EBRD annual meeting opens in Zagreb

Annual Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) and the accompanying business forum will be held in the Croatian capital Zagreb on May 14-15 under the title "Building a sustainable growth." Activities will focus on support during the post-crisis recovery regions in which the bank operates. The Forum will open the Croatian Prime Minister Jadranka Kosor and EBRD President Thomas Mirow. Special guest of the event will be the European Commissioner for Economic and Monetary Affairs Oli Rennes. The EBRD is the largest international financial institution with headquarters in London, established for the development of market economy in transition countries, conducts operations in various sectors of the economy and business in 30 countries in Central and Eastern Europe, CIS and Central Asia. Meeting of the Governing Council One of the major issues on the agenda of the Governing Board of the bank will issue Bank's capital increase to 30 billion euros from the current 20 billion euros. In early May, head of European bank said that the Bank's shareholders had no objection to that. Consequently, all 63 countries, the EBRD's shareholders at the forthcoming meeting of the Board of Governors is likely to approve plans to increase capital. Management of the Bank in 2009 to initiate discussion with shareholders about the possibility of increasing the share capital of the Bank by 50% in the face of rising business activity and the need for more effective conflict risks. It is expected that with the approval of a capital increase Bank in the year 2015 will maintain the annual volume of its investment activities on the level 8,5-9,0 billion euros. In 2009, the EBRD's investments amounted to a record in the history of the bank 7.9 billion euros. Management of the Bank at the upcoming annual meeting of the Board of Governors also intend to take the initiative to encourage investments in local currencies (Local Currency Initiative) in the region of operations of the bank. As told in early May, President of the EBRD, the initiative makes the post-socialist countries with economies less dependent on foreign direct investment and capital flows across borders, as well as fluctuations in world currency markets. Earlier, the EBRD took the line to increase financing for their projects in different countries in local currencies and issue loans, denominated in national currencies. Business Forum The event will be held three plenary sessions: "Opportunities for investment in new enterprises," "projects of infrastructure development and environmental protection", "projects and opportunities for tourism development." At the same time during the forum, its plenary meetings and individual sections will be discussions on a variety of topics. One of them is indicated in the materials EBRD, dedicated to the annual business forum, as "After the crisis. On the road to recovery." "Leading economists and policy makers analyze the nature of the financial crisis and its impact on the region of the EBRD and the lessons emerging from the crisis - the document says the bank. - Will examine the situation in the region and assessed the prospects for economic recovery." The main issues for discussion will help the international financial institutions (IFIs) during the economic recession, the politicians of various countries and MFIs to ensure stable and sustainable economic recovery. Another topic for discussion, forum participants will recover a debt in an economic downturn. "The ability of a creditor to exercise their rights by force is crucial to the viability of credit systems and market economics - said the EBRD in the materials. - The global economic crisis and financial difficulties faced by many banks and customers have put forward this issue to the forefront." The discussions will be the policy of financial institutions in respect of credit default loans and other troubled corporate debt. The discussion touches an important role in shaping the legal framework of institutional measures aimed at meeting the needs of clients, with emphasis on the practices used in countries with economies in transition. At the forum, we will talk about the development of capital markets. As part of this topic will be discussed and a number of very specific questions. For example, how to clear the balance sheets of banks and enterprises to revive lending, what obstacles stand in the way of corporate debt restructuring, recapitalization, what are the necessary volumes of whether the regulatory system to mitigate the effects of future credit booms and retard the growth of borrowing in foreign currency and others. Another topic for discussion will be the rise of the corporate sector and the struggle for the return of investment. The main issues raised for discussion: whether the company survived the global financial crisis, or worse yet to come, as enterprises can regain the interest of strategic and financial investors since the crisis, how can be restructured corporate debt, what role can and should play a state in areas such as promoting the rise of the corporate sector, investment in infrastructure and changes in the investment climate and others. The next topic for discussion is the reduction of carbon emissions. Questions for discussion: what is the potential role of the carbon market in the region, the EBRD, and what effect will a low carbon economic growth, how to fund these transactions and what are the implications for the sectors in which the EBRD invests. Be discussed and the topic of energy security. It occupies the top spot on the agenda of international politics - says the EBRD. - Production and consumption, supply and demand - these simple economic formula conceals a complex reality of the problem of energy security in Europe. " Economic and political interests together when consuming countries seek to ensure diversification and security of supply, and producing countries try to achieve steady sales and prices, says the bank. This discussion will be attended by senior representatives of the various links in the chain of suppliers and consumers who will discuss this politically relevant and at the same time complex and sensitive topic. During the business forum will take place and the "round table" of Mayors. Heads of the leading cities in the region, where he works EBRD, will lead a conversation about the social impact of economic crisis. Forums country By tradition, the annual business forum of the EBRD will be held presentations of each of the countries in which the EBRD operates. Appropriate action will take place in Russia on May 15 from 9.00 to 10.30 (11.00-12.30 Moscow time). According to the forum, the presentation will take part the deputy head of the Department of Economic Development Investment Policy Dmitry Kvitko.

Price per barrel of OPEC oil April 20 rose to 81.8 U.S.

Price of oil OPEC basket (OPEC Reference Basket of crudes) on Tuesday, April 20, rose to 0.94 U.S. dollar - up to 81.83 dollars per barrel to 80.89 dollars per barrel to 80 previous trading day should be from the message of the organization. In March 2010 the average price of a barrel of OPEC oil was 77.21 dollars, in February - 72.99 dollar in January - 76.01 dollars per barrel. Record prices of the basket was set July 3, 2008 - 140.73 dollars per barrel. The average price in 2009 was less than half - 61.06 dollars per barrel. In March 2008 the "basket" has been expanded to 12 varieties of oil at the expense of Ecuador. Thus, the current price of OPEC basket is determined by the average of the prices of the following sorts of natural oil produced by countries in the cartel: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and BCF 17 (Venezuela).

Exchanges in Asia on Wednesday closed at increasing accountability Apple.

Leading stock markets in Asia finished bidding environment of strong growth in the reporting of U.S. IT-giant apple Inc. and manufacturer of computer equipment Elpida Memory Inc., reports Bloomberg. Total Asia-Pacific index MSCI Asia Pacific (including Japan) to the closure of key areas of Asia and Australia on Wednesday rose by 1.1% to 127.37 points. The enthusiasm of investors across Asia has caused the financial results of apple in the first quarter of 2010, published on Tuesday night. Net income in the period rose to 3.01 billion dollars. "Profit Companies (who have published their financial statements) has exceeded expectations. Recovering really started and will show itself more clearly, despite the risk of worsening debt problem" - lead agency comment analyst and head of Ausbil Dexia Ltd.Pola Ziradisa (Paul Xiradis). Stock market in Japan, rich in shares of companies producing high-precision products, on Wednesday shut down growth. Nikkei 225 Index, which reflects the dynamics of the shares of the largest companies traded on the Tokyo Stock Exchange, on the basis of the trading day grew by 1.74% to 11,090.05 points, having played earlier in the week lost psychologically important mark in 11 thousand items. At the same time the broader Topix rose by 1,54% - to 987.07 points. Meanwhile, China's stock market on Wednesday returned to growth. The attention of investors during the first two trading days of the week, dropping shares of Chinese companies after the news of tightening credit policy, the action shifted to the nation's largest producers of semiconductors. According to data posted on the site exchanges, the index of Shanghai stock market (Shanghai Composite Index - SCI) on the basis of trading on Wednesday, grew at 1.80% to 3,033.03 points, having played thus psychologically important level of three thousand items. At the same time, the index showing the dynamics of transactions on the second largest stock exchange in mainland China in Shenzhen (SCZE Component), increased by 2,74% and closed at 1,211.65 points. Stock Exchange of Hong Kong, meanwhile, by contrast, has completed the bidding environment in the red zone on the growth of investors' concerns about increasing inflationary pressures on the economy. Hang Seng index during the day sank 0.52% to 21,510.93 points. Meanwhile, a strong corporate reporting of U.S. companies led him up and the stock market in South Korea. According to information posted on the official website of the Stock Exchange of Seoul, a key index KOSPI (Korean Composite Stock Price Index) grew by 1.72% - up to 1,747.583 points. Growth also showed Singapore and Australia. A key index of the Singapore Straits Times Stock Exchange rose by 0,72% - to 2982.09 points, and the Australian S & P / ASX 200 added 0.58% to 4,954.30 points.

France will allocate 3.9 billion euros from the budget through the assistance of Greece.

France in 2010 to allocate 3.9 billion euros from the budget for credit in Greece within the framework of aid a country burdened with debt, according to Agence France-Presse citing Economy Minister Christine Lagarde. Statement Lagarde sounded in the meetings of the delegations of the European Commission, European Central Bank and the International Monetary Fund, which opened earlier on Wednesday in Athens. "We will submit the draft to the National Assembly (lower house), May 3-4 and May 6-7 - in the Senate" - lead agency words Lagarde. Eurozone countries and the IMF promised to Greece to 45 billion euros in the first year under the percentage below the current market, in order to help the country overcome the severe debt and budget crisis. The Greek Government has requested further talks on how such assistance will affect the three year program of fiscal stabilization. As noted by analysts, the talks will take place in a relative hurry and will take two to three weeks, since the uncertainty in the credit support of Greece severely impact the country's ability to refinance its more than 300 billion of debt. Markets have already been punished Greece a record yield of its debt because of the two-day delay in the negotiations. Until the end of May to Athens to take in about 10 billion euros to pay for current obligations.

In Catholic churches around the world are the funeral Mass for the dead in plane crash .

About the victims of Polish citizens praying Pope - Benedict XVI. In Catholic churches around the world are the funeral mass. The mourning began to worship and in the Moscow Church of the Immaculate Conception of the Blessed Virgin Mary in the Little Georgia.

Living in the Russian capital coming to the building of the Polish Embassy to lay flowers. Anyone can sign a book of condolence.

Tomorrow in Russia - the day of national mourning. He has been declared and all institutions of the European Union - on the buildings in Brussels on April 12 will be half-mast flags.

By the dead and mourn in Brazil, where he lives fairly sizeable Polish community - there mourning will last for three days.

In Poland, will announce two minutes of silence in memory of those killed in plane crash near Smolensk.

Poland today would die in silence. The country will be announced in two minutes of silence. Began one week mourning for the dead. Accident near Smolensk rallied people to memorial services are thousands of parishioners.

In Poland - second day of national mourning for the dead in plane crash near Smolensk. The walls of the presidential palace laid a carpet of flowers and candles.

People carried flowers and lit candles all night. One of the major streets of Warsaw - Cracow - turned into a stream of people. On large screens broadcast images of those who died in the crash.

Suzanne Buyach: "For me, the death of President Lech Kaczynski, MPs, military leaders - the tragedy of the whole nation. We lost nation's elite. And regardless of rank and position, we grieve for each one of them."

Portraits Lech Kaczynski and his wife, who died of deputies of the Saeima, public figures and military leaders went into mourning frame on the front pages of all Polish publications.

At noon, stopped traffic and pedestrians, stop manufacturing plants - so the country holds its breath, observed a moment of silence in memory of those killed in a plane crash near Smolensk.

In accordance with the Constitution of Poland after the tragic death of President Lech Kaczynski's head of state powers transferred to the Speaker of the Sejm Bronislaw Komarovsky.

Bronislaw Komorowski, chairman of the Parliament of Poland: "Fellow citizens, friends, relatives. In accordance with the Constitution of my country, I like the Marshal of the Seimas, take over the presidential duties.

My problem now - in two weeks to announce the date of the new presidential elections, in turn, since the announcement to the will must take place no more than 60 days. What I intend to do, after consultation with all political parties.

Under current legislation, an early presidential election should be held within ten days after the date of announcement of elections. Thus, the name of the new head of state will be known in June.

It is unclear what will happen farewell ceremony with Lech Kaczynski. The only time until this moment in history, Poland has lost the head of state in 1922. , Was killed the first president of the republic.

Unemployment in the U.S. in March amounted to 9,7%.

The unemployment rate in the U.S. in March was unchanged from the previous month and amounted to 9,7%, the number of jobs in non-agricultural sectors for the reporting month increased by 162 thousand, according to data the Bureau of Labor Statistics U.S.. Thus, the rate of increase in new jobs in March was the highest since March 2007. Analysts polled by internet portal dailyFX.com, predicted that the number of unemployed in relation to total working age population will remain at 9.7%, and the economy, excluding the agricultural sector, will create 190 thousand new jobs. The report indicated that the number of jobs in non-agricultural sectors of the economy in January increased by 14 thousand, and in February, the economy has lost only 14 of thousands of jobs against the original estimate of 36 thousand. In October last year, unemployment in the U.S. rose to 10.2%, which was the maximum level for 26 years. On Thursday it became known that the number of initial applications for unemployment benefits in the U.S. for the week ending March 27 declined by 6 thousand - to 439 thousand, which coincided with the expectations of analysts. Also this week analyst firm Automatic Data Processing Inc. published data showing that the number of jobs in private companies, the U.S. in March compared to February fell by 23 thousand against expected by analysts to increase by 40 thousand. Finance Minister Timothy Geithner said on Thursday that the administration of U.S. President Barack Obama "very concerned" about the pace of reconstruction after the severe labor market since the Great Depression of the economic crisis. In an interview with NBC television Geithner expressed confidence in the gradual improvement in the labor market, as well as the fact that the economy will begin to create new jobs. " Nevertheless, Geithner noted that the U.S. unemployment rate will "remain unacceptably high for a very long time", explaining that "damage, which caused the recession."