What is Russia Up To… (01/19/2011)

Russia and China were the major sellers of US Treasuries in November as bond yields surged sharply higher that month, according to the latest government data. China’s portfolio shrank by $11.2bn to $895.6bn in November, while Russia reduced its holdings from $131.6bn to $122.5bn, its lowest since last April…

Some More tidbits of news…

  • China and Russia sought greater international clout at a summit Tuesday, with China promising a $10 billion loan to Central Asian countries, while Russia challenged the dominance of the U.S. dollar as a global reserve currency….

  • A French amphibious assault ship like the one Russia hopes to buy arrived Monday in St. Petersburg, fueling concern in Georgia and other ex-Soviet nations that Russia is upgrading its navy to intimidate its neighbors….

  • The World Bank on Wednesday said Russia’s economy would see a “robust” recovery in 2010, hiking its growth forecast to up to 5.5 percent but warned the rebound would be tainted by high unemployment.”Russia is likely to witness a robust but jobless recovery,” the Bank said in its latest Russia report.It predicted Russia’s gross domestic product (GDP) would grow between 5.0 and 5.5 percent this year, gaining traction in a global turnaround driven by developing powerhouses China, India and Brazil.

  • Tens of thousands in northwest Russia were left without electricity when a storm ripped through the region after weeks of drought, with the bad weather set to hit Moscow.The emergencies ministry in the Leningrad region around Russia’s second city of Saint Petersburg said almost 100,000 people in 1,500 towns and villages in northwest Russia were without power.The storm, which was also felt in Saint Petersburg, saw high winds and driving rain and felled several trees. Train traffic was also affected.

Windows to Russia!

Tags: amphibious assault ship, gaining traction, government data, leningrad region, powerhouses, robust recovery, st petersburg russia

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