Azerbaijan: new Lifan cars to be assembled

New Lifan cars will be assembled at the Nakhchivan Automobile Plant (NAZ), the plant’s Director Musa Abdullayev said. This issue was discussed during the talks in Baku between the plant’s Director Musa Abdullayev and Director General of Lifan International Sun Zejun. Four-wheel drive Lifan X7 sport utility vehicle (SUV) and a minivan for 11 people…

Kazakhstan: capacity of major oil pipeline up

Kazakhstan completed the overhaul of its section of Tuimazy-Omsk-Novosibirsk-2 (TON-2) oil pipeline which allowed to increase its capacity from 7 to 10 million tons of oil per year, KazTransOil company reported. The pipeline section 185.6 km long was replaced within the overhaul work. The overhaul of TON-2 was conducted to ensure the reliable oil transportation…

Russia: data retention laws to help industry develop

Implementation of Russia’s controversial package of anti-terrorism laws, obliging telecom and Internet operators to store metadata, content of users’ talks and correspondence, will give an additional impetus for development of the domestic industry, Industry and Trade Minister Denis Manturov said. “I positively see (the laws), because we will have a stimulus to develop our industries…

Turkey: Baku, Ankara and Ashgabat ink Trans-Caspian route declaration

Azerbaijan, Turkey and Turkmenistan have signed the Ashgabat declaration to create the Trans-Caspian transport corridor from Beijing to London, Turkey’s Transport, Maritime Affairs and Communications Minister Ahmet Arslan reported. Arslan said the document was signed during the first meeting of transportation ministers of the three countries. The declaration was inked by Ahmet Arslan, Azerbaijani Deputy…

Azerbaijan to open new flights to attract tourists

In order to attract tourists to Azerbaijan, the ministries of economy, finance, culture and tourism, the Civil Aviation Administration and Azerbaijan Railways CJSC have been instructed to take measures to organize new advantageous international routes and inform Azerbaijan’s president on the issue. The Ministry of Culture and Tourism has been instructed to prepare the general…

Azerbaijan: passing through checkpoints to be eased

Azerbaijan will speed up the passage of foreigners and stateless persons through the border checkpoints with Russia, Turkey, Iran and Georgia, according to the decree signed by Azerbaijan’s President Ilham Aliyev on additional measures for developing tourism in the country. Jointly with the Foreign Ministry, State Customs Committee and the State Border Service, the Ministry…

Azerbaijan ahead of schedule on TANAP

The work within the Trans-Anatolian Natural Gas Pipeline (TANAP) project is underway in accordance with the plan, President of the Azerbaijani state oil company SOCAR Rovnag Abdullayev said. He said that there were no problems with the implementation of the project. “Partly, we are even ahead of schedule and 850 kilometers of pipes have been…

Azerbaijan invites Iranian businessmen for active co-op

Azerbaijan invites Iranian entrepreneurs to actively cooperate with local businessmen, said Azerbaijan’s Deputy Economy Minister Sahib Mammadov. Mammadov made the remarks during the Azerbaijani-Iranian business meeting in Baku. The meeting, organized by Azerbaijan Export and Investments Promotion Foundation (AZPROMO), was attended by more than 80 local and Iranian businessmen. Azerbaijani deputy minister said that Azerbaijan…

Russia: Uralkali board decisions

Uralkali, one of the world’s largest potash producers, announces the key decisions taken by its Board of Directors at a meeting on September 1. The board has approved of the list of candidates to be elected to the Board of Directors at Uralkali’s Extraordinary General Meeting (EGM), to be held on September 27: Dmitry Konyaev,…

Russia: 2016 GDP decline outlook worsened

Russia’s Economic Development Ministry has worsened its forecast for Russia’s gross domestic product (GDP) decline in 2016 to 0.5-0.6% from 0.2%, Minister Alexei Ulyukayev said.

The ministry’s basic forecast earlier implied a 0.2% GDP fall in 2016 with an annual average oil price of $40 per barrel. (Prime/Business World Magazine)

Russia: sunflower oil to get cheaper

Harvesting of sunflower and soybean has started in the southern regions of the Russian Federation and starting prices for raw materials of the new crop were announced in these regions. During last week Russian market of sunflower oil was characterized by a minimum volume of sales and a further decrease in producer prices. With increase…

Russia: gas wholesale domestic price to go up in 2017

The wholesale domestic price of Russian gas can increase by 2.5-3% in 2017, Deputy Economic Development Minister Nikolai Podguzov reported.

As regards the 2016 gas price increase, Podguzov said that the decision should be made by the Federal Antimonopoly Service. (Prime/Business World Magazine)

Russia: rapeseed crushing capacities up

Small-sized farm “Domashenkov A.G.” launched the first rapeseed crushing plant in Nizhegorodsk region with the project capacity of 12 KMT of rapeseed per day. Out of every MT of raw material the farmers plan to obtain 400 kg of vegoil and 600 kg of cake. According to Russian AgMin, thanks to the participation of farmers…