Economy

All OPEC members back extension of oil output cut deal, Iran Oil Minister says

All OPEC members back extension of oil output cut deal, Iran Oil Minister says

All members of the Organization of the Petroleum Exporting Countries (OPEC) appear to be supporting the extension of the oil production curtailment agreement, but the timeframe remains the topic for discussion, …

Valery Bessel: OPEC deal must be extended

Valery Bessel: "OPEC deal must be extended"

OPEC meeting will be held in Vienna tomorrow. Extension of the agreement on oil production cuts will be discussed

Turkey limits imports of all Russian agricultural products

Turkey limits imports of all Russian agricultural products

Turkish exporters decided to limit the import of all types of Russian agricultural products to 20-25% of the total volume of imports, the member of the Management Board of the Istanbul Association of Exporters Zekeriya Mete …

Construction of Anaklia port starts on November 15

Construction of Anaklia port starts on November 15

The first phase of construction of a deep sea port in Anaklia will start on November 15. "The beginning of construction work is scheduled for November 15. Preliminary work, within the framework of which the research was carried …

Russia’s phytosanitary watchdog denies difficulties in grain export to Turkey

Russia’s phytosanitary watchdog denies difficulties in grain export to Turkey

Export of grain to Turkey runs in standard mode, the official representative of Russia’s phytosanitary watchdog Rosselkhoznadzor, Yulia Melano, said. "Grain exports run in standard mode, there are no recalls …

Kremlin confirms restrictions on Russian wheat supply to Turkey

Kremlin confirms restrictions on Russian wheat supply to Turkey

Russia and Turkey are negotiating restrictions on the supply of agricultural products, Russian presidential spokesman Dmitry Peskov said. "Indeed, there are restrictions," the Kremlin spokesman said commenting …

Kuwaiti oil minister: OPEC may extend output cuts by 12 months

Kuwaiti oil minister: OPEC may extend output cuts by 12 months

OPEC and non-member oil producers could deepen output cuts or extend them for a year when they meet in Vienna this week, Kuwaiti oil minister Essam al-Marzouq said. As ministers gathered in Vienna for informal …

 International Bank of Azerbaijan sells its subsidiaries in Russia and Georgia

International Bank of Azerbaijan sells its subsidiaries in Russia and Georgia

The  International Bank of Azerbaijan (IBA), which is undergoing the procedure of voluntary restructuring of its loan liabilities to external lenders, started sales of its foreign assets. The bank said at its presentation organized …

 Turkey limits Russian sunflower oil supplies

Turkey limits Russian sunflower oil supplies

Turkey limited imports of sunflower oil from Russia, the head of Russia's Oil and Fats Union, Mikhail Maltsev, said. According to Maltsev, the quota was limited to only 15-30 percent, RIA Novosti …

Armenia considers alternative ways for supplying energy to communities

Armenia considers alternative ways for supplying energy to communities

Armenia's energy infrastructures and natural resources ministry is considering a number of alternative ways for supplying thermal energy to the country’s communities which have no gas-conveying infrastructures, the ministry’s …

UAE leads Gulf foray into Caspian Sea market

UAE leads Gulf foray into Caspian Sea market

Azerbaijan, Kazakhstan and Turkmenistan offer an increasingly attractive proposition

US stops financial aid to Caucasus (and not only to it)

US stops financial aid to Caucasus (and not only to it)

  US President Donald Trump administration released the 2018 budget proposal, which includes massive cuts to domestic and foreign aid programs. The Budget proposes to reduce or end direct funding for …

Turkmenistan, Uzbekistan Pledge Game-Changing Energy, Power Cooperation

Turkmenistan, Uzbekistan Pledge Game-Changing Energy, Power Cooperation

Ashkhabad and Tashkent signed a few agreements

Nairit plant’s property set for auction - media

Nairit plant’s property set for auction - media

Nairit bankruptcy procedure manager, Karen Asatryan, has set the chemical plant’s property for an auction. According to the newspaper, an auction took place on April 28 in a courtroom of Yerevan’s …

Turkey imposes new restrictions on Russian wheat imports

Turkey imposes new restrictions on Russian wheat imports

Turkey has imposed new restrictions on Russian wheat imports, limiting them to 20-25 percent of all import licences issued for the commodity, SovEcon analysts said. This information was confirmed by two top managers of Russian grain …

IMF: Russia#039s monetary policy easing is appropriate

IMF: Russia's monetary policy easing is appropriate

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Interest rate cuts should continue at a gradual pace

Kremlin: extension of OPEC deal aimed at aligning energy prices dynamics

Kremlin: extension of OPEC deal aimed at aligning energy prices dynamics

The extension of the oil production cut agreement between OPEC and non-OPEC nations is aimed at aligning the dynamics of energy prices, Kremlin spokesman Dmitry Peskov said. "The issue here is first of all about …

World Bank expects Russia’s economy to grow

World Bank expects Russia’s economy to grow

The World Bank expects Russia’s economy will expand moderately over the next three-year period, with growth rates are seen at 1.3% and 1.4%. "We expect the Russian economy to grow 1.3% in 2017 and 1.4% both in 2018 and …

OPEC deal to become more global

OPEC deal to become more global

Egypt, Norway and Turkmenistan made signs of their willingness to join the oil production cuts, Kuwait's oil minister Essam al-Marzouq said. The minister noted that  Saudi Energy Minister Khalid …

Armenia plans to produce innovative organic fertilizer

Armenia plans to produce innovative organic fertilizer

An Armenia-based company plans to produce fertilizer using emerging foreign technologies, Agro IG company Deputy Director Harutyun Usta-Karayan said. He noted that the respective project was submitted to the government, …