summer claims he was a former foreign intelligence service employee but let's cross live not postpone it you know piskun off to find out more about this. and these are startling revelations really from the newspaper who is the person responsible. well first of all conversant newspaper has been holding its own independent investigation into this story and they say that cornel should of course who was an officer of the russian foreign intelligence service he worked reportedly undercover in the us migration service and we do we he is the person responsible for blowing the cover on his russian colleagues in the united states which basically resulted in the biggest spy scandal between moscow and washington since the cold war era now in the

russian internet there's a huge discussion going on on how almost managed to stay out noticed in front of a russian since previously before the scandal he was reportedly offered a promotion which she rejected reportedly because he had to go through the tax there and possibly that could have could have broken his back could have revealed him as a as a double agent for russian authorities and just several months before the spy scandal his daughter reported we left russia to the united states as well meanwhile also commuter sunt newspaper says that investigation is continuing into into what happened last summer and they see that the russian foreign intelligence. office says it will find and punish everybody responsible for the failure of that massive secret operation yes

a huge spy scandal as you say you remind us so that spy drama that unfolded over the summer and ended in that double agent swap between russia and the u.s. . well absolutely this was like i said one of the biggest spy scandals that just in modern history between russia and the united states in june american authorities announced that they've arrested a group of suspected secret foreign agents a russian agents who were working in the united states for years some have been working there for decades all of them were arrested and had undergone trial were found guilty of being on registered foreign agents and were deported to russia in exchange for four people who were serving time here in russia after having been found guilty of being foreign spies but now back then this summer everybody was talking about the chapman and one of the people in that group deported from the united states a very successful young and. young businesswoman everybody

started calling her the russian james bond girl and she really got most of the media attention back then and now we're getting reports also from arkansas newspaper about this another person a part of that group who's already been deemed a super agent this man's name is me with some cough and he'll have to sort the union in the nine hundred sixty s. first to spain then to south america he became a photographer there or traveled to the united states getting all these contacts in the government and among other officials he worked in the united states for decades and reportedly he became so undercover he reportedly forgot how to speak how to speak russian even and he was g nine the fact that he. it was a russian agent to the point reported we called. trying to make him make him speak russian and see that he was

a secret agent it was only one actually passed the secret documents proving this vet. also. actually admitted of being a secret agent so some of the interesting details are coming out in the story even though several months have passed since the stand no itself. it's interesting stuff in the. press can offer reporting there thank you for that. coming up in just a few minutes here in r.t. it's time to hit top gear. russia races into the formula one world with the country's first super carmaker buying a stake in a formula one t.v. . police in the u.k. have launched an inquiry into how the force handle wednesday student marches which turned violent riots broke out in london among tens of thousands of students protesting government plans to slash education spending cuts could see university

fees travel ten to use the country's massive budget deficit minister david cameron's arms. clashes which broke this. case. asked. james pryor until your campaign says the cuts result in the budget. we're sending forty eight million pounds a day forty eight million pounds a day to the e.u. i mean that's a huge amount of money i mean you know our cases are going if we pull out or least have a referendum on saying i'm pulling out would be saving that sort of money we can you know we can look at all sorts of other you know savings and all these vicious cuts that you know that cameron and clegg are bringing in the e.u. no no but. talk there you know you know this is an organization that hasn't had his accounts altered for fourteen years i think even right from the center just rejected the latest round of. accounts i mean you know this is that you know this

is an unelected group of people you know it is all down to interpretation i mean they're saying anything i think cameron's been completely misses rise in this and i think he's also missed the mood of the people i mean the people are really now showing you know that we know we can't stand that he's cut down to interpretation is one hundred twenty billion we send over them we get money back and yes absolutely of course we do go to break it down to term that we can all understand it's the equivalent of our sending them two pounds sixty and they give us a pound bag that doesn't make sense to me that was doing. with his thoughts there now russia is set to burst on to the formula one scene in full force moscow based super carmaker has bought out virgin racing's british formula one team is to be rebranded as virgin bracing for more on this we can now live to artie's tom barr to

tom what can you tell us about the super car maker mary see how it managed to get itself into one of the most new could be sporting events in the world. well yes kerry seem to rather exploded onto the scene let's start with the man behind the company or one of the co-owners of the company nicholai for menko a huge figure within russian racing a distinguished russian race driver and also the host of the russian version of the television motor show top gear this company. which is a coach it is a super car maker it's revealed already some very high performance cars and next year iran's waiting with bated breath because it does announce that early next year it will unveil its first f one car probably under stock under construction in the u.k. so there. as the company itself it has a factory in moscow it wants to build more front choose a new europe the company itself wants to build commercial cars as well as super

cars but now it has moved further into that glamorous sports of air worn by buying a large stake no figures mentioned yet but and possibly not a controlling stake but certainly according to reports a large stake in the virgin racing team in britain which makes it all the formula one teams of its cars are going to be on the track sooner rather than later on we'll see how they do the name itself but they're going to give it to see a virgin racing might attract a bit if you want to see a itself is a an informal version of the russian name the rear so what's the real virgin racing which might a chunk of humor from some pundits but before we start making jokes let's see how they do on the track. of course and then have to say for no one has never been quite as popular as other places but is there any special reason this sudden spike

of interest in the sport up. seems some more nervous some from somewhere the start of florida seems to be in well and truly waged in russia over the past few days has been little bits of news coming out about formula one the biggest of them i suppose in terms of russia in the formula one scene in the world is the deal stop with formula one after decades of waiting for russia to host formula one races in the southern resort of sochi after that city hosts the winter olympics in two thousand and fourteen the deal currently two thousand and fourteen to two thousand and twenty. the money going into that with the construction of the track and all the races could amount up to three hundred million dollars but the business of formula one being hosted by countries very lucrative business it's a. very popular sport also vladimir putin has been leaving the starting line and just in the last few days he hopped into work

a rare no one car and went up to two hundred forty kilometers an hour on roads near lending grads in the leningrad region near st petersburg this year vitaly petrov has become russia's first born driver so there's also lots of news about this russia seems to really taken this bull by the horns and with their form being the third most popular sport in the world now after football world cups. and the olympics it seems that it really wants to try and get itself into top gear and to try and get that interest whips up. and i'm sure you'd love to get behind the with one of those cars as well tom tom burton there for us thanks very much indeed. now in a few moments. of business stay with us. this is more region is economically and socially one of russia's better developed

provinces the region has a significant scientific and industrial capacity to realize its full potential after the construction of the. park can tell you as he has completed the id parkhouse r. and d. projects in the spheres of automotive construction aerospace and oil chemistry data center furbish with cutting edge servers and communication equipment will be constructed at the core of the park the project has been personally approved by prime minister vladimir putin the federal government is planning to allocate sizable funding for the parks construction investors will be given benefits such as property tax exemption low land rental prices and other preferences this is more regional government is open to mutually beneficial cooperation we invite investors to participate in existing projects and we are ready to give a hand of fulfilling your projects and growing your business in this small region.

and i welcome to the business program haleigh with me. first to the g. twenty summit to russian president dmitry medvedev has called for better access to domestic and foreign capital for small and medium sized businesses to global economic growth speaking at the g twenty business forum in south korea and to have said banks may need further encouragement to work we're actively with us i mean. the group of twenty policy makers to remove barriers a long time investment in developed countries to help emerging economies counter capital inflows the intimidated. the proposal would offset the money flooding into emerging markets by creating an incoming flow of capital to industrialized nations . discuss it develops twenty summit in more detail i spoke earlier to chris we fetch. it. you know this is a key issue for russia this is we've been a real bug bear over the last several years russia has accused the west of the like

of deliberately blocking investment from russian companies into the west into europe in particular of course we have that big route two thousand and five from russia tried to buy investment in. d.s. industries last year of course russia tried to buy general motors opel you know and the reason is because russia wants to establish these relationships with established foreign companies so that it can bring back that expertise to russian industries and the like that cooperation. arrangement then helping the russian companies to modernize become more efficient to make up if you like the lack of international experience in russian companies so it's a key part of russia's development and a key policy that it wants or so that we've heard from countries like brazil china complaining about the u.s. federal reserve's decision to pump action of the six hundred billions worth of money into the economy we have already had many complaints from russia why is that world because initially russia could actually benefit from that emulates in

a different situation to the other say so-called bric countries russia has not had a substantial amount of capital inflows in the last couple of years in fact quite the opposite flows in the last two years total almost two hundred billion so it actually could do it reversing some of the having taken some money back also the ruble is the cheaper end of the band so it's russia conservative with sustained some ruble appreciation again which would benefit the investment case and then frankly you know q e which is having the effect of weekend in dollar of course to counterbalance of that is weaker dollar means higher oil prices higher metal prices which russia's boosts russia's trade position as well as its fiscal position saw at least initially russia is one of the beneficiaries of capital flows that may change of course they are a year from now the priority of things to get money in. time not fail in markets that. four million here must go to a four wing with a mind six mil slipping into the red seventeen will soon after among the bigots be

helping lend support isn't real cynical which is putting on more than one percent. and european stock markets are trading for his losses for the financial sector earnings announcements from the likes of siemens and be cheap through in london bt shares rose three point one percent off the telecom serve increased its cool calls . promise to supply no less than ten billion cubic meters of natural gas per year to south korea starting in five years time at present russia supplies just liquefied natural gas to asia in modest volumes but plans to deliver as much gas to region as it sends to europe such an employer covert reports. asia in poor it's just one twentieth of the gas that russia supplies to europe japan india and south korea receive a billion cubic meters of liquefied natural gas from russia by tanker but their reason room for growth visiting small head of gas pramod like say miller says these

market alone expanding by fifteen percent within the decade. is in our korean partners are interested in increasing the gas supply into the korean market and today we were greeted with the coal gas company on the fact that we move to the next stage of negotiations gazprom is also in talks with china as ever the sticking point is prize gas consumption in china is expected to balloon to two hundred billion cubic meters a year offering a new export market for russia but analysts say russia should keep its western gas fields for europe and supply eastern consumers from annual tap first of all we must think about the increase of production in spite of russia it's very important for us because we know that the future for us in this industry in the east part of the us not in the west part of russia because of the decline of production on our. worst sea fields and that is why it's a very simple to us with of the new market and we have the new fields which are not

far from this year what is the key to winning the asian markets is such an island in the far east holding last hydrocarbon reserves gastronomy is accelerating its second three gas project to come on stream by two thousand and eleven it's an article of business are to. leisure update for this hour we can always buy more stories on our website.

holidaymaker who wouldn't dare to swim so deep. i am. a tourist would be scared of such cold water. and would never die if nothing was in the arms of me. they are not to. be our researchers. and film or some land. in deep water. would be so much brighter if you knew about sums from funds to impressions.

don't come. this is our senior let's take a look at our main headlines now currencies and shared growth the hot topics in seoul where world powers have gathered for today's summit the aim of this g. twenty is to find ways of strengthening local economy and preventing a future financial crisis. fed up british students pour on to the streets of london

protesting against the hike you tuition fees among the government stops taking advantage of them and breaking its promises demonstration resulted in dozens of arrests and student leaders and politicians condemning the father turn of events and. the new twist in a spy ring scandal that gripped the world as a russian double agent is reported as blowing the cover on his colleagues in the united states eleven agents were exposed and lead to swap for american spies was the biggest swap for the two countries since the cold war. well you can always check out that and lots more interactive website dot com for more analysis and features now there a special report. with the banks and supplies all looted the years made of.