Russia is now a member of World Trade Organization (WTO) and of the Eurasian Customs Union between Russia, Belarus and Kazakhstan. Questions remain over how this new global and regional integration will affect the competitive environment of the Russian banking services industry. 

The decision of the Japanese Government to purchase a number of the Senkaku/Diaoyu islands from their private owner sparked fury in Beijing. Such spikes of fever between China and Japan are not without precedent. However, the gravity of this latest episode raises the question of whether a point of no return has been reached in the Sino-Japanese relationship.

In the Democratic Republic of the Congo (DRC) 32 years of dictatorship and almost ten years of war have bled the country dry and left its administration incapable of providing the population with basic services and the government incapable of applying or even formulating public policy.

Last week Centrica announced having signed a three-year gas supply contract with Gazprom Marketing and Trading UK entirely priced against UK spot gas market (NBP). This move follows other announcements in the sector, such as EON long-term gas supply contracts renegotiation, which allowed it to almost double its net-profit forecasts for 2012, or BP intention to sell Shaz Deniz II gas with spot-indexed contracts. All major European suppliers have been able to renegotiate long-term oil-indexed contracts with Gazprom lately and, more generally, contracts are increasingly being based on some spot-indexed price formula. How could that happen and what does it mean?

The European coal industry is at a crossroads. The European Commission (EC) Energy Policy by 2020, the 20/20/20 targets, is not favourable to coal:

a 20% decrease in CO₂ emissions does not favour coal compared with natural gas, its main competitor in electricity generation;

a 20% increase in energy efficiency will lead to a decrease in energy/coal consumption;

a 20% increase in renewables will displace other energy sources, including coal.

Japanese firms are increasingly involved in various global business operations - not only in traditional international trade in goods, but also in offshore production and the new mode of globalization: offshore outsourcing.