Yerevan, 24.April.2018,
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Economy

Oil prices fall; Iran, China to discuss supplies
Brent crude prices fell almost $1 a barrel on Tuesday, with an Iranian delegation in Beijing this week to push for more oil sales. Oil markets were also pressured as Goldman Sachs said prices needed to remain low for months to achieve a slowdown in U.S. output growth. China is Iran's largest trade partner and also its largest oil client, having bought roughly half of Iran's total crude exports since 2012, when sanctions against Iran were tightened. Brent May crude LCOc1 had dropped almo...
Lagarde welcomes loan payment commitment from Athens
International Monetary Fund chief Christine Lagarde has welcomed news that Athens will make a loan payment due to the IMF this week. On Sunday, Greece's finance minister Yanis Varoufakis said his country intended to meet "all obligations to all its creditors, ad infinitum". His comments followed a meeting in Washington with International Monetary Fund officials. It has been almost five years since the start of the Greek bailout. Ms Lagarde said in a statement on Sunday that she and M...
Ukraine agrees cheaper short-term gas deal with Russia
Ukraine has signed a new short-term agreement to buy gas from Russia at a lower price, despite the ongoing conflict in the east of the country. Ukraine will pay $248 per thousand cubic metres over the next three months down from the $329 it had been paying in the first quarter of this year. Talks will continue to find a permanent solution to the long-running pricing dispute. Ukraine said it would still be required to pre-pay Russia for its gas supplies. Kiev accuses Moscow of support...
Greece worries compound euro's record quarterly fall
The euro remained on track for its biggest quarterly fall and European shares for their best first quarter of the euro era on Tuesday, as worries about Greece's finances kept the single currency under pressure. The European Central Bank's 1 trillion euro quantitative easing programme, launched this month, has prompted investors to pile into euro zone shares on bets a weak euro, low borrowing costs and cheap oil will drive a surge in company profits. There was a 0.5 percent dip on the pan-E...
Oil extends losses as deadline for Iran nuclear deal looms
Oil futures extended losses on Tuesday, as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal that could ease sanctions and allow more Iranian crude onto world markets. With a deadline less than 24 hours away, United States, Britain, France, Germany, Russiaand China were trying to break an impasse in negotiations aimed at stopping Iran from having the capacity to develop a nuclear bomb, in exchange for an easing of international sanctions. Officials sa...
Hungary slashes reverse gas supplies to Ukraine by 28% from March 25
Hungary reduced reverse supplies of natural gas to Ukraine from March 25, the Hungarian gas transport system operator FGSZ Ltd said on Monday. Reverse supplies declined to 3.7-4.7 mln cubic meters a day from March 25 as compared to 6.7 mln cubic meters a day exported earlier, the company said. Hungary resumed reverse gas supplies to Ukraine after the winter break. Deputy Director of the National Energy Security Fund Alexey Grivach told TASS earlier that the reverse gas price for Ukraine...
Ukraine's Naftogaz suggests extending 'winter package' of gas deals with Russia
Ukraine's major gas company, Naftogaz, has suggested extending the winter package of agreements on gas supplies from Russia until next winter, runs the company's statement. The company stresses that the initiative belongs to the European Commission. A letter has been sent to Russia's Gazprom informing of the proposal. European Commission's Vice President Maros Sefcovic has informed the Ukrainian and the Russian side of the commission's readiness to hold a trilateral meeting in Brussels in ...
UK risks economic blow outside EU - Open Europe study
Leaving the EU could cost the UK economy 2.2% of total output (GDP) by 2030, a study by the think-tank Open Europe says. That would be the worst-case "Brexit" scenario, the study concludes. But GDP could rise by 1.6% if the UK negotiated a free trade deal with Europe and pursued "very ambitious deregulation". Open Europe backs the UK Conservatives' call for far-reaching reform of the EU. A UK in/out referendum on EU membership might take place by the end of 2017. UK Prime Minister Da...
Presidential residence dissatisfied with Pavel Safaryan’s actions: Irates
Irates paper writes that according to circulating news during the recent period the activity of the first deputy finance minister Pavel Safaryan has raised serious dissatisfaction in the presidential residence. In particular the dissatisfaction is agreed with the Armenian state budget formed by him. Safaryan who works in the ministry for quite ling is the author of the state budget drafts for many years. In the first quarter it became clear that the budget indexes are not realistic at all. I...
Oil slips close to $55 as Saudi output rises to near record
Oil prices declined on Monday, holding near $55 a barrel after Saudi Arabia indicated it was now pumping near a record high of 10 million barrels per day, adding to concerns of global oversupply. Saudi Arabia has stood firm on output, saying it would only consider cutting it if other producers outside OPEC also joined. Brent crude oil futures were trading down 21 cents at $55.11 a barrel at 1217 GMT, after hitting a low of $54.12. U.S. WTI crude was down 55 cents at $46.02. Saudi oil mi...
Serious control over NGOs and mass media getting money from abroad established
Months ago the Armenian Noah’s Ark Russia-based magazine conducted an interview with the Russian ambassador to Armenia Ivan Volynkin who said that Russia must more actively state about its presence in Armenia’s information field. “It is necessary to neutralize the NGOs acting in Armenia and trying to harm Armenian-Russian relations in other way. For instance in Russia a law has been adopted which clearly regulates the activity of the NGO. It is obvious that those who direct their activity ag...
Lagarde says IMF to co-operate with China-led AIIB bank
International Monetary Fund chief Christine Lagarde has said the IMF would be "delighted" to co-operate with the China-led Asian Infrastructure Investment Bank (AIIB). The AIIB has more than 30 members and is envisaged as a development bank similar to the World Bank. Mrs Lagarde said there was "massive" room for IMF co-operation with the AIIB on infrastructure financing. The US has criticised the UK and other allies for supporting the bank. The US sees the AIIB as a rival to the World ...
Greek and German leaders meet amid cash shortage fears
Greek Prime Minister Alexis Tsipras is due to meet German Chancellor Angela Merkel amid mounting concern that Athens is running out of money. The two countries have been at odds over Greece's efforts to renegotiate the terms of its international bailout. The Financial Times reported on Sunday that Mr Tsipras had warned Mrs Merkel it could not meet imminent debt payments without new aid. But Mrs Merkel said on Friday there would be no new money without reforms. Spain's Economy Minister,...
Creation of Eurasian Economic Union well-timed amid economic crisis — Belarus pr...
Belarus President Alexander Lukashenko thinks the creation of the Eurasian Economic Union (EEU) was a very well-timed decision amid the crisis in the global economy. "As for the formation that we created, meaning the Economic Union, time shows that we took the initiative in due time to create the Economic Union," he said at a meeting with Russian President Vladimir Putin and his Kazakh counterpart Nursultan Nazarbayev. Alexander Lukashenko acknowledged that all three countries have to resp...
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