Economy

Turkey withdraws its gold reserves from US

Turkey’s Central Bank has transferred its gold reserves stored in the US Federal Reserve System to Turkey, Turkish media reported, citing sources in the government. The total volume of the gold reserves of Turkey’s …

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OPEC+ Monitoring Committee holds meeting in Jeddah

The 8th meeting of the Joint Ministerial Monitoring Committee (JMMC) has started in Jeddah, Saudi Arabia, where OPEC and non-OPEC oil ministers will discuss the oil production cut deal. OPEC and its allies achieved 149 percent of …

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Improving logistics will boost Azerbaijan-India trade

A recent trip by Indian External Affairs Minister Sushma Swaraj to the pristine south Caucasian nation of Azerbaijan, in the backdrop of the mid-term ministerial meeting of the NAM (Non-Aligned Movement) countries, had been a long-pending …

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 Oil price at highest level since November 2014

Oil price hit its highest levels today since November 2014 as stockpiles fall and worries about geopolitical tensions in the Middle East weigh on the markets. The cost of Brent crude oil futures contracts deliverable in June 2018 rose …

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Moody's: Russian economy resilient to US sanctions

Rating agency Moody’s Investors Service said that Russia’s strong public and external finances would shield its economy from the impact of the latest US sanctions. However, according to the agency, the sanctions will be …

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OPEC+ ministers to meet in Jeddah

OPEC and non-OPEC oil ministers will meet in Jeddah, Saudi Arabia today to discuss their oil production cut deal.  The Joint Ministerial Monitoring Committee (JMMC) will make a recommendation to OPEC about whether or not the …

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Iran to replace dollar with euro in financial reports

Tehran will start reporting foreign currency amounts in euros rather than US dollars, state media said as part of the country's effort to reduce its reliance on the US currency due to political tension with Washington. The new …

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New overpass to offload Tbilisi road traffic

A new overpass at the crossroads of Tsintsadze-Kartozia streets in Saburtalo district of Tbilisi will be built in order to offload road traffic in Georgia’s capital, Tbilisi City Hall said. The implementation of the 2,700,000 GEL …

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Doesn't collapse of ruble bother Russians?

The All-Russian Public Opinion Research Center (VCIOM) has conducted a public opinion poll, according to its results, the increase in the dollar and euro exchange rates does not bother the majority of Russians (60%). Two-thirds of the …

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SOCAR Petrofac company registered in Azerbaijan

A joint venture of Azerbaijan’s state oil company SOCAR and UK’s Petrofac international service provider to the oil and gas production and processing industry - SOCAR Petrofac passed state registration, the newspaper of …

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16 Georgian wine companies on display in Japan

Sixteen Georgian wine companies participated in the international fair Wine and Gourmet Japan 2018 held from April 11-13 in the capital of Japan, Tokyo. Leading wine professionals, wine traders and importers from the entire region of …

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Azerbaijan’s election, an affirmation of stability

The April 11 elections in Azerbaijan have once again solicited a number of critical articles and editorials from some in the media condemning the of President Ilham Aliyev. The laser sharp focus on a negative narrative of human …

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Russian economy ministry lowers GDP growth outlook

Russian gross domestic product (GDP) growth is seen at 1.3% year-on-year in February, Russian Economic Development Ministry said. The ministry also revised its estimate for January GDP growth to 1.7%year-on-year, versus a previous …

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