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…

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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,…

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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…

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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: export duty on wheat annulled

The Russian government has annulled the wheat export duty for two years, Prime Minister Dmitry Medvedev said. “We have decided to annul the wheat export duty for the next two years. The grain market will receive an additional stimulus for growth as the result of this”, Medvedev said. Russia imposed the wheat export duty on…

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