At Queen Mary, University of London we provide access to a number of College resources including in-house facilities and state of the art equipment to assist with business growth and business development. Our services equip individuals and organisations with the necessary capabilities that will help enable business ideas to get off, and stay off the ground.
New arts quarter development
Includes the 40-seater Hitchcock cinema and screening room, a film production studio, a newly developed performance space including the Pinter Studio and a state of the art Linguistic Laboratory. For further information contact a.neale@qmul.ac.uk
Laboratory space
Visit the relevant academic department websites for more information
State of the art equipment
Visit the relevant academic department websites for more information.
Conference rooms and facilities
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Friday 4 December 2009
Asian success stories in UK
The identities of Britain's 200 most affluent Asian men and women - together worth £7bn - have been revealed with the publication of an official 'rich list'.
It features the country's wealthiest Asians and highlights the importance of the Asian business community in Britain.
Srichand Hinduja, 63, and his brother Gopi, 59, whose company has interests in finance, oil, industry and telecoms, topped the list.
The pair, whose company is valued at £1.3bn, came out just ahead of last year's richest businessman Lakshmi Mittal, 48, who is the second richest Asian worth £1.2bn, thanks to the family steel empire.
Indian television magnate Subhash Chandra, 48, who made his fortune in trading, is the country's third richest Asian worth £450m.
Also in the top 10 richest Asian's is Tom Singh, 49, who recently floated his New Look fashion store chain and is joint sixth richest worth £200 million alongside hotelier Jasminder Singh, 47.
Individuals who have made it onto the list have amassed their wealth in a variety of industries including finance and commodities, fashion, retailing, information technology, hotel and catering and pharmaceuticals.
Author Salman Rushdie has been included for the first time this year.
The list is published by Eastern Eye newspaper and was compiled by Philip Beresford, author of the Sunday Times Rich List.
Diverse enterprise
Eastern Eye editor-in-chief Sarwar Ahmed said: "We started this project three years ago and it's fascinating to see the growth of Asian wealth in the UK.
"The lowest entry this year came in at £5m. It's also interesting to note that there is a definite broadening of the industries that Asians are investing in.
"We are seeing the community diversify into other industries including finance, media, pharmaceuticals and IT.
"We are also seeing lots more women are coming forward and that reflects how Asian women have gained independence over the last 10 or 20 years.
"We are also seeing Asians making their mark in the City which is an area that was previously pretty well exclusively white and male dominated.
"So the list is not just about just how much money people have got but more a general reflection of Asian society and its contribution to the country as a whole."
Rich by region
Major cities with large Asian populations such as Manchester, Birmingham and Leicester have between five and 20 entries in the list.
But the authors expressed surprise that Bradford received only one entry.
In proportion to the Asian population the West Yorkshire city comes out bottom of the millionaires' league table with only one Asian business man and woman securing an entry.
Dilbag Singh and Mrs Gurmail Kaur, who together own the £10m textile importer and distributors Dilbag Cloth House, reached 90th place in the table.
Mr Ahmed said: "We expected to see the spread of millionaires to marry with the spread of the Asian community across the UK and so were very surprised to find only one entry from Bradford.
"I'm sure there are more, so if anyone thinks they qualify to be included in next year's issue they should let us know."
Among the elite were 18 entries from Manchester whose combined wealth topped £390m.
They included Iqbal Ahmed, chairman of Seamark, Shami Ahmed of clothing firm Joe Bloggs fame, Rajan Kuma of The Rajan Group, and one of the youngest entries - 27-year-old Wasim Akhter of fashion chain Barneys.
It features the country's wealthiest Asians and highlights the importance of the Asian business community in Britain.
Srichand Hinduja, 63, and his brother Gopi, 59, whose company has interests in finance, oil, industry and telecoms, topped the list.
The pair, whose company is valued at £1.3bn, came out just ahead of last year's richest businessman Lakshmi Mittal, 48, who is the second richest Asian worth £1.2bn, thanks to the family steel empire.
Indian television magnate Subhash Chandra, 48, who made his fortune in trading, is the country's third richest Asian worth £450m.
Also in the top 10 richest Asian's is Tom Singh, 49, who recently floated his New Look fashion store chain and is joint sixth richest worth £200 million alongside hotelier Jasminder Singh, 47.
Individuals who have made it onto the list have amassed their wealth in a variety of industries including finance and commodities, fashion, retailing, information technology, hotel and catering and pharmaceuticals.
Author Salman Rushdie has been included for the first time this year.
The list is published by Eastern Eye newspaper and was compiled by Philip Beresford, author of the Sunday Times Rich List.
Diverse enterprise
Eastern Eye editor-in-chief Sarwar Ahmed said: "We started this project three years ago and it's fascinating to see the growth of Asian wealth in the UK.
"The lowest entry this year came in at £5m. It's also interesting to note that there is a definite broadening of the industries that Asians are investing in.
"We are seeing the community diversify into other industries including finance, media, pharmaceuticals and IT.
"We are also seeing lots more women are coming forward and that reflects how Asian women have gained independence over the last 10 or 20 years.
"We are also seeing Asians making their mark in the City which is an area that was previously pretty well exclusively white and male dominated.
"So the list is not just about just how much money people have got but more a general reflection of Asian society and its contribution to the country as a whole."
Rich by region
Major cities with large Asian populations such as Manchester, Birmingham and Leicester have between five and 20 entries in the list.
But the authors expressed surprise that Bradford received only one entry.
In proportion to the Asian population the West Yorkshire city comes out bottom of the millionaires' league table with only one Asian business man and woman securing an entry.
Dilbag Singh and Mrs Gurmail Kaur, who together own the £10m textile importer and distributors Dilbag Cloth House, reached 90th place in the table.
Mr Ahmed said: "We expected to see the spread of millionaires to marry with the spread of the Asian community across the UK and so were very surprised to find only one entry from Bradford.
"I'm sure there are more, so if anyone thinks they qualify to be included in next year's issue they should let us know."
Among the elite were 18 entries from Manchester whose combined wealth topped £390m.
They included Iqbal Ahmed, chairman of Seamark, Shami Ahmed of clothing firm Joe Bloggs fame, Rajan Kuma of The Rajan Group, and one of the youngest entries - 27-year-old Wasim Akhter of fashion chain Barneys.
Small Business Success Stories
Meet the Entrepreneurs of the Year
The Oscars for business. That's how Selim Bassoul, president and CEO of food-service equipment maker Middleby (MIDD) describes Ernst & Young's annual Entrepreneur of ...
October 13, 2009
Meet the Celebrity Gardener
Asafumi Yamashita runs his fingers delicately through a bushy green tomato vine, plucking handfuls of blueberry-sized fruit. The bright red micro-tomatoes, bursting ...
September 11, 2009
A Conversation with Savile Row Tailor Richard Anderson
London's Savile Row is famous for its independent tailoring shops that have been selling bespoke men's clothing along the short street since 1623. But in an era of ...
May 19, 2009
Who Are the Richest People in Town?
Have you ever wondered who the richest man in town is? W. Randall Jones has. The former magazine executive found himself in a country club near his hometown of ...
May 12, 2009
America's Long-Running Restaurants
Good food, great atmosphere, spectacular location. Even if you have all three, opening and running an eatery remains an exceedingly risky venture. Indeed, by most ...
May 8, 2009
Riding Out the Recession With Repairs
Last year the management at Shelly Investments, which owns a pair of car dealerships and an auto repair service, Spectrum Collision, in Irvine, Calif., worried that ...
February 10, 2009
What I Learned in the Trenches
After 13 years in the Marine Corps, Brian Iglesias was ready to embark on a dream career in filmmaking. Prepared to pay his dues, he worked the phones, sent e-mails, ...
February 6, 2009
For Some Small Businesses, Recession Is Good News
The current economic picture is certainly a gloomy one, with massive layoffs, bankruptcies, the collapse of financial institutions, and a severe credit crunch. But the...
December 19, 2008
Venture Capital's Favorite Startups
Over the past four quarters—even as the depths of the nation's economic problems became evident—venture capitalists invested more than $7 billion in seed ...
October 31, 2008
Why Small Manufacturers Are Going Green
As a maker of conveyor systems for manufacturers, Shuttleworth always changed with the times. The 100-employee Huntington (Ind.) company's strong business in ...
October 24, 2008
Talking to Mario Batali
As the owner of 14 restaurants, the author of six cookbooks, and a familiar presence on several TV shows, Mario Batali has entered the rarefied ranks of what is known ...
October 17, 2008
Learning from the Great Depression
At 179 years old, Yuengling remains the country's oldest beer maker. Dick Yuengling, the fifth-generation CEO, says the family kept the business afloat by diversifying...
September 30, 2008
The Last Typewriter Repairman?
Every business day, as he has done for the past 49 years, Paul Schweitzer, 69, travels the streets and skyscrapers of Manhattan making "house" calls, carrying his ...
September 5, 2008
Gene Simmons: Rock 'n' Roll Entrepreneur
As the fire-spitting front man for the rock band KISS, Gene Simmons has put on his kabuki make-up and donned his platform dragon boots for the past 35 years. But for ...
July 16, 2008
From Real Estate Developer to Pizza Man
Wearing shorts, t-shirt, and baseball cap, real estate developer Jim McGown is kneading balls of handmade dough, tossing them in the air, catching them, then shaping ...
June 13, 2008
Dad: An Entrepreneur's Secret to Success
Entrepreneurs often get a helping hand from their parents. In honor of Father's Day, we asked successful business owners how their fathers helped them succeed in ...
June 11, 2008
A Health-Care Entrepreneur-Turned-Farmer
Rain is coming, and Stephen Tiwald and his son are in a bind. The $30,000 tractor they got to speed up production on their Midwest minifarm has instead brought work to...
May 14, 2008
Centuries-Old Family Businesses Share Their Secrets
In 2000, a few members of the Lyman family moved out of its capacious ancestral home. Though the house, set on a sprawling farm in Middlefield, Conn., had been ...
May 12, 2008
From Junkie to Software Success
Bob Williamson fled a broken home in Mississippi at age 17 to hitchhike around the country. He landed in Atlanta in 1970 at 24, homeless, broke, and addicted to heroin...
May 8, 2008
Mom: An Entrepreneur's Secret to Success
Richard Branson's parents told him to never criticize anyone. He still tries to apply that rule at Virgin Group. When Bobbi Brown was struggling to decide what to do ...
March 14, 2008
An Entrepreneurial Path to Peace
About five years ago, Stef Wertheimer came across Gamila Hiar, a Druze woman with no formal education who had learned the ancient art of making soap from wild herbs ...
March 14, 2008
Who Is Stef Wertheimer?
Early on, Stef Wertheimer, the founder of Iscar Metalworking, a manufacturer of industrial precision metal-cutting tools, decided that entrepreneurship was an answer ...
January 16, 2008
Israel's Winemaking Revolution
The Golan Heights Winery vineyards climb from the Sea of Galilee to snow-capped Mount Hermon near Israel's border with Lebanon and Syria. A picturesque region of ...
January 14, 2008
Restaurateurs Don't Just Wing It
Jordan Busch and Sara Sawicki are the co-owners of Fire on the Mountain Buffalo Wings, a bustling wing joint in Portland, Ore., which has been embraced as a local ...
October 5, 2007
Business Courses Give Kids a Leg Up
When she was a 17-year-old student at Mt. Carmel High School in Derby, Kan., Abby Lewis developed a business plan for the Scribbler, a nail polish applicator that ...
Page: 1 2 3
The Oscars for business. That's how Selim Bassoul, president and CEO of food-service equipment maker Middleby (MIDD) describes Ernst & Young's annual Entrepreneur of ...
October 13, 2009
Meet the Celebrity Gardener
Asafumi Yamashita runs his fingers delicately through a bushy green tomato vine, plucking handfuls of blueberry-sized fruit. The bright red micro-tomatoes, bursting ...
September 11, 2009
A Conversation with Savile Row Tailor Richard Anderson
London's Savile Row is famous for its independent tailoring shops that have been selling bespoke men's clothing along the short street since 1623. But in an era of ...
May 19, 2009
Who Are the Richest People in Town?
Have you ever wondered who the richest man in town is? W. Randall Jones has. The former magazine executive found himself in a country club near his hometown of ...
May 12, 2009
America's Long-Running Restaurants
Good food, great atmosphere, spectacular location. Even if you have all three, opening and running an eatery remains an exceedingly risky venture. Indeed, by most ...
May 8, 2009
Riding Out the Recession With Repairs
Last year the management at Shelly Investments, which owns a pair of car dealerships and an auto repair service, Spectrum Collision, in Irvine, Calif., worried that ...
February 10, 2009
What I Learned in the Trenches
After 13 years in the Marine Corps, Brian Iglesias was ready to embark on a dream career in filmmaking. Prepared to pay his dues, he worked the phones, sent e-mails, ...
February 6, 2009
For Some Small Businesses, Recession Is Good News
The current economic picture is certainly a gloomy one, with massive layoffs, bankruptcies, the collapse of financial institutions, and a severe credit crunch. But the...
December 19, 2008
Venture Capital's Favorite Startups
Over the past four quarters—even as the depths of the nation's economic problems became evident—venture capitalists invested more than $7 billion in seed ...
October 31, 2008
Why Small Manufacturers Are Going Green
As a maker of conveyor systems for manufacturers, Shuttleworth always changed with the times. The 100-employee Huntington (Ind.) company's strong business in ...
October 24, 2008
Talking to Mario Batali
As the owner of 14 restaurants, the author of six cookbooks, and a familiar presence on several TV shows, Mario Batali has entered the rarefied ranks of what is known ...
October 17, 2008
Learning from the Great Depression
At 179 years old, Yuengling remains the country's oldest beer maker. Dick Yuengling, the fifth-generation CEO, says the family kept the business afloat by diversifying...
September 30, 2008
The Last Typewriter Repairman?
Every business day, as he has done for the past 49 years, Paul Schweitzer, 69, travels the streets and skyscrapers of Manhattan making "house" calls, carrying his ...
September 5, 2008
Gene Simmons: Rock 'n' Roll Entrepreneur
As the fire-spitting front man for the rock band KISS, Gene Simmons has put on his kabuki make-up and donned his platform dragon boots for the past 35 years. But for ...
July 16, 2008
From Real Estate Developer to Pizza Man
Wearing shorts, t-shirt, and baseball cap, real estate developer Jim McGown is kneading balls of handmade dough, tossing them in the air, catching them, then shaping ...
June 13, 2008
Dad: An Entrepreneur's Secret to Success
Entrepreneurs often get a helping hand from their parents. In honor of Father's Day, we asked successful business owners how their fathers helped them succeed in ...
June 11, 2008
A Health-Care Entrepreneur-Turned-Farmer
Rain is coming, and Stephen Tiwald and his son are in a bind. The $30,000 tractor they got to speed up production on their Midwest minifarm has instead brought work to...
May 14, 2008
Centuries-Old Family Businesses Share Their Secrets
In 2000, a few members of the Lyman family moved out of its capacious ancestral home. Though the house, set on a sprawling farm in Middlefield, Conn., had been ...
May 12, 2008
From Junkie to Software Success
Bob Williamson fled a broken home in Mississippi at age 17 to hitchhike around the country. He landed in Atlanta in 1970 at 24, homeless, broke, and addicted to heroin...
May 8, 2008
Mom: An Entrepreneur's Secret to Success
Richard Branson's parents told him to never criticize anyone. He still tries to apply that rule at Virgin Group. When Bobbi Brown was struggling to decide what to do ...
March 14, 2008
An Entrepreneurial Path to Peace
About five years ago, Stef Wertheimer came across Gamila Hiar, a Druze woman with no formal education who had learned the ancient art of making soap from wild herbs ...
March 14, 2008
Who Is Stef Wertheimer?
Early on, Stef Wertheimer, the founder of Iscar Metalworking, a manufacturer of industrial precision metal-cutting tools, decided that entrepreneurship was an answer ...
January 16, 2008
Israel's Winemaking Revolution
The Golan Heights Winery vineyards climb from the Sea of Galilee to snow-capped Mount Hermon near Israel's border with Lebanon and Syria. A picturesque region of ...
January 14, 2008
Restaurateurs Don't Just Wing It
Jordan Busch and Sara Sawicki are the co-owners of Fire on the Mountain Buffalo Wings, a bustling wing joint in Portland, Ore., which has been embraced as a local ...
October 5, 2007
Business Courses Give Kids a Leg Up
When she was a 17-year-old student at Mt. Carmel High School in Derby, Kan., Abby Lewis developed a business plan for the Scribbler, a nail polish applicator that ...
Page: 1 2 3
How To Succed in Business
Many more people are leaving the regular nine-to-five job experience to start their own businesses. Some do it in order to pursue a life long dream, others to utilise a gift or talent, in order to earn some extra income.
You do not even have to quit your job to go into business. You can be a business by your self (become a consultant) in an area of your expertise and increase your cash flow. Whatever the reason for going into business, it is important that you succeed at it.
Your business will succeed when your capabilities meets opportunities in the market place. You will succeed when your products are of good quality and your service is excellent. But most of all your success can only be guaranteed when people know who you are, what you can do and where you are.
Hence we believe you can increase your income and promote your business by going through 5 simple steps in order to create the awareness to win new customers
IDENTIFY
Establish a presence in the market place by developing your corporate identity.
Create a logo that defines your business ethos and vision.
Develop a strong brand that is identifiable.
Let your corporate stationeries speak for you and announce who you are, what you do and where you are.
PROMOTE.
Make your goods and services known and establish your brand in that market place by creating eye catching colour designs on leaflets, brochures, marketing cards, posters and displays.
IMPRESS YOUR CLIENTS.
Impress your clients as you inform them about your expertise and value proposition.
Create impressive and professional presentation folders, report covers, regular newsletters and booklets.
KEEP THEM INTERESTED.
Keep old customers interested in your business all year long by creating attention grabbing bookmarks, stickers, credit cards, note pads and calendars that will keep them coming back to you all year round.
CONTACT THEM.
And finally after your clients have identified you and have promoted your business, impress them with your expertise and capture their interest, ensure you maintain contact so they remember who you are, what you can do and where you are.
You do not even have to quit your job to go into business. You can be a business by your self (become a consultant) in an area of your expertise and increase your cash flow. Whatever the reason for going into business, it is important that you succeed at it.
Your business will succeed when your capabilities meets opportunities in the market place. You will succeed when your products are of good quality and your service is excellent. But most of all your success can only be guaranteed when people know who you are, what you can do and where you are.
Hence we believe you can increase your income and promote your business by going through 5 simple steps in order to create the awareness to win new customers
IDENTIFY
Establish a presence in the market place by developing your corporate identity.
Create a logo that defines your business ethos and vision.
Develop a strong brand that is identifiable.
Let your corporate stationeries speak for you and announce who you are, what you do and where you are.
PROMOTE.
Make your goods and services known and establish your brand in that market place by creating eye catching colour designs on leaflets, brochures, marketing cards, posters and displays.
IMPRESS YOUR CLIENTS.
Impress your clients as you inform them about your expertise and value proposition.
Create impressive and professional presentation folders, report covers, regular newsletters and booklets.
KEEP THEM INTERESTED.
Keep old customers interested in your business all year long by creating attention grabbing bookmarks, stickers, credit cards, note pads and calendars that will keep them coming back to you all year round.
CONTACT THEM.
And finally after your clients have identified you and have promoted your business, impress them with your expertise and capture their interest, ensure you maintain contact so they remember who you are, what you can do and where you are.
Fraud suspect stopped from travelling
A suspect in what is alleged to be the UK's biggest Ponzi fraud scheme has been stopped from travelling to New Zealand after police seized his ticket.
Kenneth Peacock, of Virginia Water, Surrey, was told by City of London detectives that his ticket was an asset which he was not allowed to dispose of.
The police have secured a freezing order against Mr Peacock, Kautilya Nandan Pruthi and John Anderson.
A scheme which promised returns of up to 13% a month is under investigation.
The police cancelled the flight tickets with the agents and arranged for a refund to be paid into a nominated account they have set up as part of their investigation.
Mr Peacock, Mr Pruthi and Mr Anderson were arrested on 21 May.
Police are investigating a high-yield scheme in which hundreds of investors, including sports stars and celebrities, collectively invested £84m into Knightsbridge-based Business Consulting International (BCI).
The company offered investors returns of up to 13% a month.
The freezing order restricts the three suspects to living on £250 per week reasonable living expenses.
The allowance was reduced from £1,000 per week following an application to the court by police.
The order also requires the three men to disclose all assets worldwide.
A spokesman for City of London Police told the BBC they could not comment on the case.
Kenneth Peacock, of Virginia Water, Surrey, was told by City of London detectives that his ticket was an asset which he was not allowed to dispose of.
The police have secured a freezing order against Mr Peacock, Kautilya Nandan Pruthi and John Anderson.
A scheme which promised returns of up to 13% a month is under investigation.
The police cancelled the flight tickets with the agents and arranged for a refund to be paid into a nominated account they have set up as part of their investigation.
Mr Peacock, Mr Pruthi and Mr Anderson were arrested on 21 May.
Police are investigating a high-yield scheme in which hundreds of investors, including sports stars and celebrities, collectively invested £84m into Knightsbridge-based Business Consulting International (BCI).
The company offered investors returns of up to 13% a month.
The freezing order restricts the three suspects to living on £250 per week reasonable living expenses.
The allowance was reduced from £1,000 per week following an application to the court by police.
The order also requires the three men to disclose all assets worldwide.
A spokesman for City of London Police told the BBC they could not comment on the case.
Business news in uk 2009
Dutch pension fund manager prepares UK push
LONDON, Dec 1 (Reuters) - APG, the fund firm owned by the Netherlands' largest pension fund, is preparing to fight for pension management and administration business in the UK as part of its cross-border expansion plans, an APG executive said.
In 2010 the fund manager, which has about 205 billion euros ($309 billion) under management, will pitch for mandates in the UK with assets of hundreds of millions of euros, said Jaap Maassen, APG's senior vice president for international business.
APG spent 2009 focused on consolidating its position in the Netherlands following the merger with construction industry pension fund Cordares in 2008, Maassen said on Monday on the sidelines of the sidelines of the Multi Pensions 2009 conference.
"We are looking at the UK, Belgium and Italy. We are looking at mandates both in asset management and pension administration," he said.
The fund manager, which was created in 2008, sealed a partnership in Italy last year with pension fund services provider PensPlan to gain a foothold in the Italian pension industry, which is expected to grow as a result of a reform approved in 2004. In the United Kingdom, which like the Netherlands is home to one of Europe's more developed pension industries, APG will face strong competition, which Maassen hopes he can head off by touting APG's experience in administration services.
"We also have access to less liquid assets like private equity and complex products like hedge funds," Maassen said. ($1=.6635 Euro) (Editing by Karen Foster) ((cecilia.valente@thomsonreuters.com; +44 (0)207 542 3570; Reuters Messaging: cecilia.valente.thomsonreuters.com@reuters.net))
LONDON, Dec 1 (Reuters) - APG, the fund firm owned by the Netherlands' largest pension fund, is preparing to fight for pension management and administration business in the UK as part of its cross-border expansion plans, an APG executive said.
In 2010 the fund manager, which has about 205 billion euros ($309 billion) under management, will pitch for mandates in the UK with assets of hundreds of millions of euros, said Jaap Maassen, APG's senior vice president for international business.
APG spent 2009 focused on consolidating its position in the Netherlands following the merger with construction industry pension fund Cordares in 2008, Maassen said on Monday on the sidelines of the sidelines of the Multi Pensions 2009 conference.
"We are looking at the UK, Belgium and Italy. We are looking at mandates both in asset management and pension administration," he said.
The fund manager, which was created in 2008, sealed a partnership in Italy last year with pension fund services provider PensPlan to gain a foothold in the Italian pension industry, which is expected to grow as a result of a reform approved in 2004. In the United Kingdom, which like the Netherlands is home to one of Europe's more developed pension industries, APG will face strong competition, which Maassen hopes he can head off by touting APG's experience in administration services.
"We also have access to less liquid assets like private equity and complex products like hedge funds," Maassen said. ($1=.6635 Euro) (Editing by Karen Foster) ((cecilia.valente@thomsonreuters.com; +44 (0)207 542 3570; Reuters Messaging: cecilia.valente.thomsonreuters.com@reuters.net))
Russian business news in brief
Russia’s economy to recover fully in 2012
The Russian economy is expected to reach 2008 pre-crisis levels in 2012, said Kremlin economic aide Arkady Dvorkovich. But he added that the government would end anti-crisis measures only after GDP grew for several consecutive quarters.
Rosstat said the country’s GDP grew by an estimated 13.9pc quarter-on-quarter in July-September 2009, but declined 8.9pc year-on-year. In 2008, the Russian economy expanded 5.6pc.
Officials said the third quarter would see the start of Russia’s exit from recession, but it was too early to say the economic crisis was over.
RIA Novosti
Medvedev vows to lift trade barriers
President Medvedev said protectionist measures by Russia during the economic crisis will be removed when good times return.
In his Apec CEO Summit keynote speech in Singapore he said: “We need to reaffirm our obligations to undertake anything we can to stay away from protectionism, in any form.”
He called on other Apec economies to reaffirm their commitment to free trade, adding: “Russia realises the harm of protectionism during this crisis period. That’s why I want to emphasise that those [measures undertaken by Russia] are short-term.”
BBC Monitoring
Russia looks at $2bn-$4bn WB loans
The Russian finance ministry and the World Bank are in discussion over potential forms of borrowing Russia might need in 2010-2011, said Klaus Rohland, World Bank director and resident representative in Russia.
The parties are discussing the possibility of a loan – over the next two years, Russia plans to borrow $2-$4bn from the World Bank – and also World Bank guarantees for Vnesheconombank's [the state-run bank supporting trade and investment] loans.
The Russian economy is expected to reach 2008 pre-crisis levels in 2012, said Kremlin economic aide Arkady Dvorkovich. But he added that the government would end anti-crisis measures only after GDP grew for several consecutive quarters.
Rosstat said the country’s GDP grew by an estimated 13.9pc quarter-on-quarter in July-September 2009, but declined 8.9pc year-on-year. In 2008, the Russian economy expanded 5.6pc.
Officials said the third quarter would see the start of Russia’s exit from recession, but it was too early to say the economic crisis was over.
RIA Novosti
Medvedev vows to lift trade barriers
President Medvedev said protectionist measures by Russia during the economic crisis will be removed when good times return.
In his Apec CEO Summit keynote speech in Singapore he said: “We need to reaffirm our obligations to undertake anything we can to stay away from protectionism, in any form.”
He called on other Apec economies to reaffirm their commitment to free trade, adding: “Russia realises the harm of protectionism during this crisis period. That’s why I want to emphasise that those [measures undertaken by Russia] are short-term.”
BBC Monitoring
Russia looks at $2bn-$4bn WB loans
The Russian finance ministry and the World Bank are in discussion over potential forms of borrowing Russia might need in 2010-2011, said Klaus Rohland, World Bank director and resident representative in Russia.
The parties are discussing the possibility of a loan – over the next two years, Russia plans to borrow $2-$4bn from the World Bank – and also World Bank guarantees for Vnesheconombank's [the state-run bank supporting trade and investment] loans.
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