in the movie the joint the hotel rooms the isle of villa the case a hotel room the grand imperial truly the tallest west coast coromandel you can aletta tell the closeness which says don't need to go and claim spread the sun the colonel was such as discover a trick to. look for. the books. last time the close of team was in the cool gun range and the four men flock from all over the world to have a few centimeters to their self-confidence the first time archie goes to the i'm sure each of the for the cold war still gets people like took for an ancient tribal likes to save its culture the cranes are protected in the first ten dollars on official make sure it's a. good range of the bush

a close up on the party. brought stock and barrel to share slide continues as europe's markets open down following similar grim trading in a vote on wall street it's heard by the rooney rule a tsunami calculated deepening eurozone debt. president medvedev says he's urging the syrian leader to talk to the opposition and start reforms or else expect the sad future that says protesters reject the offer of changes from president

assad whose round of attacks on their strongholds. if you don't like the littles of the place you live for and so my way you do appreciate a little part of why muslims in britain are trying to put london under the control of it for real all the critics nearing the campaign as a political tool designed to split in the. ad we take you to russia's far east or integration with neighboring china goes far beyond any borders that's a close up this hour. just after one pm here in the russian capital if you're watching our team now to our top story global investors remain spooked at this hour as europe stock exchanges open to another sales flurry echoing similar worrying dips at asia and america all stockholders fear the worst after the prospect was raised of

a sharp slowdown in the u.s. economy as well as the euro zone stuff weighing on their minds more than an hour or so are trading in europe is about to start and we have donald bushell in brussels who i spoke with earlier who's following developments. the trouble is the news for the euro is going from bad to worse so the top banks have revealed their hits from the crisis and this morning all the years banks of the last billion dollars in calls and through. greek loans the e.u. bailout of greece requires investors to take a loss on what they hold and what of all lloyds are built an even bigger loss yesterday on morrish last. ok well just briefly why is the panic there was specially since america finally decided on dealing with its debts because greece reuland the scary design of what we really frightened italy's crisis talks with the european union biggest problem of the euro zone as number three economy or even

worse than the global economic crisis in two thousand and eight in fact they're worse than that any time in the euro's history and investors are also clearly out of spain it record numbers and it is the joy of countries that we really are in trouble and it's the investors who make the decisions and one of the world's biggest lenders your brain has slashed his exposure to the time you've got to move this as well as other troubled countries like greece ireland the portugal which suggests they just over leave those countries promise is that they can get their house in order or credible. reason is a hard call basic second of head hunter and business consultant says american national quality is forcing investors to look for safer havens in developing markets such as china. we've seen you know china is looking at about nine percent growth this year india eight percent and don't forget indonesia is about six point five percent. and that's about forty five percent of the world's population these

are the populations that have been have been growing. economic wealth has been growing so they're now significant spenders on retail themselves we've seen tremendous growth in the property market particularly. china we've seen china's car market now become the world's largest car market and i think major companies are looking to for growth in asia pacific and they did birthing their attention to these markets and i think if you look at just the announcements that were made yesterday like by h.s.b.c. they're cutting back in europe but they're adding they're adding about five thousand people in asia pacific. carcase economists daniel tarbush says the asian economy will easily withstand america and europe storm our concern that we have now is that we have to see growth rates in asia come down a bit further from where we had been expecting them and if you remember in the

global financial crisis previously a lot of banks in asia got very cautious so they themselves decided to limit their lending and that's likely what we will face again and compared to the global financial crisis you may remember actually asian economies and banks didn't get that hard hit so again the situation today is is not that worrisome compared to the last two crises in asia for china remember in the past that they were able to continue to grow their infrastructure program and banks were providing credit for that so china probably is still one of those countries where you'll still see acceptable growth remember they've been trying to manage down their growth to about eight percent and maybe we'll get there now but what you should see is china doing less in the way of tightening measures if the global economy is much weaker. well our business to us also keeping a close eye on developments occur you know what do you what's the latest you have

for us well watching markets are still in the red although slightly higher than when they started the two major indices down over two percent of the moments after having long over three percent in early trading and russia had a fantastic run in the last weeks denies excesses coming from its highs because there's a lot of exposure to the oil and gas market and analysts say that when that would cover it comes and it will come eventually the russian market will benefit significantly progress ok thank you very much for that update corrina. and president medvedev is warning syria's leader that he must enter a dialogue with protesters in order to end beyond going parlance discussion of the conflict came up during an interview with r.t. and other media on the eve of the third anniversary of the south as such and we're all here some of what you'll hear next hour. unfortunately the situation in syria has taken a dramatic turn we real politicians should follow developments gadhafi gave violent

orders to destroy the opposition the syrian president gave no such orders unfortunately a lot of people are dying in syria this is our biggest concern in my private conversation with the president of syria and in the private letters i sent him i discussed the same ideas reforms need to be carried out but you should establish peace with the opposition establish peace in the country and create a modern state if you fail to do that then a sad future awaits and at the end of the day we'll have to make a decision we're watching the situation it is changing our guidelines are to. the syrian opposition dismissed a de crew from president assad proposing a multi-party government saying that the violence has to answer before dialogue begins suggestion came after a while security council condemned the regime's crackdowns on peaceful protesters meanwhile syria's military has reportedly been attacking the opposition stronghold of hamas activists say thousands have died there in the last twenty four hours and

that's adding to over a hundred killed since the weekend of france says it may seek further action from the security council if the killing continues but our voyage says that such threats are counterproductive. effectively it is it is not the next station itself it's how it's going to be implemented and the restrictions included in there there are quite a lot of restrictions which makes it probably very difficult to implement i think the pressure of international pressure on syria is producing some result what is lacking is the action on the syrian side you have to make the changes that are required. principly start killing people remove some of the leadership. on the part decide on the government and on the military. and i think the threats that the u.s. and france and the and british. applying to syria is very counterproductive the

russian position i think it's a moral one in the sense that if you are a friend you actually give an honest advice to your friend you don't just agree with them and you don't threaten them which is not acceptable what's happening you have to have a dialogue but they're resisting falling into the same trap which we have fallen before with iraq when there will be a security council said they will not invade iraq will begin basically in libya only we're going to have a no fly zone and it turned out to be into a war and invasion of libya where there is islamic leadership tension a very different kind of hardline muslims trying to enforce showreel law in london from abstention to amputate artie's there and that's been here and how they want to instill the tough calls on the capital. so we are here to tell you that a slum. is unstoppable in europe stoning for adultery cutting off hands for stealing death of renouncing islam based group of men is trying to enforce should

really look for in the u.k. they started a campaign to make certain areas of london and other cities islamic law controlled zones starting with rule from stone east london was and will be a lot of good as with evil because of the zombies will try to do the same of an almost immediate cause of looking we believe that was intended for gather trade according to the shari'ah is all the problems according to the shari'ah believe the police themselves for logic start hopefully one day jihad islamic emirates push without apology look at the security locally and you might well feel ok choudhry and his friends are fly posting parts of london with large muslim populations they want to ban drinking gambling and playing music and they say they've got bands of young men ready to patrol and in full shari'a law by any means out in force or it will not be being on the level of inviting and fitting their beliefs but if someone has a good beast of a nice wooden essentially evil like pornography a situation issue do so. that way that we think of course i believe the pressures

that are needed most should be run out of this area these muslims say british society is broken riddled with drugs crime and prostitution because of that they firmly believe members of the communities that targeting will welcome sharia law but the word of the street about the campaign tells a different story comes down so if you don't like the laws of a place you live somewhere where you can appreciate the locals and and all of these things are completely legal in this country so this is not indira caucus tone this is england we call our own laws people have no rights can you bring our laws in here we often have trouble but councillor martin. griese saying this could destroy community cohesion we've got scored square around the house the suits are put up because we do not want these posters around. and they have no place in

for us citizen equality campaigners say that she really supports it shouldn't be considered a religious movement which have gone right to political organization with a poster campaign designed to divide and conquer communities the danger lies in dividing people dividing communities and creating mistrust particularly among from non muslims towards moderate muslims i think this is part of their aim is to create mistrust so they can then turn to moderate muslims and say look everyone hates you we're your friend turn to us and it's a very very dangerous thing and it's a political tactic to increase their own power undeterred by opposition childfree and his group plan what they see is the beginning of an islamic emirate not just in the u.k. but all over europe police have mobilized to take these posters down as fast as they appear but choudhry and his group say base bands a vigilante in forces to make sure syria is to believe all physically and in other

parts of london women have already been harassed for not covering their heads if these muslims ever get their way i won't be able to dress like this on the streets of both them stay or many other parts of london brussels rome and paris and it's our t. know from story love to. know more about some european leaders describe as the feel here of multiculturalism that we found online and are to the dark for some of the other news on our website today from would be suicide bomber to peace campaigner the palestinian woman whose life changed records her rosenfield she tells her story on our needs are. fishing out a submarine untouched for dead. it's the soviet sub that's been lurking at the bottom of the baltic.

no russia struck gold not quite yet the un's allowed access to one of the climates biggest gold and copper reserves but it won't come easy the law in the deep sea of deposits of the mid atlantic ridge let's cross live now to evolution of the details so you read out what does this a newly available reserve be for russia. this means that russia has fifteen years to explore the. seabed off the mid atlantic ridge in order to find out whether indeed this is spec to gold and copper or are in facts contained there and if the research proves to be successful if they do find a war in the mid atlantic ridge that means russia gets the priority in the development of that field of that field is of course comes after russia has applied for this event for the research of this particular area of the atlantic ocean at

the end of last year it is the first time that any country has been granted permission to explore their keeps. away from its territorial. waters in the international zone of course the south started the reasons for this were the fact that this has never been done before no countries that are applied for the development of the office in national waters until last year china has decided that they wanted to ask for permission to research for any potential galli will materialize in. the indian ocean so this of course brought forth many opportunities for other countries who are interested in develop development of such resources particularly. russia we were talking talking about the atlantic is it isn't the only region where russia is interested in deep sea mining is it. no absolutely not of course there's the the arctic. sixty russia is very interested in

possible development of our oil and gas resource there and back to russia for quite some time has been trying to prove that the a long lost of bridge in the arctic sea is in fact a continuation of russia as a consequence of self and if they do prove that that in fact is the case of other countries agree with russia that that means russia will get to develop the possible incredibly rich oil and gas resources in that field of course russia has to compete with other countries who are also vying for the for the peace of the arctic fire knows countries of course are canada the united states denmark norway and interestingly enough china also was looking at possible development in the pacific ocean but russia has also applied for a possible research in the in the seabed all of the pacific ocean as well so we have to find out whether or not those developments will bring forth any fruit ok thank you very much for that update our g.'s if you now go to her reporting there.

and now let's have a look at some more stories from across the globe for you another of the battle of libyan leader moammar gadhafi songs has reportedly been killed in a nato airstrike it's thought to congress gadhafi was in one of colonel's the colonel's compounds with the raid began nato don't confirm or deny whether the twenty eight year old was among the thirty two who died in may one of gadhafi is other sons was killed along with three grandchildren when a nato braun hit the house they were in. a teacher or some joined the anti-government protest movement currently sweeping across israel hundreds of education workers value through the streets of jerusalem demanding better working conditions and the news comes after the three week old demonstrations over. cities nationwide tens of thousands of protesters reportedly involves the movement initially targeted over priced housing but it has widened to that in past anger over aig number of other living issues. thailand is to get its first ever

female head of government and watch has a clear run ahead to become prime minister after her party secured an absolute majority in parliament she's the sister of former prime minister talks if you know roger who was overthrown in a military coup with two thousand and six when he was charged with corruption and he fled the country and some speculate he might wind up for a comeback with his sister in charge. and next we're off to one of russia's remotest quarters and where integration with china knows no boundaries. and today we're in the far eastern a war region it's a revote a bit rich richer holding russia's largest gold reserves it's also quite an industrial powerhouse with heavy manufacturing flourishing and war is also russia's in certain economic al post being perfectly situated to make the most of its

proximity to china but is ours here it runs along to see how state borders into bonds of friendship. a very warm welcome to this edition of russia place this week coming to you from the on the region situated in the great hall this reaches of the us is four weeks with thousands of kilometers away from you in moscow but to me of like that it's by popes from china and all surprisingly the influence of china and its culture is everywhere here. high heels and a hard hat it's not a look many women can pull off but then little one on a wrist or if she prefers to be called in russia is no ordinary woman having first arrived in a mall as an interpreter in the early ninety's she and her family worked their way up from running a small cafe shining this large construction company. and spread across the region's capital blogger versions could no fewer than four large

chinese restaurants full most nights and serving up the taste of the orient to brush and diners it's an impressive point failure and one that the mother of two says she couldn't have built in china you know. if i saw an opportunity to create something here russia needs skilled laborers and with china being so close and easy access to chinese goods equipment and they're ready workforce. new research is just one of a growing vandar successful chinese entrepreneurs operating in russia's far east where a river is all that separates. the two countries easy proximity coupled with favorable visa regulations continues to inspire thousands of chinese workers people like sasha to flock across the border every year his is a tried and tested business model selling cheap secondhand chinese clones. so whether it's a pair of trainers that you're right or perhaps the most xylophone glasses this is

where the people of like a best of head to pick up a bargain or in some of the chinese market which then the sense of town and of course everything inside here beth the label made in china and all the sellers also come from something that let me tell you it's absolutely packed inside here and how it's like this every single day so clearly business is leaving. i've been here for three years i left china as there weren't enough jobs things are going well him you can get things really cheap here which is great if you've got a large family a quality varies hugely but on balance i think we're lucky to have chinese traders here russian goods just can't compete on pricing. and by hopping on one of the many packed ferries that cross the more river every day russian consumers can enjoy an even more authentic chinese shopping experience i'll be is with a slight slavic flavor back here for a bargain and in the process helps you feel the chinese economy it's less sons of

fear that russia is far east is an explosive by its entrepreneurial neighbor the same as the church or us pessimists revel in self-pity at the sight of china forging ahead while optimists think of ways to develop blagoveshchensk of the same pace using chinese expertise capital and labor i believe our region is hugely fortunate to border china if we compare our city to others in russia we're much better off in almost every respect i was told of extensive plans for more joint ventures and great integration between the two can't. as far as government is concerned it's relationship western. for standing here on the a more it's a mere five minutes by boat across to china so close you already feel that you can reach out and touch it and people living here say that they've been witness to the phenomenal pace of development along the hype eric representative of the growth of the chinese economy as

a whole and its influence here in russia alison bit more to region. later and more of an obvious shows us how to live like royalty in st petersburg that's coming up in a few minutes but first the reality of the shutters across the money markets. and i welcome to our business update this hour and we go straight to our top story global financial markets are witnessing the worst selloff since the middle of october two thousand and eight cents and it was posted by news from europe and sovereign debt problem as in the gulf thing so it's the largest economies that spain and italy and was also supported by a poor u.s. economic data that showed slowing growth after an already sluggish pace in the first half now i'm joined by nick parsons head of research our national australia bank thank you for joining the program so far can you tell us some say it's a kick start of another recession what's your view of the situation. world

certainly the risks are very much to the downside and we start from an already fragile base in the first six months of this year the united states only grew not point four percent in the first nine months of the last nine months the u.k.'s only grown north point two and there are many countries across peripheral europe that are already in recession so these market movements cupboards an especially difficult time and i think the risk is that we see a lot of retrenching in a contraction of activity through the summer months and into the autumn and certainly the old quarter of negative growth in some of the major economies can no longer be ruled out it's a very very fragile background now we're we're also waiting for the u.s. jobs report it's a day what impact will that have on the markets you think. well ordinarily a decent jobs number out of the u.s. and by decent we're talking of creating about one hundred thousand jobs during the

month a decent job number would give a lift to sentiment i think that investor sentiment has been so heavily eight by the ten percent slide that we've seen across all major markets this week that it would only bring very very temporary resupply it's i think more likely is that markets will start to reflect so that at this stage of the cycle traditionally the u.s. is creating something like two hundred fifty thousand jobs a month and those one hundred thousand is better than known it's certainly not enough to give a lift to to the consumer a lift to spending and a lift there for the entire u.s. economy so i think the risk is one of very great disappointment this afternoon also with investors selling where they're putting the money in as a gold or their cash with a certain certainly not going into gold that's not been the experience of the last twenty four hours and what we've seen is a lot of a lot of very very large losses have been raked up many markets were down five

percent overnight now when you've got losses of that scale you've got to you've got to finance them i think what we're seeing here is investors are still selling the good bits of their portfolio in order to finance the losses in the bad when they're faced with knowledge and calls and so on so i think that the the whole investment universe is shrinking here and the the safest place to go is cash use you know i think it'll make you nothing but actually the guy who lost nothing yesterday who came out top of the pile nothing is not a bad thing to have right now they are looking at russell were saying the following gobble trends but at this point didn't think is this where russia can wear out all of that. difficult to see it as a standout without there been lots of lots of concerns around the pace of foreign direct investment into russia and certainly the capital markets have not benefited

join the upswing it's very difficult to see how it's going to outperform weighted down saying it might not be bottom of the pile but it's certainly not an investment vehicle of choice for many of the international investors that we speak to i'm afraid is kind of sidelined here ok thank you very much nick parsons head of your. bank thanks for talking to us. that's all in this edition of business r.t. but i'll be back with more about half an hour let's not forget. to.

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