drizzy contaminated zone and the court is expected to start hearings in late september ukraine's thirty kilometer nuclear wasteland will remain closed to the republicans with the debate remains very much older and. less your show ski and c reporting from kiev. ukraine. mike and i plan on our developing story beyond the going taliban assault on the center of the afghan capital officials say that at least one person has been killed and sixteen wounded in the fighting the u.s. embassy and nato headquarters in kabul are under heavy gun and r.p.g. fire several other parts of the capital have also been attacked by suicide bombers insurgents killed in an occupied and high rise building in the gulf of st afghan and nato forces are playing out fierce resistance this comes just weeks after an attack on the british council votes in the same district that left twelve people

dead well of course from the roar on this story as we get it. now a bit later in our spotlight program al gore will talk to the head of the russian nanotechnology corporation on a volatile virus before they look at a date with marina. hello and welcome to business here on r t the ruble is spreading close to its lowest level against the u.s. dollar for eight months and this is a concerned europe's persistent that crisis could demand for fuel and affectively hinder russia's economic growth this has been reinforced by comments on tuesday from finance minister alex including who says he expects the ruble to slide even further well joining me now is jacob now our chief economist at morgan stanley russia thank you so much for joining us now to some us what are the prospects for the ruble now well actually i think they're pretty good at current oil prices if

you look at what's happening to reserves which is the kind of results of the entire set of. transactions between russia and the rest of the world every week we've been seeing an increase in international reserves and if you think about oil exports at these prices and what's happened if we take sports i think you'll find that the current continues to be very strong in russia on the capital it's a little bit less predictable but i think with the uncertainty around the elections the may have been an increase in care what is the not to the level that we saw earlier this year so actually we expect the ruble to strengthen again from current levels going forward well you mentioned uncertainty over the election but control of the budget is quite balanced and russia's economy is still growing why is it perceived as such a high risk because people see commodity exporters and russia raise in crude terms of quality exporter of oil and gas is sixty five percent of exports as being

apply on global growth and global growth is wholly their growth will be higher when global growth is low their growth will be lower and so i think people see russia as being exposed to global growth and global growth because there'll be a pile of russian assets but this time around i'm not sure. that's the right response because. commodity prices depend upon fall upon growth in emerging markets such as china north on growth in developed markets where demand for commodities such as all is very stable so as long as what's happening remains confined to developing markets and doesn't extend to china and india the source of additional demand for oil russia should be relatively insulated but you mentioned the other emerging markets were to say that russia is more vulnerable it's a meltdown in europe then it's full of bric nations well i think it's less vulnerable than central europe and then turkey because the trade and investment

relations with the e.u. are less or less tight they're more dependent upon the price of commodities which is set in the global market by china or india arm so i think that it's probably as. insulates see it as any of the emerging markets apart from china or india which are so large that they they kind of determine their own fate but of course in russia all price is the thing to watch if it goes below eighty dollars rushes in trouble but at the moment we see chinese growth opec discipline and the small margin of spare capacity is reason to be relatively bullish on the oil price now taking everything into account events were heading so as another financial crisis i think financial crises kind of happen unexpectedly and we've seen this one coming a long way off we all know that. government stepped in when banks failed and markets crashed in two thousand and eight and increased their debt

in order to support growth and now we have problems with sovereign debt but we've all seen it coming and as a consequence i think minor financial markets are prepared for it so i think it won't be a crash i think it may be more slide and it'll be slow and protracted and painful . but so i don't think will be an event that triggers some kind of dramatic turnaround was rehired with a lehmann brothers bankruptcy for instance the europeans that have a substantial amount of greek debt they're well known to governments know about it and so in the event of a greek default event there already are expected changes your plans in place which they weren't with lehmann brothers in their work with a high g. so you mention that you don't expect to see a crash but october has historically been a big month for the markets so what do you expect to see maybe another slide as you put it since not a crash or. i don't see at the moment i think that the markets are already pricing

in a recession and we don't see a recession at the moment we see in the developed world in europe and the u.s. growth singalong just positive territory and in the emerging world in china or india continuing to power ahead at seven eight percent so i think the markets are already more personally stick or central view of where the economy is going you know all of it is often a month in russian politics but it's always nothing and not every october is for our rights thank you very much they can't know their dream for calling us that morgan stanley here in russia thank you so much for being here thank you. we have a bit of time left so let's take a look at the markets for side with oil prices which are higher this hour following rebounds and euro and stock markets earlier with some losses after the international energy agency cuts estimate for demand growth and raised its supply forecast. and there is little optimism around europe as investors focus on the

weakness of the global economy but the footsie and that's have managed to raise earlier losses that ring from the concerns in europe sovereign debt crisis may harm big quantum and reconstructs access to funding. and. here in russia the markets bounced back from earlier losses as well as the arts yes and the my sets are in the black this hour let's take a look at some index movers on the biceps most energy majors are still down despite stronger crude castro has managed to come out of negative territory and bank st peter's work itself supported by stronger than expected results its first half net profit towards lupul to one hundred forty eight million dollars that's all business news for now the headlines are next.

it's now called now in our must be this is the syrian libyan rebel attack the new remaining stronghold of moammar gadhafi under a shield of nato air strikes on his honesty in central reports of war crimes committed by mcconnell's loyalists and their own consumption of immunity the ship restraining order and security. in crane question the legality of tools of the nuclear design of the slide into novel and made allegations they were providing on healthy profits to officials but experts say the contaminated mountain might be

just the plagues in new industrial projects. in germany attempts to calm fears they would greece's potential default by urging members of the year is going to stick together but stormy skies in the european debt stricken to the always helps. all the latest news that around thirty minutes time next day we shine the spotlight like you figure that had been the other thought is your bias who's now head of the russian nanotechnology corporation we ask what makes a successful innovation economy that's what lives next on our city. hello again and welcome to the spotlight the interview show on r.t. i'm al gore and my guest on the show today is not totally true price over the last

few years russia has invested billions of dollars in that it's acknowledging something in the visible something very small but something that's considered to be a very promising thing and then a technology is an industry that's said to be bringing russia out of the oil and gas are really into technology into the twenty first century high tech type of economy but many people say that it's a waste of taxpayers' money since you come by anything now and local supermarkets so is now the technology really something that will help modernize the russian economy the man who knows is and tele. the head of the russian car in dealing with national. news a golden present plane appears on but another to colleges a scientific study of the highest priority says that dozens of projects have kicked off attracting some ten billion dollars of by the state

a private investment to coordinated force of st drum an attack operational it was created in c.e.o. richard was one of the most experienced russian managers who was part of the general divisions reformers who launched the market economy in the post soviet russia twenty years later is making the now tech investments work. to try to welcome to the show thank you very much for being with us first of all the news that. recently launched. a new production line in st petersburg where it will be producing some nano products some ceramic metal ceramics and things like that what what specifically are you going to produce something which is the most important part of. the i will say cutting edge of the blade absolutely which is normally face with the marks and all here marks all

strands of all the knocks and parameters. there is something which may increase all of those parameters that's why our partners who is the very will. scientist with a good technology experience will develop us to torture. we. if we accept this ideas and we invest in developing those businesses and just a couple of weeks ago the start of the commercial production of quranic instruments details for machinery and when you were talking about blade you you said mission machinery is it going to be like for blodget machine like drilling or something or like surgery for example yeah well actually the exact the way and we're speaking about dental procedures blitz they produce. cutting instruments like drills and things like that. you first begin to roll the blades were developed in these

special knowledge which based on the idea or the quartering on the plates is something which may increase the temperature and increase the pressure pressure which is accepted by the blitz. the world economy today is facing big problems many say it's entering a period of crisis or stagnation or whatever and economists and science say that future economic growth may be based only on new technologies what kind of technologies from your point of view are these. tillage is that can lead to kind of out of stagnation and there's no one of these technologies should it's a point of great discussion. the discussion of bode the big waves. in the fall and or of the theory of because technology waifs scientists can but i think. there are a number of scientists all over the world based on his ideas developed in the

beginning of the last century they developed the stage just for his knowledge of waves and according to this theory the station number five which is good that's something which is based on pivot communication on a computer or in. silicon devices and the next station that something which may be based on. there is no exact. arguments because not only knowledge of that something which is spirit intersect or all so that's something which you may apply in machinery in pharmaceutical in basic materials or in french macor products in medical equipment or of wide spectrum and or with smart church bliss materials and much more strength in. future efficiency in economic terms. today to be frank it is the gadgets it's not yet

a big industry it's again it's how you disagree as a. i am wrong i am part of the disagree with you because you first begin to both. told you we mean something which we may get today in the market you would be right but if we will get something which is on the stage show the proof of concept or on the station even on the report for product and may find something which may fundament. not so this will good joke but which may change the future industry let me give you just one of them. not a composite materials it's something which has now become the part of the industrial technology all over the world where they start to be accepted mainly in space. the next stage they are applied in the production if you will take the.

boy in so and so and so and. you will know there is a board twelve percent of one accomplish it materials inside of his board if you will to say when. we should do that there are more than fifty two percent of the materials and that's understandable because of the weight of this up sort of a critical when you if you're safe you off with it's strongly important space number one here number two the next stage this may be a ship building next they may be at the railway buggins the next stage may be the car production and we have now a number of the it will name a producer who established the program to utilize them on a composite materials but this is the way when something pushes started on the very small space shuttle this is something is wide and wide at least i have hope that

they're going to get a dreamliner will out thirty kilos of luggage and sort of thing more that's one option another option it will fly foster the thought option it will take instead though for two hundred fifty passengers of it will take three hundred fifty percent or so if you have this materials in the you are a constructor of your engineer you're able to convert truth introduced into the speed into the fish and into the energy saving so what they were but the grown there's the new material there's russia today have the potential to develop such breakthrough technology there and that can help the country make certain from from from from real material type economy to too high tech one. i believe that we are. thinking of question. three close a call stage in the answer in this question space number one no it can no ship.

station number two maybe there is something in the station number three everybody knows so and my understanding is now we're coming from the station of the one hundred the station number two is following here the country is following is that your first. number to avoid is very important what we try and i am myself nor link in this process i find a norm water sources enormous resources resources and two or more of the r. and d. support resources and draw all the skilled people resources into a more the technological ground and it's not not any more school we're starting the project for producing. policy like one in a small beaded shoe in the siberia be in one of the district of the region and we immediately are flying skilled people. technological experience in our own disappeared and we'll produce two hundred to solve the six hundred or for policy to go on in this region and this typical so wherever will start your business and

russia will able to find resources which is already existing so that the country who has this resources. miss. the communist leader of soviets russia once said we will overcome america then mr gorbachev also said and you remember we should kill further we should develop technologies now mr putin was more modest remember he said that we should reach the level of portugal like catch up with europe but these slogans are introduced but we're still as you said. on the level a moving falling i still level to see what what's the problem when will or should a breakthrough happen. because all of us know soviet union economy. was able to produce some great scientific results by the space program. nuclear program. but

a military high tech military are ok yeah aircraft yeah. but if you will remind yourself some kind of the technology to which human from the soviet union economy or which was which may be applied for the ordinary people consumer nothing which would not be the t.v. we were or radio or anything etc nothing so in the soviet union there what does it mean it mean that there was a some kind of bedrock thank you could be drawn to hold tickled to drop by the quantum itself could not produce goods which may be consumed by the ordinary people they need something leg of the space shuttle a space. rocket it can be produced but not for the ordinary people so there was a reserve there was resources but there were no demand. the next stage there the market economy which is based on the demonic so everybody able to go to the shop

and to buy computer unfortunately little do not trust in computer but the demand is existing and i believe there the next stage of development of the market economy in russia then the stage which will create this institutional framework for the you know with your equipment which will create the eco system so that you know we typical enemy and to make a long shorter i absolutely convience that in the russia in next five ten to us we have absolutely real chances to create more than twenty first century in the weight of a quantum over the world stoner's says by see the russian corporation for now the technologies ross nano stuff like moving up shortly after the break so stay with us.

well when one deals with war for us to realize that those tremendous amounts of damage that are done not just human damage but damage the physical environment in which the battlefield takes place tremendous amounts of damage done by aerial bombs by napalm boy chemicals that means whether it's part of the sonic booms extract marine mammals or it's the burning oil field syria or iraq or or gets destroyed coral reefs in the pacific for the programming purposes the list just goes on and on the geneva conventions of nineteen forty nine states that there shall be changes in the war to protect one vote against widespread long term and severe damage to the united states although it is accepted almost all of the provisions political one has taken exception to that.

will. bring you the latest in science and technology from the realm for sure. we set up the future covered. welcome back to spotlight on al gore another one just to remind you that today my guest on the show is on the only true bar ice the c.e.o. of our us nano the russian corporation dealing with nanotechnologies with a country so rich natural resources not on the oil and gas that was. timber we will whatever do we need to do these things i mean i mean why do this this economy need as far as i know and i know from the newspapers one of your

biggest problems is to introduce high tech to governors like in fargo he reasons of this country isn't it true they do what. actually there is a way to steal based upon the oil and gas. that's their option which is existing or this the option which was forced. strongly warble put any current of the economic downturn and second there's the option which is not. a flaw a option to consume unique resources which is within russia on the economic social human level existence and thought the strategy which will bring crush to the football so this why to answer to a question. can we leave without it yes but but that's something which means they are they should my understanding is that what russia needs is not because of the

action but in the wish and there's the the limit of their relation in the way show where we're here to make overtures. if you will continue to go this way we call attention cation russia needs quality education and many people are talking that there are problems in russia education even compared to the old soviet system is. participating in developing quality education in this country yes we do and we understand it must. truly i cannot see and i'm disagree there is no educational system in russia that's wrong if you compare the russian official sr with cheney as with india with brazil. i am very conscious of snored the war system at the same time definitely it's not the best in the world and that's why we need to adjust the skills of employees in our

project to what is demanded by the project itself what were the exact style of our education project normally at the moment was the new business approach of. the educational project to educate skilled people to this project when we start to produce in this. region this political will immediately simulate enters the start of the project to educate team which will be the employee in this project we have interviewed a number of people on sports tonight russian scientists russian young specialists work abroad and who want to come back to work conversion but surprisingly money isn't what they need isn't what they way they use them how are you somehow interested in the problem of brain drain and what do you think you need to give people to drag them back to rush. well i believe the money is important

but knowing tell you the only important and not the main thing what is the main think it wouldn't go experience the main st is a real option to implementing your ideas to apply them in the real business process let me give an example we find the team of very young people young scientists who left russia left russia forced to feel and that they've got ground from the thing to go on when they left of germany and they develop some very very sophisticated technology in good to restructure to produce play to me to it's we understand the scientific result they care for is very interesting and i suggest them to come back turn resendiz business and start to build a business in russia based on the ideas which was developed by themselves. the political success all the stuff of production of the russian let me the limps which

is now in the beginning of september in the russian shops there's the commercial product and the parameter of the technical parameters of this product is on the level of the best in the war that's on the level of predicts that some of that will force around and that's an example so when you give the option to implement theoretical and diest to put them in the real practical business that's something which is even more important than just what i know you would mention the led lamps these bulbs and new production because many people say that you mention consumer products so many people say that this these. lamps and bobs are the first and the only consumer product today that's manufactured with the help of now and with gina she is a true well it's not the phyllis to be here for more examples but that's true the more store or product is no apply. b. to c. b. to b. b. to business. but i will you be working on more and more consumer

items things that these things can be sold well in local stores and supermarkets i don't see it as a prayer it's something which reminds me of the soviet girls. in the group a group b. group a is important ruby is not important to me is the problem if there is a consumer business or consumer ordinary people i would support this business although i wouldn't consider it as a priority you recently showed in other products the electronic reader you showed if you introduced it to take it to the russian prime minister and you said that this is something that may replace. paper books in russian schools. more about it do you think that this really me.