and rosneft could include b.p. in the arctic project deal signed last month the british company's executive director robert dudley said on tuesday the company doesn't mind cooperating with john kerry b.p. enjoyed projects with. the london high court is set to decide whether or not to block b.p.'s swap with russian or giant ross now this comes after the russian owners. complained seeking to stop the deal on the grounds that it violated the b.p. shareholder agreement however dudley said the standoff may be resolved in the nearest future analysts also say that the disputed deal is unlikely to be blocked. the mean . of. russian circled is often good because not to store business because this is the extremely important for russia and i'm sure that such people as mr friedman will miss the big city being a don't want route to stop them do you feel that is why in this case. the russians all this of doing good to be the most have some small benefits in other conditions it can be the problem or for example can be the problem

and rosneft could include b.p. in their arctic project deal signed last month robert dudley also said he is confident the standoff over the share swap will be resolved. and in other news the my sex stock exchange has agreed that it will buy out a controlling stake in the r.t.s. boards for roughly one point two billion dollars first deputy chairman of russia's central bank and majority shareholder of my sex says the price estimation includes a thirty seven percent premium argy correspondent sara firth reports. brushes two leading stock exchanges my six in r.t.f. has succeeded now in reaching a preliminary agreement for my sex to buy a controlling stake in our ts now we know that this is just a verbal agreement the documents have been signed and sources say the stakes to be based on r.t.s. is appraisal between one point one five billion and one point three zero eight billion dollars now we know in a very two thousand and ten that my take made a friendly take a bit. shareholders that we had at the end of two thousand

just to look barnaby peace deal with rosneft we need to be big agreed on the fourteenth of january to see what is seven point eight billion dollar stake in the company for nine point five percent of russian oil producer rosneft and that the two companies would also agree to joint venture to explore areas of the arctic water is not only the cooling to the russian shareholders it take a b.b. to reach the terms of their contracts under which they should have been also in michigan and given the first refusal on any major any ventures undertaken by b.p. in russia and this didn't happen so it went to justice microburst to say the both parties have been able to leave it entirely in accordance with common sense and that now that the b.p. shares to what has been phrase in the any discussions about the arctic exploration have been fit and till the completion of attrition which is sure to february twenty fifth now we've had comments from the vice president over us never he said the process of putting it in k. to gauge to be a potential partner in this deal with it and now suppose that could stil

rosneft is among the latter examples we happy to look at the agreement on establishing a direct line between the british prime minister and the kremlin it's an important new elements of our communications that's meant to take it to a more high to levels and taking that relationship to a more high tech level is really symptomatic of how important russia and the u.k. are as partners together talked about how important u.k. was as its partner in it starlost with and with the e.u. and also the partnership that it has in dialogue with nato and on improving european security and william hague the british foreign secretary also underlined the importance of that relationship let's hear him. countries continue to see patient steady improvement in relations. giant leaps it is a very measured steps this welcome visit is an important part of the steady improvement in relations which we initiated on our side when the coalition government came into office. working relationship bilateral issues and global issues it is undoubtedly on improving trend but it does seem that in the past every attempt ha

is due to jointly develop reach arctic oil fields with rosneft they finally get the green light on friday the british girl major is greeting with us russian partners of the joint venture team p b b to try to persuade them that the deal doesn't violate their rights and rosneft concluded the due in january were forced to freeze it after we drew opposition from alpha axis renova consortium to russian shareholder consortium claims the deal violates its exclusive agreement with the british well company. ok let's take a look at how the markets are forming so far european stocks have caught it before us off the last two sessions the moves believe the oil prices have moderated trading in london is just getting underway again after a technical glitch stop transactions for a couple of hours and one of the worst performers on that market as lloyds banking group down five percent oxford word business will be tough this year as the u.k. economy slows also aerospace and defense firm e.d.s. is down almost three percent after losing a key u.s. tank of contract to rival boeing. and here in russia the r.t.

and rosneft concluded a deal in january to swap shares and jointly explore for oil in russia's arctic shelf they are has strongly objected to the plan saying it while it's executive exclusive agreement. now let's have a look at the markets wall street rebound on friday after a week long sell off as well prices stabilize from recent highs the dow jones is going more than a half a percent and the nasdaq is up almost one and a half percent but actual stocks are gaining bank of america is up two point two percent and was fargo rose nearly four percent in company news following rose three percent after its launch a thirty billion dollars contract to build one hundred seventy nine u.s. air force through fueling planes. and european stocks gained on friday amid relief that prices have retreated one of the worst performers in london was lords of banking group down four and a half percent approve more in business would be tough this year as the u.k. economy slowed also airspace and defense for an eads was down almost three percent after losing a key u.s. tanker contract to rival building. here

rosneft lost three quarters of a percent and russia's second biggest bank to be t.v. was up almost four percent helped by use it has acquired a blocking stake in bangkok. broad national data capital sums up the week writes. i think we've seen tremendous volatility in the markets over the over the last week there is no just russia it's everywhere globally people are trying to come to terms with what's happening in the gulf and it's tricky so when you have a sudden shift like we've seen over the last few weeks of the oil price then the obvious trade to make is to sell down the banks and buy into the interview oil sector and that's what we're seeing that's been the under-performance of banks in the last week or so global markets but you can go to emerging markets have been suffering since the beginning of the year russia has been really the out performer in that process and the fear in the market right now is you know when will russia start acting like all the other emerging markets and start selling off is being held up by the oil price quite frankly if the oil prices t

rosneft deal to the twenty fifth of february this is the date which the court has set for b.p. to go into arbitration proceedings regarding its assets where the russian oil giant this comes after the russian owners of the joint venture to be filed a complaint seeking to stop the deal on the grounds that it violates the tame p.p.p. shareholder agreement earlier the c.e.o. of the british company said ross may have to could include b.p. in their arctic project deal signed last month to trick sandra from you know of a capital says there are two possible outcomes in the conflict. there will be any major changes in the deal between b.p. and rosneft as everything will sit on a highly governmental level i think too and comes a possible either team k. get some compensation this may be more freedom of action in terms of decision making or as a second option an invitation to join mutual projects between b.p. and rules news. and brand current prices have hit the one hundred dollar mark in recent days fueled by growing instability in egypt it's the first time since two thousand and eight th

and rosneft could include. their arctic project deal signed last month ritual xander of from universe capitals there are two possible outcomes in the conflict. there will be any major changes in the deal between b.p. and rosneft as everything was set on a highly governmental level i think comes a possible on the team kay get some compensation there's minimal freedom of action in terms of decision making or is a second option an invitation to join you two projects between b.p. and rules needs. to be focused on. ok on the end of old russia forum race underway in moscow it's the fourth such event bringing together business leaders investors and officials from all the world to discuss investment opportunities and russia and the c.i.s. this year the forum will focus on the global financial challenges and russia's changing economic situation or to a correspondent which mr dacre joins us now from the event so hello to you dmitri the delegates sign having a ten minutes break right now the session will continue shortly

and let's have a look at some individual share moves among the leaders up more than five percent rosneft and three and a half percent higher so did lukoil help by news it signed a deal with american bank going to to develop two offshore oil fields in romania and gold producers gained as prices for the precious metals surge higher orders gold is up two point four percent. now europe ended makes on tuesday the footsie ended in the red down for a third day its longest losing streak since july the dax has finished under a percent lower and this is were heavily weighted by banks and industrials two sectors that are struggling most with uncertainty created in the middle east shares of islam ten percent and frankfurt on concerns its merger with volkswagen may fail . and stocks in the u.s. are mixed on thursday afternoon better than expected unemployment figures and some fairly robust corporate results are not providing enough to stop investors looking for a safe haven here's a few at packard a down and general motors is also losing slightly short with fourth quarter figures . so for now join me

bank both close trading down on the day rosneft however added close to two percent on both forces after the oil giant stated that its fourth quarter net income saw a nineteen percent jump over the previous three months. and with this week's trading mostly affected by tensions in the middle east and mounting oil prices. bank explains why gas paul was among the top gainers there were some people still with the soulful quite good performance and but people are desperate and. will. cry out every year for just because gas prices oil prices. but the taxation for gas from the middle to the old companies that's promiscuous have been the future of credit would priced under the negative for employer we saw in that with the best service growth from the minister of finance excluded from the sale of event the stake in that the web by the street this year and this creates the potential market will have filled with the best. and that's all the business news for now but you can always find more stories on our website that's artsy dot com slash business thanks for watching. right where you are with our

and the exploration deal signed between rosneft and b.p. has raised the possibility of tapping into russia's arctic energy resources but even if the difficulties surrounding that deal can be overcome still remains the challenge of extracting oil and gas from the frozen region the president of the russian union of oil and gas groups believes drilling will only become economically viable when the oil price hits one hundred fifty dollars per barrel. yeah. it's very expensive to develop the arctic show i'm not saying we shouldn't develop this area but we still don't have enough experience to deal with it i believe we should have the development when the pros who reaches one hundred fifty dollars per barrel and beyond for example to drill one metre of the arctic show could cost up to one million rubles so we should calculate accordingly. the markets here in russia markets are closed for a national holiday u.s. stocks ended in the red on wednesday on concerns about the unrest in the middle east. for gas to wait on the sea losing over five percent

competitiveness and goes against that of their own markets there's been speculation rosneft could buy out the partners to clear the way for you with b.p. . speaking of oil it's a balancing off an eight day low in after an expectation. another expected drop in u.s. inventory is rather brant crude for the livery in march is now trading above one hundred dollars a barrel. here in russia prime minister putin is called on the government to speed up work on tax breaks would you feel the prime minister is also the oil majors to maintain annual output at the post servia record level of roughly five hundred five million metric tons in the coming years. but other stock exchanges catheters group which owns the toronto stock exchange are to merge in an all share deal near exchanges set to become the largest form for trading mining companies at a time of surging commodity prices and with a combined six thousand seven hundred listings there will also be the world's largest exchange by a number of companies just the latest in a wave of consolidation sweeping the globe's exchanges here in russia for

compromise is to competitiveness and goes against the terms of the law so there had been speculation rosneft could buy out the partners to clear the way for that to you with b.p. . speaking of oil prices losing four west texas crude is down point three percent bad bots brant crude is up one point three percent more than one hundred one dollars per barrel. in russia prime minister putin has called on the government to speed up work on tax breaks for new fields regions also oil majors to maintain output at the post soviet record of roughly five hundred five million metric tons coming. not just not because asians rose by a third in russia last year although activity still hasn't returned to pre-crisis levels david cranfield a partner at corporate law firm c.m.s. russia says he expects the strong growth to continue in twenty. we're expecting there to be more energy in the market than there has been it's certainly been running at about half capacity since the crash but. no huge increase energy natural resources always are always do come across in the surveys the most active sectors know it's no d

compromises to peace competitiveness and goes against the terms of their lights there's been speculation rosneft could buy out the partners to clear the way for the deal with b.p. . speaking about oil prices losing four west texas crude they're losing the early against the w.t. eyes down point three percent how brant is up one point three percent and it's over the one hundred and one dollar per barrel mark already. in russia prime minister putin has called on the government to speed up work and tax breaks for new fields when a person is also the oil majors to maintain annual output at the post soviet record level of roughly five hundred five million metric tons in the coming years. china's vast market of rapidly expanding economy has made it an essential destination for global business however john hammond senior partner its corporate law firm c.m.s. russia believes china is overrated compared to some other emerging markets such as russia. we've heard from many of our clients they feel they just have to be there it's such a big market potentially they cannot afford to miss out and so they invest

s recent asset swap and exploration deal with rosneft that no longer seems possible our course one of the taxonomic of our joins me now with details hello tonight are so. why is it looking more likely that the dividend will be paid. well under the shareholder agreement t n k b b is obliged to pay at least forty percent of its net income in the fourth quarter to b.p. now that would be about one third of all b.p.'s income in the fourth quarter of course a lot of money for the company that has lost a lot of money last year due to the oil spill not only here t.n.t. b.p. has said it's not going to pay the dividends now t.n.t. b.p. is own fifty percent by b.p. and fifty percent by russian company are are now the reason why they said they wouldn't pay the defendants was because b.p. announced the deal with the russian oil giant last nafta on an acid swap and an arctic exploration deal that would be bypassing t.n. k b b of course the this is the reason why t m k b p blocked this deal said it's not going to pay dividends now the hearing the court hearing on the deal between most nafta and. t.n

rosneft may seek compensation from b.p. if the deal to jointly develop breach arctic fails fails that's according to the wall street journal citing energy minister it could say force net and b b concluded the deal in january but were forced to put it on hold all to true from a our russian partners in the joint venture teens pete they are claims the deal violates its clues of the groom and with the british with meter. not time to have a quick look at the markets it's a sea of red into europe european indices extending the previous sessions shot losses as the violence and leave it worsens and off to headed for asian markets a foot say is below six thousand points airline stocks among the worst hit amid worries over oil supplies. and in russia the indices that tracking those losses in europe and asia the r.t.s. in the my six are significantly lower on the tuesday after posting their highest climb in more than a week on monday let's have a look at some of the individual share moves now energy may just continue to do well on the

and rosneft could include b.p. in their arctic project deal signed last month the c.e.o. of the british company robert dudley says it wouldn't mind cooperating with b.p. in joint projects with a russian oil giant meanwhile the london high court is set to decide whether or not to block b.p.'s asset swap with. this comes after the russian owners of the father complained seeking to stop the deal on the grounds that it violates their. shareholder agreement over dudley says the standoff should be resolved soon alice also say that the disputed deal is unlikely to be blocked. the main. russian. still business because these do is extremely important for russia and i'm sure such people was. nice to be out of the old woman route. well that is why in this case. the russian shareholders. have some small benefits and other questions that go into the problem or for example. and stay with b.p. the british company has announced it will pay dividends for the first time since the gulf oil spill after posting a profit in the fourth quarter of two thousand and ten despite an overall loss of

and the russian oil giant rosneft announced an asset swap and tickets peroration deal now they are the russian partners claimed that that deal compromised the competitiveness of p. and ran counter to the terms of the alliance but maxime can call for a law firm called deal he says a has little chance of blocking the dividend if it goes against the shareholder green. i think it would be quite difficult for them because as i've heard shareholders agreement provides for an obligation of b. d. to be at least forty percent of the net income. each quarter and it makes no real difference if such payout is approved to shareholders or not. gazprom expects to supply an extra nine percent of gas to europe this year and predicts prices will be fifteen percent now that would give an average price of three hundred fifty two dollars per thousand giving me just compared to three hundred six last year exports to europe are planned at about one hundred fifty two billion cubic meters of gas this year but are still below the pre-crisis levels of one hundred fifty eight point eight billion in two thousand i

and all cynical and spare banks are both down over one third percent this hour rosneft however has added over two percent on both horses after the oil giant said that its third quarter profits have climbed twenty one percent from the previous three months. and the russian company has also posted a net profit of ten point six five billion dollars in two thousand and ten a sixty four percent increase year on year beating analysts expectations according to the u.s. accounting standards russia's largest oil company has also reported in fourth quarter jump in profit while its overall debt fell twenty six percent the improved results were mainly attributed to increased output tighter cost control and rising oil prices meanwhile brosnan's president eduard no child has denied that his company is negotiating to buy out a our stake in russia british joint venture b.p. . and russia's to begin selling grain from state reserves in a move to curb food prices as support domestic markets the plan is to sell two and a half million tons of grain within five months of the next harvest the state's current s

and rosneft could include b.p. in their arctic project deal signed last month the c.e.o. of the british company robert dudley says it wouldn't mind cooperating with sank a b.p. in joint projects with the russian oil giant. meanwhile the london high court is set to decide whether or not to block b.p.'s asset swap with. this company this comes after the russian owners the father complained seeking to stop the deal on grounds that it violates that yank a b.p. shareholder agreement however deadly said the standoff should be resolved soon analysts also say that the disputed deal is unlikely to be blocked. the. russians didn't get b.'s not to steal business because this is the extremely important for russia and i'm sure that such people as mr friedman will miss the big city be out of the old woman route to stop this very important deal for good is why in this case. the russians. have some small benefits and other creations that go into the problem or for example deal with the gander that probably will go we've been. staying with b.p. the british company has announced it will pa

rosneft tie up violates the shareholder equipment. these russian shareholders also decided not to approve of one point eight billion dollars diffident for the fourth quarter of twenty to ten half of which would have gone to british fund the b.p. last month. have to agree to form with joint venture for arctic oil exploration and take across shareholding and let's say however that they are consortium is not likely to block that is. still the main aim of. russian holders of ten k b b's not to stop this deal because this is the extremely important for russia and i am sure the people as. i don't want to stop this very important deal for that is why in this case. the russian stock holders of think i believe in my billions have some small benefits in other questions that get into the problem or for example deal with the problem of. let's have a look at how the markets are faring that sol in asia both the nikkei and the high saying are trading in the black this solid metals are gaining pushing stocks higher at strong u.s. consumer spending da

of the british company said the pm rosneft could include chanted p. and there are good projects deal signed last month robert dudley also said he is confident the standoff over the share swap will be resolved soon. a look at the markets in russia the r.t.s. in my sex closed on the day and posted strong gains tracking the upbeat investor mood globally the indices gained ground after monday's losses showing that correction on the markets was apparently short term. and rising oil prices are sending energy shares higher gas prom and lukoil are seeing approximately the same gains adding on between three to four percent respectively mining shares are also up on the day as sever stock climbed to one and a half percent. and the my sex stock exchange has agreed that it will buy out a controlling stake in the r.t.s. bourse for roughly one point two billion dollars first deputy chairman of russia's central bank a majority shareholder of my sec says the price estimation includes a thirty seven percent premium archie correspondents are for reports. brushes two lea

and rosneft concluded the deal in january but were forced to freeze it after a trip position from alpha x. the consortium to russian shareholder the consortium claims the deal violates its exclusive agreement with the british well company. and time to act which is now asian stocks are trading in the black as oil prices left a twenty eight month high in turkey exporters are mostly on the rise going up to moshe is up two point three percent on a credit suisse up great to outperform despite another dress report. here in russia both the r.t.s. miser closed in the black on thursday helped primarily by the energy sector defensive gold stocks were also doing well retailers banks industrials and one is all down but some a look at some individual share moves. ok. russia's trade surplus jumped around eighteen percent in general year on year it reached roughly nineteen billion dollars of the country's exports twenty five percent the growth was mostly driven by high energy prices oil and gas made up most of the exports. ok the search for me for knowledge will mean less than one more business. thank

crude oil two years ago the watchdog imposed fines of nearly a million dollars against the likes of rosneft lukewarm t.k. b.p. for fixing prices but it's not since even the general director of the national energy security fund believes mines are not the right way to ensure competition. the problem is that we have no in the plan them to refineries in the us all serious or foreign there is there the part of this we have to integrated companies and in my opinion if we really want to struggle for law with all prices across the wall we must simply not about fines we must think about structural reform of our industry we must have independent before and there is and only i think this is the only one way to struggle with high oil prices if we want to press one point that we must have real complete the mission of our market if we will have no independent why there is there will be no competition. gazprom is post of course and their profit of five point four billion dollars which is nine percent lower than the previous year the figures were in line with the six rotations however russia's biggest comp

rosneft shares have taken a hit after london's high court halted the russian oil giant's deal with b.p. to explore the arctic sell the decision came out the joint russian british venture tank a b.p. follow the complaint last month well sniffed and b.p. agreed and asked swap to form a partnership for oil exploration and russia's arctic russian british joint venture tanky b.p. is up in arms saying the deal violates its right across if you go on any beat you work in russia they are consortium which owns half. took legal action to block the agreement the sides have given until feb twenty fifth to resolve the matter. i'm sure there is an economic reasons behind it as well because be to include b.p. or error and i have some interest on those deposits as well as b.p. and particular the arctic once on a barge into the sea plus it might be at this strategic part of the different strategy which our peers and my health however some experts say that tank e.v.p. could still participate in the admissions project. the t. and k. b.p. shareholders want to participate in the deal particularly want to pa

but the government has recently we know that the government has recently fined lukoil and rosneft. for these price fixing why didn't they learn their lesson why is it as you said we're seeing that here but why why are we seeing the next one question because. we must go into details and see there it is because during the last year the head of our and the monopoly which is looking to me if you listed that there will be as he said russian standard oil deal so he promised to us russian citizens that he will be as cool as. we stand the oil and you know the result of the story there was as i said there was splitting off stand the oil into several pieces but we have no splitting of our oil companies we have no disintegration of these big monsters and lines at the end you can see. the results of they were not so high it's approximately one percent or their incomes so there is a way. to monopoly which took the end of this year was not so tough was our oil companies and that is why i cannot say that they really paid this huge. amount of money and that is why i can say that as you said the se

fields fails that's according to the wall street journal citing deputy prime minister igor sachin rosneft and b.p. concluded the deal in january but were forced to put it on hold after drew opposition from a that's b.p.'s russian partners in the joint venture tain k b p a r claims the deal violates its exclusive agreement with the british will nature. now let's look at the markets now u.s. stocks are thrown hard by unrest in the media financials are hit with bag of america and morgan chase shedding over three percent but high oil prices are lifting energy stocks chevron is gaining nearly two percent exxon mobil as well but airlines plunge on the high of jet fuel prices delta airlines and u.s. airways grew by five percent european stock markets dropped sharply as well on tuesday extending the previous sessions heavy losses the footsie last point three percent germany's dax fell nearly three and a half points airlines ranked among the hardest hit stocks shares of air france killem dropped three point two percent and easyjet eight percent. and here in russia markets closed in the red trackin

oil pipeline project that bypasses turkey's bosphorus straits according to russian media transnet rosneft and gazprom the after about to officially end their financing of the project this with effectively kill off the whole idea russia bulgaria and greece agreed to three years ago and that is to build almost three hundred kilometers of an oil pipeline to export crude to european clients however transplant does deny this information saying russia does not intend to redirect oil in the various other pipelines but some analysts doubt the economic value of the whole project. together with the completed one pipeline and together with the plan to be completed next year to pipeline i think currently . russia has enough expert capacity is probably the distribution i mean geographical distribution overall is not so diversified as russia. may want or potentially many i don't think that. construction of some. extra pipelines world is justified economically. because of the markets in the u.s. they are being as the fed is pretty optimistic about the economy new home construction the u.s. came in bette

point eight billion dollar stake in the company for nine point five percent of russian oil producer rosneft and that the two companies are also agreed a joint venture to explore areas of the arctic water is now we know that according to the russian shareholders of think a.b.b. that that has reached the terms of their contract under which they should have been also emission and given first refusal on any major need ventures undertaken by b.p. in russia and this didn't happen so it went to the polls we've heard just this microburst say the face parties have been able to reach an agreement entirely in accordance with common sense and that now that the b.p. . shares to what has been phrase in the any discussions about the arctic exploration have been filled in until the completion evolve attrition which is sure to the february twenty fifth now we've had comment from the vice president over us live and he said the process are looking for ten k. to kate to be of attention partner in this deal with it and now suppose that could still be most of. us took a look at the markets u.s. markets open lowe

rosneft deal to the twenty fifth of february this is the date which the court has set for b.p. to go into arbitration proceedings regarding its assets swap with was snuffed this comes after the russian owners of a joint venture b.p. father complained seeking to stop the deal on grounds that it violates the k.b.p.s. shareholder agreement earlier the c.e.o. of the british company said b.p. and ross that could include. in the arctic project deal signed last month robert dudley also said he is confident the standoff over the share swap will be resolved soon. and a brief look at the markets in russia the r.t.s. in the my sex closed on the day and posted strong gains tracking the upbeat investor mood globally the indices gained ground after monday's losses showing that correction on the market was apparently short term. and rising oil prices are sending energy shares higher gas palm and lukoil are seeing approximately the same gains adding on between three to four percent respectively mining shares are also up on the day as severstal to one and a half percent. now the my sex stock ex

cool don't choose to look barnaby peace deal with rosneft no we need the big agreed on the fourteenth of january to see what is seven point eight billion dollar stake in the company for nine point five percent of russian oil producer ross yes and that the two companies would also agree to joint venture to explore areas of the arctic water is not only that according to the russian shareholders it take a b.p. did not breach the terms of their own shots under which they should have been also emission and given first refusal on any major need ventures undertaken by b.p. in russia and this didn't happen so it went to cool to be justice microburst you say the both parties have been able to prevent entirely in accordance with common stand on this but now that the b.p. . shares top has been frozen the any discussions about the arctic exploration have been to fit in until the completion evolve a trade which is sure jude the february twenty fifth now we've had comment from the vice president of the us that he said it was a hard looking to take a big case to be at the touch of partner in this de

and rosneft as it was in a highly governmental level i think two incomes of possible either to get some compensation on the freedom of action in terms of decision making or as a second option an invitation to join mutual projects between b.p. and rose in the. spring in the world. the annual russia for me is underway in moscow it's the fourth such event bringing together business leaders investors and officials from all over the world to discuss investment opportunities in russia and the c.i.s. and this year the forum will focus on the global financial challenges as well as russia's changing economic situation arches which would include joins us live from the event and russia looked relatively undervalued in terms of investments compared to other bric countries and twenty ten so what are the forecasts for this here and what's been said at the forum. or you're absolutely right your it seems that when you look at the price to earnings ratio for most russian companies a stance of around seventy eight for most of them if you look at the brazil china is something around eleven. in developed c

dispute meanwhile the week crude prices as you can see the adding their toll and taking it all in rosneft it's down two point two percent and b.c.b. is down heavily more than four percent this is as investors are dropping the stock due to uncertainty over the upcoming s.p.o. price john however from citi bank says there's a number of issues giving the market pause for the full. first of all we had crude continue to slide from ninety dollars last week it touched ninety dollars plus per barrel brant was even higher above one hundred dollars second we had chinese raising interest rates today which is not taken by the market and third we have a number of stock place was crowded russia right now. it's difficult to say how the how they're going well no more time left i'm afraid i'll be back in when i was time with more i'll see that headlines are next don't go away. this is nature and discover it's. a communicate with the why don't. test yourself and become free. to. see what nature can give you. is easy. to. see. at six thirty am time to sneeze are the headlines on our team most wanted man a ch

and also nickel and spear banks both closed trading down on the day rosneft however added close to two percent on both horses after the oil giant stated that its fourth quarter net income saw a nineteen percent jump over the previous three months. the russian company has also posted a net profit of ten point six five billion dollars in two thousand and ten a sixty four percent increase year on year beating analysts expectations according to u.s. accounting standards russia's largest oil company has also reported a fourth quarter jump in profit while its overall debt fell twenty six percent the improved results were mainly attributed to increased output tighter cost control and rising oil prices meanwhile rosner's president has denied that his company's negotiating to buy out half of russian british joint venture t.i.n.k. b.p. . and that's all business news for now but you can always find more stories on our web site that's r t dot com slash business thanks for watching. wealthy british style it's not on the front. of the. market why not. find out what's really happening to the global e

fields fails that's according to the wall street journal citing deputy prime minister igor session rosneft and b.p. concluded the deal in january but was forced to put it on hold afterward drew opposition from a b.p.'s russian partners in the joint venture taking b.p. . claims the deal violates its close of agreement with the british while nature. looking at the markets now violence in libya is affecting markets worldwide u.s. stocks extend losses and the price of oil surged to a two year highs as wall street signaled distress will violent unrest in which stocks are shedding the most on the prospects of fuel costs delta airlines american airlines parent amy are corp united continental holdings and u.s. airways group all dropped by five percent. and european stock markets dropped sharply as well extending the previous sessions heavy losses with the last point three percent germany's dax three point six points airlines also ranked among the hardest hit shares of air france dropped three point two percent and easyjet in the south. and in russia markets close in the red tracking those losses i

retreating from their thursday's gains look was down less than a quarter of a percent at the moment rosneft is losing more than one percent more than one quarter percent actually but banking stocks are on the rise we should be more than two percent are told by news it has acquired a walking stake in the bank of moscow. now profits at russian internet for mail dot ru rose sixty three percent last year to one hundred twenty four million dollars the company says the result was due to past spread of the internet in russia and growth in advertising. and in economic news the russian central bank is raising the key interest rate for the first time in two years to step up the fight against inflation refinancing rate will increase twenty five basis points to eight percent consumer prices are up three percent so far in two thousand and eleven fuelling concerns annual inflation will be higher in official forecast but eight percent. and russia straighter plus jumped around eighteen percent in january and year on year in. reacted roughly nineteen reached roughly nineteen billion dollars with the country

rosneft has suggested an out of court settlement lie be possible however some experts say that taint t.v. people still could participate in the ambitious project. if the t.i.n.k. b.p. shareholders want to participate in the deal particularly want to participate in some major capital investments to explore for oil and gas in the arctic shelf they'll be happy to tell me that their capital requirements are so here's there's plenty for everyone to invest so i can't imagine that would be a problem for all the markets. let's have a look at the markets asian shares a mixed on thursday after a sluggish leaves from wall street and we knew violence in egypt stymied demand for goods and bads one percent of rio tinto rose one point two percent after goldman sachs of its commodity price forecast japan's nikkei stock market was off point three percent markets and china hong kong are closed for the new year's holiday. and we'll look at the russian market's performance in a couple of hours from now but the r.t.s. in my eyes it's both closed higher on wednesday energy shares were gaining with oil abo

rosneft shares have taken a hit after london's high court halted the russian oil giant's deal with b.p. to explore the arctic shelf the decision came after joint russian venture b.p. filed a complaint claiming the agreement violates its right of first refusal on any b.p. work in russia are to correspondent sara for it has the details. when the russian shareholders all take a v.p. have won a u.k. course it just has to look barnaby peace deals with grossness know we need the b.p. agreed on the fourteenth of january to see what is seven point eight billion dollar stake in the company for nine point five percent of russian oil producer ross yes and that the two companies would also agree to a joint venture to explore areas of the arctic waters now we know that according to the russian shareholders will take a deep breathe to reach the terms of their contract under which they should have been also the mission and given first refusal on any major need ventures undertaken by b.p. in russia and this didn't happen so it went to the polls and we've heard just this microburst say the both parties

majors are mostly retreating from their thursday's gains lukewarm is around half a percent lower rosneft is losing almost want to have percent but banking stocks are on the rise b.c.b.s. around two percent held by news it is a part of blocking stake in bank of moscow. that's all for now i'll be back with more in about fifteen minutes from now johnny. news today violence is once again flip.