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UPDATE: China and Russia to sign over a dozen trade deals

President Vladimir Putin is due to begin a visit to Beijing on Friday

President Vladimir Putin is due to begin a visit to Beijing on Friday - with the Kremlin saying that he'll sign more than a dozen trade deals with his counterpart Xi Jinping. Later in the day, Mr Putin will attend the opening ceremony of the Beijing Winter Olympics - which is being boycotted by the United States, Canada, Australia and the UK. We hear from Chris Weafer is CEO of the investment consultancy Macro-Advisory in Moscow.

Also in the programme, the Governor of the Bank of England has told the ÃÛÑ¿´«Ã½ that employees negotiating their salary this year should not ask for too big a pay rise - so they can help bring inflation under control. Mr Bailey said he was concerned that rising inflation would become ingrained in the economy.

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