Economy

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Kuban trims roads

It is scheduled to put in order at least 300 kilometers of local roads in the Krasnodar Territory in 2010, reported at pan-Kubanian forum "United Russia" governor of the region Alexander Tkachev, reports YuGA.ru."This year we will focus on modernization of the road networks of cities and regions. We must put in order at least than 300 kilometers of local roads," - said Alexander Tkachev.

Russia, India beginning to cooperate in nuclear energy

Russia and India have signed a road map for large-scale cooperation between the two countries in the civil nuclear energy sector. Also as a result of the visit of Prime Minister Vladimir Putin to India, a document on the establishment of a joint venture for the production of ground-based navigational equipment to receive signals from Russia's Global Navigation Satellite System (GLONASS) has been signed, Interfax reported.

Sky Georgia to start daily Tbilisi-Batumi flights

Sky Georgia airlines will begin daily flights between Tbilisi and Batumi at the end of March, Business Georgia reports.With this aim, the company will lease a new 44-seat plane from Ukraine.The price of a return ticket will be $120, or $200 for business class.

Ingushetia to improve infrastructure in Ingush area of North Ossetia

Ingush President Yunus-Bek Yevkurov has ordered work to begin on building a gas pipeline and water supply and also on the repair of roads in the Hurikau settlement in a mountainous area of North Ossetia populated by Ingush, Yuga.ru reports.Yevkurov gave the appropriate assignments to the responsible officials during a meeting on Thursday. The Ingush president’s envoy to North Ossetia, Mukharbek Aushev, has said the question of giving the settlement communications links has been approved by the leadership of North Ossetia.

Blaze put out on Russian ship in Caspian Sea

Blaze put out on Russian ship in Caspian Sea

Ships and helicopters from Caspian oil companies helped extinguish a fire on board a Russian ship in the Caspian Sea on Friday, Trend aid, citing Azerbaijani officials.

Project for bridge across Baku bay gets South Korean grant

Azerbaijan’s Transport Ministry signed on Thursday a grant agreement with the South Korean Embassy on preparing the technical and economic basis for building a bridge across the Bay of Baku. The grant of $1.5 million will be allocated by the Korean agency on international collaboration, Trend reports.The total cost of building the bridge across the bay is estimated at more than $1 billion.

Azerbaijan’s Central Bank not going to close commercial banks

For the past few days, news media have published reports about the closure, merging and bankruptcy of banks, in connection with which the Central Bank of Azerbaijan (CBA) made an official announcement, Trend reports.

Azerbaijan is Georgia’s 2nd-largest trading partner

 Georgia’s state statistics service reported that Azerbaijan was the country’s second-largest trading partners in January 2010, Business Georgia reports.During the stated period, trade turnover between Azerbaijan and Georgia amounted to $43.1 million (11.2% of total turnover). Georgian exports to Azerbaijan were worth $15 million (14.1% of total exports).The main exports from Georgia to Azerbaijan were motor cars (56%), cement (8.8%) and cattle (7.2%), with other products making up the remaining 28%.

Chinese businessmen come to make investments in Dagestan

Chinese businessmen come to make investments in Dagestan

Dagestan’s president, Magomedsalam Magomedov, met in Makhachkala on Thursday with representatives of business circles of China, headed by the president of Norinko International Cooperation, Wang Jinping, RIA Dagestan reports referring to the press service of the head of the republic.

Royal Dutch Shell Plc stops sales to Iran

The English-Dutch concern Royal Dutch Shell Plc has stopped supplying gasoline to Iran, but a company representative did not explain the reasons for it, reports the Associated Press. "We do not currently sell any gasoline to Iran," said Rayiner Winzenried, a Shell spokesman in The Hague.He declined to say when shipments were halted, and if the move was connected to the possible toughening of sanctions against Iran.

Azerbaijan prepares Caspian Sea draft agreement

Azerbaijan has prepared a draft of an agreement taking into account the approaches of the Caspian countries and presented it during a Baku meeting of deputy ministers of foreign affairs of Caspian states, Azerbaijani Foreign Minister Elmar Mamedyarov said, Trend reports.

Turkey to give Russia draft of agreement on nuclear power plant construction

Turkey will give Russia a draft of an intergovernmental agreement on the construction of a nuclear power plant, ITAR-TASS reports.In late February, the Russian side handed over its draft of the intergovernmental agreement to Ankara for examination.

U.S. President Barack Obama has prolonged unilateral economic sanctions against Iran for another year

U.S. President Barack Obama has prolonged unilateral economic sanctions against Iran for another year, ITAR-TASS reports. In a letter to Congress, Obama said the authorities in Tehran “pose a continuing unusual and extraordinary threat to the national security, foreign policy, and economy of the United States.”

Gas prices going up in Armenia.

Gas prices going up in Armenia.

Experts call this one more blow against the people of Armenia.

New pipeline will provide Sochi with gas

The construction of the new gas pipeline " Dzhubga -Layarevskoye-Sochi" will be finished in the second quarter this year, and its annual pumping capacity will be 3.8 billion cubic meters of gas.The project is included in the federal program of the construction of Olympic objects and the development of Sochi. Gas will also go through this pipeline to supply the Adler thermal power plant, which a Gazprom subsidiaries have started building in the Imeretin Valley

Georgia wants to see its goods return to Russian market, but wary of trap

Georgia wants to see its goods return to Russian market, but wary of trap

The opening of additional markets for Georgian goods is to be welcomed, but it is necessary to exercise caution when dealing with Russia, Georgian Finance Minister Kakha Baindurashvili said on Wednesday ahead of a cabinet meeting, RIA Novosti reported.

China to expand high-speed rail system to 17 countries

China is planning to expand its high-speed railway system to 17 countries, including Russia, Iran and Turkey. “Negotiations are going on with the respective countries and construction should be finished in 2025,” Wang Mengshu, a member of the Chinese Academy of Engineering, was quoted as saying by Interfax.

IMF delegation to appraise Turkish economy in May

The International Monetary Fund (IMF) will send a special delegation to Turkey in May to evaluate the country’s long-term economic outlook and policies, the organization said in a statement.

Investment for Ingushetia

Investment for Ingushetia

The republic plans to attract capital for the construction sphere and the creation of hydroelectric power plants.

Niche of absolute intransigence

Niche of absolute intransigence

President Saakashvili said that the young Georgian state had withstood three tsunamis.