Category: Business & Economy

Gazprom eyeing gas project in Argentina

Gazprom eyeing gas project in Argentina

© Vitaliy Nevar/TASS MOSCOW, April 22. /TASS/. Gazprom considers the possibility of acquiring a stake in one of the key producing assets of Argentina’s YPF, the company said on Monday. “Gazprom Group is considering the possibility of implementing projects in Argentina, including those related to the development of unconventional gas reserves. We are currently evaluating acquiring a stake in one of the main gas production assets in state-controlled oil and gas company YPF”, the company said. It was reported earlier that Gazprom showed interest in the Estacion Fernandez Oro deposit, developed by YPF. In the fall of 2015, Gazprom and YPF signed an agreement on cooperation…

Read More »
Samsung delays media events for Galaxy Fold smartphone in China — media

Samsung delays media events for Galaxy Fold smartphone in China — media

© AP Photo/Kelvin Chan SEOUL, April 22. /TASS/. Samsung Electronics has delayed media events for its Galaxy Fold smartphone scheduled in Hong Kong and Shanghai for Tuesday and Wednesday, South Korea’s KBS TV channel said on Monday with reference to a Samsung official. The move follows several reports by tech reviewers that that the pre-release units they received were broken. The company itself has not yet provided its own commentary on that. Samsung Electronics said last week that it is studying reports of damage to the main display of some of its foldable Galaxy Fold smartphones. The screens broke when they tried to remove the polymer…

Read More »
Gazprom plans to grow shelf gas reserves by 2 trillion cubic meters in 2019-2022

Gazprom plans to grow shelf gas reserves by 2 trillion cubic meters in 2019-2022

MOSCOW, April 22. /TASS/. Gazprom plans to increase gas reserves on shelf by 2 trillion cubic meters in 2019-2022, the company said on Monday. “In 2019, geological exploration on the Russian shelf will continue. In particular, it is planned to build two new wells on Skuratovsky and Leningradsky license areas. In 2019-2022, seven wells are expected to be completed on the Kara Sea shelf, and more than 10,000 sq. km of 3D seismic exploration at the Nyarmeisky, Skuratovsky, Amderminsky, Beloostrovsky and Zapadno-Sharapovsky areas. Planned growth of reserves in 2019-2022 will exceed 2 trillion cubic meters of gas,” the company said. In other media

Read More »
Yalta forum has helped Crimea win over more friends, says Crimea’s head

Yalta forum has helped Crimea win over more friends, says Crimea’s head

Sergei Aksyonov © Sergei Fadeichev/TASS LIVADIA /Republic of Crimea/, April 20. /TASS/. The Yalta International Economic Forum has helped Crimea make more friends and reassured its residents that they are not doomed to suffer from the sanctions, Crimea’s head, Sergei Aksyonov, said on Saturday. “We saw how many allies we have. Today we understand that we are not doomed by the sanctions,” he told a conference titled “Sanction World. Global Challenges” held within the framework of the 5th Yalta International Economic Forum. He called on Friends of Crimea clubs to consolidate efforts to have the sanctions lifted. “Let us work out a plan of action to…

Read More »
Friends of Crimea Association to help foreign businessmen organize business in Crimea

Friends of Crimea Association to help foreign businessmen organize business in Crimea

YALTA /Republic of Crimea/, April 20. /TASS/. The Friends of Crimea Association, which is represented in tens of world nations, plans to launch a website by this summer to consult those willing to do business in Crimea on how to do that, Jan Carnogursky, Slovakia’s former prime minister and chairman of the Slovakian-Russian Friendship Society, said on Saturday. “The Friends of Crimea International Association is looking for ways to overcome the sanctions. The association plans to launch a website in a couple of weeks and anyone willing to do business with Crimean companies but is afraid of the sanctions is welcome to write to us,”…

Read More »
Belarus to demand Russia’s Transnef compensate for supplies of low-quality oil

Belarus to demand Russia’s Transnef compensate for supplies of low-quality oil

MINSK, April 20. /TASS/. Belarus’ Belneftekhim concern plans to demand Russia’s Transneft oil company pay compensation for supplies of inferior-quality oil, Belneftekhim’s CEO Andrei Rybakov said on Saturday. “All possible consequences will be discussed with Transneft at a forthcoming meeting. The Belarusian side will insist on compensation mechanisms,” BelTA agency quoted him as saying. He said that the Mozyr oil refinery had been the first to report low-quality oil supplied from Russia. “Some sampled showed excess of chlor-organic compounds by 100 times. These compounds are characterized by high corrosion activity and can clog heat-exchange equipment and spoil expensive catalyst systems,” he said, adding that repairs…

Read More »
Over 100 agreements worth $3.3 bln signed at Yalta forum, says Crimean leader

Over 100 agreements worth $3.3 bln signed at Yalta forum, says Crimean leader

LIVADIA /Crimea/, April 20. /TASS/. More than 100 agreements totally worth 215 bln rubles ($3.3 bln) have been signed at the Yalta International Economic Forum (YIEF), Crimean head Sergei Aksenov told reporters on Saturday. “A total of 102 agreements worth 215 bln rubles,” he said. According to Aksenov, agreements in various fields have been made. Particularly, it is planned to implement projects on agriculture production and processing. “Four projects are already being implemented,” he said, adding that those are projects in industry, IT technologies and infrastructure sectors. Co-Chairman of the Delovaya Rossiya (Business Russia) association and Co-Chairman of the Yalta International Economic Forum (YIEF) Organizing…

Read More »
Belarus requests meeting with Transneft due to poor quality of Russian oil

Belarus requests meeting with Transneft due to poor quality of Russian oil

MINSK, April 20. /TASS/. Belarusian state-run Belneftekhim Concern has requested a meeting with Russia’s Transneft, saying that the quality of oil from Russia, transited via the Druzhba oil pipeline, has declined sharply. A spokesperson for the Belarusian State Concern for Oil and Chemistry (Belneftekhim Concern), Marina Kostyuchenko, said on Friday that processing this oil may lead to problems for oil refineries and requested “a special meeting with Transneft representatives to settle the situation.” “In the past few days, the quality of Russia’s Urals export brand transited to the oil pipeline leg of the Gomeltransneft Druzhba joint-stock company, has worsened sharply,” Kostyuchenko was quoted as saying…

Read More »
Lavrov slams US’ unceremonious interference in Nord Stream 2 project

Lavrov slams US’ unceremonious interference in Nord Stream 2 project

MOSCOW, April 19. /TASS/. The US’ interference in the implementation of the Nord Stream 2 gas pipeline project is unceremonious and arouses concern, Russian Foreign Minister Sergei Lavrov said at a meeting with members of the International Council on Cooperation and Investment on Friday. “The interference of the United States in the process of forming the Nord Stream 2 project is unceremonious. Look at regular public statements by the US ambassador in Berlin, who simply requires the German government to change its position and go against its own interests?” the Minister said. The Russian Foreign Minister recalled that the European Commission, that had initially received…

Read More »
Former Ugra bank owner Khotin placed under house arrest

Former Ugra bank owner Khotin placed under house arrest

MOSCOW, April 19. / TASS/. Moscow’s Basmanny Court has placed the former Ugra bank owner Alexey Khotin under house arrest until the mid-June, Tass correspondent reported from the court room on Friday. Khotin was arrested ealier on the charges of theft of 7.5 billion rubles. “The court has satisfied the petition of the investigative committee to chose house arrest intil June 18,” said Judge Yevgenia Nikolayeva. In other media

Read More »
Moscow invites Greek businessmen to actively invest in Russia, says transport minister

Moscow invites Greek businessmen to actively invest in Russia, says transport minister

THESSALONIKI /Greece/, April 19. /TASS/. Moscow invites Greek businessmen to invest in the Russian economy more actively, Transport Ministry Yevgeny Ditrikh said at a meeting of the Russian-Greek mixed commission on economic, industrial, scientific and technical cooperation in Thessaloniki. “We invite Greek partners to invest in the Russian economy more actively. Today Russia’s foreign investors are given a whole range of substantial incentives, among them special terms for establishing new production, subsidized tax regimes, providing access to infrastructure,” he said. According to the minister, the common economic space of the Eurasian Economic Union (EAEU) opens the widest opportunities for foreign companies planning to organize production…

Read More »
Abuse of US dollar status will adversely affect this currency, Lavrov says

Abuse of US dollar status will adversely affect this currency, Lavrov says

Russian Foreign Minister Sergey Lavrov © Valeriy Sharifulin/TASS MOSCOW, April 19. / TASS/. The unreliability of the American currency is evident in the conditions that have emerged on world markets as a result of US actions, said Russian Foreign Minister Sergey Lavrov on Friday at the meeting with members of the International Council on Cooperation and Investments. According to him, stability is important for business. “We are trying to pursue a constructive unifying foreign policy course, which is primarily aimed at providing the most favorable conditions for cooperation with foreign partners on a mutually beneficial basis,” Lavrov said. “However, unilateral sanctions, which bypass the UN Security Council…

Read More »
Arctic cooperation between Russia, China is realistic, says ambassador

Arctic cooperation between Russia, China is realistic, says ambassador

© Lev Fedoseev/TASS BEIJING, April 19. /TASS/. The future cooperation between Moscow and Beijing on joint exploration of the Northern Sea Route is challenging, but realistic, Russia’s Ambassador to China Andrey Denisov told a press conference on Friday. “The prospects of the Northern Sea Route exploration is challenging, but realistic, and it is no coincidence that our Chinese partners are so much interested in that. Without prospects, there would be no interest. It is hardly possible to send anyone there, to the north, for no special reason, only a serious economic interest and commercial considerations can encourage that,” he explained. The diplomat added that “huge investments…

Read More »
First high-speed highway in Siberia to be completed in Kuzbass by mid-August

First high-speed highway in Siberia to be completed in Kuzbass by mid-August

KEMEROVO, April 19. / TASS /. Kuzbass administration is planning to complete the construction of the last section of the highway between Kemerovo and Leninsk-Kuznetsky by August 2019, said Governor of the Kemerovo Region Sergey Tsivilev in his Instagram on Friday. “I visited the headquarters of the Kuzbass highway construction. The contractor reported on the work performed. The construction is on schedule, on August 15 we’re opening it up for traffic,” Tsivilev wrote. The construction of the Kuzbass highway began in 2005. A motorway with a permitted speed of up to 130 km/ h is under construction between Kemerovo and Leninsk-Kuznetsky, bypassing small settlements and…

Read More »
Russian automaker to start selling Lada cars in Mongolia by 2020

Russian automaker to start selling Lada cars in Mongolia by 2020

© Alena Selezneva/TASS BEIJING, April 19. /TASS/. The Russian automobile producer AutoVAZ will start selling Lada Xray Cross, Largus, Lada 4×4 and Granta models on the primary market in Mongolia, press service of the Russian embassy in Ulaanbaatar told TASS on Friday, citing a source in the company. Sales will be implemented in accordance with the agreement made by the company with Mongolia’s Russo Motors, which will deal with promotion of the Russian car brand in Mongolia. AutoVAZ is going to capture 15% of the Mongolian primary car market in a short term, the company said in a press release. The Russian automaker expects to be…

Read More »
Nornickel: New center for mine’s operational planning in Norilsk is due in summer 2019

Nornickel: New center for mine’s operational planning in Norilsk is due in summer 2019

KRASNOYARSK, April 19. /TASS/. A new center to manage the Oktyabrsky Mine (Norilsk industrial district) will begin working in summer, 2019, a representative of Nornickel’s Polar Division Vladimir Yerokhin told reporters on Friday. “The center of almost 500 square meters will be ready before end of June,” he said. “Investments in the project are 90 million rubles ($1.4 million), where 30 million is the cost of communications’ ‘filling’ and equipment.” The new center, which is equipped with modern systems, including three display walls, will improve the mine’s operations management, he added. The construction began in February, 2019, and presently “the third part of the work…

Read More »
Venezuela makes debt payment to Russia, says finance minister

Venezuela makes debt payment to Russia, says finance minister

Russian Finance Minister Anton Siluanov © Maxim Slutskiy/TASS TYUMEN, April 19. / TASS/. Venezuela has made another payment towards clearing its debt with Russia, worth 3 billion, which was supposed to come through back in March, Russian Finance Minister Anton Siluanov told reporters on Friday. “Yes, Venezuela paid us within the grace period,” Siluanov said. At the end of March, Venezuela, which is now experiencing a political and economic crisis, had to pay more than $ 100 million in debt to the Russian Federation. The country could transfer the payment within the month without financial consequences. In November 2017, Moscow and Caracas signed an intergovernmental protocol…

Read More »
China waiting for beginning of talks on Eurasian economic partnership deal with Russia

China waiting for beginning of talks on Eurasian economic partnership deal with Russia

BEIJING, April 19. /TASS/. China is looking forward to an early launch of negotiations on the Eurasian economic partnership agreement with Russia, Wang Kaixuan, Deputy Director of the Eurasian Affairs Department at the Chinese Ministry of Commerce, told reporters. He recalled that the parties had completed work on the agreement’s feasibility. “Now it has to be endorsed by the specialized agencies. China has already completed its internal procedures. We are now waiting for our Russian counterparts, after that we can immediately start the negotiations. I believe that will happen soon,” he said answering a question from TASS. Wang Kaixuan added that it was too early…

Read More »
Greece backs construction of TurkStream gas pipeline

Greece backs construction of TurkStream gas pipeline

SALONIKI /Greece/, April 18. /TASS./ Greece supports the construction of the TurkStream gas pipeline and any other Russian gas supply routes, Dimitrios Velanis, special adviser to the Prime Minister of Greece on relations with Russia and the countries of Eastern Europe, said in an interview with Russian journalists. On Thursday, the Greek city of Thessaloniki hosted the 12th session of the Russian-Greek commission on economic, industrial and scientific-technical cooperation. Velanis coordinates the work of the commission. “We support “Turkish Stream” and any other routes of Russian gas, as well as the participation of Russian energy companies in Greece, “he said stressed that energy is the…

Read More »
Putin invites French businesses to take part in Russia’s national projects

Putin invites French businesses to take part in Russia’s national projects

MOSCOW, April 18. /TASS/. Russian President Vladimir Putin at a meeting with French business delegates on Thursday reviewed the opportunities participation in Russia’s national projects would open up and invited French companies to cooperate. “Considerable opportunities are opening up in front of foreign investors in connection with the implementation of strategic national projects in Russia,” he said. “I would like you to know, although you are surely aware of what this is all about and let me say once again that the point at issue is hundreds of billions of dollars of capital investment into crucial branches of our economy.” Putin recalled that foreign firms…

Read More »
Cooperation with Crimea will help Syria break Western economic blockade, says minister

Cooperation with Crimea will help Syria break Western economic blockade, says minister

YALTA, April 18. /TASS/. The establishment of the Crimean-Syrian trade house will help Damascus to break the economic blockade of Western countries, Syrian Minister of Economy and Foreign Trade Samer al-Khalil said on Thursday. “We have to strengthen cooperation between the two countries in order to overcome the economic blockade,” he stressed. The minister noted that the Crimean-Syrian trade house would help Syria achieve this goal. “We are confident that this trade house will deepen and expand the economic and trade relations, raising their level and in this way, raising the level of political relations between the two countries,” he added. Al-Khalil pointed out that…

Read More »
Putin says Russia does everything for comfort of foreign investors

Putin says Russia does everything for comfort of foreign investors

© Mikhail Klimentyev/Russian Presidential Press and Information Office/TASS MOSCOW, April 18. /TASS/. Russian authorities are doing their best to create comfortable conditions for foreign investors’ work in the country, President Vladimir Putin said at a meeting with representatives of the French business community. “I repeatedly said that Russia is doing and will do [everything], so that foreign investors, including you, dear colleagues, have the maximum comfortable feeling,” the Russian leader said. Putin noted higher macroeconomic stability in Russia and the country being 31st in the World Bank’s Doing Business Rating. In other media

Read More »
2019 World Car of the Year and other hits from this year’s New York Auto Show

2019 World Car of the Year and other hits from this year’s New York Auto Show

The Jaguar I-PACE won the prestigious 2019 World Car of the Year award at this year’s New York International Auto Show. The Electric I-PACE also clinched wins in the Green Car and Car Design categories. Established in 2004, The World Car Awards takes place annually. The 2019 New York Auto Show runs from April 19-28 at the Javits Center in Midtown Manhattan. In other media

Read More »
Forbes publishes 200 richest Russian entrepreneurs list

Forbes publishes 200 richest Russian entrepreneurs list

Leonid Michelson © Mikhail Metzel/TASS MOSCOW, April 18. / TASS /. Forbes magazine has compiled the rating of 200 richest Russian entrepreneurs, topping the list is Leonid Michelson, the head of Novatek and Sibur shareholder, with a fortune of $24 billion. The Chairperson of the NLMK Board of Directors Vladimir Lisin, with a fortune of $ 21.3 billion is in second place. In 2018, Lisin was at the number one spot, but his fortune was estimated at $2.2 billion less. Lukoil president Vagit Alekperov is in the third spot, with $20.7 bln. The fourth and fifth places are occupied by the main owner of Severstal, Alexey…

Read More »
Coal, oil products to be exported to Ukraine under permits of Russian Economy Ministry

Coal, oil products to be exported to Ukraine under permits of Russian Economy Ministry

© Artiom Geodakyan/TASS MOSCOW, April 18. /TASS/. Coal and oil products will be exported to Ukraine under permits of the Russian Ministry of Economic Development from June 1 of this year, according to the decree of the Russian Government. Hard coal, briquettes, pellets and other kinds of solid fuel from hard coal, coke or semi-coke from hard coal, lignite or peat, and other coal products will be authorized for sales to Ukraine upon receipt of a permit. Supplies of gasoline, diesel fuel, propane, butane and other liquefied gases can also be made subject to the permit. The decree introduces a complete ban on oil export to…

Read More »
Yakutia invests more than $23 million in Clean Country regional project

Yakutia invests more than $23 million in Clean Country regional project

YAKUTSK, April 18. /TASS/. Yakutia will invest more than 1.5 billion rubles ($23 million) in the Clean Country regional project under the Ecology National Project, the regional government’s press service said on Thursday. “Yakutia will allocate for the Clean Country regional project under the federal Ecology program more than 1.5 billion rubles,” the press service said. By 2024, the region will close four illegal dumps in four cities and a most hazardous object – a storage of tailings at the former Kular gold-extraction plant in the region’s north. The closed plant is a potentially hazardous object, which still keeps toxic materials. The Ecology National Project…

Read More »
Russian Government bans import of clothing and footwear from Ukraine

Russian Government bans import of clothing and footwear from Ukraine

MOSCOW, April 18. /TASS/. The Russian Government published the list of goods banned for import from Ukraine. It comprises clothing, footwear, paper, tubulars and other products, according to the decree. The ban in introduced for importing paper, multilayer carton, certain kinds of tubulars and clothing (suits, jackets, sets, blazers, dresses, skirts, pants, overalls, bridges and shorts (except for swimming) for females and girls, etc., from Ukraine. In other media

Read More »
Russia’s SSJ-75 aircraft will be designed by 2024 — Industry and Trade Ministry

Russia’s SSJ-75 aircraft will be designed by 2024 — Industry and Trade Ministry

MOSCOW, April 18. /TASS/. The SSJ-75 aircraft, which is a modification of the SSJ-100 aircraft with a bigger share of Russian components, will be designed by 2024, Oleg Bocharov, Deputy Industry and Trade Minister, told reporters. Earlier on Thursday, the Kommersant newspaper reported that the United Aircraft Corporation was to shift the deadline of the project. “What dates are being moved up? Who told you? Nobody postponed the dates. We have an instruction from the president about 2024,” he said adding that 2024 is still the actual term. According to Bocharov, the SSJ-75 project is an import substitution project of an airliner, not a project…

Read More »
Putin to meet with Paris’ special envoy for Russia, French business community

Putin to meet with Paris’ special envoy for Russia, French business community

MOSCOW, April 18. /TASS/. Russian President Vladimir Putin will receive Jean-Pierre Chevenement, the French Government’s Special Representative for Relations with Russia, on Thursday, Kremlin Spokesman Dmitry Peskov told reporters. “Putin will have a separate meeting with the French Government’s Special Representative for Relations with Russia Chevenement,” he said. Besides, the Russian president’s schedule includes a meeting with French businesspeople. “Those will be members of the Economic Council of the Franco-Russian Chamber of Commerce and Industry,” Peskov noted. “You know that he met with them before as well. The last such meeting was held in Novo-Ogaryovo a couple of years ago.” The Kremlin spokesman stressed that…

Read More »
Russia bans exports of oil, petroleum products to Ukraine

Russia bans exports of oil, petroleum products to Ukraine

© Stanislav Krasilnikov/TASS GORKI, April 18. /TASS/. The Russian government has banned exports of Russian oil and petroleum products to Ukraine, Prime Minister Dmitry Medvedev said at a cabinet meeting on Thursday. “[The Russian government] bans exports of Russian oil and petroleum products to Ukraine,” the head of the cabinet said. Medvedev has also declared extension of the ban on imports of certain Ukrainian goods. “We are forced to protect our interests and strike back,” he said at a meeting of the cabinet when speaking about Ukrainian restrictions against Russia. “I have signed a government decree on that. We are expanding the ban on imports of…

Read More »