the helped to close the wide gap between brazil pip rich elite and the poor. -- between brazil's rich elite and the poor. >> crowds applauded enthusiastically when brazil's president enters the room. his presence can fill a stadium. he hugs people and kisses babies. he likes to be seen as a man of the people and rebels in their attention. he spends most of his time in the capital brasilia, but his affects can best be seen elsewhere in the country. here in the dirt-poor regions of eastern brazil, man well and his siblings make a meal out of fish river water. their mother cooked dried beans to go with them. a poor family's dinner in brazil. >> i used to have to go begging to feed my 12 children. now we get a little money from the state so i do not have to beg anymore. i can even do some shopping. >> the da silva's house has dirt floors. two rooms has a family of 15. they do not have running water. carla and marcus walk several kilometers a day over hot roads to fetch them. today, not a drop comes from the tap. that is everyday life in the poor, and dry state in northeast brazil. here in

>> that's correct. >> so how come -- what's going on in brazil? >> you know, it's the u.s. 1950. >> is that right? >> now it's a growing population. it's energy self sufficient. it's food self sufficient. it's growing, and they've at least now solved the problem of inflation. and they've got a very disciplined government that is socially aggressive and fiscally conservative. >> but what kind of changes will we see as we see government changes? >> well, hopefully whoever wins this election in october -- and it appears to be the case -- both of them will continue president lula's policy. if that continues to be the case, i would think that brazil is likely to be one of the number one or two countries in the world from a growth point of view for the next five or ten years. >> whether he does valuation start to bother you? you've been such a savvy investor in real estate around the world. but a lot of people are sort of on your heels in figuring out the strength of brazil right now. has valuation become an issue yet? >> i think not yet. i mean, i -- o

more on brazil's rising property market. in mozambique, the government has said 8 30 cents increase in the price of bread will not be reversed. this comes amid a second day of rights which has now claimed at least seven lives. another 280 people have been injured in the given stations against the cost of living, and water and prices have also gone up. >> the people of mozambique have been pushed to their limits. they are angry at the rising cost of living. the price of bread controlled by the government has gone up by 30%. water and fuel have also become more expensive. the result is riots on the streets of the capital. after the authorities blocked off many of the roads, the situation had been, more on thursday. many people are scared to lose their homes. some people have been to out to throw stones at the police. it follows bloody scenes on wednesday in which at least six people were killed. shops were looted, and buses and trade houses were destroyed. now, in a bid to restore calm, the government has deployed the army to

they currently have the exclusive rights to develop $5 billion of that, burning brazil into the top ranks of the world's oil producing countries -- bringing brazil into the top ranks of the world's oil- producing countries. >> i asked our correspondent how the ipo was received on the new york stock exchange. >> it was such a huge offering, you could have expected some pressure on the stock, but it is holding on fairly well to the levels that we see in the evening session. in general, the response has been tremendous. there was huge demand that wall street obviously it is quite happy with the stock offering and also with the plans that petrobras is following. >> a closer look at the numbers, european shares got a boost on the final trading day of the week. the dax climbed 1.8%, finishing over 6000. the euro stoxx 50 locking and gains of 2%. in new york, shares are closing at the top of the hour, enjoying a big rally, closing nearly 1.9% higher. and on the currency markets, the euro trading at $1.3491. >>> german business confidence has risen unexpectedly this month, calling recent fears th

more from brazil -- >> petrobas may not have been well known before this week, but it is now. the state backed company has raised $70 billion in the biggest share offering in history. the oil company needs the funds for its five-year investment plan to develop the gigantic oil reserves recently found in deep waters of the brazilian coast. it will also help to push the south american country into the elite of global finance. >> this capitalization shows the power that the stock market of brazil will have from now on. it will definitely be the largest brazil has ever seen, and maybe the world's largest. >> the government views this as essential for brazil's ambitious growth plans, and it is likely to provide a boost for the president ahead of next month's election. the massive influx of foreign money to buy the shares has caused further appreciation of the brazilian currency. it is already seen by some investors as one of the most overvalued in the world. that is putting pressure on the rest of the country, as it struggles to compete in the global market. bbc news. >> in the u.k

we will switch back to the brazil story. brazil is counting down to the election this weekend. they will choose a successor to president lula, barred from seeking a third term. he is backing dilma rousseff. polls suggest a close result. >> dilma held her last campaign rally ini heavy rain. this failed to dampen her belief that she will do well on the polls. we have been working 24 hours a day. and we are sure to win. the latest polls show dilma rousseff poised for a first- round win in next week's of the currency lost ground as fresh corruption charges emerged against the government. but the record approval ratings and the charisma of president lula seems to be shielding his chosen candidate from all attacks by the opposition. hisa rousseff priaseaised achievements many times. "we have managed to bring 28 million people of poverty under lula." the campaign has been riding on president lula's popularity. the strategy seems to be working. they do not have the same kind of excitement and expectation that surrounded his election eight years ago. one reason is that this time nobody

minister for brazil now he will tell us more about the relationship of the bric countries brazil russia india and china some experts are doubting the appropriateness of grouping these countries together because they are economically so different why are they together in the first place. very logical intuition and logical lucian's we have similar challenges in terms of to. accomplish two. large. sweep careful the plane carrying the role in the international scene. because in the past there were they were critical even the take. over you know your . water plates. participate in negotiations. climate negotiations. in the g twenty. has been organizing and exchanging views and trying to. those negotiations sure it's. a little russia recently but there. isn't really anything concrete or big so what does that say about the relationship of brazil and russia. sure hope. since nothing is a question. all you'll get snow in the same. money should be no relief groups that fly alone while school full of the she's going to be good with business relations all right thank you very much thank you so agai

to send the money to brazil where the rain forest is to promote environmental equality. you notice that? he mentioned the free market. but remember holdren's goal is global wealth redistribution. >> it's important we have a global agreement on how we are going to limit emission of carbon -- carbon dioxide and other greenhouse gases going forward and will include ways to transfer some of the revenue from carbon taxes or carbon emission permits in the north to pay for reduced deforestization in the south. >> glenn: how do you do that in the free market? the free market works on supply and demand. the government attempts to create demand by regulating, oh, i don't know, oil. regulate oil. force america to buy it overseas at poorer companies. they're doing it with the auto industry. let's say you are starting to make electric cars. we must make electric cars. they're expensive to make. can you make them cheaper in america or china? we create the demand, they supply it. we send the money and they send the car. global redistribution of wealth. how about solar panels? we hear a

brazil is counting down to the presidential election this weekend. the front runner last night told thousands of reporters that she represented continuity. we have this report from last night's rally. >> she held her last rally in heavy rain, but it failed to dampen the enthusiasm of her supporters. >> we are closing this campaign. we have been working 24 hours per day. >> the latest polls show her poise for a first-round win in next week's vote. she has lost ground as fresh corruption charges emerged against the government, but the charisma seem to be shooing away the attacks from the opposition. rally many times. >> in this government we have managed to bring 28 million people out of poverty. twice the population of chile. >> the strategy seems to be working. what we have now is the same kind of excitement and expectation. one reason is that this time no one is, or expecting major changes. >> the main opposition candidate has aha position himself as the best person to move against her, but now he is faced with an inability to take it to the second

not a good day for spectators at a car race in brazil. we have now learned what caused this stadium to suddenly collapse. and president obama finding himself in an awkward position when he was confronted by some angry town hallers, many of them his supporters. we'll show you how the president responded to this, for example. >> i'm one of your middle class americans, and quite frankly i'm exhausted, i'm exhausted of defending you, defending your administration, defending the man of change that i voted for and deeply disappointed with where we are right now. doing t shipping. man, it would be a lot easier if we didn't have to weigh 'em all.

and then you've got country likes brazil and indonesia and so on, right. in the world that is developing, a country like mine, and even in a way a country like yours, you need these alliances in order to be able to exercise power and influence and get weight for your views. when i say to people of the uk, the population of china will grow next year by roughly the entire population of the uk, wow. when you say to them india will produce more civil engineers next year than the whole of europe put together. when you say we got a debate in uk whether to build another runway at heathrow. china is going to build 7-0 new international airports in the next 10, 15 years. what we've got to understand is the scale of this. you know, what will go on in china is an industrialization that is about four times the size of that of the u.s. and about five times the speed. now that's what is going to go on. and for all of us, we were brought up with european or western governance, really. for the last not just 100 years, the last several centuries. history was written throug

russia india and china are all rising brazil is probably the hottest most quickly rising country right now. is it emerging center of power so that would then would have to i think a broad context of american unipolarity things are changing and they're changing rather rapidly so so the short answer b.s. international power structure is changing and will the west ever become for civil with brushes ambitions to increase its influence in global economic and political a fast i think is going to be a fairly slow process there's still a trust gap a trust a gap between russia and the west wing russia and the u.s. even met with president obama but russia is still not very popular on capitol hill in the u.s. congress there are broad segments of the american political system which still don't trust russia so that i think it will take years of russia maybe a decade being a reliable energy supplier to europe no more ukraine disruptions it will take. some years of russia working together on iran on the major nonproliferation problems i think it is it an issue that can be overcome the that i think tr

>> in brazil. >> right. she's given a lot of different reasons. you know, her runaway note was reason. then the reasons have been evolving over time over the last two weeks. >> where was that runaway note found? and what did it say? >> it was found in her drawer the next morning when i noticed that her things were gone also. and it basically said momma's going to die and then i'm going to get sent to florida. and then die is going to die and then i'm going to skip out now. >> that must have been incredibly disturbing to read this note and to find out she had actually gotten on this airplane and flown all the way to south america? >> you have no idea. it's like losing a child. i mean there's an empty space here. and inside of me. and it really is like losing a child. i mean i know that she's alive. but she's 15 and i don't have the daily interactivity with her. she needs to be in school. >> where did she get this fake passport and the money to get to brazil? >> i would like to me myself. i would like to know who has access to these types of things

brazil has that kind of we don't quite trust unlike russian politics. he probably won a we a couple weeks for to get a little bit weaker and then picked up shares. >> you're always a little shaky about investing internationally unless you really know what you're doing. >> i say hire the professionals or a get index funds to get the exposure. pitcher box is very sexy because as brazil and its oil >> was a fair price to pay for financial expert. >> he wanted to pay 0 percent to a fidelity advisor and then someone was offering him 1 1/2% and if you want inexpert someone who's going to get to know you've come your house and know you have kids in college planning needs and of a disease that runs in your family. he won a pay 1.25%. >> you have to pay for? >> or you can pay our lead but they tend to not commit to getting to know you will or plugging numbers and kicking it out. fidelity has three advisory which is for a cookie cutter think the right answer if your higher net worth spend the money get someone to get to know you if you're in a low net worth to yo

also within the format of the bric brazil russia india and china what is your opinion. do you think that they have a strong position as emerging economies. india and china. did. you get. natural resources. for the. people or prosperous peace that. brought to. the people of the region. you mention of course regional cooperation. yours is a country that knows of course a lot unfortunately about regional instability just like russia there are problems . do you think the region has a chance to be peaceful in the near future. hundreds of years. to be. a nation.

. >> charlie: for both chile and brazil? >> yes. it will become the first trading partner of the whole latin america. and i think the u.s. is missing opportunities. >> charlie: because they are doing what? >> they -- i don't think that they have -- or put enough attention to lat inner america. in terms of free-trade agreements there are many latin american countries that would like to reach a free-trade agreement with the u.s. which is beneficial to both parties and i think that the u.s. is not moving fast enough -- >> charlie: because of the political issues in the congress? >> yes, because many times we are waiting for the next election. for instance now nothing can happen because we are expecting the november election and i think that the u.s. could do a better job vis-a-vis latin america -- and i'm not talking about aid, i'm talking about partnerships, about facing together the challenges of development in the future. i heard the speech of president obama at the millennium summit. >> charlie: right. >> and i think the speech is

brazil's government will use reserves to buy itself $43 billion in stock. the shareholders will pay cash. the offer will dump money into the company for the largest oil exploration ever. the program makes his company a major exporter of oil. the people who try to get you to buy gold coins still realing for the tongue lashing they took in washington. some members of congress want gold sellers regulated. they said gold selling ads sell on fear, lies and rip offs and encourage people to buy when prices are up. gold sellers often try to sell gold coin instead of straight gold because the coins only have 1/10 as much gold. legislation would force sellers to disclose that to buyers. >> one of the richest people in america will be lighter for a good cause. mark zuckerberg announcing that $100 million donation to the newark still district in new jersey, believed to be the largest donation he ever made. yesterday foeshs magazine reported the 26-year-old has a net worth of billion was dollars. recently two men who are also in the top 10 on the list, bill gates and pa

>> number one is brazil. brazil means sexy, it means sultry, it means beach. the best place to start is on the emerald coast of brazil. so you're going to be going there. one of the most romantic properties in the world a couple of years ago, and you fast forward to one of the most beautiful natural wonders in brazil and you're going to be staying at a property call. you're going to be two minutes from these incredible falls, 275 of them, 300 feet drop. >> so number one, brazil. just digest all of this. number two, we're going to the heart of southeast asia. >> beer going to thailand, and where is thailand, right there. thailand is called the island of smiles. you're going to be stay agent the ritz carlton property, it's a brand-new kind of briritz carlton. business or first class. i have to tell you this property you're going to be staying in is larger than my apartment in new york city. and you're going to be getting ten hours of spa treatments while you're there and you're going to be riding an elephant. >> oh, my god. >> there's the elephant. they're reall

. >>> coming up next, more than 100 people hurt with some bleachers gave way in brazil. i'm done with all these lists. and driving all over town. i want one list. for one store. [ female announcer ] at safeway, you get it all. great quality and great prices. so you just need a safeway list. [ male announcer ] with thousands of everyday low prices you'll save all over the store. [ female announcer ] with club card special like honey bunches of oats just 2 for $5 and ovenjoy round top breads only 89 cents. [ male announcer ] quality and low prices. so there's one stop for evything. [ female announcer ] at safeway, that's our promise. that's ingredients for life. >>> more than # 100 people were injured when a set of bleachers collapsed in brazil. the crowd was there to watch a race on sunday. officials say abou 200 people were on those bleachers when it went down. six people taken to hospitals. some of them in serious condition. >>> rush ho traffic came to a complete stop in atlanta when a small plane landed on an interstate highway. the plane me an emergency landing on int

. >> the weakness is firsthand the growth of brazil, for example, as agrege economy. i will say biggest threat for the united states is not that we come in to north america, it's becoming the new america in the global economy. which we have to be competitive, we have to be innovative. we have to be aggressive and we have to be fearless in terms of going after the international -- >> but -- wait, what's the prescription for that. because, for example, when people can outsource 40 or $600 a week job get it done in india for $a week not going to cut american wages even with immigration. [all talking at once] >> one at a time and it's me right now. how can we possibly compete when all our manufacturing for economic reasons has to be exported? >> it's simple. let's go bay back to detroit since you brought it to the detroit. what happened to detroit. auto industry lost their creativity. and they got themselves in to a political and economic model that was not innovative was putting that down new energy. what happened, brazil and china did not caught up with it. >> further g

at the expense of other countries such as brazil and perhaps such as europe so do you think governments will actually find a solution that could work you know cross borders or is this going to escalate i think it's inevitably going to escalate we may actually see some of that as the next g. twenty summit which is due to take place in korea in november i think currency and currency wars if you like to use the brazilian term i think certainly will be on the agenda i think that governments really don't have any other option and they don't have any other strategies that they are increasingly resorting to try and use their currency to get out of this problem so we're going to hear an awful lot more about currency battles in two thousand and eleven now if we turn to the rebuttal it's down against the euro it's down against the dollar it's not performing very well why is that well investors are effectively sidelined russia since the mid summer i think since the drought the smog and the concerns that that's raised about rising inflation and we've already had a number of growth forecast reductio

he has taken brazil, he has pushed brazil is eye gantally and also with using some leftish... he's spread wealth. he's conquered the problems of inequality through aggressive social programs. here's a guy who they in terms of the number of people he has enriched, whose lives he's made better in latin america should be a complete hero. it's a tragedy he isn't seen as a bigger figure. the number of people he's brought forward compared to the number chaves has it's like giant stadium on one side and a small room with one person in the other. >> rose: john micklethwait from the "economist," editor-in-chief. back in a moment. stay with us. >> rose: we continue with john burns of the "new york times." after years of reporting from iraq, bosnia, and china, the pulitzer prize winning journalist is the london bureau chief of the "new york times." he's here in london to talk about the challenges facing david cameron's new government, iraq and its special relationship between the united states and the u.k. as well as tony blair and his memoirs. i'm pleased to have an old friend on this b

bleachers collapse at brazil sending hundreds of peck taketors tumbling to the ground. >> remembering a man who gave his life for his country 42 ?o?oxw?w?oó [ woman on tv ] if you won't let min, you can't really lovee. i know about gayle. don't know what you're talking about. if you just tell me what happened... [ ding ] [ man ] 35th a archer. next stop hamilton. ♪ [ male aouncer ] now you can watch hit tv shows on your iphone when u get at&t u-verse tv. at&t. rethink possible. woman: did you bring the camera phone? man: iid. do you wan go first? i've been waiting for th all day. ok, this is from... aunttacey. introducing chase quickdeposit. justhotograph the front and back of your check using the che mobile app on youiphone, and hit send. it wenthrough. this is so cool. this is so cool.yea. you oknna try it? all right. who's next? make a deposit om anywhere, anytime-- with your iphone. to mister and miss walker. om anywhere, anytime-- why would they sendmy paren? che what matters. ♪ awful scene in brazil and experts on the way from to figure out what bleachers collapsed during a

to focus on parts of the economy merging market world that do have strong domestic stories such as brazil india china and turkey in particular and in eastern europe russia has been ignored you can see it in the equity market it's no starting to weigh on the downside from the global emerging markets of the same of the currency markets so i believe it's a temporary move. now is is very cheap even relative to the weak fundamentals we have. so i think once we get turned a corner a big upside we probably need to see more confidence in global markets before we see that upside and i believe it will come strong before the. russian equity markets finished higher on thursday poit by gains in global markets later in the session at the my six high of the tb finished more than three percent in the black well put on two and a half percent energy majors also outperformed. finish one and a half percent. talks on russia's session to the world trade organization are expected to be. in the next few weeks that's according to top officials in moscow but prime minister putin has acknowledged that membership ma

in brazil state run oil company petro brass has raised seventy billion dollars in the world's largest share offering the money will be used to develop gigantic offshore oil reserves discovered during the past three years by the company in two thousand and nine petrol cross was the most profitable company always knowing hundred latin american firms. now russia offers tremendous potential for carbon trading that's according to a group of international experts who've gathered here in moscow to discuss the possibilities for developing the market one some say could be worth living two and a half billion dollars a year but in a question about has the details. carbon trading was one of the key elements for reducing greenhouse gas emissions to greet and vicki od a product called russia was the last to ratify the product which came into effect in two thousand and five and to the trading system of government and permits to companies to a certain volume of greenhouse gas if a company then once to invent more c o two equivalent than it can buy the right from in another company that will emit less

plus brazil. russia india and china all the brits laying a new foundation for the world economy that's in twenty minutes on t.v. business. it's good to have you with us this is a lie from moscow parliamentary elections in afghanistan have been mobbed by militant attacks on threats of more violence from the taliban several people are reported killed in separate incidents across the country while there have also been rocket attacks in kabul and jalalabad. has more from the afghan capital. we're at one of some six thousand polling stations across afghanistan and as you can see behind me a relatively reasonable turnout there have also been no reports of violence at this particular station so far this is probably because we're in the capital city of kabul where really should be speaking the situation is a lot calmer and a lot safer than it is on some of the regions where more than one thousand four hundred stations have been forced to close the doors because of it's on the telephone with the polls open

in the russia even if it is a democracy also things like going to the better these days and again to brazil for example was a period for active people for the not only because of the year. it's a be potential of companies but those that they have made little progress in terms of. it's a market valuation and so on. in russia in these in the attractive market but i agree with you that if we see more for the coming years it will be better but i think it will come just as they seem to be that we could stop at the technical to show off and try to do it thank you very much and good you'll be back next time. artes make poor porting right live from the international investment forum in sochi thank you very much for this indeed. and in all the news coming from the event russian state corporation russian technologies and boeing have signed a contract to supply fifty five and seven three seven airplanes they will be quiet for air flights russian airlines and also a unit of russian technologists from invest has signed agreements to form direct investment funds totaling eight hundred million dollars wit

a bus with nearly thirty passengers on board has been hit by a freight train in brazil killing at least nine people for the fifteen were injured when the train smashed into the bus and drifted along for almost one hundred meters an investigation has begun police believe the bus driver missed the stop sign. us soldiers have been charged by a military prosecutors with murdering the afghan civilians and mr layton corpses they're accused of gruesome crimes including stabbing and stabbing the dead bodies and taking pictures of them one of them even allegedly kept the bones taken from his victims seven others are charged with conspiracy of a cover up of the man where members of a brigade operating in southern afghanistan over the last eighteen months. well that's all from us for the moment but to forget we'll be bringing you full live coverage from the global policy forum here in the russian city of throughout the day every hour we'll be talking to the people trying to come up with the olds as to the big questions being posed to you and of course we'll bring you all the other news. across the

at the expense of other countries such as brazil and perhaps such as europe now if we look at quantitative easing one of the problems created by this method of increasing the quiddity within an economy well yeah and we expect to hear more of that today in fact and us as the fed chairman bernanke he addresses congress is expected to outline another round of easing to come no doubt has the effect of increasing the money supply in a country that then we can stick currency which can help boost growth which is why governments are doing it but the long term effect of the medium term effect is that it does increase the money supply and therefore it risks huge inflationary pressures down the road and this is what economists are particularly afraid of is that you know once to survival takes hold perhaps next year or maybe you wouldn't even months were gone for a minute to massive inflation problems which could then halt that revival in the meantime of course the specific concern concern is about what we call stagflation where you actually have no growth but you have inflation and that you like that

with nearly thirty passengers on board has been hit by a freight train in brazil killing at least nine people further fifteen were injured when the train smashed into the bus and dragged to the old almost a hundred meters an investigation has begun police believe the bus driver missed the stop sign. well that's all from us for get we'll be bringing you a full load of coverage from the global policy forum here in the russian city if you have a day and every i will be talking to the people trying to come up with the old so as to be big questions being posed here and of course we'll bring you all the other news updates from russia across the world in a few moments we'll get the latest business news. from our moscow studio stay with us. this is mara region is economically and socially one of russia's better developed provinces the region has a significant scientific and industrial capacity that will realize its full potential after the construction of this you go to a valley i t far can tell ya he has completed the id particle has r. and d. projects in the spheres of automotive constructio

to focus on parts of the economy merging market world that do have strong domestic stories such as brazil india china and turkey in particular and in eastern europe russia has been ignored you can see it in the equity market it's no starting to weigh on the downside from the global emerging markets of the same of the currency markets so i believe it's a temporary move. now is is very cheap even relative to the weak fundamentals we have. so think once we get turned a corner a big upside we probably need to see more confidence in global markets before we see the ropes i believe it will come strong before the. russian equity markets finished higher on thursday poised by gains in global markets later in the session at the my six high of the tb finished more than three percent in the black well put on two and a half percent energy majors also outperformed. net finish one and a half percent higher. talks on russia's session to the world trade organization are expected to be. in the next few weeks that's according to top officials in moscow but prime minister putin has acknowledged that membersh

survey is set to unveil how their products are wreaking havoc in afghanistan we visit a couple brazil where former policeman are doing time for drug abuse and small boy . security is being tied in across the north of india as a country awaits a court ruling on whether a religious side belongs to hindus or muslims they support this feud has already taken thousands of lives. last week the un general assembly was packed with journalists gathered to cover speeches from world leaders when the biggest countries left the stage so did the media leaving over one hundred nations talking to empty seats. many russians will remember of the summer of twenty tana's one of flick to buy scorching raging wildfires and choking small necks a country's emergencies minister sergey tells r.t. what lessons were learned from this bitter experience. of putting in the rest of. hello mr sze goo thank you for your time this summer russia faced great forest fires and some are still raging why do you think it all happened on such a scale. when washed up. and those are the key reason for all this of course is the re

japan and russia zaki and is one of the country's world's first regions but the unique wildlife from brazil things is what makes it a truly mesmerizing place. to explore. ati's russia closeout team is back and this time we're seven thousand kilometers from the russian capital moscow in the russian far east in the island. this is the soccer in region one of the most prosperous in russia located around four hundred kilometers from the russian mainland and separated from the russian mainland by they are straight it is quite a big island one thousand kilometers from north to south and about three hundred fifty kilometers from west to east it represents the region a very rich in terms of biological resources now the island of cycling that's home to more than a thousand species of birds and animals as well as flowers and plants and more than a third of them are considered to be endangered and are placed in the so-called red book of endangered species now of course all this beauty to be protected somehow and we did a report explaining what this protection is like in the far east of russia. risking

at the expense of other countries such as brazil and perhaps such as europe so do you think governments will actually find a solution that could work you know cross borders or is this going to escalate i think it's inevitably going to escalate we may actually see some of that as the next g. twenty summit which is due to take place in korea in november i think currency and currency wars if you like to use the brazilian term i think certainly will be on the agenda i think that governments really don't have any other option and they don't have any other strategies that they are increasingly resorting to try and use their currency to get out of this. so we're going to hear an awful lot more about currency battles in two thousand and eleven now if we turn to the ruble it's down against the euro it's down against the dollar it's not performing very well why is that well investors are effectively sidelined russia since the mid summer i think since the drought the smog and the concerns to that's raised about rising inflation and we've already had a number of growth forecasts reductions from gov

across brazil took a probable because russia simply documented in the presidential decree what is required from russia and all the other states in relation to iran after the adoption of the un security council's new resolutions russia refused to deliver the s. three hundred surface to air missile systems to iran in support of this resolution and russia remains opposed to any unilateral sanctions against tehran resolutions adopted by the un security council a binding but they need to be turned international laws because they are not direct application documents within countries legislation it's a further measures regarding terror and were discussed at this week's ministerial meeting in new york of the un security council's five permanent members plus germany on the iranian nuclear problem yes we in china brought this issue up once again which if we work jointly and if our western partners continue to say that it's necessary to maintain a consolidated position on iran we need to decide whether we can have a consolidated position on all issues or if the security council should be used to achi

to focus on parts of the economy merging market world that do have strong domestic stories such as brazil india china and turkey in particular in eastern europe russia has been ignored you can see it in the equity market it's no starting to weigh on the downside from global emerging markets and the same with the currency markets so i believe it's a temporary move. now is is very cheap even relative to the weak fundamentals we have. so i think once we get turned a corner a big upside we probably need to see more confidence in global markets before we see that upside and i believe it will come strong before the. russian equity markets finished higher on thursday void by gains in global markets later in the session at the my six high of the t.v. finished more than three percent in the black well spent i put on two and a half percent energy majors also outperformed. net finish one and a half percent. talks on russia as a session to the world trade organization are expected to be. pleated in the next few weeks that's according to top officials in moscow but prime minister putin has acknowledge

. >> charlie: for both chile and brazil? >> yes. it will become the first trading partner of the whole latin america. and i think the u.s. is missing opportunities. >> charlie: because they are doing what? >> they -- i don't think that they have -- or put enough attention to lat inner america. in terms of free-trade agreements there are many latin american countries that would like to reach a free-trade agreement with the u.s. which is beneficial to both parties and i think that the u.s. is not moving fast enough -- >> charlie: because of the political issues in the congress? >> yes, because many times we are waiting for the next election. for instance now nothing can happen because we are expecting the november latin america -- and i'm not talking about aid, i'm talking about partnerships, about facing together the challenges of development in the future. i heard the speech of president obama at the millennium summit. >> charlie: right. >> and i think the speech is right, but i also remember when president bush, the father, said th

across brazil took a total but russia's simply documented in the presidential decree what is required from russia and all the other states in relation to iran after the adoption of the un security council's new resolutions russia refused to deliver the s. three hundred surface to air missile systems to iran in support of this resolution and russia remains opposed to any unilateral sanctions against tehran. adopted by the un security council a binding but they need to be turned international laws because they are not direct application documents within countries legislation it's a further measures regarding terror and were discussed at this week's ministerial meeting in new york of the un security council's five permanent members plus germany on the iranian nuclear problem yes we in china brought this issue up once again which if we work jointly and if our western partners continue to say that it's necessary to maintain a consolidated position on iran we need to decide whether we can have a consolidated position on all issues or if the security council should be used to achieve the max