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China slashed its foreign currency reserves in US dollars to a record low. The percentage has fallen by roughly 10 percent since June 2010 in an attempt at risk management. ­Looks like China, the biggest owner of the US debt, doesn’t want all its eggs in one basket. It may have been happening slowly but [...]

February 27, 2012, 11:10 AM EST By Tommaso Ebhardt and Craig Trudell Feb. 27 (Bloomberg) — Fiat SpA, the Italian carmaker that controls Chrysler Group LLC, is nearing a deal with OAO Sberbank to build Jeep models in Russia, two people familiar with the matter said. The announcement of a preliminary agreement is expected this [...]

An official with Estonia’s security police has been arrested on suspicion of spying for Russia. The security official, Alexei Dressen, was detained at the airport in Tallinn along with his wife, who was boarding a plane bound for Moscow. Dressen’s wife, who was in possession of classified documents, is suspected of acting as a courier [...]

President Saakashvili said on February 17, that “no matter how much Russian money” would be used on attempts to throw Georgia back into the past, people would anyway make choice in favor of “progress” and “future”. Invoking this metaphor of “past” – which Saakashvili refers to his opponents he never directly specifies – versus “future” [...]

Russian liberal radio station, Ekho Moskvy, announced on Tuesday significant reshuffles under which its chief editor Alexei Venediktov and his first deputy, Vladimir Varfolomeev, were removed from the board of directors. Venediktov, one of the founders of the Ekho Moskvy radio station, wrote on Tuesday on his Twitter: “Gazprommedia (which holds 66 percent of Ekho [...]

The coldest snap for decades has killed over 100 in Ukraine. But one kindergarten has found a way for the very young to withstand the biting freeze. ­With temperatures falling as low as -36 Celsius, the happily squealing kids take a dip in the freezing snow. Of course, a hot sauna comes first. And hot [...]

January 29, 2012, 3:23 PM EST By Halia Pavliva Jan. 30 (Bloomberg) — RTS stock futures climbed and OAO Gazprom’s premium over Moscow shares widened the most among Russian companies traded in the U.S. as Europe’s embargo on Iranian oil and refinery outages boosted crude last week. Futures expiring in March on Moscow’s dollar-denominated RTS [...]

Moscow and Tokyo are ready to seek compromise over the conclusion of a bilateral World War II peace treaty, despite the fact that their stances on its possible conditions are different, Russian Foreign Minister Sergei Lavrov said. “Our stances on the peace treaty are yet different, but we have confirmed our readiness to continue efforts [...]

Moscow authorities have denied rumors that the Red October area, which is so popular with the city’s artists and art lovers, is to be turned into an elite residential area. The authorities have said they appreciate the area’s cultural significance as it currently hosts dozens of galleries, TV channels and cultural centers. The only thing [...]

A Chinese New Year celebration in Thailand turned into a tragedy as festive fireworks sparked a blaze. Four people died and almost 90 were injured, while more than 100 homes burnt down. ­Authorities believe that flames from a faulty firework set off a pile of unused rockets at the display in the town of Suphan [...]