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from Global Investing:

Russia’s starting blocs – the EEU

The course is more than 20 million square kilometers, and covers 15 percent of the world's land surface. It's not a new event in next month's IAAF World Championships in Moscow but a long-term project to better integrate emerging Eurasian economies.

The eventual aim of a new economic union for post-Soviet states, known as the Eurasian Economic Union (EEU), is to "substitute previously existing ones," according to Tatiana Valovaya, Russia's minister in charge of development of integration and macroeconomics, at a media briefing in London last week.

That means new laws and revamping regulation for "natural monopolies" in the member states, streamlined macroeconomic policy, shared currency policy, new rules on subsidies for the agricultural and rail sectors and the development of oil markets.

Kazakhstan and Belarus are the two other members of what is known as the Single Economic Space (SES), that is, the existing economic partnership between the three bordering countries established in 2012. So far Kyrgyzstan and Tajikistan  are co-operative members, Ukraine, Armenia and Moldova have been given observer status.

from Global Investing:

Corruption and business potential sometimes go together

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By Alice Baghdjian

Uzbekistan, Bangladesh and Vietnam found themselves cheered and chided this week.

The Corruption Perceptions Index, compiled by Berlin-based watchdog Transparency International, measured the perceived levels of public sector corruption in 176 countries and all three found their way into the bottom half of the study.

from Photographers' Blog:

The Soviet ticking time bomb legacy

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By Vasily Fedosenko

The Soviet Union collapsed overnight more than two decades ago. In Belarus, which suffered most in the aftermath of the Chernobyl nuclear disaster in 1986, the sudden demise of the nuclear superpower five years later left enough lethal legacy of other types to endanger the lives of several future generations.

In a forest near the village of Savichi, some 160 km (100 miles) southwest of Minsk, one of these Soviet-era time bombs is still ticking. Here, under a thin layer of ground, hundreds of tons of highly toxic Soviet-made pesticides are stored in leaky dumps.

from Global Investing:

Venezuela — high risk, higher yield

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Venezuela's Chavez with Lukashenko of Belarus

Which bond would you rather buy -- one issued by a country with an unpredictable leader but huge oil reserves, or one with  a dictatorial president as well as empty coffers? The answer should be a no brainer. Not so. The countries are Venezuela and Belarus, and a basic comparison of their debt profiles shows how strangely risk can be priced in emerging markets.

Venezuela's 2022 dollar bond yields 15.5 percent while the 2022 issue from state oil firm PDVSA trades at 17 percent yield. Venezuelan debt pays a 1200 basis point premium to U.S. Treasuries, according to the EMBI Global bond index.

from Photographers' Blog:

Chernobyl graves

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Every year Orthodox Christians in Belarus throng to local cemeteries to commemorate their deceased relatives and loved ones on the ninth day after Easter, following an ancient Slavic rite on a revered day called Radunitsa. They tidy up tombs and adorn them with wreaths, and bow their heads in somber silence.

But in the southeast of Belarus, people stream to a tightly guarded area surrounded by solid fences and barbed wire, where whole villages were evicted 25 years ago after being contaminated with deadly radiation spewed by a blown up reactor at the Chernobyl nuclear power plant in neighboring Ukraine.

from Oddly Enough Blog:

Care for some more folk vodka?

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BELARUS/

Blog Guy, you have access to news from all over the world, and you should do more to celebrate other cultures. As times change, we need to reflect on old values and traditions.

ethnographic still 300You're right. Today we'll have a look at an ethnographic festival in a village in Belarus.

from FaithWorld:

Pew measures global religious restrictions

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The Pew Forum on Religion & Public Life has come out with a new report that tries to measure, country by country on a global level, government and social restrictions on religion. You can see our coverage of the report here and here and can download the whole report here.

The report, which Pew says is the first major quantitative study of the subject on a global level, ranks countries under two indices -- one measures government restrictions on religion, the other social hostilities or curbs on religion that stem from violence or intimidation by private individuals or groups.

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