India and Russia agree to link South and Central Asia

In another sign that the world is truly changing, two old rivals are burying the hatchet. India, so often protected from Russia by Britain and her Empire is now cosying up to the Great Bear.

India's pet project to link south with central Asia has received vital support from Russian president Vladimir Putin. During talks in New Delhi, Singh and Putin agreed to open the north-south corridor through Iran in 2013.

Indian officials said they will help if Iran found it difficult to accomplish the task. The corridor is, by and large complete, they said, except for a section inside Iran between Qazvin-Rasht-Astara. The Iranian portion of corridor is needed or else the whole project could be up in smoke.

The agreement was signed by India, Iran, Russia and Oman in 2001. Iran has been uncooperative until now.

This would be a major breakthrough, as this could open up trade and many business opportunities for such a vast region, which up until now has been poorly served in terms of infrastructure and transport links.

Russian East Asia Pipeline Open for Business

Without too much fanfare Russia have just completed a very ambitious pipeline to East Asia. This has an impact on the EU as it signals Russia’s new world view which has a Pacific focus. The 21^st Century may be the Pacific Century and the USA and China are always mentioned, but everyone seems to forget Russia and her vast Pacific coastline.

Russian President Vladimir Putin commissioned the pipeline Tuesday with the completion of the 4,740 km-long (2,945 miles) East Siberia - Pacific Ocean (ESPO) section, which runs between the Siberian city of Skovorodino and the Pacific port of Kosmino.

The new section will "considerably increase the infrastructure capacity of the regions in Russia's far east," said Putin in a televised address. He called the commissioning a "significant event." The $25 billion (around 20 billion euros) pipeline carries some 30 million tons of oil annually, and is set to raise its output to 50 million tons per year.

Source: The Local (Germany)

Russia's massive traffic jams

I know that Sao Paulo is the world's most congested city, Athens has been often cited as Europe's worst, and that China have had the odd epic scene of gridlock.

However it looks like Russia is trying its best to take the title:

http://edition.cnn.com/2012/12/02/world/europe/russia-traffic/index.html

Moscow to be the next City of London?

Major firms in the City of London are backing a plan to develop Moscow as an international financial centre.

Blue‑chip names including investment banks Barclays Capital and JP Morgan, the Lloyd’s of London insurance market and law firm Freshfields, are involved in the programme that has the backing of Russian prime minister Vladimir Putin and President Dmitry Medvedev.

The use of City expertise to bring western standards of financial and legal governance to the Russian capital follows Prime Minister David Cameron’s visit to the country in September.

The project is spearheaded by TheCityUK, the independent British financial services promotion group whose chief executive Chris Cummings said: “We are delighted to have won this work and we have made a terrific start. It is a real feather in the City’s cap.”

Cummings said the medium‑term aim was to establish Russia as the regional financial centre for the Russian federation, and farther down the line to develop the capital as an international centre of finance.

Cummings admitted there was “initially” some scepticism in the City about the project, centring on old concerns about the “rule of law and political uncertainty in Russia”.

Source: http://www.scotsman.com/business/interviews/city_gets_behind_plan_to_create_international_financial_hub_in_moscow_1_1986885