Economy

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Putin discusses problems of reconstruction of South Ossetia with Eduard Kokoyty

26 billion rubles will be spent on the reconstruction of South Ossetia, Russian prime minister Vladimir Putin said at his meeting with Eduard Kokoyty, the president of South Ossetia.

Russia ready to renew flights to Abkhazia.

Georgia today reports that the military transport aviation of Russia is ready to renew direct flights to Abkhazia. Viktor Kachalkin, a lieutenant-general, says that the first flight took place in August, 2008. President of the republic Sergey Bagapsh

International Caspian Oil & Gas Exhibition and Conference opens in Baku

The attention of the international oil and gas industry will befocused on Baku for the Caspian region's biggest trade event startingon June 1. The 17th International Caspian Oil & Gas Exhibition andConference incorporating Refining & Petrochemicals will unitethousands of professionals in the global oil and gas sector, Trendreports.The history of Azerbaijan, which is the cradle of the global oilindustry, and the attention of the country's leadership to the event

New grain storage terminal to be opened in Iran's Amirabad

Today an opening ceremony of a grain storage terminal will take placein the Iranian port of Amirabad, reports a VK correspondent.A Kazakh delegation will participate in the ceremony. This terminalwill become an important point on the southern transit route forKazakh grain. According to official information, more than 53.000 tonsof grain can be transported through the terminal in Amirabad. Mainlythis will be exports to Iran and Middle East states .

Iran buys LNG tanker in China

Iran has chosen China for an order for the construction of a tankerfor the transportation of liquefied natural gas, which will be putinto operation in four years, reports Trend.The cost of each ship is estimated at $200 - $220mln, and to form aflotilla of LNG tankers more than $1.2 billion will be invested.Iran plans to produce 11mln tons of liquefied natural gas annually,and 1 tanker can transport a million ton of liquefied gas a year. Butas transportation is partially carried out by private companies, Iran

Baku and Ashkhabad to bridge Caspian gap

Baku and Ashkhabad to bridge Caspian gap

The basis for dialogue between Azerbaijan and Turkmenistan may become cooperation in the energy sphere.

Number of flights to Sochi to be doubled

In the near future, the number of flights to Sochi, which will hostthe 2014 Winter Olympics, will be doubled, reports RIA Novosti.On behalf of Sochi's mayor, this year flights will be carried out onroutes from Kishinev, Kiev, Barnaul and regular flights from Istanbul.

Power plant to be built in Krasnodar region.

The opening ceremony of the construction of a power plant near thevillage of Defanovka in Russia's Krasnodar region will be held onMonday. The project was included in the plan for Olympicinfrastructure construction, reports ITAR-TASS.The cost of the power-plant, with a total power of 180 MW, isestimated at some 10 billion roubles. The facility will be put intooperation by mid 2013.

Cement plant construction planned in Ingushetia

A session devoted to the construction of a new cement plant has taken place today in Magas, Yuga.ru reports. The session was chaired by Yunus-Bek Yevkurov, the president of the republic.The main topic of the meeting with investors was elaboration of suggestions on the construction of the site. The sides agreed that specific investment plans would be put to the government in 30 days.

Dagestan pension fund processes employers' data

A campaign to process employers reports from 2009 has finished in Dagestan, "RIA "Dagestan" reports. 559,775 individual declarations and 11,126 insured claims have peen processed. Some organizations did not submit their reports and will be penalized.

Iran plans to buy Georgian beef

Iran and Georgia carried out negotiations on beef imports and the building of slaughterhouses on the territory of Georgia, reports Trend, with reference to the Iranian agency MEHR.

Iran expects positive reaction from Russia on uranium agreement

Tehran is counting on an effective and positive reaction from Moscow on the realization of the Tehran trilateral agreement on the exchange of low-enriched uranium (up to 3,5%) for highly-enriched (up to 20%) on the territory of Turkey, the Iranian news agency Fars reports, with reference to the Foreign Ministry.

Tourist company to pay costs of tours for injured and dead in road accident in Turkey

The company 'Pegas Touristic' has decided to pay compensation of the tour costs for all the injured and the families of the dead which means the money people paid will be returned, a spokeseman for the Russian Union of Tourist Industry told Ekho Moskvy radio station.

Baku-Makhachkala express discontinued

The Baku-Makhachkala express train is has been discontinued as of today, said press secretary of the company "Azeri Railways" Nadyr Azmamedov, APA reports. The carriages from the express will be added to the Baku-Tyumen train No373/374 which runs three days a week. On the return journey the carriages will link up with the Rostov-Baku No395 and Moscow-Baku No56 trains . The express began operating on the 6th of April 2003.

Georgian commercial bank assets to reach $5 billion

The total assets of Georgian commercial banks exceeded $4.8 billion on May 1st. According to Georgian National Banks it is $450 million more than last year’s indicator, Georgia Times reports.The total assets of the bank sector reached $873 million, or 17.8% of cumulative assets.Georgian commercial banks had a $5 million income in April and $13.7 million since the start of this year.

Armenia will continue to rely on foreign support in 2010 - UN

The world GDP after reducing by 2% in 2009 will rise by 3% this yearand by 3.1% in 2011. According to the new UN report on the worldeconomic state and prospects for 2010, the revival of the worldeconomy will be unstable and rapid and will not lead to the recoveryof the employment market.The head of UN Department of Economic and Social Affairs, Robert Vos,noted that current forecasts on the world economic development arebetter than six months ago. However, the unemployment level is stillrising around the world.

The Turkic bridge

The Turkic bridge

Kazakhstan and Turkey will increase trade turnover five-fold

New cultural centres to be built in Ingushetia

Ingush President Yunus-Bek Yevkurov held a meeting on the condition of cultural and sports institutions, Yuga.ru reports.Yevkurov noted that organization of youth employment at night-time is one of the most important constituents of social stability and development. Minister of Culture Yakub Patiyev reported on the condition of cultural and leisure facilities in the republic.

Sapsan may be launched in Sochi

According to the president of Siemens in Russia, Dietrich Meller,Siemens and Russian Railroads (RZD) are discussing a variant of Sapsanwith sleeping carriages, with one possible route being theMoscow-Sochi line, PRIME-TASS reports.

Turkey's Hava Yollari to start regular flights to Nakhichevan

Turk Hava Yollari (THY) will begin flights from Istanbul toNakhichevan three times a week from June 17th, Armenia Today reports,citing Turkish media.The flights will be carried out from the Istanbul airport of SabikhaGekchen.The opening ceremony may see the particption of the heads ofthe Turkish and Azerbaijani foreign ministers.