Russia, Global Economy | featured news

Leaders of the five BRICS nations fueling global economic growth plan the creation of a development bank in a direct challenge to the World Bank that they accuse of Western bias.

As it tries to play Russia off against Europe to salvage its economy, Cyprus has embarked on a high-stakes poker game that could see almost everyone lose.

While malls appear to be past their peak in the United States, in Russia they are luring shoppers with money to spend, and investors like Morgan Stanley... Shoppers who find that 250 stores aren’t enough can go ice skating, watch movies or even ride a carousel, all under a single roof.

The economies of Brazil, Russia, India and China account for 20 percent of the world economic output, and rising. That’s up four fold in the last decade, according to a report released yesterday by the International Monetary Fund. Despite the growth, problems in the core economies had made the post-2008 world a difficult one for the big four emerging markets.

As his global teleconference broke up in disarray on September 11, 2001, a top economist at a U.S. investment bank began to ponder what the attacks on the United States might tell him about the future shape of the world.