Economy
Credit rating of Spanish banks drops
Moody’s reduced the credit rating of 16 Spanish banks to A3. This includes the two largest banks of Spain, Santander and BBVA, ITAR-TASS reports.The rating drop was caused by recession in Spain, a reduction in the quality of the banks’ assets, their lack of debt capital and lack of state support for the banks.Gas shortage in Dagestan
Two districts in Dagestan’s Kizilyurt have experienced a gas shortage after a fire at the local gas pipeline, RIA Novosti reports.Specialists are clarifying the number of residential areas without gas in the Kizilyurtovsky and Kazbekovsky Districts. The fire has been put out.The fire started at the Mozdok-Kazimagomed Gas Pipeline in the Kizilyurtovsky District on Thursday night. It occurred at the 676th km of the 1200 mm diameter pipeline.Iran gold prices mirror worldwide drop
The price for gold coins dropped $20 in one day on Iran's market, a reflection of precious metals' continuing decline worldwide, Trend reports.Azerbaijani lawmakers to visit Armenia
Three members of the Azerbaijani Parliament are going to visit Armenia, the APA news agency reports.Iran reveals details of newly-found oil field in Caspian Sea
The details of a newly-discovered big oil field in the Caspian Sea have been announced, Trend cites the Mehr news agency as saying.25 percent of Georgian Railways to be put on London Stock Exchange
The Georgian Economy Ministry is studying the possibility of placing 25 percent of the shares of Georgian Railways on the London Stock Exchange, the ministry told Trend.Iranian authorities to sue Google for “removing” Persian Gulf
Iran has announced plans to sue Google for the Persian Gulf being absent from its map, RIA Novosti reports.Google Maps removed the name of the Persian Gulf from the map. The press secretary of the Iranian Foreign Ministry, Ramin Mehmanparast said that Google will pay unless the name is reinstated.Iran and the UAE have recently experienced an escalation of tensions over Abu-Musa and Greater and Lesser Tumb, the islands under dispute. The UAE accuses Iran of occupying the territories.EU demands closure of Armenia’s Metsamor nuclear power plant
The European Union is opposed to modernization of the nuclear power plant in Armenia’s Metsamor in 2016, ARKA reports.Armenian President Serzh Sargsyan said in April that the formation of a new energy block would start in 2014. The operation of the power plant will be extended.Russia does not plan to leave Kyrgyzstan’s Kanta
Colonel-General Alexander Zelin, Assistant Defense Minister of Russia for Aviation, said that Russia does not plan to move its base from Kanta in Kyrgyzstan, RIA Novosti reports.Zelin attended a conference marking the 100th anniversary of Russian Air Forces in Voronezh. He noted that the base in Kanta has recently experienced modernization of aircraft. The base meets the interests of the Collective Security Treaty Organization (CSTO).Russia denies purchase of Israeli drones
The Military Industry Commission of the Russian government said that the Defense Ministry has not purchased Israeli drones, RIA Novosti cites the Deputy Chairman of the commission, Yuri Borisov, at the International Exhibition of the Helicopter Industry in Moscow.Borisov said that he is in charge of the commission and is aware of all activities. Should Russia want to purchase Israeli drones, it will use Rosoboronexport.
Ingushetia presented itself in the State Duma
How does the Head of the Ingush Republic plan to attract investments?Oil extraction at Kazakhstan’s Kashagan field to reach 375,000 barrels daily
Oil extraction at the Kashagan Field in Kazakhstan will total 375,000 barrels daily, Trend cites Lyazzat Kiinov, CEO of KazMunaiGas, as saying.Extraction at the field will start at 75,000 barrels daily and will reach 375,000. According to another version, output may increase to 450,000 barrels daily.Jakyp Marabayev, Managing Director of the Kashagan project at the North Caspian Operating Company (NCOC), said earlier that extraction will start from 75,000 barrels daily.Azerbaijani industrial production drops
Azerbaijani industrial production dropped by 13.8% in April 2012 compared with March (3364.6 million manats), ABC reports.The highest production level was registered in October 2011 (4797.4 million. Industrial production totaled 12262.5 million manats (AZN), $15.552 billion, in January-April 2012, according to the exchange rate of 0.79 AZN per USD, a drop of 2.6% compared with January-April 2011. Production in April reached 2899.4 million manats. The level in March remains the best in 2012 (3364.6 million manats).Japanese bank freezes Iranian accounts
The Bank of Tokyo-Mitsubishi UFJ has frozen accounts of the government and Central Bank of Iran, as demanded by the New York District Court, ITAR-TASS reports.The Bank of Tokyo-Mitsubishi UFJ realizes up to 80% of Japanese-Iranian operations. Japanese companies may stop oil trading with Iran.
US dollar strengthens positions
The USD increased its value from $1.2730 per euro to $1.2716, and from 80.19 yens per dollar to 80.33 on Tuesday. The dollar value for six main trading partners of the US increased from 81.28 points to 81.35 points.Nabucco presents new gas pipeline concept
The consortium of the Nabucco gas pipeline project has presented the Nabucco-West concept to the Shah Deniz consortium of Azerbaijan, Trend reports.The concept provides construction of a gas pipeline from the Turkish-Bulgarian border to Baumgarten (Austria). Reinhard Mitchek, head of the Nabucco Gas Pipeline International GmbH, expressed confidence in the success of the project.The Nabucco-West idea is to build a 1300-km long pipeline, which may further be extended.LUKOIL is not interested in Baku-Tbilisi-Jeyhan project
Russia's largest private oil company LUKOIL is not interested in oil deliveries via the Baku-Tbilisi-Jeyhan pipeline, the company's president Vagit Alekperov said.
Youth economic conference to be held in Pyatigorsk in the framework of the Mashuk forum
A youth economic conference will be held in the Russian city of Pyatigorsk in the framework of the Mashuk forum on July 13-15, 2012.Azerbaijan urges IAEA to close nuclear power plant in Metsamor
The Azerbaijani Deputy Minister of Industry and Energy, Natig Abbasov, has met with the International Atomic Energy Agency’s Internal Oversight Services Director, Carsten Meyer, News.az reports.TAP shareholder would welcome Italian partner in project
Germany's E.ON Ruhrgas, which is a shareholder in Trans Adriatic Pipeline, would welcome an Italian partner in the project, Trend cites Reuters as saying with reference to the company CEO Klaus Schaefer.Passenger plane makes emergency landing in Rostov-on-Don
An passenger plane Aibus A-320 has made an emergency landing at Rostov-on-Don today at 1.58 pm, Interfax reports.Crew commander of the plane flying from Abu-Dhabi to Domodedovo (Moscow) reported about depressurization when flying over the Rostov Region.Turkish airlines cancel over 20 flights from Istanbul
Turk Hava Yollari has cancelled 23 domestic and international flights from Istanbul to Beirut, Kuwait and Rome due to weather conditions.Flights to Baku set for May 16 and 17 were cancelled as well, Trend reports.Moscow to earn some 2.5 million rubles after selling Yevropeysky Trade Center
The Moscow Mayor’s Office and the main shareholders of the Yevropeysky Trade Center God Nisanov and Zarakh Iliyev have agreed to sell the city’s share in the project, Vedomosti reports.The share will be purchased for 2.499 billion rubles. Additional emission will be carried out by Ploshad Yevropy, where Moscow has a share of 30%, the rest belongs to Nisanov and Iliyev. The rest of the share will be split to at least 5%.EU demands closure of Armenian nuclear power plant
The European Union continues urging Armenia to shut down its nuclear power plant at Metsamor, Trend reports.The European Commission and High EU Representative for Foreign Affairs and Security Policy Catherine Ashtone published a joint document on neighbourhood policy of Armenia in 2011. The document states that Armenia is willing to study the risks and security of the power plant with the EU after the Fukushima accident.
