June 15th, 2011
04:09 PM GMT
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June 15th, 2011
01:25 PM GMT
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Armenian export was worth 20% of GDP in 2000 but it is only 12% of GDP today; the trade balance is still negative.

Armenian Prime Minister Tigran Sargsyan says the Armenian economy is not sufficiently diversified and he wants to boost the country's industrial base.

He says promoting export is still a primary concern and he also discusses the country's complex relationship with neighbor Turkey.



June 15th, 2011
01:01 PM GMT
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Among the BRIC nations, which now includes South Africa too, Russia has a bad rap for its business climate.

It is enjoying the white nights or long days of summer, but it is not considered a bright light when stacked up against its peers.

In the latest World Bank "Doing Business" survey, Russia is at the bottom of the pile of BRIC countries , the bottom of the G-20 list and also in the broader rankings of the major industrialised countries.

CNN's John Defterios takes a look at Russia's economy and the restructuring plans set out by its political and business leaders.



June 15th, 2011
08:32 AM GMT
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(CNN) – When the International Monetary Fund announced the final candidates Monday for the top job, Israel’s Stanley Fischer was left off the list without comment.

But two IMF board members told Reuters that Fischer – a late entry into the race – was not considered due to rules that limit the age of candidates to 65, leaving only frontrunner French Finance Minister Christine Legarde and Mexico’s central bank chief Agustin Carstens.

To be sure, Fischer was a late-entry, dark horse candidate whose candidacy was announced just ahead of Friday’s deadline. Fischer’s dual citizenship with the United States always was likely to raise questions, since the managing director position has usually gone to a European (although emerging markets are now loudly calling for a change).

Still, supporters of Fischer hoped his age would be overlooked in consideration. "I hope they find a way around it, it's not a suitable criteria in this day and age," Yuval Steinitz, Israel's finance minister, told the Telegraph on Monday before the IMF announcement.

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