with us too. shared recovery beyond the crisis is the main theme that of course means money the summit kicked off with a business forum and there president medvedev 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 we're going to hear a lot of dialogue on the u.s. fiscal policy 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 it's 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 hibbert 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 may just spots around as country circle the wagons while others try to cool the schulze then there's the problem to the north this is 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 largest economy in the world north korea may just slide some full kilometers north of this freedom bridge and demilitarized zone but economically the to paul's. threat from the democratic

people's republic lee was 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 wants do you want to be. 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 saying they're laughing they're thinking you know are you guys and yet washington stands accused of allowing its own dollar to twin walling of merging markets his own currencies are rising strongly and damaging the export competitiveness complaints intensified after the

third rail 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 to get permission from the g. twenty first the russian position is that we need more coordinated the broad we don't want surprises from partners. we want. more intensive. and central banks. and 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 it's taking through printing dollars we can. it's 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 fall bad dominant export markets and spend more it's 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. sells south korea. well editor in chief of the magazine russia in global affairs a field goal to look young officers here now in the studio to share some perspective on the summit and its possible outcomes good to see you so america

continues to try and assert its so-called global financial domination here with some politicians in washington even threatening a currency war now before we talk about what could russia do to cope with and to counteract a currency war simplify for me what exactly is a currency war currency war is that each significant country but basically each country is throwing to keep its currency. possible level to promote its own export and return to protect its own market. inflow of imported goods and the specially characteristic there is between the united states and china china is money purely. fixed. exchange rates. are going that it is absolutely needed to promote stability inside the country and

you know. states trying to. push your china to liberalize exchange rate but without any bigger response no united states is trying to to just to look to. the devalued dollar to be more competitive physically china because the politicians in washington have been screaming at china basically saying that you guys are exporting cheap and affordable goods that they ruining the u.s. economy here let's put our attention our focus now on russia and that of moscow how can russia cope and counteract such a currency war yet to be frank russia is not the biggest player in this game and not the biggest country participating in the g. twenty summit russian economy is unfortunately very vulnerable and russia has not so many means to counter. different money relation. done by u.s. or china mainly us because our economies were very much dependent on dollar exchange

rate what russia is trying to do in seoul and basically in in the global financial situation to support dorce countries and pull the titians and bankers who are trying to push you to convince united states not to. print dollars and in this particular case russia. china and germany for example but but russia is looked at independently so you're saying that the russian economy is fragile and there russia is attending this summit in more of a supportive manner but what else what else can russian officials be trying to achieve at this summit russian officials. for example. can all make advisor said that russia for example would put the question about. how to. promote. investment from emerging

countries like china or russia in developed countries because we witnessed a couple of times purely political obstacles to be built to prevent russian investment in for example american or european companies would you leave me to my next point because if the west is not making russia happy is it possible the russia is now turning its focus more towards the east we recently had the the r.c.n. russian summit in vietnam the russian president did a recent trip to china is russia putting its focus more towards the east rather than the west absolutely dece year or is a watershed of the year i think russian policy is most more active we can say that shift focus is shifting yet because steel russia is almost entirely on the west and europe on the united states but there's a very important beginning because in contemporary world we're asia is playing

a crucial role in russia can't afford not to pay attention to do spot of the world or if you're going to look here on our headers or in chief of russia in a global affairs magazine thank you thank you. russian newspaper says it has revealed the identity of the man behind exposing eleven russian agents in the u.s. this summer come our son claims he was a former foreign intelligence service employee our correspondent you go to school now has more. i'm going to cite a newspaper claims to have held its own investigation and the see that call most should call for an officer of the russian foreign intelligence service was a double agent working undercover in the us migration service and it was him responsible for blowing the cover on his colleagues in the united states last summer which resulted basically in the biggest spying scandal between moscow and washington since the cold war era now if all this is true then the big question is at the moment is held. manage to hide his activities from russian authorities the

newspaper says that before this scandal erupted paula should walk or was offered a promotion by russian authorities which she rejected possibly because he had to take a lie detector test which could have revealed his activities as a double agent and also reportedly several months before the scandal should walk off daughter left russia to the united states going to sign to a newspaper also says that the foreign intelligence service here in russia claims to continue looking into what happened back then and also val's to find and punish everybody responsible for the failure of that massive secret operation in june american authorities announced that they have a arrested a group of people suspected of being secret russian agents who worked in the united states undercover for years in some cases for decades and they've all been arrested found guilty by a u.s. court of being unregistered foreign agents and deported from the united states to

russia in exchange for four people who are serving time here after having been found guilty of being foreign spies now the coming sun newspaper and is now also focusing on the one of the members of that group of deep ordered from the united states this man has already been deemed a super agent and this is mikhail. kuo left of the soviet union back in. main nine hundred sixty s. first to spain and then to a lot in america he became a photographer and it became known under the name of one. traveled to the united states became acquainted with lots of politicians and other officials and this man reportedly denied being a russian agent up to the very end and it was actually. who presented to the secret materials proving that. was a russian agent and it was on the event that he actually said his real name to the

investigation so some really interesting details are now emerging despite the fact that the scandal itself erupted just several months ago. reporting that well coming out for you in just a few minutes time here on our feet it's time to hit top gear as a moscow based super car maker buys out of formula one team all the details all racing your way. well police in the u.k. have launched an inquiry into how the force turned all the wednesday's a 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 triple in an attempt to reduce the country's massive budget deficit prime minister david cameron said the violence was unacceptable the clashes which involved missiles being hurled at police led to over thirty arrests.

james prior to europe campaign says the cuts are a result of blowing the budget. we're sending forty eight million pounds a day forty eight million pounds a day to the 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 and saying i'm pulling out would be saving that 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. them and bring in the e.u. which talked there you know this is an organization that hasn't had his accounts altered for fourteen years i think even right from the center just reject the latest round of. accounts i mean you know this is you know this is an unelected group of people it is all down to interpretation i mean they're saying anything i think cameron's been completely mis advise on this and i think he's also missed the mood of the people i mean the people are really now showing you know that you know

we can't stand that interpretation is one hundred twenty billion we send over them we get money back and yes that of course we do get to break it down to terms that we can all understand it's the equivalent of us sending them two pounds sixty and they give us a pound back that doesn't make sense to me. that's james prior and to your campaign as well you are with r t it's good to have your company today now let's check out some other news making headlines around the world this hour the u.n. says israel's easing of the economic blockade in gaza has had little effect on people living there certain restrictions on consumer goods were lifted but many still remain as well as a near total ban on exports the blockade was imposed in two thousand and seven but it was eased in june following international pressure after israel's attack on a turkish aid flotilla. iraqi m.p.'s are meeting to finalize a deal which will end the country's eight months political stalemate prime minister nuri al maliki will return to power for

a further four years under the new agreement which includes parties from the shiite sunni and kurdish sides it's hoped it will help to stabilize iraq fragile security situation which is deteriorating to meet the deadlock the country has meantime broken the world record but taking the longest time ever to form a government after elections. the death toll from cholera across haiti has risen to six hundred forty four as aid workers fight to contain the spread of the disease in the capital thousands of people with cholera are now in hospitals across the country with fears the epidemic will spread further due to the water supply being contaminated after a recent hurricane millions and alice said to be at risk of catching the disease. well we've got plenty more. on. our website. has many more things to offer including videos here's a taste of some of things waiting for you there right now reconstructing the russian capital reveal their strategy to. the new plans affect public transport

supermarkets. get all the details on the city's transformation. has been described as the most beautiful in the world. there's a place for beautiful music we explore the sounds of the underground music. russia is set to burst on to the formula one scene in full force moscow based. virgin british f one team it's to be rebranded as virgin racing this comes just a few weeks after russia has sealed the deal with formula one to host the country's first ever grand prix. it's

a super car maker it's revealed already some very high performance cars and next year everyone's waiting with bated breath because it does announce that early next year it will unveil its first f one car already under stock under construction in the u.k. so there is the company itself it has a factory in moscow it wants to build more front trees in new york the company itself wants to build commercial cars as well as super cars but now it has moved further into that glamorous sport of air warmed by buying a large stake in the virgin racing team in britain which makes it marked off the formula one teams of its cars are going to be on the track sooner rather than later on there we'll see how they do there over the past few days has been a 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 struck 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 also not a mere putin has been are leaving the starting line and just in the last few days he hopped into work a rare no one car in the went up to two hundred forty kilometers an hour on roads near lending growth in the leningrad region this petersburg russia seems to really taken this bull by the horns with their one 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 whipped

up. reporting that now time to turn over to charlotte for the latest business news . for the full story we've got. the biggest issues get voice face to face with the news makers. in some petersburg oh she's available in hotels a story. a trip. a true story toto. dostoevsky. visit.

hello welcome to the business program here and alex here with me charlayne was folly first to the g. twenty summit and russian president dmitry medvedev has called for better access to domestic and foreign capital for small and medium sized businesses to spur global economic growth speaking at the g twenty business forum in south korea banks may need further encouragement to work more actively with estimates russia will urge the group of twenty policy makers to remove barriers to long term investment in developed countries to help emerging economies counter capital inflows according to a. proposal to offset the money flooding into emerging markets by creating an incoming flow of capital to nations. staying with you twenty and earlier i spoke to chris we fire chief. they explained that russia would probably push for access to foreign markets. you know this is a key issue for russia this is were certainly 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 western europe in particular of course we have this big route two thousand and five when russia tried to buy investment in airbus d.s. industries last year of course russia tried to buy general motors opel yunus 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 equity arrangements and helping the russian companies to modernize become more efficient to make up if you like the lack of international experience of russian companies so it's a key part of russia's development and a key policy that it wants or so now we've heard from countries like brazil like china complaining about the u.s. federal reserve's decision to pump of the six hundred billions worth of money into the economy we have already had many complaints from russia why is this 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 that in taking some money back also the ruble is the cheaper end of the band so it's russia conservative with sustained some 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 course they are in year for now the priority i think is to get money. now competing devaluation is zero currency wars is a burning topic twenty speaking exclusive to business ati chairman. causton gave

his first hundred feet from korea. creates additional problem it leads to a mobile to be. more of a growing market. for the better for the world economy but i think you didn't do to resolve all the price. we sure would worsen the situation for many companies and use them from you to do well in the world so. be relieved that i don't think. it's going to resolve this issue. now the former head of the u.s. federal reserve alan greenspan has weighed in against the policy of weakening lives all that and driving up exchange rates in the rest of the world picks chief of u.s. central bank china is also pushing to boost exports these currency wars could spark global trade protectionism and provoke

a crisis much. from which the world economy is recovering. time and see how the markets are performing in here and mixed with my sex looking into the red bank and was left among the biggest names in helping lend support. it's going to run percent of the. every new york stock market pulling with losses for the financial sector endings announcements from the likes of siemens and b. secret and london for three point one percent for the telecoms increased cost. to russia now billy military pascoe's roussel and a group of investors are looking to buy out into rolls twenty five percent stake in the us nickel this is according to realty news agency will sell which also owns a twenty five percent stake in the nickel producer is currently in talks with investors to set up a pool in the bid in october into ross by bloody maple turn and sent a proposal to ravel to buy its stake in the rolls for nine billion dollars which

was briefly rejected both shareholders of the lot in the battle over the control of neurosurgical since g.e. and i dared ask is also seeking to place an initial public offering proof power utility you receive and go in hong kong by the end of the year the russian billionaire says he hopes to generate one point five billion dollars through the sale of a twenty five percent stake. and also for me my colleague heard about how behave next i was taking you business for the rest of the day but for now they stay with the headline news coming up next.

from. wealthy british scientists and it's a mess but i'm not surprised to find accurate. markets why not come to. find out what's really happening to the global economy with max concert for a no holds barred look at the global financial headlines tune in to kaiser report on r g. a moment when the world has changed forever. thousands

pounced to nothingness. thousands wounded. and noone to suffer today in the land. that was the first but probably not the landstuhl military uses of this weapon. many more will be come. on come on get on in the future. if. the motion to be soon which brightened if you knew about sound from phones to christians. scream stunts on

t.v. don't come. more news today volunteers once again flared up. saying these are the images the world has been seeing from the streets of canada. china operations are old today. it's now three thirty pm here in the russian capital. for a two day summit but as leaders tackle the global economy getting violent speaking out against globalization.

the world. blowing the cover on his colleagues in the united states. since the. streets of london protesting. should wish and feel that demanding the government stop taking advantage of them breaking its promises demonstration resulted in dozens of. politicians. about thirty minutes time but for now. break open the safe some of the world's biggest money players and see what they've been hiding.