Economy

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Azerbaijan’s trade representative to Russia appointed

Azerbaijan’s trade representative to Russia appointed

The chairman of the Board of Directors of the Ateshgah Insurance Group, Ruslan Aliyev, has been appointed trade representative of Azerbaijan to Russia, Azerbaijan’s Economy Ministry said. On Jan. …

 Russia lost $26 billion on oil and gas exports

Russia lost $26 billion on oil and gas exports

Russia is making less money on oil and gas exports, according to the data published today by the Federal Customs Service. In 2016, the revenues from oil and gas exports declined by 17.7% (compared to 2015) and amounted to $73.676 billion. …

Will state stop to be threat to competitive economy in Russia?

Will state stop to be threat to competitive economy in Russia?

Russian Federal Anti-Monopoly Service (FAS) proposed the Russian President Vladimir Putin to decrease the level of the state’s participation in the economy, including through reducing the market share of state and municipal …

OPEC president satisfied with market#039s response to oil output cuts

OPEC president satisfied with market's response to oil output cuts

Qatar's energy minister, the current OPEC president, Mohammed Saleh al-Sada, said that world oil markets were "responding positively" to output cuts implemented by the cartel and some non-cartel producers. …

Oil Markets On A Knife Edge

Oil Markets On A Knife Edge

Despite 91% OPEC Compliance

Zanganeh: OPEC output cut should be extended

Zanganeh: OPEC output cut should be extended

Iranian Oil Minister Bijan Namdar Zanganeh said OPEC should cut crude production "a bit more" in the second half of 2017, Fars news agency reported. Zanganeh added that data showing compliance on the part …

Putin ratifies Turkish Stream deal

Putin ratifies Turkish Stream deal

Russian President Vladimir Putin ratified deal with Turkey on TurkStream natural gas pipeline project on Tuesday, Daily Sabah reports. The upper house of Russian Parliament, the Federation Council of Russia, previously …

Railway line between Azerbaijani and Iranian Astara to start operating in March

Railway line between Azerbaijani and Iranian Astara to start operating in March

Chairman of CJSC Azerbaijani Railways (ADY) Javid Gurbanov has received Said Mohammadzade, Deputy Minister of Roads & Urban Development of Iran and President of Iranian Railways, abc.az reports. ADY …

Baku opens new chapter of cooperation with EU

Baku opens new chapter of cooperation with EU

Ilham Aliyev's visit to Brussels will be of great importance in terms of preparation, signing and implementation of a new agreement between Azerbaijan and the EU

Will Russia overtake Europe in 33 years?

Will Russia overtake Europe in 33 years?

The International consulting firm PricewaterhouseCoopers (PwC) presented the report titled 'The Long View: How will the global economic order change by 2050?', where its experts said that Russia will become the leading European …

Armenia may buy Russia#039s SSJ-100 aircraft

Armenia may buy Russia's SSJ-100 aircraft

Russia may supply two-four Sukhoi Super Jet-100 aircraft to Armenia in 2018-2019, the Russian Industry and Trade Minister Denis Manturov said. "I think in total it concerns supplying not more than 10 aircraft in …

Penalties for tax evasion weakened in Armenia

Penalties for tax evasion weakened in Armenia

The Armenian parliament adopted the draft amendments to the Criminal Code on weakening of the penalties for tax evasion. The bill was adopted unanimously by 96 votes, News.am reported. According to new bill, those who include …

Russia’s Central Bank: GDP declines in 2016

Russia’s Central Bank: GDP declines in 2016

Russia’s GDP reduction amounted to 0.2% in 2016, but dynamics turned positive in the fourth quarter of 2016, the Central Bank reported. "In 2016, GDP reduction amounted to 0.2%. In the fourth quarter, GDP turned …

Dvorkovich on results of gas and oil talks with Minsk

Dvorkovich on results of gas and oil talks with Minsk

Moscow still expects Minsk to repay its gas debt, though there is no progress in the talks on issues related to gas and oil between the two countries, Russia’s Deputy Prime Minister Arkady Dvorkovich said. …

 Baku and Kiev agree on import mechanism of products from occupied territories

Baku and Kiev agree on import mechanism of products from occupied territories

Baku and Kiev have agreed to ban importation of goods produced in the occupied territories of two countries, without approval of the authorities, the Ukrainian Ambassador to Azerbaijan Alexander Mishchenko said. During …

Military budgests of EU: It is cheeper together

Military budgests of EU: It is cheeper together

Europe could save almost a third of what it spends on military equipment

Iran announces new oil and gas discoveries

Iran announces new oil and gas discoveries

Iran has discovered 15 billion barrels of oil, the managing director of the National Iranian Oil Company, Ali Kardor, said, noting that a projected 2 billion barrels were recoverable. He also said 1.8 tcm (63.6 …

Final batch of Russian uranium to arrive in Iran

Final batch of Russian uranium to arrive in Iran

The fourth and final batch of 149 tons of yellowcake (uranium concentrate) will be imported to Iran from Russia on Tuesday, the Spokesman for the Atomic Energy Organization of Iran, Behrouz Kamalvandi, said. “The final batch …

Iran begins mass production of new military equipment

Iran begins mass production of new military equipment

Iran begins the mass production of state-of-the-art defense equipment newly designed and manufactured by experts at home to enhance the country’s capabilities in ground and aerial warfare, the country's Defense Minister Brigadier …

Russia expects three more years of cheap oil prices

Russia expects three more years of cheap oil prices

Oil prices will be hovering around $40-60 per barrel in 2017-2019, the Russian Finance Ministry’s Main guidelines for 2017-2019 debt policy said. "The oil price dynamics will still be one of the key risks for the Russian …