Economy

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GUAM countries to create free trade zone

The foreign ministers of the member countries of the Organization for Democracy and Economic Development (GUAM), comprising Georgia, Ukraine, Azerbaijan and Moldova, participated in a ministerial meeting in Georgian capital of Tbilisi today …

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US and Turkey mutually suspend visa services

The United States and Turkey have suspended all non-immigrant visa services for travel between the two countries, after last week's arrest of a US consulate employee in Istanbul. "Recent events have forced the United States …

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Iran's trade office to be opened in Astrakhan

Iran's trade delegation headed by the chairman of the Iran-Russia Chamber of Commerce Asadollah Asgaroladi will visit Russia's Astrakhan on October 23. The delegation will arrive in Astrakhan as the Russia …

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Russia to build trading house on Iran-Armenia border

Russia will build a trading house in Armenia on the border with Iran, which means a joint agreement signed with the Russian Export Center on work in the Free Economic Zone (FEZ) in Armenia, the president of the public organization …

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Moscow Exchange to start trading Turkish lira

The Moscow Exchange plans to start trading the Turkish lira and the Japanese yen against the Russian rouble next year, the head of currency market development at the exchange Dmitry Piskulov said. Piskulov said …

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 IMF to upgrade its outlook for global growth

The head of the International Monetary Fund Christine Lagarde said that 'the long-awaited global recovery is taking root' and that three-quarters of the globe is enjoying an economic upswing in 'the …

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Russia stocks up with dollars

Russian companies increased their foreign exchange reserves in cash, Russia's Central Bank said. As of July 1, 2017, the total amount of foreign exchange reserves in cash in Russian banks and other sectors amounted to $59.8 billion, …

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Gazprom agrees to open office in Azerbaijan

Gazprom Board of Directors agreed to open an office in Azerbaijan, Interfax reported. Gazprom exported gas to Azerbaijan in 2000-2006. However, due to launch of Shahdeniz field, the gas export to Azerbaijan has been stopped since …

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Record U.S. Oil Exports Weigh On Oil Prices

EIA data about U.S. crude oil exports showed these had hit a record-high of 1.98 million bpd. This is the highest weekly average since exports were once again allowed, after a four-decade ban. Last week’s figure also beat the …

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Will Kurdish oil be blocked?

Turkey, Iran and Iraq will jointly decide on closing the flow of oil from northern Iraq, Turkish President Recep Tayyip Erdoğan said, as the three neighbors mull retaliatory moves after the Kurdistan Regional Government (KRG) …

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