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The latest business and finance news from around the world from the BBC


WBR: Putin Staff Face Austerity Salary Cut 27 Feb 15

February 27th, 2015

Episode 229 of 1091 episodes

Russian President Vladimir Putin is cutting the salaries of his staff by 10%. Moscow-based economist Oleg Buklemishev tells us it's a symbolic move and won't make much difference to public spending. Moscow bureau chief of the Economist Arkady Ostrovsky says Putin is using the war in Ukraine as a distraction from Russia's own ongoing economic problems. After a video purportedly showing the destruction of ancient statues in Iraq by so-called Islamic State, we ask Christopher Ratté from the University of Michigan how IS have sold other artefacts to fund their campaigns. Plus, many Indians are hoping for tax changes as finance minister Arun Jaitley prepares to unveil the Modi government's first full budget, the BBC's Sameer Hashmi in Mumbai tells us more. And we have our review of the week's news in business.

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