Economy

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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.

European Commission allocates 200 million euro for Nabucco

The European Commission has allocated 2.3 billion euro for the realization of gas and energy projects, 200 million euro of which will go on the building of gas pipeline Nabucco. At the same time, the new EU commissioner on energy, Gunter Ettinger, declared the money is frozen until final approval of investment decision, Kommersant writes.  

Transneft, Chevron discuss cooperation on Samsun-Ceyhan piepline

Transneft and Chevron are discussing cooperation in implementing the Samsun-Ceyhan oil pipeline project, RIA Novosti reports with reference to the corporate magazine of the Russian company.  

Iran’s first nuclear power plant will start work this year

The startup of the first Iranian nuclear power plant, being built by Russian specialists in Bushehr, will take place in 2010, Russian Foreign Minister Sergei Lavrov confirmed on Tuesday, adding that adjustment and alignment works were continuing, RIA Novosti reports.

Ingushetia’s president orders preparation of construction plans for federal program

The president of Ingushetia, Yunus-Bek Yevkurov, held a meeting with the republic’s prime minister, Alexei Vorobiyev, ministers and agency heads on the implementation of federal program for the socio-economic development of the region until 2016, Yuga.ru reports.

Iran started mass production of the new cruise missile

The Iranian minister of Defense general Ahmad Vahidi said, that in the country started being manufactured in production quantities antivessel cruise missiles «Nasr-1", reports Trend referring to the news agency IRNA. According to Vahidi, a "Nasr" missile can destroy the vessel of 3000 displacement tons.The «Nasr-1» missile falls into the category of short-range missiles, it can be launched both from the land and from the vessel, but the missile can not be launched yet from aircraft or submarines.

Azerbaijan to open new port

The Azerbaijan State Caspian Sea Steamship company is planning to put into commission a new dry cargo port, reports abc.az, citing company head Aydin Bashirov.

The fate of Nabucco will be decided in Brussels

The decision to either start the construction of the gas pipeline Nabucco or eventually close down the project will be made by the EU before the end of this year during a special conference in Brussels, ITAR-TASS reported, referring to diplomatic sources at the European Commission.  

Turkish parliament approves bill on building Nabucco gas pipeline

Turkish parliament approves bill on building Nabucco gas pipeline

The Turkish parliament has approved a bill on construction of the Nabucco gas pipeline, through which natural gas from the Caspian Basin is to be supplied to Europe bypassing Russia, RIA Novosti reported.

Iran ready to refuse uranium exchange if country hit by new sanctions

Iran's proposal on synchronous exchange of low-enrichment uranium remains in force only as long as new UN Security Council sanctions are not brought against Teheran, the permanent representative of Iran at International Atomic Energy Agency, Ali Asghar Soltanieh, said in an interview with Iranian news agency Mehr, RIA Novosti reported.

Iranian experts build methanol plant in Baku

The first methanol plant in the Caucasus is being in Baku by Iranian experts, with the 65-million-euro project already 60% complete, Iran.ru reports.

European Commission provides grant for small businesses in Azerbaijan

The European Commission has allocated 7 million euros in funds for the support of small-and medium-sized businesses in six former Soviet republics, including Azerbaijan.