Economy

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BP: ‘contract of the Century’ may be extended in summer

BP: ‘contract of the Century’ may be extended in summer

The BP company expects the ‘Contract of the Century’ for the further development of the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea, to be signed in the middle of 2017, …

Turkish Airlines and Halkbank stakes transferred to wealth fund

Turkish Airlines and Halkbank stakes transferred to wealth fund

Turkey's government has transferred its major stakes in Turkish Airlines and Halkbank to its sovereign wealth fund, removing them from a privatisation programme, the OIB privatisation administration said. The OIB said on Monday that …

 Oil prices increase in response to Trump#039s sanctions on Iran

Oil prices increase in response to Trump's sanctions on Iran

World oil prices increased on the background of the expansion of the US sanctions against Iran. As of 08:18 (MSK) the crude oil futures of WTI rose 0.35%, reaching $54.02. The price of a barrel of Brent crude rose by 0.35%% to …

Iran to build oil refineries in Brazil and Spain

Iran to build oil refineries in Brazil and Spain

Iran is negotiating with Spain and Brazil for construction of oil refineries in these countries, the managing director of National Iranian Oil Refining and Distribution Company (NIORDC), Abbas Kazemi, said. …

Italy eyes to increase trade with Azerbaijan

Italy eyes to increase trade with Azerbaijan

Italy aims to engage in new sectors of trade with Azerbaijan, Luigi D’Aprea, director general of the Italian Chamber of Commerce in Azerbaijan, said in an exclusive interview with Trend. Opportunities for the …

Investors warm to Russia as bond fund inflows hit record

Investors warm to Russia as bond fund inflows hit record

Investors have warmed to Russian assets, welcoming the country in from the cold. Russian bond funds counted record inflows in the week to February 1 as higher crude prices and improving relations with the US prompted an investor rotation …

Iran#039s trade delegation to visit Denmark

Iran's trade delegation to visit Denmark

Iran's trade delegation is going to visit Denmark in the near future, Tehran Chamber of Commerce informed. The organization noted that the level of trade deals between the two countries has increased by 60% over the past year. …

EU plans to extend anti-Russian sanctions for six months

EU plans to extend anti-Russian sanctions for six months

The European Union plans to renew asset freezes and travel bans against key allies of Russian President Vladimir Putin who are accused of destabilizing Ukraine, at a time when Donald Trump is weighing warmer ties …

Turkey increasingly important oil, natural gas transit hub

Turkey increasingly important oil, natural gas transit hub

It has avoided lasting economic stagnation

NIOC Says Iran Crude Output to Hit 4mbd by March

NIOC Says Iran Crude Output to Hit 4mbd by March

Managing Director of National Iranian Oil Company (NIOC) Ali Kardor says Iran's crude oil production will reach 4 million barrels per day by the end of the current Iranian calendar year to March 20 2017, Shana news agency reports. …

Oil creeps higher In response to new US sanctions on Iran

Oil creeps higher In response to new US sanctions on Iran

The package of sanctions was formulated in a way that would not violate the 2015 Iran nuclear deal

Iran to hold tender for oil, natural gas fields in mid-February

Iran to hold tender for oil, natural gas fields in mid-February

Iran will launch new contracts to develop oil and natural gas fields in mid-February in the country's first such tender since the lifting of international sanctions a year ago, an oil official said on Saturday, Reuters reported. …

Why China won#039t replace the U.S. as the world#039s superpower

Why China won't replace the U.S. as the world's superpower

It takes more than a power vacuum and rising economic status to establish a global hegemony

Mexico, Turkey agree to speed up negotiations on free trade agreement

Mexico, Turkey agree to speed up negotiations on free trade agreement

Amid looming collapse of the North American Free Trade Agreement (NAFTA), Mexico has intensified talks with its partners on creation of new free trade zones. Mexican and Turkish authorities have agreed to step up the negotiations …

Georgia#039s inflation rises 2.9 pct month-on-month in January

Georgia's inflation rises 2.9 pct month-on-month in January

Consumer prices in Georgia were up 2.9 percent in January in month-on-month terms after rising by 1.0 percent in December, Reuters reported. This information was published by the Georgian State Statistics Service in its report. …

Alexander Abramov: There#039s every reason for Russian Central Bank to lower interest rate

Alexander Abramov: "There's every reason for Russian Central Bank to lower interest rate"

Professor of the Higher School of Economics on the decision of Central Bank to leave interest rate at 10% level

Oil increases on worries over new US anti-Iranian sanctions

Oil increases on worries over new US anti-Iranian sanctions

Brent crude futures were up 30 cents to $56.86 a barrel by 1050 GMT, after settling 24 cents lower at $56.56 in the previous session. Brent was on track to gain more than 2% on the week, its first significant weekly rise this year. …

Lukashenko wants to reduce Russian gas price

Lukashenko wants to reduce Russian gas price

Belarus has the right for a reduction of the Russian gas price due to lower global oil prices, the country's President Alexander Lukashenko said. “Gas is tied to oil. When oil stood at $120, everything was …

Russian finance ministry announces volume of currency purchase operations

Russian finance ministry announces volume of currency purchase operations

The Russian central bank will buy the equivalent of 6.3 billion rubles ($106 million at current market prices) a day on the Moscow Exchange this month to replenish the country's fiscal reserves, the Russian finance ministry said. …

Russian Central Bank keeps key rate unchanged

Russian Central Bank keeps key rate unchanged

The board of directors of Russia’s Central Bank decided to keep the key rate at 10% per annum at its first board meeting in 2017 on Friday. Inflation performance has been generally in line with the forecast, the regulator said in …