TODAY: Medvedev denounces corruption as main problem in Russia, argues business mentality needs transformation, does not rule out standing at 2012 elections and hints at a possible U-turn on Iran.  NATO chief calls for closer cooperation with Russia; Medvedev suggests US was prime obstacle to WTO bid.  Military deal with Abkhazia and South Ossetia.  CPJ report highlights neglect regarding unsolved journalist murders.'We are not used to saying 'we have a dream' in my country ... but this is my political vision':  Medvedev has promised to 'squeeze' corruption out of Russia with a reform program laid out at a Valdai debate club meeting.  The President also told the audience that the ...

TODAY: Sergei Lavrov opens talks in Pyongyang; Russians skeptical about Medvedev's level of power; Medvedev's blog flooded with comments; PM to have access to state secrets?; Siberia sells 'anti-democracy' truckForeign Minister Sergei Lavrov has arrived in North Korea for two days of talks regarding nuclear issues and bilateral talks.  Despite critical noises, Lavrov has said that Russia does not see NATO as 'an inherent source of danger' but rather as a core factor in 'Euro-Atlantic security'.  As the end of his first year in office approaches, a survey says only 15% of Russians believe that President Medvedev is really in charge, with 27% believing that Putin pulls the strings, the Moscow Times reports.  'Any of us can write what we want, and nothing ...

TODAY: Sergei Lavrov opens talks in Pyongyang; Russians skeptical about Medvedev's level of power; Medvedev's blog flooded with comments; PM to have access to state secrets?; Siberia sells 'anti-democracy' truckForeign Minister Sergei Lavrov has arrived in North Korea for two days of talks regarding nuclear issues and bilateral talks.  Despite critical noises, Lavrov has said that Russia does not see NATO as 'an inherent source of danger' but rather as a core factor in 'Euro-Atlantic security'.  As the end of his first year in office approaches, a survey says only 15% of Russians believe that President Medvedev is really in charge, with 27% believing that Putin pulls the strings, the Moscow Times reports.  'Any of us can write what we want, and nothing ...

The Independent Tuesday, 1 July 2008 Bankers were thought to be facing tough times after the credit crunch. But in Moscow, where business is booming, Brits are being attracted by soaring salaries. By Jason Corcoran and Nick ClarkIt has been a very good year to be Russian. The national football team sparkled at Euro 2008, it secured the unrivalled musical accolade of winning the Eurovision Song Contest, and while the markets around the world disintegrate, its own economy has continued to boom.Soaring consumer spending, oil past $140 a barrel, record numbers of mergers and acquisitions (M&A) and a high growth rate means the financial focus is firmly on Russia in 2008.Investment bankers in the West are charging to Moscow to cash in on the rise of lucrative takeover deals, as London and New York have increasingly become graveyards for the ...

Article Source: Nonresidential investment has been increasing until 2008Q1, at which time it essentially stalled (-0.2 ppts. annualized in log terms). On the basis of past historical correlations, what's in store? Figure 1: Four quarter growth rate in nonresidential investment (blue) and residential investment (red) lagged one year, calculated as four quarter log difference. Source: BEA GDP release of 29 May 2008, NBER, and author's calculations.Figure 1 depicts the time series for year-on-year nonresidential investment growth, and residential investment growth lagged four quarters. There's an obvious correlation, but clearly it's not a particularly strong one. There are periods where business fixed investment levitates above residential growth, such as the latter part of the 1980s (due to the dollar's depreciation), and during the 1990s, as well as the most recent few quarters. The relationship ...