Word: russia
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...case to be made that North American demand will approach 16 million units within five years. "We haven't seen this kind of positive force in replacement demand for this amount for a while," says the auto economist. And thanks to growing overseas markets like China and Russia, where GM is well positioned, industry growth outside the U.S. will be even greater...
Turkey is also key to E.U. plans to diversify its energy supplies - another objective that looks more urgent after the Russia-Ukraine gas battle in January that left people in some E.U. countries freezing and factories idle. Currently, the E.U. gets more than 40% of its gas imports from just one company: Russia's giant Gazprom. In addition, almost all the gas that comes to Europe from the resource-rich Caspian flows through Gazprom's pipelines. Yet the long-planned Nabucco pipeline - designed to transport Azerbaijani, Turkmen and, maybe one day, Iranian and Iraqi gas to the E.U. through Turkey...
...Western Europe—particularly Germany—have been reluctant to criticize the post-Soviet oligarchy (or “managed democracy”) that supplies them with vital natural gas. This divide has persisted even in spite of a recent announcement by President Dmitri Medvedev that Russia would embark on a massive new spending and modernization scheme for its outdated military. Therefore, a new energy security policy—one that effectively minimizes the risk of overt dependency on Russia while investing in alternative and renewable technologies—should be at the top of the agenda...
...home. Some 10% of Bangladesh's total GDP, and 16% of Nepal's, comes from the remittances of pools of unskilled laborers working in Malaysia and the Gulf states. The economic impact of remittances is even higher in Central Asia, where entire villages send their able-bodied men to Russia. Tajikistan, for example, draws more than a third of its GDP from remittances, and the country's economy will suffer badly as jobs in Russia...
...Obama told the press conference that he hoped his first meeting with Russia's President, Dimitri Medvedev, in the afternoon would address what Obama called "the drift in the U.S.-Russia relationship." "There are very real differences. I have no interest in papering these over," he said, adding that on the issue of nuclear nonproliferation, he saw one of the strongest areas of common ground...