360° Coverage : Russia bets on transport investment to boost growth

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Russia bets on transport investment to boost growth
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Russia bets on transport investment to boost growth

Feb 21 2013, 5:35am CST | by

Moscow, Feb 21 (IANS/RIA Novosti) Massive spending on transport infrastructure combined with measures to lure more foreign direct investment and improve the business climate could help boost Russia's flagging economic growth, First Deputy Prime Minister Igor Shuvalov said Thursday.

Moscow, Feb 21 (IANS/RIA Novosti) Massive spending on transport infrastructure combined with measures to lure more foreign direct investment and improve the business climate could help boost Russia'...

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1 year ago

Russia bets on transport investment to boost growth

Feb 21 2013, 5:35am CST | by

Moscow, Feb 21 (IANS/RIA Novosti) Massive spending on transport infrastructure combined with measures to lure more foreign direct investment and improve the business climate could help boost Russia's flagging economic growth, First Deputy Prime Minister Igor Shuvalov said Thursday.

Moscow, Feb 21 (IANS/RIA Novosti) Massive spending on transport infrastructure combined with measures to lure more foreign direct investment and improve the business climate could help boost Russia's flagging economic growth, First Deputy Prime Minister Igor Shuvalov said Thursday.

Russia is planning a 500 billion ruble ($17 billion) programme to clear bottlenecks from its overburdened road and rail networks to raise growth to the government's target of 5 percent, Shuvalov said in an interview with The Wall Street Journal.

"We need to move on this urgently," he said, adding the new programme would target key bottlenecks such as Moscow's roads and the limited railway links across Siberia to the Pacific Coast.

Russia's GDP grew only by 3.4 percent last year, the lowest since the deep recession of 2009, with weak demand for Russian exports in Europe and faltering investment.

Shuvalov called for more aggressive moves to sell off state assets to finance transport spending, saying the government could, for example, sell a small stake in Rosneft later this year once it completes its takeover of rival oil firm TNK-BP.

IMF chief for Russia Odd per Brekk said Wednesday the Russian growth model, which ensured the country's GDP growth by 5-5.5 percent a year before the global financial and economic crisis, had used up its potential and the country needed to boost investment to spur economic growth.

The government is pinning its hopes on an accelerated development plan prepared by the economics ministry for a period until 2030 to raise investment to 25 percent of GDP by 2015 and 27 percent by 2018, increase the share of hi-tech output in GDP and diversify away from raw materials production.

--IANS/RIA Novosti

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Source: IANS

 
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2 weeks ago

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WASHINGTON- A major US newspaper, Wall Street Journal (WSJ) says parliament in Pakistan has emerged as a winner from the months-long political crisis that also led to a sharp drop in Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan's approval rating. It said it was for the first time that the parliament stood up to defend civilian supremacy and the constituti ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
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2 weeks ago

Taylor Swift pulling her music from Spotify is equivalent to thumbing her nose at the fans

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Music streaming has become the norm. When did you last buy a CD or, gasp, cassette or album? And we will not even discuss the 8-track tapes. That made yesterday's news cycle a bit baffling. Artists should be falling over themselves for ubiquity, not heading towards obscurity. But some apparently simply don't get it. It has been revealed that Taylor Swift, a vastly popular singer, has pulled her music from Spotify. The ...
Source: BetaNews   Full article at: BetaNews
 

 
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2 weeks ago

HOUSE OF THE DAY: Massive Duplex Inside New York's Carhart Mansion Hits The Market For $35 Million

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Source: Business Insider   Full article at: Business Insider
 

 
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2 weeks ago

Is Samsung about to shake up Manhattan real estate?

Nov 4 2014 10:30am CST | Source: Albany Business Journal

Korean electronics giant Samsung appears ready to take up to 1 million square feet of new office space in Manhattan, a major expansion that would rival Conde Nast's commitment to One World Trade Center in scope, according to a report by the Wall Street Journal. Samsung could move into an existing building or work toward a new tower, the report said, and has contacted developers with Related Cos. about the Hudson Yards area, and the World Trade Center site. Howe ...
Source: Albany Business Journal   Full article at: Albany Business Journal
 

 
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2 weeks ago

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Source: Minneapolis- St. Paul Business Journal   Full article at: Minneapolis- St. Paul Business Journal
 

 
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2 weeks ago

EDIT: Music Sharing is Not Caring

Nov 4 2014 1:18am CST | Source: Daily Free Press

Ever since the dawn of Facebook partner Sean Parker’s now-defunct illegal music sharing service Napster, people have been less obliged to pay for music. Options for legal and illegal music streaming are an inevitable reality, but that doesn’t mean artists have to like it. On Monday, one week after the release of her fifth album, “1989,” Taylor Swift removed every one of her songs (except for “Safe & Sound” f ...
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2 weeks ago

Bill Gates Warns: The World Is Not Prepared For Epidemics

Nov 3 2014 7:27pm CST | Source: Business Insider

The Bill & Melinda Gates Foundation has committed $50 million to fight Ebola. That's a lot of money, but not when you consider what Bill Gates is spending to fight the preventable and treatable disease malaria: $200 million this year, reports the Wall Street Journal. Malaria struck down 207 million people in 2012 and killed 627,000, many of them also in West Africa, where Ebola has reached epidemic proportions ...
Source: Business Insider   Full article at: Business Insider
 

 
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2 weeks ago

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Nov 3 2014 3:50pm CST | Source: Business Insider

A study by the Wall Street Journal in 2010 showed that an average NFL game has just 11 minutes of actual action based on the amount of time the ball is actually in play. While a lot of other things do go on in between plays, that leaves a lot of time that networks must fill during a typical 3-hour broadcast. Well, according to Vox.com, most of that time is spent just showing players standing around and doing nothing. Dur ...
Source: Business Insider   Full article at: Business Insider
 

 
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2 weeks ago

Lithuania Has Made It Illegal To Sell Energy Drinks To Anyone Under 18 Years Old

Nov 3 2014 3:32pm CST | Source: Business Insider

On Saturday, Lithuania became the first country in the EU to ban the selling of energy drinks to anyone under the age of 18, according to the Agence France-Presse. The law, which was first adopted by Lithuania's parliament back in May, will make selling to minors punishable by a fine of up to 400 litas (or roughly $150). "It's a revolutionary development the world over: We didn't find a single other country to have this kind of ban," h ...
Source: Business Insider   Full article at: Business Insider
 

 
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2 weeks ago

 

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<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

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