Business

The Governor of the Bank of England claimed that “nothing has been achieved” in the four years since RBS was rescued with £45bn of taxpayer cash and hundreds of billions of pounds of state guarantees. The bank is failing to support small businesses, he argued, and is retarding the recovery.

The current money market conditions and significant decrease in the banking system’s external debts are favorable for banks to start borrowing from the international capital markets, Newskaz.ru reports, citing the country’s Central Bank Governor Gregory Marchenko as saying at a press conference March 6.

A private collector has paid a world record Aus$495,000 (US$508,000) for one of Australia's first coins, known as the "Holey Dollar", AFP reports citing auctioneers.

Oil supplies from Kazakhstan to Belarus have to be jointly regulated by three countries of the Customs Union (CU): Russia, Kazakhstan and Belarus, RIA Novosti reports citing deputy Minister of Economy of Belarus Anton Kudassov.

Toyota will start producing batteries in Kazakhstan, Tengrinews.kz reports citing the Information Department of Kazakhstan Ministry of Industry and New Technologies.

Astana administration and VINCI Construction Grands Projets have signed a memorandum of understanding and cooperation in development of parking-construction sector, Interfax-Kazakhstan reports. The document was signed by deputy Akim (Mayor) of Astana Kanat Sultanbekov and Commercial Director for Central Asia Francois Chevalier, the press-service of Astana administration writes.

Jaguar Land Rover, the British luxury car unit owned by Tata Motors, is considering manufacturing vehicles from scratch in India, AFP says citing a report.

An $85 billion dollar austerity time bomb was to detonate against the US economy Friday, as President Barack Obama blamed a Republican refusal to compromise for a failure to avert "dumb" spending cuts, AFP reports.