Russia Suspends Opposition Leader’s Sentence. Will It Quiet Criticism Of Kremlin? (+video)
We have of course, together with the Swedish Financial Supervisory Authority and the Riksbank, worked through what counter measures are required if such an incident occurs, Borg said. The stalemate in the U.S. is significant and very serious but exactly how it will affect us is very hard to tell, he said. Dollar Funding Sweden s central bank said in December it was adding 100 billion kronor ($15.4 billion) to its foreign reserves to build a buffer against risks stemming from bank industry reliance on dollar funding. The nations four biggest lenders have assets that are more than four times its gross domestic product, prompting Sweden to impose more rigorous regulatory standards to protect taxpayers from bank industry losses. In neighboring Denmark , the central bank said today it is ready to add dollar liquidity to the nations banks should the need arise. In the event that the U.S. debt ceiling, contrary to expectations, isnt raised, the broader consequences are difficult to predict, central bank spokesman Karsten Biltoft said in an e-mailed reply to questions. Both for the financial markets and the global economy. He said Denmark can draw on its considerable currency reserves to protect its financial system from shocks. U.S. Treasury SecretaryJacob J. Lew told Congress last week that the extraordinary measures being used to avoid breaching the debt ceiling will be exhausted no later than Oct. 17 and the department will have about $30 billion to pay obligations if Congress fails to reach an agreement to lift the cap.
The Russian wireless market is dominated by billionaire Vladimir Evtushenkovs OAO Mobile TeleSystems (MBT) , billionaire Alisher Usmanov s OAO MegaFon (MFON) and billionaire Mikhail Fridmans VimpelCom Ltd. (VIP) The next step may be combining Tele2 Russia with the wireless business of state-controlled phone company OAO Rostelecom. The two mobile operators may be merged, VTB Chairman Andrey Kostin said this month. In such a combination, which would form the countrys fourth nationwide mobile operator, Tele2 Russia owners would probably have majority control, he said. Combined, Tele2 Russia and Rostelecoms mobile unit would have about 37 million customers, trailing the 57 million to 72 million users at the larger rivals, according to AC&M Consulting. Kovalchuks Partners The Tele2 Russia purchase marks an expansion into a new area for Kovalchuk, who owns CTC Media (CTCM) in Russia with Tele2 AB founder Cristina Stenbeck and her family. He is the main shareholder of St. Petersburg-based Bank Rossiya, which owns stakes in National Media Group and insurance company Sogaz and has an indirect interest in Gazprombank Kovalchuk, 62, had a fortune valued at $1.1 billion by Forbes Russia magazine this year. He has known Putin since the early 1990s, and both are from St. Petersburg . Mordashov, a billionaire owner of Russian steelmaker OAO Severstal, is Kovalchuks partner in the bank and in National Media Group. Rostelecom Chief Executive Officer Sergey Kalugin, appointed in March, had previously worked for Kovalchuks companies.
Putin’s Billionaire Ally Buys 50% of Tele2 Russia Mobile Carrier
A Russian appeals court today suspended the five-year prison sentence handed down over the summer to opposition leader and anticorruption blogger Alexei Navalny. The ruling, some observers say, highlights the administration’s attempts to keep opposition demonstrations under control and international criticism of Russia to a minimum, particularly in the lead-up to the 2014 Olympic Winter Games in Sochi. The political motivation in this case is obvious, Mr. Navalny told the judge in todays hearing, noting that the prosecutions case was based on false testimony and that he was refused any opportunity to bring witnesses of his own. RECOMMENDED: Do you know anything about Russia? A quiz. Everything that happened last summer and everything that happens today depends on Putin, Navalny said. All the prosecutors, all the lawyers, all the judges are just extras here. In July, a lower court handed down an embezzlement conviction to the outspoken lawyer who rose to prominence during large-scale street protests against President Vladimir Putin in 2011 and 2012. He was released the next day pending the outcome of his appeal. Some political observers felt jailing Navalny could empower the opposition and make him into a martyr, reports Russias official RIA Novosti news agency. In the interim, Navalny ran in the high profile Moscow mayoral race where he won a solid and some say legitimizing 27 percent of the vote against a Putin-allied incumbent. His campaign touched on widespread corruption under President Putin and anti-migrant sentiments , reports Agence France-Presse. Since the court today did not overturn Mr.
Brazil to ask Russia for permission to question Edward Snowden
(AP Photo)The Associated Press In this image made from video released by WikiLeaks on Friday, Oct. 11, 2013, former National Security Agency systems analyst Edward Snowden speaks during a presentation ceremony for the Sam Adams Award in Moscow, Russia. Snowden was awarded the Sam Adams Award, according to videos released by the organization WikiLeaks. The award ceremony was attended by three previous recipients. (AP Photo)The Associated Press In this image made from video released by WikiLeaks on Friday, Oct. 11, 2013, former National Security Agency systems analyst Edward Snowden smiles during a presentation ceremony for the Sam Adams Award in Moscow, Russia. Snowden was awarded the Sam Adams Award, according to videos released by the organization WikiLeaks. The award ceremony was attended by three previous recipients. Snowden, who is charged by a U.S. court with violating the Espionage Act for disclosing the classified NSA programs, has been granted asylum in Russia. (AP Photo)The Associated Press Next Slide Previous Slide BRASILIA, Brazil Brazil’s Federal Police and a Senate investigative panel said Tuesday they want to question National Security Agency leaker Edward Snowden to learn more about the spying program that targeted Latin America’s biggest country. According to information leaked by Snowden, President Dilma Rousseff’s communications with aides were intercepted, the computer network of state-run oil company Petrobras was hacked and data on billions of emails and telephone calls flowing through Brazil were monitored by the NSA. “For our investigation, questioning Snowden is a top priority,” said Jose Alberto Freitas, the head of the intelligence sector of Brazil’s Federal Police, before a Senate committee investigating the NSA spy program. “He could provide technical details that will help our investigation advance.” Ricardo Ferraco, who heads the committee, said that on Thursday he will ask the Russian government for permission to speak to Snowden via a video conference. Snowden received asylum in Russia in August.