InfoAnda - Russian economy shrinks almost 8 percent in 2009

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Tech focus now on Microsoft Windows 8, Surface tablet | | 25 October 2012
China releases long-serving dissident from jail | 13 December 2010
Afghan defense minister confident on war strategy | 2 August 2010

Would-be PM Soro calls for ICC mission to I.Coast | 23 December 2010

Forum Views () Forum Replies ()

Read more with google mobile : Russian economy shrinks almost 8 percent in 2009

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Russian economy shrinks almost 8 percent in 2009 AFP - Tuesday, February 2 Send IM Story Print Moscow's under-construction business district "Moscow City" is reflected on a wall near stray dogs in 2009. Construction on Moscow City has largely ground to a halt as a result of the global financial crisis. The Russian economy contracted 7.9 percent in 2009 in its worst performance for 15 years, as the economic crisis punished the country for failing to implement crucial reforms. MOSCOW (AFP) - – The Russian economy contracted 7.9 percent in 2009 in its worst performance for 15 years, as the economic crisis punished the country for failing to implement crucial reforms, statistics showed Monday. The gross domestic product (GDP) contraction was the most acute in Russia since 1994, when the economy was still grappling with the chaos of the aftermath of the Soviet collapse. But amid brightening prospects for 2010 the figure was slightly better than predicted by the government, which had been forecasting an even worse contraction of 8.5 percent. Economic growth in Russia in 2008 amounted to 5.6 percent but the economic crisis was by then already slamming the brakes on several years of robust momentum that had been fuelled by soaring energy prices. Economists have said that Russia has been paying the price for failing to reform and diversify its hydrocarbon-reliant economy during the good times and is still highly vulnerable to oil price shocks. The crisis had a particularly severe effect on the industrial sector -- most notably Russia's embattled largest carmaker Avtovaz -- prompting fears of social unrest in the worst hit single factory towns. Among the sectors hardest hit in 2009 was the construction industry, which contracted 16.4 percent in the period, the statistics office Rosstat said in a statement. The finished goods sector shrank 13.9 percent. Also badly affected was the hotel and restaurant sector, which shrank 15.4 percent. A quarterly breakdown was not immediately available. According to a report in the Russian business daily Kommersant on Monday, the average price of a hotel room in Moscow fell 36 percent to 267 dollars last year compared to 2008, the first such decline in years. President Dmitry Medvedev has in the last months admitted that Russia suffered worse than other countries from the crisis due to the failure of the authorities to change its economic model over the last years. He has called for the country to embrace far-reaching economic reform over the next years but analysts have criticised him for being long on rhetoric and short on concrete actions. In 1994, the economy shrank 12.7 percent from the year earlier. However the contraction in 2009 was even more sharp than the 5.3 percent dip recorded in 1998, the year of the financial crisis that brought Russia into virtual economic meltdown. Most economists expect Russia to return to modest growth in 2010 but caution that this will be largely a base effect from the weak performance in 2009 and it will take years for the country to return to pre-crisis growth levels. The ministry of economic development is forecasting growth of 3.1 percent in 2010, while ratings agencies Standard and Poor's and Fitch have both raised their outlooks for Russia to "stable" from "negative." The weekend saw one of the biggest protests in Russia since the economic crisis started, with 10,000 people turning up for a demonstration in the far western region of Kaliningrad, according to organizers. According to police, just 6,000 participated. The initial spark for the opposition rally on Saturday was a local government decision to raise road tax but reports said that economic grievances were also raised at the rally. The Vedomosti daily noted that at 10.5 percent, the unemployment rate in the region, is far higher than the Russian average. "The economic situation in the provinces is worse than in the capitals," it added. The Interfax news agency said Medvedev's special envoy for northwestern regions, Ilya Klebanov, travelled to Kaliningrad Monday for meetings in the wake of the protests. "The envoy has come to understand the causes of such a massive protest action," Interfax quoted a source in the regional parliament as saying. Recommend Send IM Story Print News Search Top Stories French court seeks answers on deadly Concorde crash Sony Pictures Entertainment cuts 450 jobs Russian economy shrinks almost 8 percent in 2009 ExxonMobil profit at 6 billion dollars in fourth quarter Obama seeks to create jobs, cut deficit in 2011 budget More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Healthy adults need less sleep as they age: study Brazil's fortunes slump on bubble fears, China tightening Toyota prepares to roll out pedal repairs French court seeks answers on deadly Concorde crash Federer makes it 16 slams with Murray win More Most Viewed » Scientists praise Obama as Doomsday clock reset More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Tuesday, 2 February 2010
Iran's judiciary chief refuses to speed executions
Hacker attack shuts website of Russian opposition newspaper
ExxonMobil profit at 6 billion dollars in fourth quarter
Macmillan raising e-book prices, Amazon opposed
A look at Iraq's March parliamentary vote
Attacks by female suicide bombers in Iraq
Nokia cuts phone prices as market growth returns
Fico favorite as Slovakia sets June 12 poll |
Suicide bomber kills 41 Shi'ite pilgrims in Iraq
Northern Ireland parties hopeful deal can be done |
Yiddish poet Abraham Sutzkever, 96, dies in Israel
NATO pressing for more training for Afghan forces |
Iran top judge rejects "political" hanging pressure
Berlusconi: Bring Israel into the EU
Ukraine's Tymoshenko revels as rival shuns TV clash |
Female suicide bomber hits Iraq pilgrims, kills 54
Pope confirms Britain visit, attacks equality bill |
Nokia cuts phone prices as market growth returns
7 US, European scientists win Israel's Wolf Prize
4 NATO troops, 1 from US, die in Afghan fighting
Pakistani Taliban promise proof leader is alive
Prosecutors quizz Japan ruling party heavyweight
Taiwan tunnel project cleared of typhoon deaths
Pakistan offers to train Afghan security forces
Obama budget would impose host of tax increases
Rival Koreas' talks sputter; North's guns quiet
Plane reporting on traffic lands on NJ Turnpike
Ore. faith healing case: Jury deliberations resume
States seeking to ban mandatory health insurance
Pakistan detains American man near Afghan border
Obama to visit Indonesia, Australia in March
Sri Lanka opposition complains of gov't pressure
NY grand jury indicts father of man in terror plot
Sri Lanka in biggest military purge after coup fears
Strong economy to help Thailand face protests: PM
Blaze that killed 5 in NYC is ruled arson
Obama seeks $192B for wars
US envoy say Iraqi vote must be accepted as fair
Without groundhogs, Alaska to celebrate Marmot Day
FACTBOX-Five political risks to watch in New Zealand
Obama seeks boost in Pakistan aid
60th Berlin film fest goes back to East-West roots
Rising exports boost India manufacturing activity
Etta James remains hospitalized in Riverside
Transformers, Bullock among Razzie contenders |
US-ENTERTAINMENT Summary
CBS sells out Super Bowl advertising spots
Egypt tightens penalties for relics robbers, smugglers
UK pop sale for Haiti raises $80,000 so far |
Rip Torn appears in Conn. court on burglary charge
CBS sells out Super Bowl advertising spots |
France honors actors Jim Carrey and EwaMcGregor
'Transformers', 'Land of Lost' top Oscar 'flops'
Pauly Fuemana of How Bizarre fame dies |
Stars gather to cover 'We Are the World' for Haiti
National Portrait Gallery hangs image of Salinger
Pauly Fuemana of "How Bizarre" fame dies
Marine deaths underline US struggle in Afghanistan
HRW calls on Russia to stop blocking 'peaceful' demos
US-TECH Summary
French court seeks answers on deadly Concorde crash
Google News tunes into favored topics
South Korea rules out payoff for summit with North |
Obama answers questions from YouTube users
U.S. fails to hit missile mimicking Iranian strike
Sony Pictures Entertainment cuts 450 jobs
'Mutiny' hits elite Russian riot police: report
U.S. seeks calm as China fumes over Taiwan arms |
Russian economy shrinks almost 8 percent in 2009
Iraq: Key figures since the war began
Ukraine's Yanukovich skips televised election debate
Berlusconi says Israel should join EU
ExxonMobil profit at 6 billion dollars in fourth quarter
Abbas offers talks with Israel if building halted |
Israelis disciplined in attack on UN warehouse
1,400 Twitter users tweet about democracy in US contest
Obama seeks to create jobs, cut deficit in 2011 budget
Russia arrests deal a blow to free speech: U.S. |
Bill Clinton to coordinate Haiti relief efforts |
Amazon, Macmillan in public tussle over e-book prices
"Alarming" rise in cyberattacks at social networks: Sophos
Somali pirates release cargo ship, ransom paid |
Pope confirms Britain visit, attacks equality bill |
Amazon loss on e-book pricing could fuel trend |
Smartphone competition to bite in 2010 after Q4 boom |
Audio shows slain Ariz. officer was wary at stop
Leaked Lost episode spurs surprising fan reaction |
TX store sells $144 million-winning lottery ticket
Stars gather to cover 'We Are the World' for Haiti
Judge denies feng shui master Wang fortune
Obama unveils budget for tough times
China investigates as melamine-tainted milk reappears
Google launches Chinese holiday travel map amid row
Backhoes, dogs search snow for Iowa State student
Australia PM warns of 'tight' elections
First woman set to lead California National Guard
Protester throws excrement into Thai PM's house
Gates to announce senior-level review on gay ban
Arrest of Americans deepens Haiti adoption debate
Malaysia's Anwar to call PM to sodomy trial
HK feng shui master loses bid for tycoon's fortune
Hong Kong 'referendum' sets China on edge
Weather forecast for the Asia-Pacific region
China launches emergency sweep for tainted milk
Stars gather to cover 'We Are the World' for Haiti
China ore standoff shows limits to economic clout
Toyota denies electronic problems in recall
S.Korea T-bond futures turn up after RBA decision
SKorean currency reserves hit fresh record high
PAKISTAN
Star power: celebrity endorsements surge at Grammys |
It's top-10 time as Oscars reveal expanded lineup
S.Korea fund to buy stake in British airport
Oscars then and now: A look at 1939's 10 nominees |
China's interests may limit sanctions on US firms
Orlando Bloom to star in Good Doctor |
US jazz supremo Metheny re-invents one-man band in France
HBO eyes biopic about anti-gay activist Bryant
Toyota gears up for mass faulty pedals fix
Olivia Wilde lassos role in Cowboys and Alien |
Leaked Lost episode spurs surprising fan reaction |
Oscars then and now: A look at 1939's 10 nominees
S.Korean bonds fall on U.S. lead, firmer shares
Transformers, Bullock among Razzie contenders |
HBO eyes biopic about anti-gay activist Bryant |
Korean pension fund to buy 12 pct stake in Gatwick airport -FT
Captain of 'Deadliest Catch' ship suffers stroke
Leaked "Lost" episode spurs surprising fan reaction
Rip Torn headed for rehab after arrested drunk in bank |
Grammy TV audience biggest in six years |
Star power: celebrity endorsements surge at Grammys
Matthew Broderick heads to "Beach" for TV pilot
Colbert faces off with Ford Jr. over NY residency
Afghan leader seeks Saudi help with Taliban |
Iran to hang nine more over election unrest
Univision launches YouTube channel
China warns U.S. on Dalai Lama, says to punish arms firms |
Concorde trial starts in France 10 years after crash |
Iran: US missile system meant to sow Gulf division
CORRECTED
Iran to hang nine more over election unrest |
Mousavi says he will fight for Iranians' rights
Ex-UK minister says Blair lied over Iraq war |
Dictatorship exists in Iran despite revolution: Mousavi
Afghan drug trade fuels insurgency
Iran criticizes U.S. missile deployments in Gulf |
West eyes Iran central bank in sanction push
Witness links Berlusconi associate to top mobster |
Americans held in Pakistan complain of torture |
Half population of south Sudan short of food -U.N. |
Crisis-hit Greeks scramble for tax receipts |
Google pushes Chrome browser as PC battle looms |
Online gamers set for consolidation wave in 2010 |
Karzai to talk Taliban reconciliation with Saudis
US official: China overreacted to Taiwan arms sale
Man who spent 3 months in Tokyo airport to leave
Use of Twitter, Facebook rising among gang members
Concorde crash trial to open in France
Americans held in Pakistan complain of torture
Sioux reservation struggling after winter storms
Indonesia to probe villas built in national park
'Terminal' activist to keep campaigning in China
Obama team pitching budget, jobs plan on Hill
Republican, Democrat hopefuls target Obama Senate seat
US to Japan: Solve int'l child custody problems
Philippine survey shows Aquino rival catching up
Pakistani rupee firms; o/n rates down; stocks flat
Upbeat US figures boost Asian markets
Violence erupts in N.Korea as hunger woes mount
Hollywood counts down to Oscar nominations
Nomura in black for third straight quarter
Siemens to invest $346mln in India
China faces risks from bank lending surge: OECD
Costco to spend about $940 mln in Taiwan expansion
Violence erupts in North Korean markets: reports
Avatar, Hurt Locker lead groundbreaking Oscars |
OECD recommends stronger Chinese currency
Sandra Bullock poised for first Oscar |
Toyota fears greater damage from latest recall
Stars remake We Are The World for Haiti victims |
Danica Patrick to appear on 'CSI: NY'
Leung: Wong Kar-wai's kung fu biopic action-packed
Jaws producer David Brown dies at 93 in New York |
Obama to show family his Indonesian past on visit
"Avatar" tightens its grip on UK box office
Cigarette-maker repents over exploding product
Simon Cowell's Haiti single hits airwaves |
Simon Cowell's Haiti single hits airwaves
Orlando Bloom to star in "Good Doctor"
US to change military gay ban: report
Olivia Wilde lassos role in "Cowboys and Alien"
Bordeaux wine industry rallies to survive in US
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01