all. in india in the movie the joint the photo of the let's go to

the grand imperial truly the torch was the. most delicious to see don't need to go and. read this in the kennel was a hotel retreat. carol europe's shares slide in early trading. on wall street retreat amid a gloomy u.s. . president here that syria's leader to start talks the reforms with the opposition expect future protesters reject the offer of change from president. attacks on their stronghold also this hour. if you don't like the rules of the place you live somewhere where you do appreciate the little muslims in britain make efforts to. put london under strict.

to enter the dragon. regions. are open to the neighborhood china in close up we hear how they're going far beyond the borders to stay with us for. a very warm welcome to you from moscow with me. well it's been a rocky few hours on the global stock markets with europe's exchanges dipping again echoing similar asia and america stock holders fear the worst after the prospect was raised of a sharp slowdown in the u.s. economy as well as the eurozone. debt weighing on their minds and there's no friday feeling for spain or italy both of seeing their boring costs shoot up again there will be speaking to our teaser daniel bushell in the near future to get the latest on this developing situation well our market giri has a hong kong based

a business consultant who says that america and europe's financial quandary is forcing investors to look for safe 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 at about six point five percent. that's about forty five percent of the world's population these are populations that have been has been growing. economic wealth has been growing so there are now significant spenders on retail themselves we've seen tremendous growth in the property markets particularly in china we've seen china's car market now become the world's largest car market and i think major companies are looking for growth in asia pacific and they're diverting 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 meantime asian markets have joined friday's free fall but bangkok based economist daniel bush says that the region's economy will easily withstand america and europe's top while. 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

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 and a little bit earlier here and i. spoke to done you'll bushelful more insight on this. the trouble is the new school you're always going for the worse so the top banks have revealed their hits from the crisis of this morning all the years banks that lost over a billion dollars in court through. greek loads the e.u. bailout of greece requires investors to take a loss of what they hold and one of the lloyds of build an even bigger loss yesterday lost. ok well just briefly why is the panic that was specially since

america finally decided on dealing with its debts well it's because greece floor limber scary is enormous but what we're really frightened italy's crisis talks with the european union because the eurozone is number three economy or even worse the global economic crisis in two thousand and eight in fact there was any time in the euro's history and investors are also coolio of splaying to record numbers and use them to drive countries fall where we really are in trouble and it's the investors who make good decisions that one of the world's biggest lenders. slowish has exposure to a time in government that goes well lose other troubled countries like greece ireland the portugal which suggests they just sort of believe that those countries promise is that they can get their house in order or critical. but it's also all those cars on here in our business to ask is keeping a close eye about a matter korinos that kareena heigho so what can you bring us up to date on an on your on your side of the business task well western markets are still in the red

slightly higher than when they just started the two major indices are down between two and three percent at the moment but we have to bear in mind that russia had a fantastic run in the last weeks and m i six is coming from its highs because there's a lot of exposure to the oil and gas market analysts say that when the recovery comes and it will come eventually the russian market will benefit significantly from that back to you. right now president here that his warning seriously doubt that he must enter a dialogue with protesters in order to end the ongoing violence discussion on the conflict came up during an interview with r.t. and other media on the eve of the third anniversary of the south setian war here's just some of what you'll hear next hour here on our city. unfortunately the situation in syria has taken a dramatic turn we real politicians should follow developments like 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 he should establish peace with the opposition establish peace in the country and create a modern state if he fails to do that then a sad future awaits him and at the end of the day we'll have to make a decision we are watching the situation it is changing our guidelines are two. all right so you can see that interview later this hour here on r.t. i mean time the syrian opposition dismissed a decree from president assad proposing a multi-party government system saying the violence has to end before dialogue begins assad's gesture came after the u.n. security council condemned the regime's crackdowns on peaceful protesters meanwhile syria's military has reportedly been attacking of the opposition stronghold of hama activists say dozens have died there in the last twenty four hours and adding to

over one hundred killed since the weekend pronto says it may seek further action from the security council if the killing continues but arab lawyer. says such threats are counterproductive. a victory really it is it is not the legislation itself it's how it's going to be implemented and the restrictions it's included in there there are quite a lot of us directions which makes it probably very difficult to implement and i think the pressure of international pressure on syria is producing some result what is the backing is the action on the syrian side they have to make the changes that are required. principally stop killing people and remove some of the leadership and not. on the part decide on the government and the military and i think the threat that the u.s. and france and b. and britain. are flying to syria is very counterproductive russia's position i think it's a moral one in the sense that if you are

a friend you actually give honest advice to your friend you don't just agree with them and you don't threaten them it is not acceptable what's happening you have to have a dialogue but they are resisting falling into the same trial which we have fallen before with iraq when there will be security council said they would not invade iraq but they did they said in libya only we are going to have a no fly zone as it turned out to be into a war and invasion of libya for another ten minutes past the hour here in moscow you with r.t. there's islamic leadership tension of a very different kind in britain with hardline muslims trying to enforce sharia law in london from abstention to. spain hearing how they want to instill that tough code on the capital. so we are here to tell you that islam. is unstoppable in europe stoning for adultery cutting off hands for stealing a death of renouncing islam this group of men is trying to enforce shari'a law in

the u.k. they've started a campaign to make certain areas of london and other cities islamic law controlled zones starting with will from stone east london will become our go to forbidding evil because i knew some as an alternative to the muslim of the no muslim community also looking to believe that muslims kind of together trade according to the sharia was all their problems. and even police themselves to a large extent hopefully one day to have a summit governorates bush would have apology locally security locally and you provide well for local 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 now that enforcement will not initially being on the level of inviting and forbidden but if someone has the capability to be with an essentially something

like pornography prostitution it should do so. by that you mean it of course i believe the pressures that are needed most should be run out of the area these muslims say british society is broken little with drugs crime and prostitution because of that they firmly believe members of the communities that targeting will welcome shari'a law but the word on the street about the campaign tells a different story comes down to if you don't like the laws of the place you live find somewhere where you do appreciate the laws and. things are completely legal in this country this is not india or pakistan this is our own laws people have no rights community bring their laws in here we often have a costly but trouble but councillor martin. griese saying this could destroy community cohesion we've. taken down the post this assumes that put up because we do not want these posters around. they have no place to move and for us

citizen equality campaigners say the surest supporters shouldn't be considered a religious movement but so far right to political organization with the police to campaign designed to divide and conquer communities their danger lies in dividing people dividing communities 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 chaldron and his group plan what they see is the beginning of an islamic emirate not just of the but all over europe police have mobilized to take these posters down as fast as they appear but choudhry and his group say they formed bands of vigilante and forces to make sure syria is to 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. or many other parts of london brussels rome and paris and it's r.t. . more on what some european leaders describe as the failure of multiculturalism can be found online at our website r.t. dot com some of the other news on our website waiting for you today from a would be suicide bomber to peace comes. the palestinian woman whose life changed when terrorism she tells our story on our t.v. talk. and fishing out of a submarine. decades soviet between looking at the bottom of the pool.

without sea life from moscow now russia has struck gold well not quite yet the un's allowed access to possibly one of the planet's biggest gold reserves but it won't come easy may lie in the deep sea deposits of the mid atlantic ridge. the details of this deal. russia has fifteen years to explore the the deep rust seabed off the mid atlantic ridge in order to find out whether indeed the suspected gold and copper ore are in fact contained there and if the research proves to be successful if they do find a war in the mid atlantic ridge that that means i should get the priority in the development of that field this has never been done before no countries never applied for the development of the office seabed into in international waters until last year china has decided that they wanted to ask for permission to research for

any potential valuable materials in the envies seabed off the indian ocean so this of course brought forth a many opportunities for other countries who are interested in develop development of such resources particularly for russia there's the the arctic the arctic sea russia is very interested in possible developments of a loyal and gas resource there in fact russia has for quite some time has been trying to prove that the last of bridge in the arctic sea is in fact the continuation of russia's continental shelf 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 fly in those countries of course are canada the united states denmark

norway and interestingly enough china. now a quarter past the hour here are some other stories from across the globe for you another libyan leader moammar gadhafi sons has reportedly been killed in a nato air strike. was in one of the colonel's compounds when the raid began nato won't confirm or deny whether the twenty eight year old was among the thirty two who died in may one could have these other sons was killed along with three grandchildren when nato bomb hit the house they were. teachers have joined the government protest movement currently sweeping across israel hundreds of education workers rallied through the streets of jerusalem demanding better working conditions the news comes after the three week old demonstrations overwhelmed cities nationwide with tens of thousands of protesters reportedly involved the movement initially targeted over priced housing but has widened to encompass anger over a number of other living issue. thailand has its first ever female head of government

. has been elected as prime minister after her party secured a parliament majority she is the sister of former prime minister thaksin shinawatra he was overthrown in a military coup in two thousand and six he was charged with corruption and fled the country but some speculate he might line up for a comeback with his sister in charge. while the next we're off to one of russia's remotest corner where integration with china knows no boundaries. and today we're in the far eastern region it's a remote but rich area holding russia's largest gold reserves it's also quite an industrial powerhouse with heavy manufacturing flourishing it is also russia's

eastern economic outpost being perfectly situated to make the most of its proximity to china alice it went along to see how state borders turned into bonds of friendship. a very warm welcome to this edition of russia place out this week coming to you from the all mood region situated in the very full of this reaches of russ's for weeks with thousands of kilometers away from you in moscow but to me of like minutes 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 lily white on a rest or if she prefers to be called in russia is no ordinary woman having first arrived in a more 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 blagoveshchensk no fewer than four large chinese

restaurants full most nights and serving up the taste of the orient to russian dinah's it's an impressive pool failure and one that the mother of two says she couldn't have built in china if you. use the word of yet i saw an opportunity to create something here russia needs skilled laborers and with china being so close and easy our existing chinese goods and equipment and are already working for someone new mr is just one of a growing band of 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 sucha to flock across the border every year his is a tried and tested business model selling cheap secondhand chinese clays. so whether it's a pair of a trendy train is that you raft or perhaps the design of fungal says this is where

the people of blagoveshchensk head to pick up a bargain were instantly the chinese market which then the sense of town and of course. everything inside here bears the label made in china and all the sellers also come from china and let me tell you it's absolutely packed inside here and the party is like this every single day so clearly business is booming. i've been here for three years and i love china as they want not jobs things are going well here you can get things really cheap here which is great if you've got a large family the 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 the is the slight slavic flavor back here for a bargain and in the process help to fuel the chinese economy it's led some to fear

that russia's far east is being exploited by its entrepreneurial neighbor. worthless a pessimist revel in self pity at the sight of china forging ahead while optimists think of ways to develop like a version of the same pace using chinese expertise capital and labor because i believe our region is hugely fortunate to go to 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 grace integration between the two countries as far as government is concerned its relationship westray. your standing here on the a more coastline it's a mere five minutes by boat across to china so close you always 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. in our talk of the business news with korea. welcome to our business update thanks for joining me this hour global financial markets are witnessing the worst selloff since the middle of october two thousand and eight the gloom was boosted by news from europe the region sovereign debt problem is engulfing two of its largest economies spain and italy and poor u.s. economic data that showed slowing growth after already sluggish pace in the first half didn't help as well nick parsons from national australia bank says it's a time when cas is king the certainly not going into gold that's not been the experience of the last twenty four hours we what we've seen is a lot of a lot of very very large losses have been racked up many markets were down five

percent overnight 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 fought for you in order to finance the losses in the bad when they're faced with margin 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 you'll do nothing it'll make you nothing but actually the guy who lost nothing yesterday we came out top of the pile nothing is not a bad thing to have right now and while global and excess are two retreating miners lover from the t.x. capital group says russian markets are likely to be the first to see an upswing. russia has had a fantastic run look at the. great run over the last few weeks or so slow these thoughts come off this coming off from the holidays and with the increased amounts of exposure to us that we have with a high amount of exposure to the oil and gas molecules i feel there is need. for

russian it would cease to be had but when the recovery comes it will come at some point in the russian market does seem very well positioned to benefit quite significantly from its. let's have a look at the markets gold is edging up adding eighteen dollars per ounce while sober is that in fifty nine cents that's after concerns over the u.s. and eurozone economies have sent investors running for a safe haven that precious metals are providing right now prices are making a comeback like sweden is like down trading at eighty four dollars per barrel while brant is gaining sixty seconds as our. markets in asia nosedive tracting tracking the losses on wall street japan's nikkei finished down three point seven percent its lowest since the first post earthquake plunge in march energy companies and financial firms were among the worst performers with oil from impacts losing over seven percent miners have also been hard hit hong kong's hang seng finished four point two percent in the red while exporters among the main losers. stocks in

europe are on the downside as well extending a global sell off all sectors are trading deep in the red with the banks among the worst performers for bank of scotland's group is now losing eight percent having plunged as much as twenty one percent early in the day that's up to the banks wong to the second quarter looks. a similar picture in russia the us has is down three and a half percent and otherwise excusing two and a half percent self-service our the russian markets have now told me here let's have a look at some individual movers on the wires six energy majors among the worst performers on the low crude prices gas from is shedding over three and a half percent financial stocks are also under pressure with the t.v. bank down two and a half percent and telecommunication company ross telecom has one of the worst decline as over five percent in the red. the markets are in term all the u.s. has managed to stave off a potentially crippling default but many countries are considering we do sing their

large dollar reserves on to other less risky currencies however exam you dive or bear bag argues they are much better. and switzerland have a lot off reserves in the years dollar but this basically means there's not much difference between. the strength of the american dollar and because this right is backed by american dollars rights and we are all kind of in the same nor'east and there is not that many out front. two in the long run we will see some all cheering tiffs growing and actually euro is a good substitute for the dollar it will see right pain that rather than debt separate countries foreign banks have been leaving russia in recent months sweden as we bank britain's ages b.c. and barclays have suspended their operations in the country but your bank cards

from the association of european business doubts they've completely lost interest in russia's retail market. the retail market is interesting that's because they at some point in time entered into this market but you have to realize that it is also quite expensive office location workforce here the processes are expensive so you really have to reach a critical mass until everything is breaking even if you are starting to add money you have to have the minimum amount of projects you have to have a clearly a minimum amount of clients and until you get there it takes time and costs money i would analyze the situation as such that these banks have decided on a global basis that it takes probably too long until they get there but it's not again it's not a not a decision it's a against russia is an interesting market. at the update we have for you this hour but remember you can always log on to our website r.t. dot com slash business and find more stars thanks so much.

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