Economy

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Trump ends development of Trump Tower in Batumi

Trump ends development of Trump Tower in Batumi

Donald Trump’s company pulled out of a proposed $250-million tower project in the Georgian Black Sea resort town of Batumi, the latest effort by the U.S. president-elect to defuse charges that his global businesses will cause conflicts of …

Top OPEC members were putting #039pedal to the metal#039 ahead of planned output cuts

Top OPEC members were putting 'pedal to the metal' ahead of planned output cuts

Now, Saudi Arabia, Kuwait and the United Arab Emirates cut production

Free trade deal with Georgia among China’s top economic events in 2016

Free trade deal with Georgia among China’s top economic events in 2016

Georgia - China Free Trade Deal has been ranked 8th among China’s top ten main economic events of 2016, Georgia’s Ministry of Foreign Affairs said. The Ministry of Commerce of the People’s Republic of China has …

Oil Prices Boosted By Expected Drop In US Inventories

Oil Prices Boosted By Expected Drop In US Inventories

There are signs that oil producers will stick to agreed output cuts

Azerbaijan contracts new energy services

Azerbaijan contracts new energy services

Technip's position is strengthened by a service contract with SOCAR

  Iraq begins cutting oil output in keeping with OPEC deal

Iraq begins cutting oil output in keeping with OPEC deal

Iraq has begun implementing measures to reduce national oil output in keeping with an OPEC decision, the Iraqi oil minister Jabar Ali al-Luaibi said. "Iraq affirms its commitment to the OPEC decision which was …

Ruble grows amid growing oil

Ruble grows amid growing oil

Oil prices, after falling the day before, began to recover gradually due to a thorough implementation of the agreement on the production cuts. Thus, the March futures for Brent crude oil on London's …

Iran pushing for international home appliance brand

Iran pushing for international home appliance brand

Iran is pushing for one internationally viable home appliance brand as well as two or three nationally competitive ones by the year 2025 according to a national policy overview set up by the Ministry of Mine, Industry, and Trade.  …

 Iran qualifies foreign companies for oil and gas tenders

Iran qualifies foreign companies for oil and gas tenders

Iran has qualified 29 international companies to bid in tenders for oil and natural gas development projects as the company seeks foreign investment to revitalize its industry following the end of international sanctions.  The …

Oil hits 18-month high as Kuwait, Oman fulfill OPEC cuts

Oil hits 18-month high as Kuwait, Oman fulfill OPEC cuts

Kuwait, Oman fulfill OPEC cuts and China’s manufacturing purchasing managers index stabilized

Turkey#039s economic results of 2016

Turkey's economic results of 2016

Turkey’s exports decreased to $142.6 bln in 2016

Glencore and QIA announce Rosneft deal closed

Glencore and QIA announce Rosneft deal closed

The consortium of Glencore plc, the London-listed commodities trading and mining company, and Qatar Investment Authority (QIA) closed the deal of buying out Russian state-run oil company Rosneft’s 19.5% stake, Glencore said in a …

MICEX Index begins year with new historical record

MICEX Index begins year with new historical record

Today at the opening of the trade at the Moscow exchange  the MICEX index set a new historical record surpassing 2260 points. This is due to the growth of the value of shares of a number of Russian …

Turkmenistan comments on limit of gas supplies to Iran

Turkmenistan comments on limit of gas supplies to Iran

Turkmenistan's authorities have made a decision to cut the deliveries of natural gas from the Central Asian country to Iran because of the National Iranian Gas …

Success of OPEC deal still in doubt

Success of OPEC deal still in doubt

But crude oil prices bound to head higher in near term

Turkmenistan halts gas flow to Iran in row over arrears

Turkmenistan halts gas flow to Iran in row over arrears

Two countries have not been able to agree on payments, amount of debt Iran owes to Turkmenistan

 Brent above $58 per barrel for first time in 18 months

Brent above $58 per barrel for first time in 18 months

Brent crude oil rose above $58 per barrel for the first time since July 15, 2015. The prices of March futures for Brent oil have risen by 1.74% to $58.09 per dollar on the ICE Exchange in London, TASS reports. …

 Ruble stars 2017 with increase

Ruble stars 2017 with increase

There was a decline in the dollar and the euro exchange rates today on the Moscow stock exchange.

Iran increases oil sales to BP and Shell

Iran increases oil sales to BP and Shell

Iran has increased its sales of crude oil as well as condensate to global energy giants Shell and BP, the Director for International Affairs of the National …

Russia among most popular investor picks for emerging markets

Russia among most popular investor picks for emerging markets

Russia entered the list of popular investor picks for emerging markets for 2017, Bloomberg writes. For investors that borrow in currencies with low interest rates and buy high yielding ones, Russia’s ruble is a top bet.  …