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hello are you watching business on r t welcome to the program as we have been reporting president vladimir putin has held a four and a half hour news conference on thursday touching upon the most pressing issues and some of that of course has to do with the country's economy let's go through some of the highlights with our business analyst. so dmitri does seem like one of the putin's main the message is was basically trying to bring the capital back home and to stop this massive capital flight is that your impression. the fact that the main goal russia is facing right now is the action which is a sounds like a heavy what it means is that russia has around one trillion dollars in money held abroad so it's basically companies which are operating in russia which are registered in shows such as the cayman islands or cyprus for example and what the

country's been striving to do is to get these companies back to have them clean and have them pay taxes basically at home because the budget is not getting the money that it should be but apparently this process is already gradually happening at least there's a slowdown of capital outflow we had around eighty billion dollars leave the country last year this year central bank says sixty five to sixty seven billion which is course still bad because you have billions of dollars leaving the country but at least this process of slowing down. right but one of the key questions of course is what's going to happen to those who already have their money there how we're going to bring that back well for that. you need a careful and civilized approach so basically there won't be any campaign or crusade launched against these companies actually we have for years now been talking about this and we've had experts saying that there needs to be some kind of amnesty system. stalled for people to be you know for their deeds to be forgotten

their capital really coming back to russia without any implications for that so what needs to be done is two things basically work within russia and that's creating a more friendly environment with a better protection of capital ownership for example lower taxes and at the same time abroad russia needs to cooperate with these officers to basically have more transparency to have more information as to who owns what and how that happened whether it's legal or not but of course this is a very pressing issue because we have this very big deal on the table with rosneft buying out what exactly and it's going to be like basically the russian shareholders are going to get twenty eight billion dollars in cash and that's precisely the point that i'm going to make sure that stays in the country everybody knows that russian shareholders and some of the richest richest people actually in russia they actually hold this ownership these assets through offshore

companies so basically how is that going to happen well for that. person himself what he thinks about think it was. if we recognize the lawful legitimate owners if they earn their money legally then it's their business where they invest i would very much like for them to invest the proceeds or a significant part in russia's economy or for that a lot of work must be done we are in contact right now with the main shareholders so we hope they will decide in favor of investing in russia. so they go so what russia needs to do is still a lot of work but hopes that this money will still be invested in the russian economy although of course you can't tell businessmen where to invest their money right and of course also the other issue that. been discussed a lot certainly among the international investors is the energy sector what it is

they are not everything there were there was several aspects that he touched upon and notably that's relations with the ukraine as we all know there have been many projects that russia was launching to avoid having ukraine as a transit partner and commented on that again saying that ukraine made a strategic mistake by not leasing the gas transportation system for russian and european partners to basically service and fill in and that was a big mistake so russia is looking at ways around this has been looking but is still open to basically negotiations with ukraine although ukraine so far is not willing to join the russia belarus kazakhstan bloc for the time being and of course he talked about the one of these projects outside of ukraine that's the pacific ocean pipeline as we know the second phase will be launched as early as next week so we'll be talking about that and definitely something to talk about thank you very much for this report me to mentor danko business analyst the i stock exchange

agreed to buy a rival new york stock exchange one of the world's best known trading powerhouses the deal worth about eight billion dollars will close in the second half of two thousand and thirteen pending of course regulatory approval which in this case is no formality the european commission blocked previous big merger attempts namely deutsche borse trying to buy the n.y.s.e. lot last year but patrick young of d.v. advisors says this deal is different. the intercontinental exchange the ice is the only really shareholder driven exchanges there it's created by a man geoff's record he's frankly been the best manager in the course of the last ten years and in exchange he's driving it forward like a genuine shareholder driven entrepreneur the new york stock exchange on the other hand that unfortunately has as is often the case with a two hundred year old organization it's managed to move itself forward in many

ways but ultimately it's stuck it still needs a lot of reform it needs somebody to really get in the ship and i really believe that the ice is management are the people to do that that really begs the question then why such a high premium on the n.y.s.e. doesn't sound like such a precious asset from what you're saying are well let's a very good point but i think here we have to really look at the history bear in mind the shares of the last few days of the new york stock exchange were done something like eighty percent eight zero percent from their all time high so i actually coming in today this premium yes it looks incredibly frothy to where the stock was trading only a couple of days ago but actually we're still talking about a share that's going to sell for essentially seventy percent or something like that or for its all time high valuation just before the credit crunch in that sense it's not that expensive a property i mean let's face it what does it bring the ultimate household name in finance if you think back there are only three or maybe four exchanges in the world

that pretty much everybody can manage to recognize whether they're young or old the new york stock exchange is the appeared to me brand of capitalism and as such it's probably not that expensive a price to be paying and that's all let us from the business desk of course again always find a lot more fresh stories and interviews that are to dot com business. the legacy no one should be proud of. scrap metal littering pristine arctic landscape building stilton over their foundation pipes black smoke over the snow covered peaks the traces of the soviet industrial activity on the spitzbergen archipelago don't make a pretty picture the guiding principle here is the worse the better local like to tell the story that back in soviet times when norwegians were visiting barons were

they also looks. at how prosperous this was well times have obviously kenya where they saw it lags they still are trapped in the region tourists are barons work i would watch needed cash that's why i was bad there ruining our goal is common as was uncovered here a few days ago instead of throwing it away the local administration decided to paint the bin you. had baron's work central square that can do nine hundred eighty bearings work was a burgeoning mining community union it was determined to maintain it all costs. are located halfway between north america and western europe bergen archipelago is part of norway with a special status that allows other countries to set up industrial bases here in the middle of the cold war it served as the use of western most outposts now it's one of the soviet union slask preserved relics. picture of

the soviet union if it was cut off from any financial support for two decades curious for western tourists and i think it could be even more appealing for russians trying. to keep its presence on spitsbergen russia still maintaining a coal mine here but in terms of profit is far behind local shops so between. bill it is a big hit the defunct aren't curtain still helps keep the money flowing guys it's all rushing through your film but you can't play raffles like your own ass off to. your local administration is increasingly under pressure to bring the infrastructure up to more than standards if these modernization efforts are not very popular with tourist operators if you come into a very authentic place like bond it should stay the way it is that would be my wish i mean that's the part of the letter you know authentic traditionally up to. i

should not i would not like to have it in a shiny condition to be honest this time to change even for the better is not always good for business something that even a local band has become attuned to when they try to add the morning russian songs to die repertoire it left the audience called all they wanted to hear it was a song comfortably familiar. in retaliation for the magnitsky act the state passed of the old ban and us citizens from adopting russian orphans do you think this is an appropriate response

she says children in the most deprived and helpless children are used as a tool in a political game. system in the but it's good but. it was first of all you say these two was in retaliation for the mckinney. so let me say a couple of warts first about this law school and what i think about it which i have spoken on this subject before but i would like to read to rate my views on this matter the bill will not and this is certainly an unfriendly anti russian act and this is not about banning some officials from having bank accounts all the property abroad the point is they replaced one antisocial russian arbil with another they just can't let go of the past and this is very bad news poison our relationship now to be sure you were raised and option of russian children by foreigners some of which far as i know opinion polls indicate that an overwhelming

majority of russian people are very negative about foreigners adopting our children we should do it ourselves we should encourage adoption of russian orphans or abandoned children by russian families but as for the us problem is not with the people who adopt russian children which of course there were some tragic incidents that we are aware of but the vast majority of people who adopt russian children are kind and decent people the state duma does not have a problem with those people the problem is with the position of the us authorities and what is their position when adopted russian the children are treated with us courts often ignore these crimes and let the offenders go unpunished if they even don't allow russian officials be present at trials as observers. what is that concerns us law made case so much on the by the rights of the mates in russian

jails. that's a good cause but they have many problems in their own country like i said the infamous prison in abu ghraib. one ton of people are kept for years without any charges this is outrageous not only do they keep people there without a charge they keep them in chains like in the middle ages but i think legalized torture in their own country can you imagine what it would be like if anything like that happened in our country they wouldn't get off our back there would be a media circus all over the world but when they did nobody says a word to go to the kremlin how many times did they promise to close guantanamo yet it is still there the prison is still functioning and we don't know they might still be torturing people there but also there are secret prisons run by the cia.

have they punished the people responsible for that. and yet they want to tell us about our problems well thank you we are well aware of them but using that as a pretext to pass an anti russian bill. outrageous and uncalled for. mr president i'm alexander kaleri reporter for argument. i'm adoptive parent myself and regardless of the foreign policy context i consider yesterday's amendments by the state jima excessive unreasonable and i write cannibalistic if you will excuse me the people who adopted this law are telling us that we already have enough money to look after all friends in our country and we have plenty of aspiring adoptive parents for the tens of thousands of parents children not exactly true rather it's absolutely not true prime minister medvedev has said we need new policies and new programs could you elaborate on the matter little in case you're interested my

personal experience from three years elderly that our entire alternate system regards adoptive parents as either a nuisance or a threat my personal greatest shock was the final stage of when we went to court where we were confronted with the grading and unlawful treatment for no particular reason i'm sorry for asking three questions instead of one i do hope some of my colleagues will ask specific questions regarding our judicial system thank you. far as yesterday's act is concerned i have already laid out my own i strongly disagree with you first of all i would like to read that this is not about specific people it's about the general attitude of american authorities with a record to emergency situations where children get victimized or have their rights infringed upon such cases are well known and so is the typical reaction by american authorities simply deny access to russian representatives when they. even allow

them into court as observers which they did what i consider it unacceptable what you do you think what they do is your property without them how can it be proper when the humiliate you enjoy that you is sadomasochists or something they shouldn't humiliate our country anyway it's true that we need to improve our own system besides we're not banning adoption by foreign nationals as such there are other countries apart from the united states. you know in some states they won't admit international election observers to polling stations do you like that. then why do you choose this kind of language with a law such as cannibalistic you have adopted a child and i truly respect that and i hope that many more people will follow your example you really are a decent person to have done that but it's true i know what i'm saying. yes for our judiciary which may be excessively scrupulous when examining adoption applications

it largely depends upon the personal qualities of a judge presiding over a specific case. but i remember how my good friend and former counterpart used their gerhard schroeder and opted to russian children love when it came to courting st petersburg but the judge asked them specifically how does he were elder daughter feel about the da. and when the girl replied why would anybody ask my opinion the judge insisted i'm asking your opinion if you don't want it i will not permit it so that makes a lot of sense because each family member must make their personal decision and the judicial system essentially relies upon this principle to a strict but fair because there is a separate problem and that is when adoptive parents terminate the dog once they have adopted the child there has been a significant number of such cases. a simplified approach is not appropriate here

and. society must be clear as to whether an aspiring adoptive parent is capable of raising and sustaining a child whether in government provided benefits will be sufficient to provide for a child those are criteria. mr president to quite a few journalists have gathered here and will have a lot of questions to ask the government to most people it is first and foremost you who embody the calendar over the twelve years you have built a tough even authoritarian regime of personal power and how vital the think this system is in the twenty first century or perhaps it hinders russia's development. i believe we have been able to ensure stability. this is a necessary prerequisite for development but i can't call the system authoritarian i can't agree with his statement the most conclusive proof of that was my decision

to take to the sidelines after my two consecutive out turns as president if i thought that an authoritarian or tele tarion system was the best choice for us i would have simply amended the constitution but it was easy to do one doesn't even need a nationwide referendum to do that it would have been sufficient to get it cleaned up today in parliament where we enjoyed a majority over three hundred votes stepping back was a totally conscious decision to both ensure continuity of power ensure respect for our country's constitution and its main laws. naturally back then i couldn't say for sure i would come back in four years especially since the crisis broke out and no one knew where it would go. that would have been a plain absurd that we all had to make it through tough times so there is no way i would be calling the system or thora tarion but if somebody who believes that democracy and observing laws are two different things they're highly delusional in

a democracy is first and foremost about observing the laws the anarchy of the ninety's largely discredited both market economy and democracy is such a fearful of them well that the these are different things so i believe that in no way does order discipline or observation of the law run counter to a democratic government. because i'd like to ask you the situation in syria as you know western countries there about turkey well they all think that bashar asad must go as well otherwise they say it is impossible to have nice in syria but trust it does not agree with this do you think this may leave russia isolated and eventually russia may lose its position in syria and even then time middle east. feel about it well has russia lost its position in libya after all the mass that the intervention forces created there. i don't know what their motives were but the

country's falling apart ethnic strife conflicts between tribes. eventually even the us ambassador there was killed can you call this kind of work at that. somebody asked me about my mistakes earlier don't you think this was a mistake if you want us to repeat such mistakes in other countries and again. what we care for is not the future of the acid rain we are fully aware of what is going on there that we realize that this family has been in power for forty years or so change is long overdue. we are more concerned about what will happen next which we don't want the opposition wants to comes to power to fight the current authorities will become the opposition because then this will go on forever. of course we care about our positions in this region and this region is close to us. but what we care about is not just our interests there actually we don't have any special interest

there we have almost no interest or do we have any particular economic relations with those countries no we don't. do you think president asad has been visiting moscow frequently know that he spent much more time in paris and other european capitals. we think it is necessary to find a solution that will save the country from disintegration. of civil war. russia's position is this close it is not our goal to help asad strange power at any cost we think first the people of syria should decide on how they see their future how they are going to ensure their security and their involvement in the government and only after that they should start changing existing system not vice versa but only if they can overthrow the government and then try to come to an agreement i don't think that agreements based on military victories are

inappropriately or that i don't think they will be effective they go out and as regards what may happen there is up to the people of syria themselves. divine power in action activate the sacraments. i am he she sees me as we are under the control of those governing us before at the service of a space mafia i found that they the magnetic field of the sun will be for us

to create the super got the stuff. after the second coming it will be a beautiful place it will receive its glory it will be a renewed world and it will be a beautiful place. full of the best. will stop this type of ammunition. it's good business for us it's kind of like being a doctor you know if there's a disaster businesses. better unfortunately.

more news today violence is once again flared up the floor and these are the images the world has been seeing from the streets of canada. the giant corporations are on the day play.

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