on the archipelago an option fully utilized only by moscow that for decades has been mining coal here. coal here has always been pretty expansive but that can still be times was not an issue of economics but rather politics pasko needed to maintain in smiling face here it's his burden at any cost but now production volumes have built just a fraction of what they used to be but one thing any russian presence here is still considered and matter of strategic importance of the soviet math and die hard the minds of quitman hasn't changed much in the last fifty years while they ask the composition of their workforce could make for you to feel solvent nostalgia about the symmetry of i'm twenty seven years old so i don't have clear memories of the soviet union but i do system that spirit is very well preserved here we have people here from ukraine central asian and we all feel like citizens of one country ironically the attitude toward the mines profitability is also inherently soviet

it's been a loss making venture for decades here increasing its efficiency is politically inconvenient. because coal mining is one of those russian president's speech programs a profitable we need to mine three times as much calls we do now is that since the positive finite we have to go slow. meanwhile russia has notably increased funding of scientific expeditions and spitzbergen and in africa to explore the archipelagos natural reaches. you could become a is a geologist who first arrived in baron's board in the early eighty's because of the soviet union tree geology for business but the recent afternoon state funding allowed him to come back as being the. key to all the arctic geographically it's a place where the global weather is before july for the ground for science and mining its oil gas and other minerals it's a place we. we can't afford to lose. and he's country seems to agree kind of we got

our key bearings works peter bergen archipelago and. you can stay with us until it is business now with nineteen. hello and welcome to business here on art see the world bank says the rest of the global economy are rising and so are the risks to russia's growth the slowdown in the u.s. and that crisis in europe are all weighing on the country's economy their old bank has cut its g.d.p. forecast to floor percent from four point four percent for this year but high oil prices and lower inflation could help russia sustain growth. well i think that you should really. look at your situation in russia is fairly favorable for a surplus that it probably almost doubles budget this year but i think that temporary paper which situation should be used. for sure is reading through

physical description of reducing the normal fiscal deficit in medium term which i think would be important for russia to significantly strengthen its fiscal position over the medium term so i think the overall picture is that the short term picture is favorable but they're really serious medium term a structural issue if they will go in russia or should be listening to climate in a disputation. interest their trips in. the us take a look at the markets that will start with boiler crude prices are higher right now after a three month employment figures in the euro zone john the most since the find out some mouth out in two thousand and eight european stocks are rallying after european policymakers said they were convinced greece would stay in the euro zone the first scene is out over one of the half her son saw that that says just under two and a half percent and here in moscow markets are echoing the pulse of the sunsets and

they are the my sense is having for its strongest close in the week as the e.u. support for greens improves the outlook for russian trade let's take a look up and that's move us on the my sights the sour oil majorettes name from b.p. is running on news that will invest denying a billion dollars in business over the next decade flexitarian air flosses in the black as well after a call packet service for about ten million dollars and bank of moscow is also on the rise and that's despite more corporate results the others net profit more than hard in the first eight months of the year so one hundred and six million dollars. now it's a dream many of us have that's a flaw in our own personal address and the russians of course are no exception. before the crisis business the tartars in russia are generating that's one over one billion dollars and once again it's taken off as michael reports.

pre-crisis the country's ultra rich were buying into this new level of privilege and luxury big time and it seems the good times are returning traffic is back to two thousand and seven levels and al is expected to grow by ten percent annually with its boss distances cool roads and under developed commercial infrastructure russia is tailor made for private aviation. in the last year alone the number of billionaires in russia went from sixty to over one hundred and then we look at the ultra high networks that also use airplanes for the overall industry at large that increased by fourteen percent year over year so we see the growth prospects in russia very good throughout europe middle east and africa but equally as good as any country in the recent tragic accidents of course pinpoints is that there is a potential growth the need to update the workplace obsolete it costs but what is still happening in the industry is the lack of proper legislation i think is russian aviation business and matures you're going to see

a lot more legislation drop and we have seen very positive signs in the last year that we believe we're going to see aircraft being registered in russia and more craft coming in the market here now a new rule allowing general aviation pilots to operate freely and uncontrolled airspace is a step forward and one has to take into account that russia is the world's largest country and with travel is key to moving around quickly and space liberalization is great but if you want to sit in this seat you going to have to find twenty two million goal is to take advantage of it. and also the business news for now the headlines are from now. the.

ok this is a scene of the future some french leaders visit the libyan capital in a show of support for the north origins just as the past long lines the rift within the national transitional council emerge meanwhile would marry a pension funds to back up in their devotion might cost and then once. more say russia says it's time cynics the un impose a no fly zone over libya introduced to save civilians the measures criticized as being ineffective as it doesn't help those trapped in the last remaining the

strongholds. and a blow for the billionaire who chants of politics russia's richest non-sensational quits as leader of the party he's headed to jump three months for a fall however doesn't seem to be giving up on his political ambitions as he hasn't ruled out running for the presidency next week. ok up next all the spotlight shines on tsotsi the hayseeds e of the twenty fourteen winter olympics and looks at the investment is the traps. hello my name is al green oz and i welcome you to spotlight the until you show up on hard to write us in the studio today is i b t so. the city of sochi

is not only the future olympic kept it has turned into the main economic attraction these days as hundreds of bankers and business men are attending the international investment for like many other countries russia has suffered an investment slump in recent years due to the global research now the prime freeze trying hard to recover by putting money into start up just begun as created a specialized strategic initiatives agency to help promote new ideas and the young business so what's their input and their mission we're asking the head of the new business department at this truth initiatives agency and also one of the saatchi forum participants i'll tell you why this is. according to official statistics foreigners invested almost one hundred fifteen billion dollars in the russian economy last year that's only six billion less than before the global recession

experts say however all the major developing economies like china are more attractive for the rest of the source the forum is one of the measures to improve. russia so will the newly established strategic initiatives agency promote promising startups that sports young players must make. sure it's going to welcome to the show well first of all you said this will be the first your first ever interview to exactly. my first experience so congratulations thank you take care relax and enjoy the whole thing well first of all you are attending the social what do you expect from the forum in such. i expect. maybe first of all a tour is about the agency the possibility to to introduce your agency to a wide wide public because it's the first introduction agency was started about

three weeks ago and its first introduction to investors to. different banks and old people well and now let's take a look at the evolution of these search investment forum which is taking place for the tenth time this year spotlights the reports. russia's most popular see signed resort first became a place to talk business ten years ago it started as a local event with the goal of attracting capital into the region the first ever such an investment forum could boast no more than a deal signed but that was enough to make big business come back for more the next year more and more of russia's regions join the event to compete for investment from big international players ranging from pepsi co to boeing two thousand and six became crucial to the forum or putin's visit significantly raised the profile of

the event and the you later it was no longer just this the resort hosting an investment for sochi won the bid for the two thousand and fourteen winter olympics the region so an investment boost which even the economic downturn could not dampened by two thousand and ten the number of deals signed that the sochi poor was measured in hundreds and their value in billions of u.s. dollars therefore is not only about striking deals though it's also place to discuss problems in the russian economy. russian business community miller he was a guest here in the studio a couple of months ago he for one is supporting many started projects in the united states in the silicon valley and i am i think you are you are aware of his business but. he has many others is reluctant

to invest money into russian projects and the projects here in this country why what's so wrong with the russian economy are the russian western climate that even the russians are investing into the country. there are a lot of different. areas of bare barriers and sort of administrative barriers commercial barriers and of course. for a medium especially for medium size business man it's very difficult to implement projects in life i don't know why. mr miller has problems. in investing in projects in russia because for large companies it's much easier to survive it's much easier to find. communication with the government much

easier to find financing for financing it's much easier to structure projects because they have a lot of serious specialists in their big structures maybe they do want to be surviving but the word to make this isn't have time. maybe maybe we don't know because the reason they are asking is where i ask the same question to mr miller and he said i will be interesting to watch me in a couple of months i will be putting money into projects in russia and he's still not doing that well well well this is history ok according to the government's program innovating development the main towns for years two thousand and eleven two thousand and thirteen is i quote to raise receptiveness are the economy and business to innovation this means that now russia is not prepared for innovations and. what does the plan russia as

a country what is it like to to to attract. and of course it's very difficult in russia for a moment and when we're talking about innovation. we need to talk about who is going to invest in such innovative projects when we're talking about agency where focusing on the medium business first of all because medium business is the key. is a key driver of any economy especially the russian economy and two and we are trying or of focusing on finding projects which are attractive innovating the projects which can be. replicated all over russia. o. would say medium business where the small business those large big business media what's what's the criteria of medium business for russians in this country rush

rush is very big country everything is bigger in russia in a linear thinker that's right you know. there is no any exact rules and exit criteria for a medium business for us it's a preliminary preliminary greatly rare medium project to project from ten million dollars and more than that more than ten million dollars less. of a billion or what we can say about. project. with a staff for less than one thousand people. what needs to be done. how does your agency see you in the process of supporting this media business. first to wall first the wall are the main idea of supporting the leaders of the business the young are into printers self-made. who want to

develop and to create their own business or but it's not just absolutely a startup they'll really did anything it's something and they want to continue their. business intrapreneur career what is prime minister putin supposed to play as the as the head of the supervisory board of eurasians first of all i would like to say that it was absolutely he's a dear and their idea belongs to mr putin of creating this agency agency and. his role number the role of mr putin and the role of agency would be a breach between into printers the leaders of the business and the

government. well we all know that that skolkovo of the in an innovative project is is the favorite toy favorite gadgets of present value so would you call this your agency the answer of put in to mitigate its project in skolkovo. i will tell the terse call cover is something separate and it is the answer because what his agency over the day you can usually do i will see is like a big communicator. with a very very friendly interface so we communicate with all development institutions with banks to raise financing with the government authorities with the regional government and. we help to find and to implement. the most exciting the most innovative projects

so so so your relations with skolkovo are what would you call it competition or rather around like health and support. it's first of all cooperation operation because if we find a good project we can ask for some grants from small cause and may can make it together with with skulk alone but. agency of thirty you can issue to something more because we. also. define different different barriers and help business to grow and to start up. says out of every t. sound one of these protests are planned south of the saatchi investment forum and i had the year business before you can have a strategic initiative. it's not like we'll be back shortly right up to brace

yourself stay with us there will be that little. decades back in tonic one thousand miles from the north pole. the arkema is ticking on a trip to spitzbergen on compelling go. where twenty years after the us is ours collapsed the soviet way of life is still going strong player in the world synonymous statue of lenin presides over a ghost plane or at the summit a largish has become a tourist site for those overcome by the cold war in a style check if the close up special edition on our t.v. . welcome

back to spotlight i'm angry now and just a reminder got my guest in the studio today is. one of the professor of the such an investment forum an ad of the new business the coin men at the strategic initiatives agency. strategic initiatives agency has recently been founded in russia to support financially young and talented and printers hoping to bring life to their innovative projects that is meant to prove that they do precious small and medium business according to the heart of bush's burbank home and graph over the last decade the sector of the economy doubled in size from ten to twenty percent of g.d.p. . despite the growth or she's alleging for behind bringing france on the you will

say where at least half of g.d.p. comes from small enterprises prime minister putin has recently named support for small and medium business among the country's priorities over the years the federal budget has been increasing the amount of subsidies it has sent out to the regions the development of small and medium business all over the practice has been criticised within the government itself the ministry of finance doubts the fact of nest of handouts rather than loans another problem is then willingness of russian capital to invest in start ups it's much easier for russian and tipper nurse to find understanding in money abroad ideas go west as a result the search for him looks cool sushant for reversing the trend. well. we we we saw you should biography in the beginning of the program you were

very young you just over thirty what did you achieve so far you've got a public figure so we don't know a lot about you what have you do. and which made you eligible for sites such a high position would only let me put in above you in a certain sense right. after greed in finance academy in moscow in one thousand and seven in one thousand nine hundred eight yeah i organized my own company i had nothing so my first company was consulting company because i didn't have enough money to making the investments and some others here and there i started with consulting in the valley in structuring projects. and now my company is. four hundred people working in a more score in we have affiliates in different regions of russia and. when i heard about a dear of

a mr putin of creating the edge and see it was. normal for me and. very interesting because. what i already did for thirteen years. you qualify for the job because of how the americans use your send an e-mail a one doesn't do e-mail he does mail it. sort of. contest that one was a tender it was a tender. send by email. via. the they're all howard's see they didn't see and etc and then on the twenty seventh of july. invited us and told the results tell me tell me what did you write to the prime minister how how did you impress him how you going to improve

the investment climate in russia because i have been asking this question here in this studio for more than a year now invade improving the climate what new what's new in your approach there deal the agency and the met the managers for managers who would work in the agency they should be businessmen who are all really created their own business because for businessmen to understand other business men is much easier then for government authority here for a government official for example that's why. i think the commission saw that i have experience of creating from zero my role on. medium business so you are having the department of the new businesses within the agency you said that the agency is aiming mostly at head medium business small business

but but new business must be to be small or not or i'm mistaken you know you you can be medium a business person or you heard can have all really. done something and you can have a factory for example but you want to start with something else new be insulated or you. we'll see you young or innovate you know you can have any idea of new business for example you want to make something which can be replicated in all regions of russia and you want to make your medium business try to grow up you want to be to become a very big large company and you come to agency and you come up with different problems and they can be problems over attractive financing find investors they can be problems of some administrative barriers commercial

barriers and all these thing we. help you to cope with. what's the criteria according to which you are going to evaluate the the success of the projects or the criteria is. we'll. be divided by two main groups one group or. our quality of pretty creature areas. it's the project should be innovative the project should be. long maybe social the project should can be the project. can be replicated in different regions and the most important criteria is the project should have a leader. that is the big difference between our sent some other institutions so it

was even i wasn't that you should make projects without leaders is it possible a new project without a leader there here and you project can. be organized by be company. we try to find a leader and we give opportunities for leaders. so you're little you're supporting . people rather than rather than just two businesses number one people because people and their personal ideals because we now live because below that a lot of businessmen interpreters we. did something in russia some of them go abroad and we want to motivate people to wick in russia and to build country where they would feel comfortable to work in to leave that's why.