cafes they're offering postal services they're offering somewhere to go in and talk to your neighbors and your friends and if working for free is what it takes to keep that it's hearing a shop open and so be it but i enjoy you know. i really do it's the kind of spirit that could see this tiny store whether the was just and hopefully stay open for another three hundred years party boy see north norfolk u.k. son thomas will be here with the business news after the break. the first baby steps are joy. folds and bumps are not a big deal. but they can cause terrible trauma.

for children can be broken by bare touch. and only the will of life can make all pain i'm sores way. fragile people on our team. here the reindeer is interesting for the herders. and when it suffers.

people do their best to help. the distances are. hello and welcome to our business program i'm sean thomas certainly glad to have you with us let's get right to it russia's gas giant gazprom sent ukraine's state run energy company a seven billion dollar bill for failing to import agreed natural gas volumes last

year in an echo of a conflict that twice just ruptured shipments to european customers in recent years there are fears another gas war is coming tatyana. explains. right sean agonist already adopted the third gas war they say that russia's castro has all the rights to cut to get supplies to ukraine if the country doesn't pay the fine if that happens get supplies to europe through creating may also be interrupted as it happened four years ago this time around castro has demanded that ukraine pays an unbearable for the ukraine's economy seven billion dollars fine the company says here has violated their existing take home pay contracts by cutting gas imports from russia it's not the first time ukraine cut gasoline prices but is the first time castro is imposing a fine analysts say there are several reasons why gastro is playing hardball this time. first ukraine's rhetoric has changed it now

aggressively claims that it can take as much gas as it wants and is not going to pay any penalties second ukraine refuses to somehow solve the issue of gazprom is buying into ukraine's gas transportation system even though the talks take place almost every week so i'd say the guys from just decided to impose all legal claims to the full selling its gas transport system to gazprom is one of ukraine's options to get cheaper gas from russia and the other is participating in the customs union with russia kazakhstan and belarus but that puts its plans for european integration under threat so ukraine is looking for ways to become less dependent on russian gas but all its attempts from building elegy plant to shall gas projects have so far proven a pipe dream. america's oil boom is now so big it is visible from space in

fact you can take a look at nighttime satellite images north dakota's bokken shale field which is right about here it is the oil field that transformed u.s. production in the past five years it shines almost as brightly as chicago and in fact this is chicago right here along lake michigan now the lights that you are seeing are flare stacks towers burning off natural gas from oil wells twenty four hours a day they highlight a less then sparkling side of the u.s. shale boom how development has outpaced investment in infrastructure to manage the unwanted associated gas that is released alongside oil production professor david elm from the warwick business school in london says that with the fast growth in shale gas production in the us there are lots of environmental concerns yet to be resolved environmental regulations in the states took a bit of time to really realize what was going on realized what the new production methods were but likewise companies were also trying to understand how they could

produce this gas economically so the question then becomes is you know what are the environmental issues and it's there's a lot of documentation that there's probably a number of concerns you know one is. if you are producing this gas how do you make sure that the gas isn't released you're using these horizontal drilling techniques and hydraulic fracturing techniques and then the question comes in all those techniques meaning that. undesired chemicals and so on are getting into water supplies and there are those the two main concerns about the environmental side of it that we're faced with today. on to the u.s. markets now u.s. stocks are mixed in this hour the down jones is down just a bit in the nasdaq is up just a bit as well now in the european markets it was a mixed session as well in fact. europeans london footsie if you see here it was up actually. and close lightly in the black in the german dax finished about

a third of a percent lower taking a look at the russian indices they finished strong in today's session both the r.t.s. and the my six a closed over one percent higher than they were previously. now and the russian ruble on to the currencies the lower they have been lowered to the major currencies of the ruble lost almost sixteen callbacks to both of the year end of us dollar. and staying with the currency markets russia may soon be dumping the euro the government has announced plans to review its foreign currency reserves you know gold piece going off as more russia's gold and currency reserves are estimated at around five hundred billion euros dollars it's quite a basket this needs protection especially in times of global economic turbulence right now around forty two percent of reserves are held in the euro denominated assets while the rest are mostly in u.s. but according to the prime minister the moscow is now considering swapping

a part of its europe reserves for equities in other currents so when we see the usual bass decrease and other currencies enter the steaming the chinese yuan or even the russian ruble this could be a troubling signal for the euro especially if other currencies follow the trend like china which holds a quarter of its deserves in europe that's around eight hundred billion us dollars you can imagine the importance of these investments and what could happen if a domino effect takes place. i've got a piece going off reporting for us there now finally colombia has a bit of a brand protection image going on colombia's taking steps to protect one of its national symbols the sum bro the country as bad of the sale of cheap chinese knockoffs that are killing the local brand chinese made imitations of the black and white some bros sell for half the twenty dollars price of the least expensive originals colombian artisans spend up to fifteen days cutting sun drying and braiding cane leaves to make

a single hand while the chinese knockoffs are plastic and a machine made violators will now face fines of three hundred thousand u.s. dollars for a hat and now the movers and shakers of the world's economy have all returned from the annual forum in davos however before that r t business managed to catch up with russia's aluminum tycoon pasko the exclusive interviews coming your way right after a short break right here on our to. represent the fiasco actually caused a fiasco by singing a song highly critical of president obama ironically at a concert in honor of his second inauguration according to the huffington post he was thrown off stage by security for insulting the dear leader the sounds really bad like something out of the one nine hundred eighty four were thugs come out of

nowhere the second you say something out of line about the party. to the song loopy was singing had been going on for thirty minutes at that point this rant was more like a hip hop filibuster stopping the whole show and dragging on and on and on the so i think security just wanted to silence him in general not silence as anti obama opinions so you know looping next time when you want to bring up obama's drone usage or total disregard for the constitution then keep it under three minutes and everything will be just fine but that's just my opinion. more news today violence has once again flared up if these are the images killed world has been seeing from the streets of canada. showing corporations are the day

. old. sonny's technology innovation called in these developments from around russia we've gone to the future covered. three couldn't take three days for charges free. range month free. three stooges free. download free broadcast live video for your media project free media or john darche dot com. this isn't your first time in davos and the focus this year is definitely on trying

to get the world economy out of its current crisis mode why do you think one of the key speakers was a meter and that if he was obviously showcasing of russia as an investment opportunity what do you think of the main hurdles at the moment that are not allowing foreign investors to flock to russia because maybe a better opportunity for us it's important to improve you know in the own situation and provides them with. you know more predictable climate. to gives them. more transparent picture of the world in the practice should be changed and i think that was the main reason why the government officials said there was a double is just to show that they have a strong commitment to not to do this what do you think is the first thing that needs to be done and what do you think the government should focus on to really address that first source is should change management of central bank because what

you're set in there's a whole country all around the world tried to curb problem which happened in two thousand and eight and we have completely opposite direction where with central bank which create more problems for the gross and try to support well speaking of the central bank when you had the opportunity to speak during a prime minister medvedev session the only thing. he said was that russia has two great banks d.t.b. ends their bank and that is certainly not enough can you elaborate on that can you tell me why you think that's not enough for a country like russia and what do you think needs to be done in this respect russia not just moscow russia not just resource sector you know russia is a waste but to you know from what you are still to some because from a good culture. of course. we should have been a better financial system but no one could grow it's not mushroom it's not enough to have a or a. financial system it's a commitment it was

a country commitment you know state institutions in the center bankers and the people you know to grow proper infrastructure for capital markets for the markets we already have in a view on opportunities and begin are not just going to try to build capital it's not even democracy we know one no one has interest in democracy we haven't lost this and we're trying to build capital is world capital as well as market economy without people who understand you know how to run enterprise in the private enterprise and with hail and this failure cost us almost to sort of jaded now would try to develop the country was that market would try to bring innovation we tried to bring. in the end user put unit to. not to benefit all w two without comparing what cost of capital in russia and was a country which would want to compete with germany was united states was

a career and we have a cost of capital which four times higher than the same cost of capital on us three times higher in korea and of course it's you know it's not in the market unity and this is what we should do and it's not foreign investment it's not so you know for you know for foreign media or i don't. it's our homework and we haven't started yet well the cost of capital in many ways is tied to inflation so that's one of the issues that should be tackled would you agree with that you know what thrush in the flesh in his nominates or base it's everyone knows even center back analysts in the shoulders and would not talk about no inflation. in the you know in the in the problem in the it's about money supply there is a very basic failure you know we don't have institutions would grow where we don't have middle class we don't have you know in the foreign investment which which

group which could provide money supplies and i saw this sentiment and sentiment bank should not suit and comfortable chairs in the teachin as it's a risk structural problem there isn't fallacious which could because lying ass actually bodes in the course what's going on we know the result was our cost of capital was in the cost of that and this is something that should be changed we did and how do you think it should be changed and how do you think these central banks approach could be changed what is the main problem what is the main reason for being the way it is the main problem is that people if you look at c.v.s. no one was in so in crowd banking you know what. you know almost market economy we still have a great in the state prisons was to have a lot of an efficiency but it's ridiculous we need to help people who experience a problem we need to know people who knows what's customer relations what's true customer relations and and solve this issue. it will it will it could run forever

you are very big on china. and there's been a lot of talk this time around in davos that africa is going to be the next china you have assets there would you agree with that assessment what prevents them from being the next hot spot for growth not go months not stability. not competence the lack of education. you know the resort of lark work work for us just a dream. where you mentioned the w t o and obviously that's one of the hot topics for russian general we have a lot of expectations but you know nobody really understands how our economy's going to benefit from the accession how do you think it's going to unravel it will not change monetary costs will number and if it's for sure that's an opportunity you need to use this opportunity but again if cost of capital and that in korea you

know most three times there isn't in the russia who would in the worst income corner somewhere in your old region and instead of a not to buy enterprise in korea you have to have a proper supply base productive workforce and no barrier to bring this complement back to russia is this is the reality and it's not a charity but what exactly what we're saying industrial people you know government first to prepare economy try to recognize what sector would be developed try to organize support for the sector and certainly not jump into this chart you know in the ocean well do you think that this a lot of available capital is one of the reasons why russia's economy is not diversifying away from its dependence on the energy exports at the rate that perhaps some would hope it's one of the one problems we need to have not just. diversification regional induced to occasion only four in the regions in russia

benefit of development for the last ten years. main problem is a human perception still people would not look at the business as opportunity to not to seoul you know many problems they still believes of the government should do not do some miracle to provide solution which is a huge mistake. of course no one wants to support the business on the. on the hard issues no we talk about and i'm sure for small montreux we'll get it just because we talk about access to infrastructure we talk about investments in infrastructure and we try to look at the development and transportation sector in an interest sector that would try to develop a system runs a customer yearly increase in tears will pay for development of utilities it's ridiculous you mentioned image and the perception that's really also been one of

the main issues here everybody's talking about the image of russia not quite being up to par not really quite being up to what the reality of doing business in russia is but yet according to many surveys less than thirty percent of russians are actually interested in having their own businesses that's a very low number compared to pretty much any developed country why do you think that is and do you think it's a matter of entrepreneurialism having you know a bad reputation or having the wrong image or do you think there are deeper underlying problems missing just so those accounts are recognize that so it's hard work and you need to come in to almost. free time you know to not to do it we need to help them to grow we need to reduce barrier you know to study the business as i said banking system munter opposed to access to resources infrastructure and through support of the regional girl month and

actually a fair budget system now we can so that all money from a budget to moscow and sandra distributed nature gets killed incentive for regional governors smiler enough to develop substance because then it would be equalized so there is a big divide between the center of moscow and the regions we all know about that and that's all. have been one of the issues discussed here before on a global level this divide between the rich and the poor the haves and the have nots how big of an issue do you think it is for russia unless we will not move our capital so. in the region like you've got to do in the book and i was abused good will it will be coming with warsaw and that section to create wrong signal for the labor market we have tracked so many people from their republic which actually. the great moral burden for the moscow all that says you

know some peat and region moscow region some pretreatment infrastructure and actually it will create more tension and this is completely unnecessary the only way to move capital somewhere not so close to moscow is a decided now because it's a mistaken to tried to develop same way like brazil did play because our star due to that would be very beneficial in the assault approach it looks like china is really driving the demand in the metals and mining sector at the moment do you think that's going to be the trend going forward. because industrial freeze is a new more commodity to complete programs so there's a cycle in china development one zero very far as growth rate in term so consumption all just come over to us and sacred misperception in the world it's all over. the we need to rationalize all to put not to meet demand not to

produce in the waste and not to produce and i tell him so resources for this talk and this is a reality as well bill less investment in mining sector. in the future and in the west should be very cautious you know to choose where to project to. if there will be less investment in the mining sector what other. sectors are you looking out for yourself or in the world look at the russian develop in the fracturing for national search and construction in the financial sector or what are you interested in it's a future story. ok thank you very much thank you. slim. lead. lead.

player. play. length. lead lead i lead.

victims multiply here each day. it's very profitable to invest in colombia with the very profitable also the it is a very high return on investment. is good though i mean he has said that either working in this area for thirty years you cannot always have to pay the armed groups in a meeting that is the new the managers have changed their name and strategy but just till the same murderous. high ranking suspects you no comment are you upset about that mr president you assume. the president and. both the media. i won't give an interview i'm sorry but no. investigation is a dead. man and he says he's sick and can't stop your bullshit and keep quiet or else you'll suffer the consequences. eagerness and your bodyguards to watch

themselves because the same goes for them. blood rivers from gold sage i've never heard of such a case as ours where so much money and gold has stolen so many years. for all the gold in colombia on our t.v. . sets. wealthy british style stock.

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