Economy

Russia to Buy Iranian Crude Oil

Russia to Buy Iranian Crude Oil

Tehran and Moscow are close to signing an agreement for the export of 100,000 barrels per day of Iranian oil to Russia, Oil Minister Bijan Namdar Zanganeh said on Tuesday. "The two sides will seal an agreement on oil export to …

Tashkent and Astana to establish daily flight connection

Tashkent and Astana to establish daily flight connection

Uzbekistan and Kazakhstan plan to launch daily flights between the two capitals. It is also is expected to launch a rail connection between Almaty and Tashkent. These issues were on the agenda of the meeting of the Intergovernmental …

Georgian president to visit Baku

Georgian president to visit Baku

Georgian President Giorgi Margvelashvili will arrive in Azerbaijan to take part in the 5th Global Forum to be held in Baku on March 16-17, the State Committee of Azerbaijan for Work with Diaspora said. Margvelashvili is …

Azerbaijan expands economic cooperation with Italy

Azerbaijan expands economic cooperation with Italy

The Azerbaijan Export and Investment Promotion Foundation (AZPROMO) has established a representative office in Italy. According to the Ministry of Economy, the task of the newly-created office is to coordinate communication between …

 US Federal Reserve sees interest rate hikes coming soon

US Federal Reserve sees interest rate hikes coming soon

Central bankers at the US Federal Reserve held off on raising interest rates at their first meeting of 2017 but cited "moderate" economic growth and labor market conditions that have "continued to improve" as signs that the US …

Non-OPEC producers achieve at least 60% of promised output cuts

Non-OPEC producers achieve at least 60% of promised output cuts

Eleven non-OPEC oil producers that joined a global deal to cut output to boost prices have delivered at least 60 percent of promised curbs so far, OPEC sources said on Wednesday, higher than initially estimated, CNBC reports. The …

Azerbaijan, Mexico discuss transport cooperation

Azerbaijan, Mexico discuss transport cooperation

Transport Minister of Azerbaijan Ramin Guluzade and Mexico's Ambassador to Baku Rodrigo Labardini have discussed bilateral cooperation. "Both sides have expressed their desire and interest in …

Fikri Isik confirms possible purchase of Russian S-400

Fikri Isik confirms possible purchase of Russian S-400

Turkey is considering purchasing Russian S-400 missile systems, Turkey's Defence Minister Fikri Isik said in an interview with broadcaster NTV. Işık stated that Turkey's current missile and air defense need was …

Iran to present oil and gas contracts in Russia

Iran to present oil and gas contracts in Russia

The Iranian delegation will arrive in Russia to present the conditions of oil and gas contracts to Russian companies -the Russia Energy Minister Alexander Novak said following his talks with the Iranian Oil Minister Bijan …

Iran ready to buy Superjet-100 Russian aircraft

Iran ready to buy Superjet-100 Russian aircraft

Iran has confirmed intention to purchase 12 Superjet-100 Russian aircraft in the near future, the Russian Energy Minister Alexander Novak said in an interview with Rossiya 24 TV channel. "It was confirmed that Iran …

Middle East petrostates moving beyond crude oil

Middle East petrostates moving beyond crude oil

Diversification brings in Japanese partners, including at Dubai refinery

IMF draws attention to developing Islamic Banking

IMF draws attention to developing Islamic Banking

Islamic Banking has a presence in 60 countries. The industry mushroomed to more than $1.5 trillion in assets last year from about $100 billion in the late 1990s. While it represents less than 2% of global banking assets, its share is …

No mass access for Turkish products to Russia planned

No mass access for Turkish products to Russia planned

Russia does not plan to allow import of Turkish products subjected to restrictions in the near future, the head of Rosselkhoznadzor, Sergey Dankvert, said in an interview with Izvestia newspaper. "The import of the …

Vladimir Zakharov, #039North-South#039 to solve regional problems of road junctions

Vladimir Zakharov, "'North-South' to solve regional problems of road junctions"

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Senior lecturer of the World Economics and World Politics Department at the Department of Oriental Studies of the HSE on the prospects of the Russian-Chinese cooperation

OPEC Secretary General: oil market still far from equilibrium

OPEC Secretary General: oil market still far from equilibrium

The oil market was still far from equilibrium, OPEC Secretary General Mohammed Barkindo said, speaking at the International Petroleum Week conference in London. "Current oil prices are still far from balanced and …

 Georgian companies may be allowed to participate in Afghan tenders

Georgian companies may be allowed to participate in Afghan tenders

Georgian companies may be allowed to participate in tenders in Afghanistan, the Georgian Prime Minister Giorgi Kvirikashvili said at the government session. “We had a very interesting meeting with the Afghan …

Russia#039s Rosneft to buy oil from Iraqi Kurdistan

Russia's Rosneft to buy oil from Iraqi Kurdistan

Russia's Rosneft and the regional government of Iraqi Kurdistan signed a three-year contract in London on the purchase of oil to deliver it to its refineries abroad, the Russian company said. "The off-take and supply of Kurdish …

Saudi Arabia favors New York for Aramco IPO - media

Saudi Arabia favors New York for Aramco IPO - media

Saudi Arabia is favoring New York to list state oil giant Saudi Aramco, while also considering London and Toronto for the prospect of floating the firm. Saudi officials also talked to exchanges in Singapore, Hong Kong, Tokyo and …

Will cash payments to be limited in Russia?

Will cash payments to be limited in Russia?

The Russian Ministry of Finance and the Ministry of Economic Development are discussing plans to limit cash payments in a bid to combat Russia’s “shadow economy.” The new measures could include a ban on …

Iran ring up oil production

Iran ramping up oil production

The country's oil output will increase to 4 million bpd by April