March 8th, 2012
02:28 PM GMT
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Russia is looking to become a major player for the Silk Road economies - in everything from energy to technology.

In 2010, Russia inked a customs union deal with Belarus and Kazakhstan to create a single market of 170 million people. It hopes the agreement will boost trade and investment between the three. Wanting to reap the benefits, Ukraine has even shown interest in joining the alliance.

But it's not just former Soviet republics - Russia continues to build relations with China. Exports to China grew from $2.9 billion in 1992 to more than $20 billion in 2010. China is hoping to strengthen the ties by agreeing to invest $1 billion in a joint fund between the two nations promoting cooperation on joint projects.

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Filed under: Business


March 8th, 2012
12:38 PM GMT
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London (CNN) – Greece’s private creditors will be frog-marched into taking a massive cut in the value of their investments on Thursday as the country again attempts to emerge from its financial hole.

After weeks of brinkmanship and last minute threats, Greece appears likely to force the deal on its creditors by invoking a collective action clause. The clause means creditors who want to hold out can be forced into the deal against their will.

Major creditors - including a committee of investors representing around 40% of the debt - have said they will participate.
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