and gazprom has acknowledged to reduce gas supplies to european consumers all the details in twenty minutes in the business board. casting twenty four hours a day this is r.t. the european union is preparing a new batch of sanctions against syria which the french foreign minister says will be the harshest yet it comes after an e.u. backed resolution that could have paved the way for military intervention was struck down at the u.n. but we're also getting disturbing footage from the rebel stronghold city of homs which opposition sources say is being shelled by the syrian army there are reports of casualties no this can't be verified earlier opposition fighters operating out of homs attacked a number of police patrols and army bases elsewhere in the country security forces say they've cleared all two gravel up near the capital seizing vast caches of arms and. those are way. counting sanctions against. each and social networking sites have for the past ten months being one of the activists he means is offering the world glimpses of the violence this tool in three syria action is good support h

wouldn't you say that europeans have a point gazprom does in that respect seem like a monopoly. so you know in the relative guest broom has very few assets in the european downstream we can speak about german you we can speak about some assets and baltic states and not in the relative we can say that this because for example maybe it's a good opportunity for a gust problem because if there will be a move. there will be more competition and mom gets produces and you there will be a lack of gas on the european market means that there will be no need. to invest minute doing european guess infrastructure is a serious problem because no cars no assets and i mean serious asses and you will speak about implementation of the package just moved in the first week to all this process european companies will be the first week terms of these and bentley and and. that is why in my opinion for best moments a problem wolf first of all the problem of psychology because as a set of the now there is no need to invest money to european infrastructure europe must find these smart ambitious investmen

russia's gazprom has acknowledged that it temporarily reduced supplies to european customers the firm said it had cut deliveries by as much as ten percent the unusually cold weather in europe has boosted fuel demand in some countries to the highest level in years austria poland and six others claimed last week they were not receiving the contract at amount of gas the gas mildly now says it restored full supplies but it's still struggling to meet the increased european demand earlier gazprom accused ukraine of taking extra fuel from transit pipes. the current period of profound economic change has some talking about the new world order but who will be the winners and the losers marcos troil the head of a brazil based think tank the center for business the pool received offers has verdict. so we're in the midst of a transition phase what are the elements in this transition phase that i think will shape the world's. very straight very strong state owned enterprises from brazil russia india china a renewed innovative capacity in the us in knowledge intensive sectors they will create new f

staying with gazprom it seems the energy joy will remain under state control for the foreseeable future prime minister putin says privatization of the energy sector isn't favorable on the current market conditions but as the economy matures such a possibility cannot be ruled out over here did the government is reluctant to give up control of some key assets. to check out the markets on the exchange rate the dollar's join the euro in the red against the ruble the euro is continuing to shed against the greenback this hour as well. on your markets the price of brant and light sweet continuing to slip a key meeting of greek leaders on the new bailout has just been postponed to tomorrow investors fear failure to do a deal with confidence and demand for crude. now u.s. markets have opened some thirty five percent down this morning in new york on the back of bad economic news in greece and europe also profit taking going on a strong performance last week european shares have recovered a little in the last hour but they remain down for the day concerns over the greek economy is the main drag on

hello are you watching the business program on r t russia's gazprom has acknowledged that it temporarily reduced gas supplies to european consumers the company said it had to cut deliveries by as much as ten percent for more details i'm now joined by ups on a boy was that gal's problems head quarters so what reason has gazprom given for cutting gal supplies. yes the title of the figure that you just mentioned ten percent was was during a meeting between russia's prime minister and gas problems deputy c e o m drake or glow of crude glow sad that there is cuts to european suppliers stayed in place for just a few days and they were caused by an enormous search in domestic consumption russia as you may know is battling ever very severe cold damp right now with temperatures hovering far below the averages for this time of the year and this is a result the demand for heating fuel has significantly increased now also sad that as of now russia is supplying gas to europe in accordance with its contractual obligations he also said that some european countries that are also dealing with these unusu

now the biggest movers on the my sex gazprom is in the red and the news over gas supply cut to europe meanwhile the company's says its current output is up thirty percent compared to last year's average bucking the trend is v t v it's just a notch the sour and precious metal producer paul is gold is among the best performers. now speaking out for those gold. it's pulsing have to games on the banned drop of sliding in the seas and that's after gaining a whopping thirty five percent on friday with the company's capitalization reaching almost nine billion dollars analysts mention a number of factors among them a possible merger of oil is gold and its russian rival for the metal also the company's expected to buyback around four percent of the chairs for minority shareholders. and that's all we have time for in this edition of business i'll be back in about fifteen minutes i'll see it on. the issues that so much are going to try to go through them or so because they weren't the same search of determination and sovereignty this is what many scots say they want the real estate is an indepen

russia's gazprom has acknowledged reduced gas supplies to european customers over the weekend the firm's deputy head under a cruel goal of knowledge the cows giant had to cut deliveries to some european countries by as much as ten percent and this is against the backdrop of unusually cold weather in europe it boosted fuel demand in some countries to the highest level in years austria poland and six others claimed last week they were getting below the amount of gas specified in their contracts earlier gazprom blamed the ukraine for taking more fuel from the pipes the guys monopoly now says it's restored supplies and fall but it's still struggling to meet the increased european demand. the current period of profound economic change has some talking about the new world order who will be the winners and losers marcus troil the head of a brazil based think tank the center for business diplomacy offers his verdict that we're in the midst of a transition phase what are the elements in disposition phase that i think will shape the world. very straight very strong state owned enterprises from bra

now also moves on the my six today gazprom has slipped into the red but precious metals producers are on the rise the price of polymath to reach. today whether investors are cashing those gains at the moment polish gold is the best performer this hour extending last week's rise. for the school just posting fifty games board and eleven percent of the gaining a whopping thirty five percent on friday with the company's capsulize ation reaching almost nine billion dollars this mention a number of factors among them a possible merger of polish gold and its russian was poly metal also the company is expected to boy about four percent of its stocks from minority shareholders. come period of profound economic changes some talking about the new world order who will be the winners and losers are the head of a brazil based think tank the center for business diplomacy offers his verdict. but we're in the midst of a transition phase what are the elements in this transition phase that i think will shape the world. very straight very strong state owned enterprises from brazil russia india china a re

means it goes from says it's not making a statement because it's received no complaint previously gazprom says that it may preference russian consumers which is also suffering russia is also suffering from fairly cold weather at the moment ukraine and russia have accused of being behind these cuts but it is not really become clear what the real reason for these cuts is at the moment and we do expect this issue to toyed over where near the called received so more and more returns to normal. market watchers expect the darkness of euro zone debt problems to get some light soon ratings agency standard and poor's expects the currency union to gradually climb out of its mild recession in the second half of this year and into twenty eight thirteen therms chief european economist explains. the risks of the more severe recession. that could go into twenty thirteen are significant we estimate about forty percent probability yet i think we have to look at all the factors there has been some and poor wedging developments inside the year was own and outside the eurozone what we expect is at the moment

gazprom followed the overall market into the black in the last hour of trade precious metals producer growth on the rise the price of holy metal reached an all time high earlier today but the investors cashed those gains in the afternoon p.t.b. bank is down on news it will use its own profit to compensate the losses of minority shareholders the government has ordered them and the boy back shares from over one hundred thousand investors who brought the stock in two thousand and seven to roughly double the current market price. gold was not a hefty gain on monday putting on almost eight percent that's on top of friday's fantastic thirty five percent rise of the company's capitalization reaching almost nine billion dollars this mention a number of factors among them a possible merger with russian rival poly metal also the company is expected to buy back four percent of its stock from minority shareholders. that's the comparative profound economic change has some talking about the new world order who will be the winners and losers marcus troyer the head of a brazil based think tank the ce

was also strong in the close one point six percent off and gazprom adds more than one percent despite the gas supply sure it's. moving on so well now and it's also turn positive right of the year publishing that data on unemployment light swedes are powerful ball of brant more than one dollar per pound . matters next with the headlines to stay with us. the close some team has been to the whole bar of screen. where the country's mineral wealth starts its way across the ocean. now our team goes to the area. was named dr lenin but looking to a different character to represent itself. for local businesses are striving to build the aviation capital of russia. that's where the four by fours are made and can be tested to the limits. welcome to the illyana screeching. russia close up. its.

booking to the business program here on russia's gazprom has acknowledged that it temporarily reduced gas supplies to european customers at the end of last week the company said it was forced to cut deliveries due to unusually high the mystic demand for more details on your books on the boy probably headquarters else on earth thanks for joining us what reason did goes pro give for cutting supplies. well daniel just a couple of minutes ago arts and business had a chance to interview alexander made of it he's gas pumps deputy c.e.o. all for responsible for our gas exports to europe and what he told us is that indeed the company has to cut its gas supplies to europe by ten percent for just a couple of days according to me that if he said that it was partially due to these i'm usually called temperatures that are still holding a russia and their grip and. satisfying domestic demand was the company's top priority but at the same time alexander mitigated also pointed out that european demand for gas has increased by about fifty percent in january above the bowl games that were initially a c

a drag the my six has slipped into negative ground in the last few hours and moves on the my six gazprom has slipped into the red but precious metal producers are on the rise the price of poly metal reached an all time high earlier today although investors are cashing those gains at the moment gold is the best performer this hour extending last week's roys. gold is posting have to gain more than eleven percent the sellers after gaining a whopping thirty five percent on friday with the company's capitalization reaching almost nine billion dollars. a number of factors among them a possible merger of political and its russian wyvil polymaths or also the company is expected to buy back four percent of its stocks from minority shareholders. now the current period of profound economic change has some talking about a new world order who will be the winners and losers marcus troyer the head of a brazil based think tank the center for business diplomacy offers his verdict. but we're in the midst of a transition phase what are the elements in this transition phase that i think will shape the world

energy commission or good to gazprom did warn of potential shortages and for the last three days several states from the likes of poland to italy and austria said there have been caught no there has been increasingly cold weather in europe so that means that the more and has risen but those countries have got reserves for such a contingency the european or g. companies have not complained yet officially which means it goes from says it's not making a statement because it's received no complaint previously gazprom says that it may preference russian consumers which is also suffering russia is also suffering from fairly cold weather at the moment but ukraine and russia have accused of being behind these calls but it is not really become clear what the real reason for these cuts is at the moment and we do expect this issue to toilet over where near the called received so more and more do turns to normal market watchers expect the darkness of eurozone debt problems to get some light suit ratings agency standard and poor's expects the housing union to gradually climb out of its mild recession

the business was gazprom has acknowledged that it temporarily reduced supplies to european coast them as at the end of last week deliveries to some countries were cut by ten percent this was due to high demand in russia caused unusually cold with all the energy joins it's now made up the shortfall in supply to europe and is pushing production to the maximum plus the week of just them but as the month jumped twenty five percent it will go through with the position that the meat and the orders in kuwait is no but the first week of february it was another job if he didn't mean to but if so that was it but he was to the plus fifty percent little dissipated little. gas prices in europe have shot up to their highest level since two thousand and six but alexander medvedev says the market is an illusion as there is no extra gas in the system support market demonstrated that actually there is no real sport market in the usual market is fragmented that isn't the williams it's a lot of speculation to the there's a sport prices there's a price of a long term contract on leverage and continue to g

is also known as the third energy package this package falls down to this that companies such as gazprom should not be allowed to own production and transportation networks at the same time he has always been critical of the idea saying it aims destroying energy pricing formula that depends on the oil price and it's and is used in in the country now money has not been a very successful day for the global equity markets the russian stocks are mixed the r.t.s. is nearly half a percent off and in my view it's a slightly down this hour here the biggest movers on the my six russian bank the t.b.'s the trend and is adding more than one and a half percent but gazprom and if they're not that successful and are still trading in the red now europe was lower as well the forty and the dax are both sliding and the g twenty meeting over the weekend has added pressure on the euro zone to boost its a bailout fund and investors are now looking out for germany to approve a greek rescue package or is also declining on monday holding its longest rally tensions over iran's nuclear program have been one of th

and now some individual movers on my segues gazprom is higher after seeing some losses earlier in the day and precious metal producers are on the rise the price of oil in bethel reached an all time high today at the moment it's a bit off those highs dollars gold is one of the best performers this hour is extending last week's gains. and some of the details about ford has called this posting have to gains more than eleven percent the sour against the backdrop of sliding indices amounts after gaining a whopping thirty five percent on friday but the company's capitalization now reaching almost nine billion dollars analysts mention a couple of reasons among the possible merger of oil is gold and it's made of russian rival oil in the tal which is also gaining as i mentioned and also the company is expected to buy back around four percent of the shares from minority shareholders and that's all the latest from the business that i'll be back in about fifteen minutes. culture is the same of jargon but you know larry the muslim world of censorship terminations and sovereignty this is what many

which is bucking the downward trend the sour and energy majors gazprom and draws now they're pretty much what. investors among deals to reacting to the results of the g twenty summit over the weekend and they'll have plenty of statistics to react to throughout the week namely the fourth quarter g.d.p. data and the home sales numbers coming out of the united states and by thursday the p.m.i. or production managers index coming out of china it's an important indicator of the health of the chinese economy and a bit more on the g. twenty summit the leaders of the world's leading economies met in mexico to try and iron out their differences when it comes to the second european of rescue package of course the idea there is that europe house to put up its own money first before the press the world chips in and helps but the main sticking point there was germany it said it will make a decision by sometime in march on whether or not it wants to put any more money into the bailout fund and it looks like the european the investors are not very impressed with these meeting results at this point basi

third energy package essentially it's an energy market reform that suggests that companies such as gazprom should not be allowed to own production and transportation networks at the same time putin has long been critical of this idea centrally saying that aims to destroy the energy market formula that ties the price of gas to the price of oil but it doesn't seem like it's really phasing investors at least not those here in russia the markets in moscow the r.t.s. and the my six opened on monday on a quite upbeat note they are trading in the red the sour but that's mainly in sympathy with the european indices and one of the biggest movers on the y. six is russia's second largest bank v t v it's actually managing to buck the downward trend and energy majors gazprom and draws now they're pretty much flat this hour. investors on monday are also reacting to one of the biggest stories and that's of course the g. twenty summit over the weekend the finance ministers of the world's leading economies met in mexico to try and iron out their differences when it comes to these second rescue package for

that this is fine for the meanwhile while they do have enough reserves to cover any shortages now gazprom says it won't be making a statement as there has been no official complaint from those countries which are also suffering from the cauldron that those worries demand for things like heating so there has been no official complaint yet from will not be releasing a statement at the time being yes from had previously said it's looking at preference in russian consumers which are also suffering from the cold here we are seeing record cold for this winter at the moment european union is saying that is looking continuing to monitor the situation we have also noticed ukraine and russia accusing each other being behind these shortages but neither side has really been confirmed and that is unclear at the moment so we do expect the situation to detroit over once the cold situation recovers walls it gets warmer and then we do expect or demand to return to normal for this gas supplies to also return to the normal situation. all right daniel thank you very much that was our correspondent daniel sch

gazprom was close to finalizing its long run in talks on gas supplies to china they had on the forums for brunch looks on them with dread of hope so strike a deal in the near future the parties are struggling to agree on construction of a new pipeline see energy from russia siberia to asia but alexandre madrid is believed trying to will finally come to terms to provide. a truly were. just a few. run perimeter which will. construction projects and projects in the russian chain you say it could make the job in china. i was assured of this argument will be taken into account but we believe that your correction of those politician cause changes price should be the same level like europeans. well let's take a look at the markets well let's start with all crude this rising after european leaders pushed greece for stronger commitments of austerity package in return for a second bailout is in concerns over the region's debt crisis which maker of demand for oil some crude to higher light sweet is currently trading over one hundred one dollars per barrel while the broad blend is just above one

meanwhile to end the day floods let's take a look at some of the main movers on the mind six on monday gazprom followed the overall market into the black in the last hour of trade precious metals producers rules on the rise the price of poly metal reached an all time high earlier today although investors cashed those gains in the afternoon d.t.b. bank is down more news it will use its own profit to compensate the losses of minority shareholders the government has all the boy back shares for over one hundred thousand investors who bought stock in two thousand and seven roughly double the current market price. for his gold is posting hefty gains that more than eight percent this hours after gaining a whopping thirty five percent on friday with the company's capitalization reaching almost nine billion dollars and this mention a number of factors among them a possible merger with russian rival polymath so also the company is expected to buy about four percent of its stock from minority shareholders. that's all the business news headlines are next on r.t. . british sign it's time to. go. to the. ma

speculation that it will have a merger with the russia's second largest gold producer falling metal band gazprom is down among other g. shares and the financials on the also not feeling very well bt be declining point seven percent. take a look at the exchange rates this hour and the euro is strengthening that versus the dollar five just a notch both the european and u.s. currencies are gaining a small fraction against the russian. moving on to oil now and it's a turning of positive light sweet as a fourteen cents a brant is out to one hundred twelve dollars or thirty cents. coming up next on out see the headlines with carol do stay with us. a soulless substance. cannot touch like a well trained army. villages in ruins. for thailand where time stands still. all becomes a sea of nothingness. the mysterious sons of russia. are teaching. the world live from syria its technology innovation all the latest developments from around russia we've got the future covered. welcome back a time for a look at the headlines now protests spread across egypt with more killings reported as people vent their anger

seven percent mainly driven by energy and financial shares as you can see there are on the figures gazprom point seven percent gas burbank up three quarters of a percent continuing its long rally but russia's biggest beer brewer baltic is among the main gainers up fourteen percent on news its parent company. will be buying out the remaining twenty percent stake involved at a premium to markets. and the euro is seeing some gains versus the greenback doesn't hopes the european leaders would sign on to reach a second bailout package and on china's montreal easing over the weekend in russia the group will weakened versus the euro but strengthen versus. cash strapped ukraine may get yet another discount for russian gas the energy ministry in moscow is calling for the resumption of negotiations now follows a decision by gas prom last week to cut prices for european customers by ten percent maximum score from u.b.s. believes the russian gas monopoly will have to offer more concessions if it wants to remain. insulated the ball decision because you have to somehow. sustain your market share in the

is now over the sides are look like let's put on that and that's movers on the my site gazprom is our twenty's its european market share grew by waterside such points to twenty seven percent last year so drug maker farm standard has managed through a razor earlier losses and is now back in positive territory and us after the company increased revenues fall over a lot of percent around one and a half. billion dollars in sea powers the eleven and bucking the clown the souers gold maker of hollywood's golden rights when news merger talks between a company and another by their polymaths all have collapsed north of unsigned from that simple financial corporation takes a look ahead to this week straight. this week is going to be. very important in terms of markets to do so there's a bunch of market statistics going all over the united states and. compared to the previous week where there was very little of a marker data here in the market this is a week is very very busy and i think they restart their remains haris or we will a like we see market moving higher the russian market will. accus

on the individual moves then although my says gazprom finished a third of cent in the red as the company. took my to come out it was also down the company's net profit raised thirty three million dollars last year that's a seventy four million dollar loss a year before. golden razor gains all the reports about his failed tie up with. the red colors today a multi billion dollar budget between russian miners polarized gold the metal has failed but it mostly newspapers cite sources close to the talks the saying polly ross gold is not satisfied with the tub. of rushes of lawyers gold mining mckillop claims the doesn't need additional assets in the country the company now wants to merge with one of its foreign rivals dulls and pull the mass so our joint around seventeen billion dollars that merger would have created the nine biggest coal mine in the wild. so for now i'll be back in about fifty five minutes small market small business. but. let's try for failure. leon there's no we're going to see the film on the screen if you want to have sex go and have sex. the twenty four hours a day this

momentum thanks to the higher crude prices where we've been talking about earlier in the program gazprom a point seven percent financials are also strong is burbank almost one. percentile but the outstanding game is the russia's biggest be a brew a bowl ticker that's the news its parent company calls burke will buy the remaining twenty percent say in baltic with a premium to be among the price of. the euro meanwhile seeing some gains versus the dollar that's in hopes the european leaders would sign off on greece's the second bailout package and also on the fact that china is among three easing occurred over the weekend and the russian ruble strengthening versus the top. foreign investors are eyeing russia's regions as according to key will be three of the head of the country's direct investment fund speaking as an economic forum in siberia he told business l.t. about the main attractions for foreign money in russia as a response of the interest of logistics area that's very important there is quite a bit of interest in the infrastructure and those are very specific projects so for exampl

and the biggest movers on the my six energy majors a gaining momentum thanks to higher crude prices gazprom and move forward. putting on around stars overside each banking stocks are also opposite bankers topping the list more than one percent in the black this hour. since the start of the year merging markets are seeing of record cash inflows more than four hundred fifty million dollars flowed into russia focused funds over the past three weeks mark from moscow based metropole i.f.c. explains the growing risk appetite for some managers there are changing their locations towards more aggressive mean more equity more emerging markets exposure that's what we see this of course is on the back of the general. improvement in expectations for all the market economics picture this year and there's i think and i think most of the fund managers pretty much priced in the greek default and greece exiting the euro zone and this is. not happening and then used to be then taken back there's so all this you know that things which were priced in the their equities and their high risk gasses need to be bid

percent this hour take a look at the main the movers on the my six and these are energy shares with gazprom one point seven percent on high oil prices and financials was burbank up point eight percent continuing a two week long rally but the outstanding gain is russia's biggest beer brew of baltic now that's on news its parent company carlsberg will buy the remaining twenty percent stake in ball to go with a premium to move over to currencies and the euro is gaining versus the dollar and that's on hopes that european leaders would sign off on greeks greece's a second bailout package and on china's monetary easing over the weekend. foreign investors are eyeing russia's regions that's according to kill dmitry of the head of the country's direct investment fund speaking as an economic forum in siberia it's all business the main attractions for foreign money in russia. as a response of the interest of logistics area that's very important there is quite a bit of interest in the infrastructure and those are very specific projects so for example airport infrastructure is very interesting and with

a look at the main movers on the miser xander g mages are gaining momentum thanks to crude prices gazprom is up four point six percent this financial stocks are also strong as burbank continuing its impressive climb we've been seeing the past two weeks is up another point eight percent and russia's biggest. be a brew a bowl ticket is among the main game is that's all news its parent company calls will buy the remaining twenty percent stake in both with a green. now to currencies so we are seeing the strengthening of the euro versus the dollar that's on hopes that the european leaders would sign off on greece's a second bailout package and on china's one treaty zing over the weekend the ruble is strengthening versus the dollar but we think slightly versus the year foreign investors are eyeing russia's regions that's according to keel dmitry of the head of the country's investment fund speaking at an economic forum in siberia told business out say about the main attractions for foreign money in russia as a response of the interest of logistics area that's very important there is quite a bit

said a buy back from minority shareholders is possible and energy majors are also in the black with gazprom gaining one percent. to exchange rates now the euro is continuing its recovery versus the dollar now losing by just a north european union official says the block has asked the euro zone to help provide an extra fifteen billion euros for debt ridden greece whereas the ruble has strengthened versus both cards. and other news the world's largest publicly traded commodity supplied land poison merger talks with another mining giant xstrata both are listed in london glencore ready holds thirty four percent of extras which is valued at first the five billion dollars if the tie up goes smoothly the combined company will have a capital ration of about eighty billion dollars and would be the first largest mining company and. their problems in the e.u. have spurred concerns over financial stability in a number of other economies including russia has around half of the country's turnover depends on yours and states but the head of russia's biggest lenders burbank believes better times are around

biggest movers on the my sex energy majors are gaining momentum thanks to that crude price increase gazprom and lukoil of putting on more than two thirds of a percent each banking stocks are also ups their bank is topping the list more than one percent higher this hour. and i want to currencies the euro is seeing some gains against the dollar but it's lower to the ruble supported by stronger crude the dollar's also losing against the russian turns to. since the start of the year emerging markets are seeing record cash inflows more than four hundred fifty million dollars flowed to russia focused funds over the past three weeks mark rubenstein from moscow based metropol i have seeks planes the growing risk appetite . some managers there are changing their like asian stores more aggressive mean more equity more emerging markets exposure that's what we mean seeing this of course is on the back of the general. improvements in expectations of the market economics picture this year there's i think and i think most of their fund managers pretty much priced in their greek default and greece exiting

individual chevy's on them i say the energy stocks are on the rise to pull to buy stronger crude with gazprom a third of a percent in the black financials also office point eight percent higher a rating by economist magazine schools as the world's second best. in terms of return on investment over the past decade and call my get asked about is also again it's up haul five percent this. french comic around else has for the first time seen a profit from its investment in russia after a vast forty nine million euro to the european shareholder in twenty eleven that's compared to a twenty one million euro loss in the previous year when elma san owns twenty five percent enough to vasant expects eight percent growth in earnings this year russian business is being hit by western sanctions against iran over its nuclear program the gulf state take supports me fifty percent of russia's still exports try to cross the caspian sea is being severely impacted because of restrictions imposed by u.s. banks it's going to or a cove off from industry research group plas explains what's going wrong. any bank that

in the austrian slovakia say they're all getting between twenty and thirty percent less than usual gazprom says it's perplexed about the declines it claims it to raise deliveries by twenty percent last week to meet extra demand caused by the exceptionally cold weather sweeping the continent the russian gas monopoly points the finger at transit country ukraine for taking more gas than contract it however of denies these allegations and says it's keeping to the terms of agreement and that it's a gas problem that's reduce the pressure in the. market watchers expect the darkness of the euro zone their problems to get some light suit ratings agency standard and poor's expects the currency union to gradually climb out of its mild recession in the second half of this year and into twenty first the firms achieved european economies designed he said see explained. the risks of the more cvo recession. that could go into twenty thirteen are significant we estimate about forty percent probability yet i think we have to look at all the fact is there has been some and poor edging ever upwards inside the

gazprom as close to finalizing its long run in talks on gas supplies to china the head of the firm's export branch oleksandr madrid of hopes to strike a deal in the near future at the moment the parties are struggling to agree on construction of a new pipeline to pump energy from russia siberia asia but alex other madrid of police trying the will finally come to terms with russia truly with. just. one perimeter which will. construction projects that three projects in the russian changes so it could make the job of ensuring the. sure of this argument will be taken into account we believe that your correction of those politician because changes price should be the same level of european support. all right let's take a look at the markets now we'll start with exchange rates so that the euro is a little bit against the dollar at the scene some of the losses are issues that are in the ruble is higher against both the european and the u.s. currencies following gains on the russian market let's look a look at the oil prices crude is rising after the european leaders pushed greece for strong

baby is gaining just under seven percent and energy majors are also watched with gazprom point seven percent above all clinton's time from. believes that the general made will continue to keep the last bob still movements are likely out of the key day so late in the session. we're going to get a very important i say the most important. marker data these days this is u.s. labor market report. it's a general labor every pore it's going to come out before us market opens expectations that american economy created hundred fifty thousand new jobs fall into a gain of joinder thousand back in december a lot of investors will be waiting for that number and we have seen on the sidelines we might see a pause in there ali if we look at the valuations they're still not very demanding and if you look at the russian market for example it is trading at less than six times earnings and just back in june a trade at about a half nine times earnings so there's been a very significant drop in the valuations in the market and in in the indexes and also in the valuations of the russian companies. the glob

three point seven percent moving the my sex was traditionally energy shares and financial shares gazprom up three point six percent those higher oil prices v t v was the widely traded stock in the session up three point six percent and seven still up two point two percent on higher commodity prices the metal sector is seeing gains on high commodity prices it was alexander the lead in for measurable it's the wraps up this week straight. from the beginning of the week when we have seen some. mission in the greece and finally in the greek it was actually not that much appreciated by investors as we have seen we have seen a slight correction for a couple of days after that but later on friday finally closer to the end of the day we have seen very firm growth for russia which was also basically. supported by growing the oil price way grow in russian currency and by some positive releases all the economic data from us and from europe. france's largest internet company e-mailed us reported a fifty three percent increase in earnings for the second half of two thousand and seven has benefited fro

and now the biggest movers on the my sex editor majors and gaining momentum thanks to higher crude gazprom and luke weller putting on around one percent of our banking stocks also off severe back this time coalesced more than one percent. last week broad gains to the global equity markets greece move it moved a step closer to the second round of bailouts and the upbeat economic news from the states boosted risk appetites should traders expect the rally to resume this week mark rubenstein for metropol financials in moscow outlines the main drivers for the week ahead and their meeting of the euro zone finance ministers is scheduled for monday in the late afternoon and it is expected and expectations are growing that there will be a decision made on their approval of the second tranche of their on the second package of the france trade for greece and also at the same time could be similar to prove their restructuring or the write off their voluntary write off of their dead by private shareholders about private debt holders. foreign investors are eyeing russia's regions that's according to kil

west and of germany gazprom so long term supply contracts are indexed to the price of crude but the influx of cheap spark gas prices has emboldened its customers to demand the company switch from an oil based formula. let's take a look at the markets now currencies for us the euro is trading a bit higher to both the dollar and the ruble on hopes greece will see a long awaited bailout deal next week and the ruble is high against the u.s. currency supported by stronger crude. looking at oil now it's heading for its biggest weekly gain this year as encouraging signs from the u.s. the biggest consumer of crude is bolstering the outlook for fuel to mount. european stock markets are high and best as us like the more optimistic of fresh u.s. economic data banks leave the gains on reports that the european central bank and european officials are moving closer to an agreement to close greece's funding gap in germany commerzbank gained one point seven percent and bank took on one point three percent. the russian markets are mixed this hour with a miser sliding into the red erasing earlier games let'

seven percent traditionally these gains were driven by the energy sector in the financial sector gazprom up three point seven push. sent on high oil prices b t b the most. largely traded stock in friday's session of more than four percent the metal sector was overall seeing gains on i commodities although it's a different picture for sevastopol after it's reports that is planning to expand in southeast asia how does on the eve give from measurable i've seen wraps up this week straight. from the beginning of the week when we have seen some new information on the greece and finally decision on the greek bailout it was actually not that much appreciated by investors as we have seen we have seen a slight correction for a couple of days after that but later on friday finally closer to the end of the day we have seen very firm growth for russia which was also basically. supported by growing oil price way grow in russian currency robel and by some positive releases all the economic data from us and from europe all right more business news in fifty five minutes time i'll be here with an update k