a professor of political science at the university of tehran thank you well kareena is here now with the latest from the world of the business news so. gary i have agreed on the route for the new south stream pipeline without involving gas from kareena can you tell us any reaction from from gasper on this. well well rory guess from is against the plan because it would mean along a pipe and that in turn will make the russian fun project more expensive details coming up in a moment but first. russia's loss is due to the forest and p. five still raging across the country could reach fifteen billion dollars according to early estimates the record temperatures this summer and cost at least one percent of g.d.p. growth most of the money will be spent on restoring houses and compensation the first official figures are expected next week as part of the federal statistics service report on the production the long term impact is unlikely to be known until the end of it here at some experts are already claiming the impact will not be significant. all of the direct costs like the expense of exti

to be a new beginning instead it was a fiery end just one day after giving birth to baby victoria kareena and alexandra killings house was burnt to the ground it was one of the many inverted nish destroyed by the fierce fire that tore through people's homes leaving devastation in its wake. we've lived here for five years and now this is all that remains of a home now they have to stay in a refuge center one of two in the city that has been set up to help those that been left came. when inter victoria which means victory so i think when we come in from the fires. i think everything will be all right we've got enough help and our life has just started with a hit wake in tenure and fires still burning throughout central russia many towns villages and homes remain an. emergency services have been battling to gain control of the situation. now the situation is under control at least eighty houses have burned down during the fire at least one person died in this village probably when the man desperately trying to leave his burning house was struck by a falling one of the electric shock killed h

not your bag i can tell you we've got a much more conventional business update coming your way with kareena just a couple of minutes time you're on our team tonight all right let me take to some world news in brief pakistan is preparing for a second round of flooding as the indus river swells to dangerous high presence adare mean tons visit the worst hit regions thursday after criticism that he was abroad during the country's worst natural catastrophe roads and crops are being destroyed survivors are under threat from hunger and disease that disasters claimed more than sixteen hundred lives so far while over fourteen million have been affected. me on mars announced the date of its first general election in twenty years the votes to be held on november the seventh but critics are skeptical about the legitimacy of the election is key opposition figures are barred from standing the national democracy league won the last poll in one thousand nine hundred get they weren't allowed into office by the military jointed. it's ruled the country since the early sixty's the party says it plans to boycot

well so many have lost their houses to the fire kareena and alexandra remain great knowing that like they could have lost a lot more now the country's leaders also promised to provide assistance to these people we've heard prime minister payton say the families that have lost homes will be receiving one hundred thousand dollars and hopefully this will be used to rebuild their homes by october now but obviously the people having to deal with the situation that they've been left in now those two verses. in which we finished huge amount of volunteers coming forward and bringing clothes and food and just offering general assistance to these people that have been left in this situation. i was at work when my son called me and there is a foreign clues to our home i rushed home but in fifteen minutes he called back instead everything and there are no foreign fighters here when they tried to come closer to the homes there was panicking everyone people from the hospital which was in flames. any one. of them to have seen my children. with a friend with my children their faces were. they were f

well so many have lost their houses to the fire kareena and alexandra remain great. they could have lost a lot more. for a knish. what a blanket of small continues to cover with a strong smell of smoke being felt across the city water being planned of the capitol and across russia to pray for rain out soft. called on wash to do you say visiting one of the worst affected regions in russia forecasters predict temperatures of up to forty one degrees celsius in moscow this week. still ahead this hour the european fall is getting some serious food for thought. less than a decade ago and garion ducks were sold to everywhere across western europe and the c.i.s. but now that all are of this dog for us to seek other markets including japan and china it has been very hard for him to sell it because on continent. wide joining the european union is leaving home during his land of plenty of the sad. chinese authorities say they've managed to retrieve almost all of the barrels which was sweeping down the flooded river towards russia but the worry is that several drums are thought

and of the businesses next with kareena. how do i welcome to our business program here in our thanks for joining me russia's ministry of agriculture has cut its grain harvest forecast for this year to between sixty and sixty five million tons that's around thirty percent lower than in two thousand and nine and according to prime minister that he would put in the ban on grain export won't be lifted anytime soon. even with the harvested we will cover our domestic needs you know this year the question is what the country will have next two years we don't know what the harvest will be and we don't know what we will carry out this year we will review our decision to ban grain imports only in line with what the what's the problem is that we're not able to seed winter crops because of the heat lifting the more unhappy. for more and the effects the drought and forest fires in russia will have on global food prices where now drawing live from london karen award chief global economist at h.s.b.c. hello to karen thanks for joining now

well so many have lost their houses to the fire kareena and alexandra remain great like so they could have lost a lot more surf. for. still ahead this hour the european farmer serious food for people. less than a decade ago were sold to everywhere across western europe and the sea but now the owner of the stock farm other markets including china has been very hard for him to sell it on called. european union is meeting hungary's land of plenty to be done to success. chinese authorities say they've managed to retrieve almost all of the barrels which was down a flooded river. but the worry is that. to be dangerous chemicals into the. office more from russia's far east. chinese authorities do see that they've managed to extract nearly sixty four hundred barrels out of the seven thousand washed into the river four days ago as a result of a flood however the cleanup operation is far from over first of all three thousand barrels of those were washed into the water contain toxic substances including acids which may be harmful to the environment and it's not clear how many barrels out of the

from an entirely new song here i'll see tonight business before that last night with kareena. hello and welcome to our business program on creating a kind of thanks for joining me while growing stocks are likely to be kept up through u.s. supplies after the drop that's expected due to the russian drought export ban the use the partment of agriculture says an increase in deliveries from china and the european union and australia are likely the agency estimates that grain exports from russia this year will amount to three million tons in line with the russian agricultural ministry s'pore gas the decision to haul shipments abroad was made after a drought hit the agricultural sector this season grain production is predicted to decline by fifteen million tonnes globally half of which results from russia's will be docs from the harvest of the harvest in ukraine covets down are expected to decline wish me to have happened three million tons in the european union the drop could be peaceful million tons. the prices in russia may grow by up to fifteen percent this year the price hike is

date for the moment i'll be back with a look of stories in about eight minutes from now next it's kareena with the business news. hello and welcome to our business program good to have you with us russia losses due to the force and pit fire still raging across the country could reach fifteen billion dollars according to early estimates that record temperatures this summer may cost at least one percent of g.d.p. growth most of the money will be spent on restoring houses and compensation the first official figures are expected next week as part of the federal statistics services report on july's industrial production the long term effect is unlikely to be known until the end of the here but some experts are already claiming the impact will not be significant. because of all of the direct costs like the expensive extinguish the fires because the emergency ministry has insurance costs i think this figure will be no more than tens of billions of rubles but if you keep in mind that real budget is trillions of these experiences are just a drop in the oceans. and it's not just devastating the cou

let's go up in ten minutes time first though before that let's get we can business with kareena money can. hello and welcome to business grain prices have more than doubled since the start of the drought in russia the hikes have been further supported by docs and the global harvest forecast but despite a temporary ban on grain export local producers are seeking to retain their presence in the international market anybody reports. the record drought has seen the russian government reduced estimates of the two thousand and ten greenhouse wished to sixty sixty five million tonnes it announced a temporary ban on green experts from august fifteenth to december first to shoot domestic consumers from price hikes but then cost global grain prices just search to more than eight dollars per bushel despite analysts saying there is no grain to go around the danger is that given we have been through two thousand and seventy thousand and eight and we saw we prices per se it rises in other prices of commodities the danger is that financial markets start to anticipate price price than other commoditi

from art than ten minutes here a lot but first it's the weekend edition of the business news with kareena in a few minutes stay with us. for the full story we've gone to. the biggest issues get a human voice face to face with the news makers. every month we give you the future we help you understand how we'll get there and what tomorrow brings the best in science and technology from across russia and around the world. join our technology update on our g. hello and welcome to business grain prices of more than doubled since the start of the drought and the hikes have been further supported by ducks in the global harvest forecast but despite a temporary ban on grain export local producers are seeking to retain their presence in the international market that it reports. the record drought has seen the russian government reduced estimates of the two thousand and ten greenhouse wished to sixty sixty five million tonnes he denounced the temporary ban and green experts from august fifteenth to december first to shoot domestic consumers from price hikes then cost the global grain prices just sear

well so many have lost their houses to the fire kareena and alexandra remain great name that like so they could have lost a lot more so if. for a knish well he is set to stay with the record breaking temperatures likely to keep russia roasting until mid august blankets of smog are still choking many cities including moscow argues maria phenomena is in the center of the capital. as a record breaking heat wave continues to literally torture russia and temperatures across the city go in our mosco the capital moscow is quite literally smoking paula for more than a week old readies the smoke from massive forests and people fires in the central russia has been blanketing the capital and the central russian c. trees and now the old law is on day a very safe veil of spite of his you can see behind me visibilities wide law and thus far is russian ministry were majesties is now reporting at least very moment dozens of blasi zala continue to outrage in the areas surrounding most and daily about two hundred have tears at burnie bedside poll say they smoke has badly polluted the air and specially

ok well kareena is now here with the latest business updates so we hear the russian by continuing to cut deposit rates for individuals well yes according to the central bank the max mentions straight for deposits in roubles this month always less than nine percent which is good news for that he details in a moment but first russia's losses due to the forest fires still raging across the country could reach fifteen billion dollars earlier my colleague stephanie monday spoke to natalee at a lot of alpha bank who gave us more on the impact of the clock of the ecological conditions on the economy furthermore she pointed out that the russian government is also losing opportunities in controlling prices using its great reserves. well this was initial seen as a very powerful instrument which russian government might use how as a recent liberal see a very different figures in terms of size of these reserves because in drug law and number of official excerpts were talking about twenty or twenty bloss million points and reserves the most recent an independent as soon as give us just mind milli

whilst many have lost their houses to the fire kareena and alexandra remain great knowing that like they could have lost a lot more. now the country's leaders have also promised to provide assistance to these people we've heard prime minister peyton say that the families that have lost homes will be receiving up to one hundred thousand dollars and hopefully the homes will be used to rebuild their homes. now but obviously the people having to deal with the situation that they've been left in now the census in the fifty head and we've seen a huge amount of volunteers coming forward and bringing clothes and food and just offering general assistance to these people that have been left in this situation and i've also heard from the russian paycheck who will has expressed his condolences to some of these people. everyone. we can control who we can control. now the timing of those condolence is very appropriate because in the russian orthodox church calendar tomorrow which is the second of august is the day of the of the light which is the controls the rain and thunderstorms and certainly they'

by falling wires to the electric shock of killed him also many have lost their houses to the fire kareena and alexander remain great name that like they could have lost a lot more so if. for a. on the he is set to stay with the wreck who breaking temperatures like russia roasting until the middle of august and blankets the small still taking many cities including moscow always easier if it all stays in the center of the capital for us this seemed to be some restaurant from the worst of the smoke out the weekend but it's coming back because this award sidelined in moscow right now in terms of air pollution. while alice indeed as a record breaking heat wave continues to spread across russia the situation here in the capital most is getting worse and worse every day for more than a week already smoke from massive forest and people fires in the central russia has been covering this t.-t. mosco and other russian cities and now they law a very thick blanket of smoke visibility is extremely low in a normal day when the skies are clear maybe my cameraman will i show you behind me would be able to

highlights of an ancient city part of russia's golden ring that's to come after tonight's business with kareena in just a bit. hungry for the food we've got. the biggest issues get a voice ceased to face with the news maker. hello and welcome to our business program good to have you with me while grain stocks are likely to be kept up through u.s. supplies after a drop expected due to russia's export ban the u.s. department of agriculture says an increase in deliveries from china the european union and australia are also likely the agency estimates that grain export from russia this year will amount to three million tons in line with the forecast from russia's ministry of agriculture that its asian to halt shipments abroad was made after a drought hit the agricultural sector this season grain production is to decline by fifteen million tonnes globally half of which results from russia's reduction harvesting. are expected to fall between two point five and three million tonnes of the european union the drop could be over four million tonnes and a first deputy prime minister viktor zubkov has offi

projects it's the large hadron collider but for that we've got the latest in the world of business with kareena. hello and welcome to our business program because i have you with us russia's agriculture ministry has cut its forecast of grain harvest for this year to sixty sixty five million tons that's around thirty percent lower than in two thousand and nine and as prime minister vladimir putin says the battle for russia's grain exports won't be lifted anytime soon we're told she was a crew even with the harvest apparently we will cover our domestic needs you know this year the question is what the country will have next year still a she said we don't know what the harvest will be and we don't know what we will carry out this year we will review our decision to ban grain imports into the only in line with what the what's the problem is that we are not able to seed winter crops because of the heat lifting the ban and more unhappy. russian markets finished the day in the black with the r.t.s. game point seven percent and i'm isaac's getting slightly over percent hydro gas probably going to be ov

next to the business update with kareena that's after a short break. and great for the full story we've gone to. the biggest issues get a human voice ceased to face with the news maker. hello welcome to our business program because i have you with us russia's agriculture ministry has cut its forecast of grain harvest for this year to sixty sixty five million tons that's all thirty percent lower than a two thousand and nine and as prime minister i've put in says the battle for russia's grain exports won't be lifted any time so. full of shows of even with the harvest apparently we will cover our domestic needs in food this year just about no question is what the country will have next year still a she said we don't know what the harvest will be and we don't know what we will carry out over this year we will review our decision to ban grain imports into the only in line with what hobbs it will be the what's addition the problem is that we are not able to seed winter crops because of the heat so lifting the more unhappy. russian markets finished the day in

voting like a sucky is impossible do stay with us for the first though here's the business update with kareena. my. fellow i welcome to the program good to have you with us at this hour internet advertising in russia has increased thirty three percent of the first half of two thousand and ten year on year that's the forecast growth among all the sectors of the country's advertising industry the market as a whole group ten percent with growth picking up pace in the second quarter experts say if the dynamics keep up annual growth of the russian advertising market could be higher than earlier focused. and microsoft is expanding its supporting program for russian startup companies each company will get several million dollars earlier microsoft announced its plans to invest more than three hundred thirty million dollars in russia over the next three years for the first time the corporation is ready to invest into start up companies directly before it just supplied them with free software. and russia's car giant after vos resume production on monday the company suspended production for a week in aug

to bring us up to take for the moment or not a next stop it's the business update with kareena that will be after a short break stay with us. hungry for the full story we've gone to. the biggest issues get a human voice face to face with the news makers. every month we give you the future we help you understand how we'll get there and what tomorrow brings the best in science and technology from across russia and around the world. join us our technology update on our g. hello welcome to our business program because i have you with us russia's agriculture ministry has cut its forecast of grain harvest for this year to sixty sixty five million tons that's all thirty percent lower than two thousand and nine and as prime minister i've put in says the battle for russia's grain exports won't be lifted anytime soon we're told she was a crew even with the harvest apparently we will cut down domestic needs in fuel this year just about the question is what the country will have next year still a she said we don't know what the harvest will be and we don't know what we will carry out over this year

whilst many have lost their houses to the fire kareena and alexandra remain great knowing that like they could have lost a lot more now the country's leaders also promised to provide assistance to these people we've heard prime minister peter say that the funny sort of lost homes will be receiving up to one hundred thousand dollars and hopefully this will be used to rebuild their homes by october now but obviously the people having to deal with the situation that they've been left in now those two verses. and we've seen a huge amount of volunteers coming forward in bringing clothes. and just offering general assistance to these people that have been left in this situation. i was at work when my son called me and said mom there is a fire close to her house i rushed home but in fifteen minutes he called back and said everything is burned down and there are no firefighters here when they tried to come closer to the homes there was panicking everyone help people from the hospital which was in flames didn't let anyone in but they believed them to let me in seeing my children when a friend wit

let's now get down to business first with kareena who's got details this hour on the latest from that world. it's twenty two past two pm here in moscow welcome to our business program and it's good to have you with us it's the hottest driest summer in record history the wildfires raging across the country of the capital blanketed by thick choking smoke gives the impression of widespread disaster there's been a terrible human cost to be abnormal weather with lives and homes lost it's also created real problems for the nation's farmers with more than twenty percent of the wheat harvest wiped out on thursday prime minister putin imposed a ban on grain exports to ensure there wouldn't be a shortage and that food prices won't start to rise but as our correspondent in a question of i explained the situation is grim the underlying health of the russian economy is not being damaged. moscow is covered with the snow and it really looks like at the end of the world behind my back so we're over there is the white house but it is completely out of sight now but one point is and the smoke has left

next is the latest business news with kareena mallika. it's twenty two past five pm here in moscow hello welcome to our business program with me cleaning out can but have you with us wes's grain harvest is expected to fall thirty percent this year compared to what it was in two thousand and nine meanwhile global markets are still concerned about russia's decision to temporarily banned grain exports and a source close to the matter says the terms of the ban could be revised in october . and for more i'm joined by live to give our russian c.i.s. analyst at i.h.s. global insight thank you for joining the program so what could be the side effects of this ban for russia. well the most important scientific to highlight is to reputation. the ban came off to do reassurance from the russian government that there will be no such embargo and then putin unexpectedly announced the export ban this means that russia that had been working hard for the past ten years to cause a nation of fifteen percent in the world market will suffer a reputation old. an

we're going to go over to the business desk now with kareena stay with us. how a welcome to a business program it's good to have you with us this hour the global cost of wheat has reached the highest price in twenty three months due to the worst drought in russia in nearly forty years if you from the commodities markets is similar to retailers jack boot jun c.e.o. of the index futures group says the large grain reserves in russia and the u.s. will help mitigate the crisis. i think that you know you've got a combination of two economies that are very well versed in making sure that their supplies are intact over the course of say the winter months and they're quite frankly i think good the russian economy was prepared for this that the russian government was prepared for this i know of course here in the u.s. we've been preparing for it but remember grain this specially wheat is much like a weed it doesn't take more than just a few days of rain to get things going again of course this crop is pretty much over and i think that we could write it off but we stil

i will take another look at the headlines in a few moments but first let's turn over to kareena for the business news. and i welcome to our business program has got to have you with us russia's losses due to the forest fires still ranging across the country could reach fifteen billion dollars earlier my colleague stephanie monday spoke to natalie all of us alpha bank who gave us more on the impact of the cloud dishes on the economy furthermore she pointed out that the russian government is also losing opportunities in controlling prices using its growing reserves. well these was initial seen as a very powerful instrument which russian government might use how is a recently released c very different figures in terms of size of the these reserves because in july number fishel experts were talking about twenty twenty last million tons in the reserves at the most recent an independent as soon as give us just mind million tons so i would say the gap is an imaging and also not a garment and then to distribute thought it was part of this fund directly to the old russian regions so this will de

and kareena is here with a business news after a short break hungry for the full story we've gone to. the biggest issues get a human voice face to face with the news makers. every month we give you the future we help you understand how to get there and to bring the best in science and technology from across russia and around the world. join us for technology update on our g. and welcome to our business program russia's losses due to the forest and peat fires still raging across the country could reach fifteen billion dollars and my colleague stephanie monday spoke to the. who gave us more on the impact of the ecological conditions on the economy furthermore she pointed out that the russian government is also losing opportunities in controlling prices using its grain reserves. well these was initial seen as a very powerful instrument which russian government might use how as a recently released see a very different figures symptoms of size of the these reserves because indra why in number of official experts with talking about turn to turn to plosser reserves the most recent an indepen