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In Iceland, Court Says a Girl Can Finally Use Her Name
01.02.2013 09:29
A 15-year-old girl has been granted the right to legally use the name given to her by her mother, despite the opposition of the authorities and Iceland's strict law on names. The Reykjavik District Court ruled Thursday that the first name of the girl, Blaer Bjarkardottir, could be used as a girl's name, overturning a decision by officials who declared that Blaer, which means light breeze, was not a proper feminine name. Like a few other countries, Iceland has official rules about what a baby can be named. Before the court's ruling, Blaer had been identified simply as "Girl" in communications with officials.
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  • Turkmenistan may expand Galkynysh gas field development
    27.11.2015 16:09
    Ashgabat, Turkmenistan, Nov. 27By Huseyn Hasanov- Trend:Turkmenistan in the near future intends to launch the third phase of development of the Galkynysh gas field and bring the production there up to 95 billion cubic meters of gas, chairman of the Turkmengas state concern Ashirguly Begliyev said.He...
  • Azerbaijan expects no sensational decisions by OPEC
    27.11.2015 17:11
    Baku, Azerbaijan, Nov. 27By Maksim Tsurkov - Trend:Azerbaijan doesn't expect any sensational decisions from the upcoming December meeting of the Organization of the Petroleum Exporting Countries (OPEC), the country's energy minister Natig Aliyev told reporters Nov.27.The OPEC meeting will be...
  • Turkey exceeded its limits
    27.11.2015 15:47
    Baku, Azerbaijan, Nov. 26Trend:Moscow thinks that Ankara has exceeded its limits, Russian Foreign Minister Sergey Lavrov said, RIA Novosti reported."We think that the Turkish leadership has exceeded its limits," Lavrov said. "Turkey may face some problems in terms of long-term national interests and...
  • Turkmenistan plans to issue state bonds
    28.11.2015 15:05
    Ashgabat, Turkmenistan, Nov. 28

    By Huseyn Hasanov- Trend:

    The ministry of finance of Turkmenistan plans to launch the release of a certain amount of bonds of the state fund starting from 2016, said the message of the government of Turkmenistan.

    This issue was raised at the last meeting of the cabinet of ministers of Turkmenistan, during which deputy prime minister Byashim Khojamammadov presented his report.

    The bond issue is provided in accordance with the Budget Code and the laws governing the relations that arise during the issue and circulation of securities. In this regard, Turkmenistan works on preparing drafts of the relevant legal acts regarding the issue, distribution and return of the bonds.

    President of Turkmenistan Gurbanguly Berdimuhammadov, summarizing the report, noted the importance of the development of the securities market to attract funds the budget, the inflow of capital to modernize production, ensure stability of the financial system of the country.

    "This will expand the range of financing sources and will become one of the key mechanisms for further economic growth and increase of welfare of the citizens of Turkmenistan," he said.

    In 2014, the law "On Securities Market" entered into force in Turkmenistan.

    This law regulates relations arising during the issuance and circulation of securities in Turkmenistan and is aimed at ensuring effective functioning of the securities market, development of the country's market economy.

    The articles of the law stipulate that the cabinet of ministers of Turkmenistan determines the unified state policy in the field of securities market, new types of securities, which are planned to be issued and put into circulation on the market.

    In addition, the government approves state program of development of securities market, emission regulations and establishes annual quotas and conditions for admission to circulation on the local market of securities issued by foreign issuers.

    The law states that the circulation of securities, as well as under the mediation, is carried out at market prices. At the same time, the exchange rate value of shares and derivative securities is determined in the national currency of Turkmenistan.

    An article on gradual transition to market economy is included in the constitution of Turkmenistan, which was updated in recent years.

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  • Presidents of Azerbaijan, Belarus have one-on-one meeting
    28.11.2015 14:50
    Baku, Azerbaijan, Nov. 28


    A one-on-one meeting was held Nov. 28 between presidents of Azerbaijan and Belarus, Ilham Aliyev and Alexander Lukashenko, following an official welcoming ceremony in Minsk.

    During the meeting, the parties exchanged views on bilateral relations and issues of mutual interest.

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  • SP cuts national scale rating on VTB Bank Kazakhstan
    28.11.2015 14:50
    Baku, Azerbaijan, Nov. 28

    By Aygun Badalova - Trend

    Standard amp; Poor's Ratings Services lowered its long-term Kazakhstan national scale rating on VTB Bank Kazakhstan to 'kzA' from 'kzA '.

    At the same time, Samp;P affirmed its 'BB/B' long- and short-term counterparty credit ratings on the bank. The outlook remains negative, the report of Samp;P said.

    The lowering of the national scale rating reflects the view of Samp;P that the bank's asset quality is weakening.

    "This is demonstrated by the increase of its nonperforming loans to 11.4 percent of total loans on Oct. 1, 2015, under local standards, from 5.4 percent at the beginning of the year," the report said.

    Samp;P believes that the loan portfolio's quality will likely deteriorate further in 2016, given the difficult economic conditions in Kazakhstan. Samp;P also sees as a risk the concentration of the loan portfolio, with the 20 largest borrowers accounting for 35 percent of total loans and 2.3x the bank's total adjusted capital at midyear 2015.

    Although this is comparable with local peers' concentrations, it is still high in an international comparison, according to the report.

    Samp;P also expects that the bank's capital ratios will be under pressure over the next two years, despite a significant capital injection of Kazakhstani tenge 7.375 billion (about $24 million) that the bank expects to receive by the end of 2015.

    Samp;P forecasts its risk-adjusted capital ratio for the bank--before adjustments for concentration and diversification--at 5.6-6.6 percent over the next 12-18 months, under the weight of elevated credit costs of 3.0-3.5 percent of total loans and a net operating margin of 6.0-6.5 percent.

    At the same time, Samp;P believes that VTB Bank Kazakhstan will remain a highly strategic subsidiary of VTB Bank JSC and continue receiving operational, managerial, and financial support from its parent under almost all foreseeable circumstances.

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  • Minsk hosts official welcoming ceremony for President Aliyev
    28.11.2015 14:40
    Baku, Azerbaijan, Nov. 28


    An official welcoming ceremony was held for Azerbaijan's President Ilham Aliyev Nov. 28 in the Independence Palace in Minsk, Belarus.

    A guard of honor was lined up for the Azerbaijani president in the square decorated with flags of Azerbaijan and Belarus.

    Belarusian President Alexander Lukashenko met Azerbaijani president.

    The two countries' national anthems were performed. Chief of the guard of honor reported to President Aliyev.

    Then, the representatives of state and government of Belarus were introduced to President Aliyev, and the Azerbaijani delegation was introduced to President Lukashenko.

    The guard of honor then passed in front of the presidents being accompanied by a military march.

    Afterwards, the presidents posed for official photos.

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  • Explosion in Iranв's Isfahan leads to casualties, destructions
    28.11.2015 14:10
    Baku, Azerbaijan, Nov. 28

    By Temkin Jafarov - Trend:

    A gas leak in a house in Iran's city of Isfahan led to explosion and casualties, ISNA reported Nov. 28.

    Reportedly one person was killed in the blast. The disaster also injured two people, who were later admitted to a hospital.

    The house, where the gas leakage occurred, as well as another nearby house were completely destroyed in the explosion.

    Stay up to date with latest Iran news on our specialized Facebook page

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  • President Aliyev visits Belarusian Great Patriotic War Museum
    28.11.2015 14:10
    Baku, Azerbaijan, Nov. 28


    Azerbaijan's President Ilham Aliyev visited the Belarusian State Museum of the Great Patriotic War on Nov. 28. The head of state was provided with information regarding the museum.

    President Ilham Aliyev then viewed the photos reflecting the introduction of this museum to Azerbaijan's national leader, Heydar Aliyev.

    Azerbaijan's president also left a note in the museum's memorial book.

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  • NATO not to drag into growing Turkey-Russia tensions - analyst
    28.11.2015 13:47
    Baku, Azerbaijan, Nov. 28


    Amid the growing tension in Turkey-Russia relations, NATO is unlikely to be dragged into this bilateral issue between the two countries, Amanda Paul, the senior policy analyst at the European Policy Centre (EPC) said on "This Week in Focus" program.

    "This reflects the situation in Syria where there is still hope for broader cooperation in the fight against the IS (ISIL or ISIS)," Paul said.

    Speaking about the Turkey-downed Russian Su-24 bomber, the analyst said that judging from the radar picture released by the Turkish authorities immediately after the incident, it was clear that that bomber was in the country's airspace.

    "Russians can be extremely economical with the truth," Paul said, adding that it is not surprising that Russia said the bomber was in Syria's territory.

    She further spoke on the Syrian crisis and the IS.

    "Despite the fact that Russia says that it primarily targeting the IS, and they are, still the majority of time has been spent targeting the opposition groups, which are supported by the West," she said.

    Paul believes such actions hamper attempts for a broader international cooperation on the issue.

    Meanwhile, Russia's operations in Syria cost billions for the country, Paul said. "Russia is already hurting economically, but the policy of Putin is that strategic objectives outweigh economic considerations."

    The Turkish Air Force shot down the Russian military planes SU-24 in its airspace Nov. 24.

    Both pilots managed to eject and the plane crashed on the territory of Syria.

    On September 30, Russia began air strikes on IS in Syria following Syrian President Bashar Assad's request for military assistance. Russia fired a total of 26 long-range missiles from ships in the Caspian Sea at targets in Syria on Oct. 7, targeting the IS.

    You can follow the program on Twitter or Facebook. The program has its own channel onYoutube.

    To learn more about the topic, check out the full episode below.

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  • Some 70% of Iranв's recoverable oil reserves not developed
    28.11.2015 13:47
    Tehran, Iran, Nov. 28

    By Mehdi Sepahvand, Umid Niayesh- Trend:

    Some 70 percent of Iran's recoverable oil reserves are not developed, Roknoddin Javadi, deputy Oil Minister of the Islamic Republic said.

    He made the remarks in a conference which is held in Tehran to present the country's newly designed oil contracts, called the Iran Petroleum Contract (IPC), Trend's Tehran correspondent reported.

    Some of the world's biggest names in oil, gas, and petrochemicals industries gathered in Tehran Nov. 28 to attend the conference, during which Iran's Oil Ministry unveiled its IPC model contracts. Over 300 companies attended the event.

    Javadi further said that holding 345 billion oil equivalent barrels of recoverable crude oil and gas reserves, Iran possesses the world's largest reserves of oil and gas.

    The IPC contracts can provide an opportunity for the Islamic Republic to develop its unused recoverable oil and gas reserves, he said.

    Iran holds 10 percent of global crude oil reserves equal to 158 billion barrels, Javadi said, adding the country has the potential to double its current output. The official further said that the Islamic Republic possesses the world's largest proven natural gas reserves, at 34 trillion cubic meters, or 18 percent of the world's total proven reserves.

    Javadi, who is managing director of the National Iranian Oil Company (NIOC), said that about 50 upstream projects in oil, gas, and petrochemicals will be introduced to the foreign investors.

    He further said that three important projects including development of Farzad B gas field as well as Yadavaran Phase 2 and Azadegan North Phase 2 oil fields are excluded from the projects because there are some ongoing negotiations about the three fields' development.

    If the negotiations fail, the three fields' development will be introduced to investors during the next tenders, Javadi added.

    Explaining the IPC contracts, Javadi earlier said that like buyback agreements, IPC is a form of purchasing service.

    "The major difference between Iran's new contracts and buyback contracts remain that the developer contractor will be present for 15 to 20 years after the completion and launch of the project," Javadi said, adding the company in charge of engineering and development of the project should be held responsible during the period because their income depends upon the revenue generated from the project rather than being subject to its completion.

    Stay up to date with latest Iran news on our specialized Facebook page

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  • Azerbaijani oil prices for November 23-27
    28.11.2015 13:31
    Baku, Azerbaijan, Nov.28

    By Maksim Tsurkov - Trend:

    The average price for AZERI LT, exported from Azerbaijan via the Turkish port of Ceyhan and Georgian Batumi and Supsa ports, was $46.01 per barrel on Nov.23-27 or $2.05 per barrel more than the previous week.

    The maximum price for AZERI LT, which is produced at the Azeri-Chirag-Guneshli block of Azerbaijani fields, was $46.57 per barrel and the minimum price was $45.84 per barrel during the reporting period.

    AZERI LT is delivered to Ceyhan via the BTC and to Georgia - via the Baku-Supsa pipeline, as well as by rail. In 2016 Azerbaijan plans to produce an average of 0.87 million barrels of AZERI LT per day.

    The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port stood at $41.17 per barrel or $2.83 per barrel more than the previous week.

    The maximum price for Urals totaled $41.52 per barrel and the minimum - $40.63 per barrel on Nov.23-27.

    Azerbaijan sells oil at this Russian port, which is delivered via the Baku-Novorossiysk pipeline. In 2016, the SOCAR state company plans to pump 1.4 million tons of oil through this pipeline.

    The average price for Brent Dated was $44.09 per barrel or $2.4 per barrel more than the previous week.

    The maximum price for Brent was $44.63 per barrel and the minimum - $43.85 during the reporting period.

    International financial institutions forecast that in 2016, the average price for Brent will be $55-$60 per barrel compared to $53-$55 per barrel in 2015.

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  • Gunmen attack UN base in Mali, casualties reported
    28.11.2015 13:08
    Gunmen attacked and fired rockets at a UN peacekeeping base in Kidal in northern Mali on Nov. 28, causing an unspecified number of casualties, Reuters reported citing a spokesman for the UN force in Mali (MINUSMA).

    "The attack happened at around 4 a.m. (0400 GMT). Four or five rockets landed inside the base. Quite a few people were wounded but it's too early for a precise number," MINUSMA spokesman Olivier Salgado told Reuters.

    French troops and the UN force are struggling to stabilize the former French colony where Islamist militants attacked a hotel in the capital on Nov. 20 and killed 20 people.

    Three Islamist militant groups - al Qaeda in the Islamic Maghreb (AQMI), its splinter group al Mourabitoun and Massina Liberation Front (MLF) - claimed the attack on the Radisson Blu hotel. Security analysts say they could be collaborating.

    Northern Mali was occupied by Islamist fighters, some with links to al Qaeda, for most of 2012. They were driven out by a French-led military operation, but violence has continued.

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  • Armenia violates ceasefire with Azerbaijan 110 times a day
    28.11.2015 12:50
    Baku, Azerbaijan, Nov.28


    Armenian armed forces have broken the ceasefire with Azerbaijan 110 times in various parts of the contact line between Azerbaijani and Armenian armies in the last 24 hours, Azerbaijani defense ministry said Nov.28.

    Azerbaijani positions located in the Gizil Hajili village of Gazakh district took fire from the positions located in the village of Berkaber of Armenia's Ijevan district.

    Meanwhile, Armenian armed forces located on the nameless heights of Armenia's Krasnoselskiy district, opened fire at the positions of Azerbaijani armed forces located on the nameless heights of Gadabay district.

    Another ceasefire violation came from the positions located near the villages of Talish, Gulustan of Goranboy district, Chileburt of Terter, Shikhlar, Kengerli, Sarijali, Shuraabad, Yusifjanli of Aghdam district, Kuropatkino of Khojavend, Horadiz, Garakhanbeyli, Ashagi Seyidahmadli, Ashagi Veysalli of Fizuli district, Mehdili of Jabrayil district.

    Moreover, Azerbaijani positions underwent fire from the positions located on the nameless heights of Goygol, Goranboy, Khojavend, Fizuli and Jabrayil districts.

    Azerbaijani armed forces carried out 120 strikes on enemy positions.

    The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.

    The two countries signed a ceasefire agreement in 1994. The co-chairs of the OSCE Minsk Group, Russia, France and the US are currently holding peace negotiations.

    Armenia has not yet implemented the UN Security Council's four resolutions on the liberation of the Nagorno-Karabakh and the surrounding regions.

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  • President Aliyev pays tribute to Great Patriotic War Victory in Minsk
    28.11.2015 12:26
    Baku, Azerbaijan, Nov. 28


    During an official trip to Belarus, Azerbaijan's President Ilham Aliyev visited on Nov. 28 a monument in Minsk, dedicated to the Victory in the Great Patriotic War of 1941-1945.

    A guard of honor was lined up for the president on the square.

    President Aliyev laid a wreath at the monument.

    Afterwards, the national anthems of Azerbaijan and Belarus were performed.

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  • Iran Petroleum Contract draws attention to buyback
    28.11.2015 12:10
    Tehran, Iran, Nov. 28

    By Mehdi Sepahvand - Trend:

    Iran's Oil Minister Bijan Zanganeh said his country's newly designed oil contracts, called the Iran Petroleum Contract (IPC), attract attention to buyback contracts.

    Speaking in a conference, which presented the contracts, Zanganeh said the IPC is designed as a way to make up for the inefficiencies in Iran's previous contracts (buyback), Trend correspondent reported from the event venue Nov. 28.

    "The contracts are seeking win-win deals among the Oil Ministry and companies that are to carry out related projects," he noted.

    He added that Iran plans to constantly increase recovery and boost the abilities of the private sector by having foreign companies choose Iranian contractors, and enhance Iran's technological capabilities in the oil industry.

    "Past experience with oil contracts made us design the new contracts in a bid to secure the interests of both the buyer and the seller," he stressed.

    "This is a suitable time for the unjust sanctions to be lifted to show that they have been damaging both the buyer and the seller," noted the Iranian minister.

    He also said that through the contracts, Iran intends to boost recovery and extraction of hydrocarbon resources.

    Some of the world's biggest names in oil, gas, and petrochemicals industries gathered in Tehran Nov. 28 to attend a conference, during which Iran's Oil Ministry will unveil its new contracts, called the IPC.

    Out of the 335 companies attending, 152 will come from abroad, Shana agency quoted Mehdi Hosseini, head of the Tehran Conference, as saying Nov. 27.

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  • Turkish businessmen in Russia alarmed '" Kremlin
    28.11.2015 11:20
    Baku, Azerbaijan. Nov. 28


    Turkish business associations working in Russia are alarmed after the attack of a Turkish F-16 on a Russian Su-24 in Syria, according to Dmitry Peskov, Russian presidential spokesman.

    Peskov's remarks come in the aftermath of downing of a Su-24 bomber of Russia by the Turkish Air Force on Nov. 24.

    "We are currently receiving a lot of signals from various public organizations - from the Turkish business associations working here, they are literally ringing alarms," RIA Novosti quoted him as saying Nov. 28 in an interview with Russia24.

    "They are ringing alarms, and they too can't find an answer to the question why the Turkish President Recep Tayyip Erdogan did this", he said referring to the downing of the Su-24.

    Peskov, further calling the incident a provocation, said it wasn't in the interests of NATO, or Russia, or Turkey itself.

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  • Big oil, gas, petrochemical brands to gather in Tehran
    28.11.2015 10:00
    Tehran, Iran, November 27

    By Mehdi Sepahvand -- Trend:

    The world's biggest brands of oil, gas, and petrochemicals are scheduled to gather in Tehran on Nov. 28 to attend a conference in which the Iranian Oil Ministry will unveil its newly formed contracts called IPC (Iran petroleum contract).

    Companies from 45 countries are going to attend the conference, head of the Tehran Conference Mehdi Hosseini said, adding that of the 335 companies attending, 152 will come from abroad, SHANA news agency reported November 27.

    Shell, Total, Eni, Lukoil, Sinopec, DNO, Woodside Petroleum, Petronas, GPSC, and a host of other world giants are slated to be present in the conference.

    During the conference, to be held in Tehran Summit Conference Hall, Hosseini will brief the audience about a two-year process that went into preparing the contracts. Oil Minister Bijan Zanganeh will then introduce the contracts.

    The IPCs are designed as to attract especially foreign investors and transfer technology to Iran's oil industry which has been facing developmental problems under international sanctions.

    Stay up to date with latest Iran news on our specialized Facebook page

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  • Iran eyes domestic gas market, Europe is distant prospect
    28.11.2015 08:44
    Baku, Azerbaijan, Nov. 27

    By Aygun Badalova - Trend:

    Iran will not become a gas exporter to Europe in the near future, Charles Ellinas, oil market expert, Executive President, Cyprus National Hydrocarbons Company (CNHC) believes.

    "Europe is not a priority for Iran. The country's immediate priority is its domestic market and gas for injection into its oilfields to maintain oil production," Ellinas told Trend.

    Any exports will be directed to regional markets, and Europe is a distant prospect, he believes.

    At the same time, expert does not exclude the possibility of Iran to export LNG to European markets. But it will also take time, he believes.

    "To produce LNG Iran needs the technology and investment. These will not be forthcoming until after sanctions are lifted and the threat of possible reintroduction of sanctions recedes. Given that it takes 2-3 years of preparation and 4 years of construction for an LNG plant, such exports may come in the 2020s," Ellinas said.

    "By then LNG prices may also rise to a level to make such projects commercially viable," he added.

    Earlier Head of National Iranian Gas Exports Company Alireza Kameli said that the export of gas to Europe is uneconomical for Iran.

    A pipeline of about 5,000-km length should be constructed from lsquo;South Pars' gas field to Europe to transit Iranian gas to the continent, but alongside the cost of this huge project, the big gas transit fees make Iranian natural gas export to EU uneconomical, he said to Mehr News Agency.

    He also said that exporting LNG to European markets is on Iranian Oil Ministry's top agenda.

    According to Kameli, Iran is set to increase its share in the global gas trade markets by increasing the production of LNG. He said that Iran is expected to launch five LNG projects within the next three years.

    Iran is the world's third-largest dry natural gas producer, after the United States and Russia. In 2013, Iran became the world's largest gas-flaring country, surpassing Russia, according to the US Energy Information Administration (EIA).

    BP Statistical Review of World Energy 2015 also shows that Iran possesses the world's largest proven natural gas reserves, at 34 trillion cubic meters - or 18.2 percent of the world's total proven reserves.

    Despite having the world's biggest gas reserves it only shared 5 percent of global natural gas production, at 172.6 billion cubic meters in 2014 (excluding recycled and flared gas), according to the report.

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  • President Ilham Aliyev arrived in Belarus on an official visit
    28.11.2015 05:00
    Baku, Azerbaijan, Nov. 28

    By Maksim Tsurkov - Trend:

    President of the Republic of Azerbaijan Ilham Aliyev has arrived in Belarus on an official visit.

    A guard of honor was arranged for the head of state at Minsk National Airport.

    The President was greeted by top-ranking state and government representatives of Belarus.

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  • Iran, Romania underline significance of parliamentary ties
    28.11.2015 03:00
    The representative of the Romanian Senate in a meeting with the visiting Iranian lawmakers in Bucharest on Friday underlined that the cooperation between the Iranian and Romanian parliaments will pave the way for strengthening of mutual cooperation, IRNA reported.

    According to Iran's Embassy in Bucharest, Titus Korlatsean in a meeting with the Iranian lawmakers Javad Jahangirzadeh and Hadi Shoushtatri welcomed the visiting Iranian parliamentary friendship group, saying the new chief of Romania Parliamentary Friendship Group will be appointed soon.

    He, meantime, pointed to the Syrian crisis and the global threat by the Daesh Takfiri terrorist group, and said, "The Syrian crisis has only a political solution which will be achieved through negotiations and for achieving that all countries should show seriousness.

    The Iranian lawmakers, for their part, focused on regional developments, hoping that after rectification of policies by the western governments, a suitable solution will be found for the settlement of regional problems and the Syrian crisis, in particular.

    Both sides exchanged views on certain international developments including the humanitarian crisis in Syria and campaign against terrorism.

    Stay up to date with latest Iran news on our specialized Facebook page

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  • Police responding to active shooter situation in Colorado
    28.11.2015 02:20
    A shooting was reported near women's health clinic Planned Parenthood. Police have responded but, so far, had little information about the situation.

    Police tweeted that the shooting took place on Centennial Boulevard which was "not secure." They asked media not to stage in the area and told shoppers in the area to stay in the stores.

    "Right now we don't know if there are any hostages," police Sgt. Kevin Miyakusu told CNN. "It is a very fluid situation."

    A witness told CNN that at least five officers were behind a building with their guns draw. Media has also reported several SWAT vehicles and more than a half-dozen police cars.

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  • Iran never reciprocated cyber-attacks
    27.11.2015 23:47
    Foreign Ministry Spokesman Hossein Jaber Ansari reacted to the recent statements of the US officials on cyber-attacks, saying that Iran has never reciprocated illegal cyber attacks, IRNA reported.

    "Iran has never responded to these illegal attacks with reciprocal cyber attacks," Jaber Ansari said on Friday.

    He reiterated that in Iran's view lack of an efficient legal system in the international scene to prevent and prohibit such attacks is one of serious shortages in this field.

    Jaber Ansari said that Iran has been victim of serious cyber-attacks such as Stuxnet in the recent years.

    "Iran as a responsible-prone country which is currently the rotating president of the non-aligned movement has always been committed to adopting and strengthening the preventive mechanisms in this field and it has always called on other countries, especially the western countries to cooperate and prevent destructive cyber attacks and measures," the foreign ministry spokesman said.

    Jaber Ansari reiterated that unfortunately the performance of some countries in this regard has not been constructive and it has damaged the international norms.

    Stay up to date with latest Iran news on our specialized Facebook page

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  • Ankara-Moscow visa-free regime freeze to leave Russian economy unaffected
    27.11.2015 22:40
    Earlier in the day, Russian Foreign Minister Sergei Lavrov announced Russia would suspend its visa-free regime with Turkey from January 1, 2016.

    "Some 69,000 [Turkish] citizens indicated lsquo;tourism' as the purpose of their arrival [in Russia], about 31,000 arrived on business trips, whereas others came on personal visits or with other goalhellip; In other words, the entry flow from Turkey is so insignificant that it will not affect the Russian economy," the spokesperson told RIA Novosti.

    Turkish-Russian relations have soured dramatically after the downing of a Russian Su-24 jet by Turkey in Syria on Tuesday.

    Russian President Vladimir Putin said that the plane was downed by an air-to-air missile launched by a Turkish F-16 jet over Syrian territory. Ankara claimed that it downed the Russian airplane because it violated Turkish airspace. The Russian General Staff and the Syrian Air Defense Command have refuted the claims.

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  • Participants of Gold Grand-Prix tournament visits Heydar Aliyev monument
    27.11.2015 21:48
    Participants of the international wrestling Gold Grand-Prix tournament commemorating Azerbaijan`s national leader Heydar Aliyev have today visited a monument to national leader Heydar Aliyev in a park in front of the Heydar Aliyev Palace.

    They put a wreath and flowers at the monument.

    /By AzerTac/
  • Iran expects highest regional growth next year
    27.11.2015 21:13
    /By AzerNews/

    By Sara Rajabova

    The Islamic Republic, which is impatiently looking forward the removal of international sanctions, has said it will reach highest regional growth in the coming year.

    Ali Tayyeb-Nia, Iranв's economic and finance minister said based on international economic forecasts, next year Iran is going to herald the highest economic growth across the region extending from north of Africa to the Middle East, IRNA news agency reported.

    Tayyeb-Nia said the international experts foresee a bright future for Iran's economy.

    Following the removal of sanctions, Iran will be able to enjoy new possibilities and access to foreign resources that were inaccessible due to the sanctions.

    Tayyeb-Nia said this will open up possibilities for the Islamic Republic to export more oil and at the same time sell its oil in advance.

    He also added that the removal of sanctions will also boost Iran's banking, insurance and shipping sectors.

    All these factors will surely have positive and meaningful effects on Iran's economic growth and they will help us better deal with inflation and recession.

    The country has already observed the economic improvement after the lifting of some prohibitions imposed earlier against the country.

    The Iranian government could decrease high-level inflation and unemployment in the country for a short period of time.

    Iran's Statistics Center has recently announced that the inflation rate in Iran's urban areas for the 12-month period to the eighth Iranian calendar month of Aban (ended on November 22) hit 13.1 percent, 0.2 percent less compared to the preceding month.

    The country's point-to-point inflation in the mentioned month also decreased by 0.1 percent to 10.8 percent.

    The inflation rate in Iran in 2005 was about 10.4 percent, but in mid-2013, when Iranian president Hassan Rouhani came to power, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.

    Rouhani has promised to decrease the inflation rate to 5 percent by 2017.

    The government also expects around five percent economic growth in 2016. The nuclear agreement with world powers will allow Iran to restore crude oil exports, attract foreign investment, and establish economic links with the world.

    Since coming to office in 2013, the administration of President Hassan Rouhani has ridden out recession and presided over a growth rate of about three percent by following a tight monetary and fiscal policy.
  • Su-24 incident greatly damaged Russia-Turkey relations
    27.11.2015 20:50
    Baku, Azerbaijan, Nov. 27


    The incident with Russia's Su-24 warplane shot down by Turkey greatly damaged Russia-Turkey relations, Valentina Matvienko, the speaker of the Federation Council of Russia, said, RIA Novosti reported.

    "This greatly damaged Russia-Turkey relations," she said. "We considered Turkey as our neighbor, partner, friendly country. We developed mutual economic cooperation. Turkey did everything to destroy the mutually beneficial cooperation with the Russian Federation."

    She said that this situation has caused deep resentment in the Russian society.

    "I know that Russian tourists refuse to go to Turkey," she said. "This is approximately four million tourists a year, which is around $1 billion in Turkey's revenues obtained from the Russian tourism."

    Russia-Turkey relations deteriorated after the incident with the Russian Su-24 warplane, shot down by the Turkish Air Force Nov. 24.

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  • TAP construction must be accelerated '" Azerbaijani minister
    27.11.2015 20:40
    Baku, Azerbaijan, Nov. 27

    By Maksim Tsurkov - Trend:

    It is necessary to pay more attention to the implementation of the Trans Adriatic Pipeline (TAP) construction project and accelerate it, Azerbaijani Energy Minister Natig Aliyev said.

    "Azerbaijan and Georgia have no problems with the implementation of the Southern Gas Corridor," he told reporters Nov. 27. "The different customs and land issues are solved on time.

    The Trans-Anatolian pipeline (TANAP) is being constructed on schedule. TAP physical construction will start in Europe in spring 2016. All necessary permissions were obtained. The documents were prepared. The orders for pipes were made. I think we must pay more attention to TAP and accelerate the appropriate work."

    At the initial stage, the gas to be produced as part of the second phase of development of Azerbaijani gas condensate Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. At a later stage, other sources may join the project.

    The gas to be produced as part of the Stage 2 of the field's development will be exported to Turkey and to the European markets by means of expanding the South Caucasus Pipeline and construction of the Trans-Anatolian Gas Pipeline (TANAP) and the Trans-Adriatic Pipeline (TAP).

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  • Mugham and Mediterranean music to merge in Baku
    27.11.2015 20:33
    /By AzerNews/

    By Amina Nazarli

    This weekend, splendid sounds of two different musical cultures will be woven into one in Baku.

    The International Mugham Center will host exciting concert entitled ''Meeting of Mugham and Mediterranean music'' with participation of Azerbaijani and Italian musicians.

    The concert scheduled for 19:00 on November 29, will feature the folk music of the two nations.Organized by the International Mugham Center, the event will be supported by the Italian embassy in Azerbaijan and Azerbaijan-Italy association

    The concert program will bring together prominent artist such as Fikret Verdiyev (tar), Rafael Aliyev (kamancha), Khanlar Jafarov (garmon), Elshan Gasimov (nagara), as well as trio of Nando Citarella, Mauro Palmas and Gabriella Aiello.

    Mugham, a unique musical and poetic phenomenon, was created based on historical and cultural traditions that have existed for centuries in Azerbaijan.

    Recognized as a masterpiece of the UNESCOв's Oral and Intangible Heritage of Humanity the Azerbaijani Mugham is one of the most valuable monuments of the material and spiritual culture of the nation and the greatest achievement of the musical and poetic art of the Azerbaijani people.

    Mugham entered into global cultural heritage at the beginning of the last century by attracting the attention of cultural experts and music critics around the globe.

    The lyrical music of Mugham attracts the young and old with its delightful sounds. At present, this pearl of Azerbaijani music art continues to take new forms, attracting attention worldwide.
  • Personnel changes occur in Baku airport
    27.11.2015 20:31
    Baku, Azerbaijan, Nov. 27


    A new acting director has been appointed at the Baku Heydar Aliyev Airport Department of the Ministry of National Security of Azerbaijan, a source told Trend Nov.27.

    Movsum Ashurov, who previously worked in this department, became the new acting director.

    Earlier, the head of this department, colonel Parviz Valiyev was dismissed.

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  • Ankara to ask Baku to help resolve crisis in relations with Russia '" expert
    27.11.2015 19:30
    Baku, Azerbaijan, Nov. 27

    By Anahanum Khidayatova - Trend:

    Prime Minister of Turkey Ahmet Davutoglu during the upcoming visit to Azerbaijan will ask Baku to help Moscow and Ankara to resolve the latest incident, vice-president of the Turkish Strategic Outlook analytical center, expert on the South Caucasus region Mehmet Fatih Oztarsu told Trend Nov.27.

    Relations between Russia and Turkey have deteriorated after the incident with the Russian Su-24 bomber shot down by the Turkish Air Force Nov.24.

    "Such a decision of the Turkish government [involvement of Azerbaijan as a mediator between Russia and Turkey] may become effective for easing of relations between Turkey and Russia," he said.

    Regarding regional issues, the expert said that the parties are likely to touch on the priorities of the new government in the issue of Nagorno-Karabakh, as well as the growth of Russia's pressure in the region.

    "Of course, during the visit of Davutoglu to Azerbaijan, talks on energy cooperation of the parties will occupy an important place," said Oztarsu. "Turkey should look for alternative markets, and Baku can play an important role in this issue."

    The expert also said that the prime minister of the new Turkish government traditionally makes his first foreign visit to Azerbaijan.

    The visit of Turkish Prime Minister Ahmet Davutoglu in Azerbaijan will be held December 3, Turkish Foreign Minister Mevlut Cavusoglu, who is on a visit to Baku, said Nov.27 during the meeting with his Azerbaijani counterpart Elmar Mammadyarov.


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  • Kazakhstan, China sign agreement on refinery modernization
    27.11.2015 19:11
    Baku, Azerbaijan, Nov. 27


    The Petro Kazakhstan Oil Products company, which manages a refinery in the Kazakh city of Shymkent, and China Petroleum Engineering amp; Construction (CPECC) in Beijing have signed an additional agreement to the "turnkey" contract for the implementation of the second phase of reconstruction and modernization of the plant, the KazMunaiGas - Processing and Marketing company, which is one of the shareholders of the refinery, said Nov.27.

    The document defines the fixed price of the contract on the basis of the positive conclusion of state expertise regarding the design and estimate documentation of the project obtained by the Petro Kazakhstan Oil Products.

    The project of reconstruction of one of the three largest oil refineries in Kazakhstan is aimed at increasing the processing capacity of the plant from 5.25 million tons to 6 million tons, as well as increasing manufacture of light oil products from 61 percent to 89 percent, bringing quality of the products to Euro-3 standard.

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  • Criminal case on Azerbaijani extremist sent to countryв's prosecutor generalв's office
    27.11.2015 19:11
    Baku, Azerbaijan, Nov. 27

    By Samir Mammadov - Trend:

    Criminal case initiated against Taleh Baghirov and other 13 people detained during a special operation in Nardaran settlement of Baku, has been sent to the Investigation Department on Heinous Crimes of Azerbaijani Prosecutor General's Office, a source in law enforcement authorities said Nov.27.

    At the moment, the department continues investigation.

    The detainees have not been provided with lawyers for now. Therefore, there is no information on the whereabouts of these individuals.

    Four members of the criminal group operating under the guise of religion were eliminated during the special operation held by the employees of the Azerbaijani Interior Ministry in Nardaran settlement located 25 kilometers from Baku Nov.26. Moreover two policemen were killed during the operation.

    Fourteen members of the group led by Taleh Baghirov have been detained.

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  • Azerbaijani Air Force and Air Defense Force on alert as part of military exercises
    27.11.2015 18:50
    Baku, Azerbaijan, Nov. 27


    The Air Force and Air Defense Force were put on alert upon the order of Azerbaijani Defense Minister, Colonel-General Zakir Hasanov as part of military exercises.

    The combat readiness and skills of staff were checked during the exercises, the Azerbaijani defense ministry told Trend Nov. 27.

    All tasks and assignments have been successfully completed. The combat training and skills were highly appreciated by the defense ministry.

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  • Kazakh manufacturers to retain privileges when joining WTO
    27.11.2015 18:41
    Baku, Azerbaijan, Nov. 27

    By Elena Kosolapova - Trend:

    Manufacturers of Kazakhstan will maintain their privileges during the transition period after the country joins the World Trade Organization (WTO), the Ministry of Investment and Development of Kazakhstan said.

    In particular, domestic producers can take advantage of a temporary reduction factor to the rates when transporting their goods within Kazakhstan.

    Customs duties on cars after the country's accession to the WTO for five years will gradually fall from 23 percent to 12.5 percent.

    In addition, transitional period until July 1, 2018 regarding the investment agreements concluded within the "industrial assembly" has been agreed upon.

    Enterprises in the special economic zones and free warehouses, registered before January 1, 2012 will retain benefits in the form of exemption from customs duties until January 1, 2017.

    The requirements for the local content in obligations of subsoil users in contracts concluded before January 1, 2015, regarding the purchase of goods before the end of the transitional period (six years), or until the expiration of the initial term of the contract will be also saved.

    The local content requirement of 50 percent will be retained in the contracts for works and services.

    Deputy Minister of Foreign Affairs of Kazakhstan Alexey Volkov said earlier that Kazakhstan will officially join the WTO December 15, 2015.


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  • Two faces of ''free'' Europe
    27.11.2015 18:41
    On Nov.26, a special operation was held by law enforcement authorities in Azerbaijan, the aim of which was a radical religious group. Everyone knows that this event is unambiguous, two police officers were killed and four members of the group were eliminated as a result of armed resistance.

    One can say anything, but the fact remains. Police was confronted by men armed with automatic weapons and grenades. One can call it whatever he (she) likes, but first of all, ask yourself whether you are ready to accept the fact that armed men will be going down the street which your children use to go to school. Are you ready for the fact that people with guns will tell your child that he (she) doesn't dress properly or says something wrong? There is no difference which ideas they use as a cover - religion or something else.

    However, no matter how obvious it all is, there are those who don't think so, for example, Radio Free Europe/Radio Liberty. This media turns even an obvious fact upside down. This organization tries to justify the actions of armed extremists. It is not necessary to list all the arguments of this organization, because they are based on speculations and assumptions of its authors.

    However, first of all, I would like to ask Radio Free Europe the following question. Are you ready to justify the actions of people who have committed the terrorist acts in Paris?

    Why are the individuals with guns in the center of Paris terrorists? But in case of Baku, they become "human rights defenders" and "preachers".

    Are they defenders of the right to bear arms? Is this a right for using arms against the authorities? Such people are called terrorists in Europe. The negotiations are not held with them. They are simply neutralized. How many people, directly committing terrorist attacks, were arrested in Paris? No one! All of them were neutralized. However, Radio Free Europe said that this attitude is not acceptable for Azerbaijan.

    Such an attitude to the events in Azerbaijan, speculation on the death of people, feelings of believers are sorrowful. Perhaps, a person in a madhouse must feel this. When you are sorry for the patient, but at the same time you understand that you can do nothing for him.

    The hypocritical attitude towards the countries outside Europe or the US is not news. However, every time we are surprised of the cynical and unprincipled attitude to the whole countries and people living there.

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  • PACE observation missionв's final report on Azerbaijani parliamentary election approved
    27.11.2015 18:40
    Baku, Azerbaijan, Nov. 27


    A meeting of the PACE Standing Committee was held in Azerbaijan on November 1.

    The PACE observation mission's final report on the parliamentary election in Azerbaijan, held November 1, was unanimously approved.

    Story still developing

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  • Management changed at Kazakhstanв's major oil-gas company
    27.11.2015 18:31
    Baku, Azerbaijan, Nov. 27

    By Elena Kosolapova - Trend:

    Management was changed at one of the largest oil and gas companies in Kazakhstan - the MangystauMunaiGas.

    The company said Nov. 27 that Bakyt Imanbaev was appointed its director general.

    He previously held the post of first deputy general director of the company.

    Sun Xingyun, who in the past three years served as the director general of the company, was appointed its first deputy general director.

    The major industrial facilities of the MangystauMunaiGas are the Kalamkas and Zhetybai deposits.

    The total oil reserves of the Zhetybai group of fields stand at 458 million tons.


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  • President Aliyev: Azerbaijan ready to make efforts to reduce and eliminate tension in Turkish-Russian relations
    27.11.2015 18:31
    Baku, Azerbaijan, Nov. 27


    President of the Republic of Azerbaijan Ilham Aliyev received a delegation led by Foreign Affairs Minister of the Turkish Republic Mevlut Cavusoglu Nov. 27.

    "I congratulate you on the occasion of your appointment as Foreign Affairs Minister, and wish you success in your activities," President Aliyev said. "I am very glad that you are paying your first visit to Azerbaijan. This tradition has already existed for several years. Both state and government officials, ministers make their first visits after the appointment to the brotherly country."

    "Using this opportunity I would like to congratulate you on the successful organization of recent G20 Antalya Summit," he said. "This is a big success of Turkey. Turkey once again demonstrated that it is a great country, a country with big power. I am happy that the brotherly country invited Azerbaijan to the Summit. This is indicative of the high level of Turkish-Azerbaijani relations, and shows both our nations and the world that Turkey and Azerbaijan have the closest relations on the global scale."

    The president noted that G20 Antalya Summit demonstrated that Turkey's position has a significant role to play in many issues. Stressing that Azerbaijani-Turkish relations are at the highest level, President Aliyev said the two countries are successfully cooperating in all areas.

    "Dear Mr President, thank you so much," Cavusoglu said. "First of all I would like to thank you for receiving us. I want to stress that I am very proud to continue our traditions, make my first visit since my appointment as foreign affairs minister to brotherly Azerbaijan."

    "I would also like to congratulate you on the Parliamentary elections held on November 1," Cavusoglu said. "Both Turkey and brotherly Azerbaijan held elections on the same day. You had very successful elections. I read the reports of international organizations. Yesterday I reviewed approval reports of the Council of Europe. We congratulate you on this occasion."

    Cavusoglu thanked President Aliyev for Azerbaijan's participation in G20 Antalya Summit. Saying he was proud that President Aliyev attended the Antalya Summit, Cavusoglu praised precious remarks on international issues that the president made at this prestigious event. He noted that Azerbaijan`s participating in the Summit made Turkey's position even stronger.

    Cavusoglu expressed his confidence that Turkish-Azerbaijani relations will continue developing in all areas and reach a higher level under the leadership of the two brotherly countries' presidents.

    Touching upon ongoing tension between Turkey and Russia, President Aliyev said that historically, Azerbaijan has had close ties with both Turkey and Russia, and that it regrets and is concerned about tension between the two countries. The president said Azerbaijan is ready to make efforts to reduce and eliminate tension in Turkish-Russian relations.

    They also discussed a variety of issues, including settlement of the Armenian-Azerbaijani Nagorno-Karabakh, and the projects jointly implemented by Azerbaijan and Turkey such as TANAP, TAP, Baku-Tbilisi-Kars and others.

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  • Gold Grand-Prix tournament kicks off in Baku
    27.11.2015 18:11
    The international wrestling Gold Grand-Prix tournament commemorating Azerbaijan`s national leader Heydar Aliyev has today started in Baku.

    A total of more than 400 wrestlers from 32 countries will compete in the Grand Prix.

    Azerbaijan`s hopes will be pinned on 22 wrestlers.

    The wrestlers will compete in three categories as freestyle, women`s and Greco-Roman events on November 27, 28 and 29 respectively.

    /By AzerTac/
  • Revival of OPEC quotas '" very difficult task, says Iranian minister
    27.11.2015 18:10
    Baku, Azerbaijan, Nov. 27

    By Dalga Khatinoglu - Trend:

    The elimination of the OPEC oil quota system is a grave and historical mistake, Iran's Oil Minister Bijan Zangeneh told IRNA news agency.

    He noted on Nov .27 that the revival of a quota system in the upcoming Organization of Oil Exporting Countries (OPEC) meeting on Dec.4 is a very difficult task.

    OPEC members have agreed on 30 mb/d ceiling level together. However, there is no a binding production quota for each member of OPEC.

    OPEC discontinued quotas in 2011 because they caused friction and member countries were not complying with them anyway.

    The cartel's latest monthly report said that OPEC's output stood at 31.383 mb/d in October, or 256,500 barrels less than in September.

    However, OPEC's report said that the estimated demand for OPEC crude in 2015 remains at 29.6 mb/d, an increase of 0.6 mb/d over the previous year. The demand for OPEC crude is forecast at 30.8 mb/d in 2016, or around 1.2 mb/d higher than in 2015.

    Zanganeh said that some OPEC members have raised the issue of eliminating quota system, but it is not possible to do that without approval, he said.

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  • FX Update: Is the worst position having no position at all?
    27.11.2015 18:04
    John J Hardy

    Head of FX Strategy / Saxo Bank

    We had a risk off impulse overnight on an ugly session for Chinese equities on news that the authorities there are clamping down on brokerage houses. But with US markets closed yesterday, the fallout was somewhat limited. Still, the offered tone in AUD and NZD, for example, underlines the risk that their run of strength may be ending.

    It is a terrible mind game for EURUSD traders ahead of major event risks like those that we are facing down next week as we have to wonder how much is priced in and where is the bar for surprise from both the European Central Bank next Thursday and from US Federal Reserve speakers and the US jobs report next Friday.

    There is both plenty room for a squeeze back to bigger resistance areas at 1.0800 and even 1.1000 here while we also have room to the sub-1.0500 lows before we hit any major support levels. But bears may want to at least have one leg in the water here on the fear of missing out.

    USD: The Fed will have to be careful not to oversell its "gradual pace" language next week as we await the next batch of jobs data on Friday. Today, watching the USDJPY support at 122.25, the GBPUSD support at 1.5025 and whether EURUSD can continue to grind lower within the descending channel ahead of next week.

    EUR: Everyone knows it is coming and many are expecting the ECB's Mario Draghi and company to deliver something big next Thursday at their board meeting. But let's recall that EURUSD is merely back to where it was around the initial announcement of this quantitative easing programme back in March - can we see a quick run to parity in EURUSD if Draghi delivers. No position for EURUSD bears may be a greater risk than trying to wait and see next week.

    GBP: Sterling on its back foot against the USD, where we're watching the recent lows for the cycle just above 1.500 as a hurdle that should be easily cleared if the greenback stays strong here as UK/US interest rate spreads continue to favour the greenback. Meanwhile, EURGBP needs to sell off again back below 0.7000 or we risk another squeeze.

    CHF: EURCHF remains solidly in the range despite the onrushing ECB meeting next week,as perhaps the market is anticipating that the SNB will respond sufficiently at its December 10 meeting to keep the risk of franc appreciation contained. USDCHF also at critical levels here as we ponder its potential for a significant move in the New Year.

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  • 300 Iranians detained in Iraq
    27.11.2015 18:01
    Baku, Azerbaijan, Nov. 27

    By Temkin Jafarov - Trend:

    Iraq has in the past two weeks arrested 300 Iranian nationals, who illegally crossed borders with that country to take part in a religious ceremony called Arba'een, Tasnim agency quoted Saeed Ohadi, head of Iran's Hajj and Pilgrimage Organization, as saying Nov. 27.

    He said Iranian citizens were arrested by Iraqi security forces, as they entered the country without visas.

    "All the detained Iranian nationals have been handed over to security forces of the Islamic Republic," noted Ohadi.

    In the last two weeks, 1,200,000 Iranians visited Iraq.

    Every year, millions of Muslims walk on foot to Karbala on the 40th of the Ashura Day in the Muslim month of Muharram. Last year, the ceremony was attended by 20 million people. It is predicted that two million pilgrims will depart for Iraq from Iran.

    This year the Arba'een will be held on December 2.

    Stay up to date with latest Iran news on our specialized Facebook page

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  • Kazakhstan Railways incurring losses
    27.11.2015 18:00
    Baku, Azerbaijan, Nov. 27

    By Elena Kosolapova - Trend:

    Losses of Kazakhstan Railways in Jan.-Sept. 2015 stood at 219.865 billion tenges (307.21 tenges = $1).

    In the same period last year, the railway operator's profits were 15.048 billion tenges, according to financial statement posted on the website of the Kazakhstan Stock Exchange (KASE).

    The company's revenues during the first nine months decreased to 549.244 billion tenges, compared to 643.332 billion tenges in the same period 2014.

    Meanwhile, the company's incomes from freight transportations in Jan.-Sept. fell to 453.675 billion tenges, while the revenues from passenger transportation decreased to 54.667 billion tenges.

    State subsidies of Kazakhstan Railways fell in the same period to 14.631 billion tenges.

    Edited by SI

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  • Azerbaijan`s Orujov claims bronze at Jeju Grand Prix
    27.11.2015 17:51
    Azerbaijani judo fighter Rustam Orujov (73kg) has won the bronze medal on the second day of the Grand Prix tournament in Jeju, the Republic of Korea.

    Orujov secured the medal after defeating Belgian Sami Chouchi.

    The tournament brings together 434 fighters from 71 countries.

    /By AzerTac/
  • Azerbaijan waiting for investment proposals on AGRI project
    27.11.2015 17:49
    Baku, Azerbaijan, Nov.27

    By Maksim Tsurkov - Trend:

    Azerbaijan is ready to participate in the implementation of AGRI (Azerbaijan-Georgia-Romanian Interconnector) project if there are private investors, the country's Energy Minister Natig Aliyev told reporters Nov.27.

    "It is a very interesting project," he said. "Azerbaijan has necessary resources which it could export to Romania. However, a number of issues remain unresolved."

    The minister said that for the present, it is not clear who will invest in AGRI project, as well as in constructing a terminal in Georgia.

    Romania won't be able to finance this project by itself, said the minister adding that therefore, the participation of a driving force represented by private investors or financial institutions is necessary.

    "For our part, we are ready to participate in the implementation of the project," said Aliyev.

    AGRI project envisages transportation of Azerbaijani gas to the Black Sea coast of Georgia via gas pipelines. Azerbaijani gas delivered to Georgia's Black Sea coast will be liquefied at a special terminal and following this, it will be delivered in tankers to a terminal at the Romanian port of Constanta.

    Further, it will be brought to the gaseous state and sent via the country's gas infrastructure for meeting the demands of Romania and other European countries. The cost of the project will vary from 1.2 billion euros to 4.5 billion euros, according to the preliminary estimations. The project's cost will depend on the capacity of terminals that can be equal to 2-8 billion cubic meters of gas per year.

    The participants of the AGRI project are the State Oil Company of Azerbaijan (SOCAR), Georgia's Oil and Gas Corporation, as well as MVM (Hungary) and Romgaz (Romania).

    The parties established the SC AGRI LNG Project Company SRL in February 2011 for the implementation of the project.

    Edited by SI


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  • Low oil prices seriously affect Kazakh economy, expert says
    27.11.2015 17:32
    /By AzerNews/

    By Aynur Karimova

    The situation in Kazakhstan's economy is likely worse than it was predicted at the beginning of the year, Dosym Satpayev, the Director of the Kazakh Risk Assessment Group, believes.

    "Since the end of last year, the Kazakh government is trying to prevent rising unemployment. The government has signed memorandums with large Kazakh enterprises that they will guarantee the preservation of jobs, or in the case of layoff of an employee, they will search another job for him/her," the expert toldВ TrendВ on November 25.

    On November 23, Kazakh Energy Minister Vladimir Shkolnik suggested that more than 40,000 employees of the oil and gas sector of the country could face layoffs, and wages will be reduced by a third if oil prices remain at a low level in 2016. Next year, the major international financial institutions expect the average price of Brent at $55-$58 per barrel.

    "The statement made by Vladimir Shkolnik, says that the situation is worse than expected by the government. Most likely, the government expected that the economic situation will recover slightly by mid-year. But it turned out that the situation is worse - the price of oil dropped below $50. It is clear that it made our officials to be more pessimistic than they were earlier the year," Satpayev noted.

    The expert believes that unemployment increases not only in the oil and gas sector, but almost in all sectors of the Kazakh economy.

    "This year, an unfavorable economic environment evolved for Kazakh businessmen due to the fact that cheaper Russian and Belarusian goods entered the markets of the country, which made Kazakh producers uncompetitive," he stressed. "So, the problem is more serious."

    A decline is observed in the attractiveness of Kazakhstan's labor market for foreign professionals, because since the recent significant depreciation of Kazakhstan's national currency-tenge, payment of wages in dollar terms does not correspond to their requirements.

    Satpayev excluded the possibility that reduction of jobs in Kazakhstan will lead to labor migration from the country, as a similar deterioration in the economic situation is observed in the former Soviet Union and in foreign countries.

    "To prevent unemployment in Kazakhstan, it is necessary to support SMEs - entrepreneurship, which could "pull" a considerable part of the labor force," he said. "This requires state policy of preferential crediting."

    Satpayev also expressed hope that the situation with the low oil prices will force Kazakh officials to reconsider their approaches to the economy and to reflect more detailed on the development of the non-oil sector.

    "Experience shows that high oil prices will not help improve the competitiveness of our economy. During these 20 years, we, unfortunately, did not establish an alternative economy, which could compensate for the current crisis in the mining sector," he concluded.
  • Russia did not keep promise
    27.11.2015 17:24
    Baku, Azerbaijan, Nov. 27

    By Rufiz Hafizoglu - Trend:

    Russia has promised that its aircraft will not violate the Turkish airspace any more but it has not kept this promise, Turkish President Recep Tayyip Erdogan said, TRT Haber TV channel reported Nov. 27.

    President Erdogan said during the G20 summit that he discussed the violation of the Turkish airspace by Russian aircraft.

    "Russian President Vladimir Putin jokingly suggested Ankara to consider the first case of violating the airspace by Russian aircraft as "a visit of guests"," President Erdogan said. "But I said that Turkey does not expect uninvited guests."

    Turkey-Russian relations deteriorated after the incident with the Russian Su-24 warplane, shot down by the Turkish Air Force Nov. 24.

    Earlier, the Russian authorities accused Turkey that it buys oil from the IS terrorist organization.

    Moreover, Russia urged Turkey to apologize after the incident with the Russian Su-24 warplane.

    "Turkey will not apologize to Russia in connection with the incident," the president said.

    President Erdogan said that Russia must apologize to Turkey.

    "Ankara and Moscow are strategic partners," the Turkish president said. "But this does not mean that Russia must disrespect the Turkish border inviolability principle."

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  • Azerbaijan expects no sensational decisions by OPEC
    27.11.2015 17:11
    Baku, Azerbaijan, Nov. 27

    By Maksim Tsurkov - Trend:

    Azerbaijan doesn't expect any sensational decisions from the upcoming December meeting of the Organization of the Petroleum Exporting Countries (OPEC), the country's energy minister Natig Aliyev told reporters Nov.27.

    The OPEC meeting will be held December 4 in Vienna.

    "No decisions can be expected in terms of oil production level, most likely, it [the production] will remain unchanged," Aliyev said. "The currently declared quota for production of 30 million barrels of oil per day significantly exceeds its daily consumption. In order for the oil prices to rise, OPEC should cut production, but it won't happen."

    Due to the prolonged fall in oil prices things reached the point when OPEC asks countries outside the cartel to reduce production while leaving its own one at the same level. Saudi Arabia has openly stated that it doesn't want to lose its market position and invites all those who are not part of OPEC to reduce oil production in order to strengthen prices.

    Since the beginning of the last fall in oil prices, some OPEC member countries have repeatedly asked their colleagues in the cartel to reduce production, because they incur huge losses due to sharp and prolonged twofold decrease of commodity prices.

    "Even if Azerbaijan reduces oil production, it won't affect prices on the global market," the minister said. "In addition, such a decision will be made not by the state, but an international consortium of companies that develop the Azeri-Chirag-Guneshli block of fields.

    The main oil output in Azerbaijan comes from Azeri-Chirag-Guneshli field. This offshore block produces Azeri Light oil with 0.15 percent sulfur and 35 degrees API.

    The contract for the Azeri-Chirag-Guneshli development, with proven reserve of nearly 1 billion tons of oil, was signed in 1994. Shares in the contract are as follow: BP (operator) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC - 2.72 percent.

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  • Azerbaijanв's Shaki named Turkic worldв's culture capital
    27.11.2015 17:11
    Baku, Azerbaijan, Nov. 27

    By Ilhame Isabalayeva - Trend:

    Azerbaijani city of Shaki was announced the cultural capital of the Turkic world in 2016, Azerbaijan's Culture and Tourism Ministry told Trend Nov. 27.

    The decision was made at the 33rd session of the TURKSOY permanent council, held Nov. 26 in Mary, Turkmenistan.

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  • Iran senior commander says US spent $2B to depose Islamic regime
    27.11.2015 17:11
    Baku, Azerbaijan, Nov. 27

    By Temkin Jafarov - Trend:

    Commander of Iran's Basij force, Mohammad Reza Naqdi claims that the United States allocated $2 billion to depose the Islamic regime in Iran.

    "Some $200 million out of this sum was given personally to [US Secretary of State] John Kerry for this purpose," Mehr agency quoted Naqdi as saying Nov. 27.

    Naqdi also claimed that Basij learned this information from the "spies" arrested in Iran.

    "The arrested spies also said Kerry has so far headed 34 projects to depose the Islamic regime," he said.

    Iran recently arrested a number of journalists on charges of being in contact with spy and intelligent services overseas. In one of the arrests, the Washington Post journalist Jason Rezaian was purportedly sentenced to an unspecified prison term on espionage allegations.

    "The US said 36 years ago that it wants to depose the Islamic regime and has been continuing this policy so far," added Naqdi.

    "After the Islamic revolution, the enemy had various heinous political, economical and cultural plans against Iran, but Basij has been able to prevent them," he added.

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  • Large thermal power plant to be commissioned in Uzbekistan
    27.11.2015 16:50
    Tashkent, Uzbekistan, Nov. 27

    By Demir Azizov- Trend:

    The first phase of the Turakurgan thermal power plant (TPP) will be commissioned in Uzbekistan in 2017, Uzbek President Islam Karimov said, the National News Agency of Uzbekistan (UzA) reported Nov. 27.

    President Karimov made this statement said at a meeting of the Namangan Regional Council of People's Deputies.

    The president said that two steam and gas turbines with a capacity of 450 megawatts each are planned to be launched as part of the project for the construction of the Turakurgan thermal power plant in 2017.

    He said that two more turbines are planned to be commissioned in 2020.

    "We will be able to fully meet the electricity demand of the economy and the population not only in the Namangan region, but the whole Fergana Valley and organize new production facilities on this basis by implementing such ambitious projects," President Karimov said.

    It was previously reported that Uzbekenergo JSC started constructing the first phase of the Turakurgan thermal power plant with a 900-megawatt in 2013. The thermal power plant will produce 6.8 billion kilowatt / hours of electricity after the first phase.

    The project worth $1 billion is being financed at the expense of the loan of the Japanese International Cooperation Agency (JICA), the Fund for Reconstruction and Development of Uzbekistan and Uzbekenergo's own funds.

    Uzbekistan and JICA signed a loan agreement in November 2014. Under this agreement, JICA allocates a preferential long-term loan worth 71.8 billion Japanese yens ($704 million) for the period of 40 years, including a 10-year grade period at a rate of 0.3 percent per annum.

    Currently, 45 power plants with the capacity of nearly 13,000 megawatts, including 16 power plants of Uzbekenergo company operate in Uzbekistan's power supply system.

    Up to 90 percent of the electricity is generated at 10 thermal power plants of Uzbekenergo. The total capacity of these plants is 10,600 megawatts.

    In total, Uzbekenergo's power plants account for over 98 percent of the electricity production in the country.

    The rest of the volume is generated by autonomous thermal power plants of industrial enterprises and small hydro power plants of Uzbekistan's Ministry of Agriculture and Water Resources.

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  • Capital adequacy level of Uzbek banks increases
    27.11.2015 16:50
    Tashkent, Uzbekistan, Nov. 27

    By Demir Azizov- Trend:

    The capital adequacy level of the banking system of Uzbekistan currently amounts to 23.6 percent, which is almost 2.5 times higher than the current requirements of international standards, Deputy Chairman of the Central Bank of Uzbekistan Akhadbek Khaydarov said Nov.26.

    He made the remarks at the international banking forum in Tashkent.

    He said that the level of current liquidity of banks in the country is 64.5 percent, which is 2 times higher than the minimum standards adopted in the world practice.

    Khaydarov said that the requirements for Uzbek banks in terms of capital within the framework of the introduction of the standards of the Basel Committee on Banking Supervision (Basel III) is comparable with Western ones, and even exceed a number of parameters.

    "Starting from January 1, 2016, the minimum value of the minimum adequacy of regulatory capital will be increased from 10 percent to 11.5 percent, while the regulatory capital adequacy level will be increased from 5 percent to 7 percent," said the representative of the Central Bank.

    Khaydarov also said that the share of problem loans of Uzbek banks is less than 1 percent of the total loans.

    "Despite the financial crisis, Uzbek banks manage to maintain a low level of NPL (non-performing loans) in its loan portfolio," he said.

    Currently, there are 26 commercial banks, including 3 state ones, 5 banks with the participation of foreign capital, 7 private banks and 11 joint-stock ones in the banking system of Uzbekistan.

    In January-September 2015, total assets of commercial banks of Uzbekistan increased by 10.5 percent compared to 2014, to 62.1 trillion soums, and the total loan portfolio of banks of the republic increased by 14.1 percent, up to 39.7 trillion soums. The total volume of deposits attracted by the banks of the republic, as of early October amounted to 31.8 trillion soums compared to 28.6 trillion soums in early 2015 (a 11.2 percent increase).

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  • Sheki capital of Turkic world in 2016
    27.11.2015 16:41
    /By AzerNews/

    By Amina Nazarli

    Soaking up antiquity, Azerbaijanв's beautiful city of Sheki has been declared the capital of the Turkic world in 2016.

    The decision was accepted at the 33rd meeting of the Permanent Council of TURKSOY Culture Ministers held in Mary, Turkmenistan, where Azerbaijan was represented by First Deputy Minister of Culture and Tourism Vagif Aliyev.

    Sheki located 380 km of the west of Baku is set in a picturesque mountain area rich in narrow gorges and green valleys, springs, purest rivers, water falls and mineral water springs framed by dense woods and alpine meadows.

    Itв's one of the most ancient and historical cities of Azerbaijan, which with its population of 181,000 people, excels in agriculture, especially in the silk industry.

    The city has long been a famous silk center and an important stop on the Great Silk Route. Since ancient times, Sheki has been famous for its silk, which has been used in the Middle East, Europe and India.

    Sheki, located on the picturesque hillsides of the Caucasus Mountains in the background of snowy peaks is one of the country's main tourist destinations, hosting more than 100,000 tourists every year.

    The city is a real natural wonder with its beautiful landscapes, mineral water springs, forests and rivers.

    Beautiful Sheki can also be called the architectural reserve of the country, since the city has 84 historical and cultural monuments. Archaeological findings suggest that the city might be one of the oldest settlements in the Caucasus. Pieces dating 2,500 years were unearthed here.

    Modern Sheki was actually rebuilt in 1772 after the city was destroyed by mud streams - River Kish. Annually, Sheki becomes a place for international and local festivals which attract many people.

    The city can boast many historical and architectural places of interest, but its pride is the ancient majestic royal palace of Sheki Khans erected in the 18th century without a single nail with magnificent wall paintings and tracery windows in the stone citadel.

    Being a major center of crafts, has many shops, where, one can buy jewels and engravings by local craftsmen.
  • Security measures of Russian diplomatic mission must be strengthened in Syria
    27.11.2015 16:40
    Baku, Azerbaijan, Nov. 27


    It is necessary to strengthen the security measures in the Russian diplomatic mission in Syria, Russian Foreign Minister Sergey Lavrov said during the talks with Syrian counterpart Walid Muallem, RIA Novosti reported.

    He said that the Russian embassy in Damascus was fired again on November 23 and a mortar shell fell into the territory.

    In this regard, Lavrov stressed the need to ensure the safety of our diplomatic mission and our citizens in Damascus.

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  • Special measures strengthened in Russian presidential residence
    27.11.2015 16:39
    Baku, Azerbaijan, Nov. 27


    The measures were strengthened in the presidential Novo-Ogaryovo residence to prevent the information leakage, TASS reported.

    "The measures are taken to ensure secrecy to prevent the unwanted leakage of information", Dmitry Peskov, the spokesman for the Russian president, said.

    "In this respect, the measures were really strengthened," Peskov said.

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  • Nargiz Pashayeva visits fundraising gala in London
    27.11.2015 16:27
    /By AzerNews/

    By Nigar Orujova

    Rector of the Baku branch of Lomonosov Moscow State University, co-chair of the Anglo-Azerbaijani Society, Professor Nargiz Pashayeva has visited a traditional fundraising gala dinner in Goldsmithsв' Hall, London, invited by Purcell School for Young Musicians, the oldest specialist music school in the UK.

    This gala dinner is a significant event in the musical life of the UK. During the event, school director James Purcell Harding greeted and thanked the participants, and briefly introduced the program of the event.

    The dinner was attended by well-known British artists, member of the House of Lords of the British Parliament Baroness Warnock, as well as well-known professors and cultural industry workers.

    Early this June, Professor Nargiz Pashayeva and Lord German, co-chairman of the Anglo-Azerbaijani Society, visited the Purcell School and held a meeting its management.

    The sides discussed the possibility of cooperation between the Purcell School for Young Musicians and Specialized music school named after Bulbul in Azerbaijan and education opportunities for two Azerbaijani students.

    Professor Nargiz Pashayeva's initiative was welcomed by the management of the Purcell School, and director of Bulbul school Teymur Goychayev. Two students of this school '" tar player Atabek Ismayilov and pianist Rashid Behbudov '" have visited the Purcell School at the invitation of Professor Pashayeva. The school offered them a weekly program to learn the British system of musical education.

    The Purcell School for Young Musicians, located in the town of Bushey, south Hertfordshire, England, is the oldest specialist music school in the UK. The school was awarded the UNESCO Mozart Medal in 2003, which was received on behalf of the school by Prince Charles, who is a patron of the school.

    During her visit to the UK, Professor Pashayeva also attended a business dinner at the House of Lords at the invitation of Lord German and six members of the House of Lords '" Lord Berkeley, Lord Clemens-Jones, Lord Lipsey, Lord Rowe-Beddou, Lord Aberdare and Lord Thomas Grestfordsky.

    The sides discussed prospects of joint cultural projects supervised by co-chairs of the Anglo-Azerbaijani Society Professor Nargiz Pashayeva and Lord German.

    At the dinner, Professor Pashayeva spoke of musical and cultural heritage of Azerbaijan. The British Lords hailed the activities of Professor Pashayeva.
  • Turkmenistan may expand Galkynysh gas field development
    27.11.2015 16:09
    Ashgabat, Turkmenistan, Nov. 27

    By Huseyn Hasanov- Trend:

    Turkmenistan in the near future intends to launch the third phase of development of the Galkynysh gas field and bring the production there up to 95 billion cubic meters of gas, chairman of the Turkmengas state concern Ashirguly Begliyev said.

    He made the remarks at the recent Ashgabat conference "Oil and Gas of Turkmenistan".

    He went on to add that the industrial development of the largest Galkynysh gas field, which is the second largest one in the world, is one of the major oil and gas projects in Turkmenistan and will serve as a main source of natural gas for future export gas pipelines.

    He also said that production facilities with capacity of 30 billion cubic meters of marketable gas per year have been commissioned to date, the second phase of the gas field development with a similar capacity was launched in 2014, and the third phase of the Galkynysh gas field development with capacity of 35 billion cubic meters of marketable gas per year is expected to start at late 2015.

    "As a result, production at this field alone will amount to 95 billion cubic meters of marketable gas per year," he said.

    In 2013, the Turkmengas state concern implemented one of the grand-scale projects in modern Turkmenistan, the first stage of the Galkynysh field development with capacity of 30 billion cubic meters of marketable gas per year. Investments in this project amounted to $9.7 billion.

    In December 2009, the Turkmengas state concern signed contracts on service conditions for the implementation of a range of work with companies such as Gulf Oil amp; Gas Fze, Petrofac International LLC (UAE), CNPC Chuanging Drilling Engineering Company (PRC) and a consortium of LG International Corp and Hyundai Engineering (South Korea).

    The resource base of the Turkmen Galkynysh field rose again, according to recent estimates

    According to Gaffney, Cline amp; Associates (UK), which audits at the Galkynysh field and the adjacent Yashlar field, these two sites have an estimated total resource reserve of 26.2 trillion cubic meters of gas, the country's oil and mineral resources minister, Muhametnur Halylov said during the Oil and Gas Turkmenistan Conference, adding that when taking into account the newly discovered Garakel field, the block's reserves rise to 27.4 trillion cubic meters.

    Currently, Turkmenistan exports its natural gas to China, Iran, and Russia. The Trans-Caspian gas pipeline across the Caspian Sea to Europe through Azerbaijan and the Trans-Afghan gas pipeline to Pakistan through India are among the planned gas pipelines from Turkmenistan.

    Under the program for developing the country's oil and gas industry is a plan to increase the gas production volume to 230 billion cubic meters by 2030.

    Over 76 billion cubic meters of natural gas were produced in Turkmenistan in 2014, and more than 45 billion cubic meters of this volume were supplied for export.

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  • Iran to launch nation-wide cheetah protection program
    27.11.2015 16:00
    Tehran, Iran, November 27

    By Mehdi Sepahvand -- Trend:

    Iran is going to launch a nation-wide program for the protection of the Iranian (aka Asiatic) cheetah beginning next Iranian-calendar year (to start March 21), Director of Protection and Hunting Management at Iran's Department of Environment Ali Teymouri said.

    Some 166 cheetahs were killed in the past eight years, Teymouri asserted, adding that the protection program has been under preparation for two years, IRNA news agency reported November 27.

    Iranian cheetah is a critically endangered cheetah subspecies surviving today only in Iran. It used to occur in India as well, where it is locally extinct.

    The program was compiled in cooperation with environment departments of 31 provinces, eight specialist environment protection centers, over 60 scientific centers and universities, and 220 NGOs, according to the official.

    Most cheetahs killed in Iran come from the provinces of Fars, Golestan, Kerman, Zanjan, Ilam, Razavi Khorasan, and North Khorasan and are mostly killed either in road accidents, by poachers, or by farmers.

    Teymouri added that Iranian cheetahs are facing other dangers, such as lack of enough prey and shrinking habitants.

    He said plans are being made to help the survival of the Iranian cheetah through insurance, which takes two forms. One is to insure cheetahs, and the other is to insure properties that could be harmed by cheetahs, such as herds.

    He further noted that the program is likely to help the protection of other wild animals such as the black bear since cheetahs are scattered in a lot of areas that are habitat to other animals as well.

    The Asian black bear is another endangered species in Iran. Nine Asian black bears have been killed in Iran over the past three years, despite the species being listed as endangered, a November 26 report said.

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  • President Aliyev awards policemen killed during Nardaran shootout
    27.11.2015 15:48
    Baku, Azerbaijan, Nov.27


    President of Azerbaijan Ilham Aliyev signed a decree Nov.27 to award two policemen who died heroically during the special operation in Baku's Nardaran settlement Nov.26.

    Police sergeants Vugar Nasibov and Ismayil Taghiyev were posthumously awarded with Azerbaijani Flag Order for their special merits for ensuring the socio-political stability in Azerbaijan and for bravery.

    An armed criminal group, which was operating under the guise of religion and was planning to forcibly change the constitutional order in Azerbaijan by staging provocations, mass riots and terrorist attacks, was neutralized as a result of the operation, said the decree.

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  • Turkey exceeded its limits
    27.11.2015 15:47
    Baku, Azerbaijan, Nov. 26


    Moscow thinks that Ankara has exceeded its limits, Russian Foreign Minister Sergey Lavrov said, RIA Novosti reported.

    "We think that the Turkish leadership has exceeded its limits," Lavrov said. "Turkey may face some problems in terms of long-term national interests and the situation in the region."

    Russia-Turkey relations deteriorated after the incident with the Russian Su-24 warplane, shot down by the Turkish Air Force Nov. 24.

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  • Armenian government oppresses village residents
    27.11.2015 15:31
    /By AzerNews/

    By Laman Sadigova

    Unbelievable and shocking case happened in Armenia when local banks decided to announce the bankruptcy of the whole village.

    The situation in the country is so catastrophic that the corrupted government is ready to resort to any measures only to clean up more money.

    The economic situation in the country forces population to run abroad with a hope on a better life. Now, extremely poor people still left in Armenia for various reasons, are "locked in the cage" with greedy and criminal government.

    The Armenian officials, despite the deplorable situation in the country, does nothing to improve it and to increase people's level of life. The country's population is starving while the corrupted authorities live in their big houses built on stolen money.

    Villagers in Armenia has no other source of income but only selling their harvest, in particular, grapes. Earlier, when situation was not as critic as now, the local people took credits that helped them to make business.

    The villagers mainly processed table grape, which is exported to Russia every year. Last year, the purchase price of grapes ranged from 300 to 350 drams. But this year, they were purchased for 120-130 AMD.

    But now, they simply cannot pay the bills back and the government instead of help destines them to even a worse fate.

    For the sake of small sums of money Armenian banks are ready to declare bankrupt the entire village and leave its every resident homeless.

    "90 percent of the residents have unpaid credits and nobody can pay them,'' the local residents say.

    People in poor villages have no money to buy bread and demand the banks to show understanding. But the bank representatives continue to assert that the credit should be returned, threatening that they will address the court to get their money back.

    Devastated and angry residents have decided to protest against the banks and organizations that provide loans after they promised people to leave them homeless.

    The residents of Arevik Pshatavan, Alashkert and other villages refuse to pay the loans referring to their insolvency.

    They believe that banks and credit organizations see only one way to return money -- to recognize the village a bankrupt via the court, depriving people of their homes.

    Some villagers claim that the courts have no rights to make such massive decisions. Moreover, they are convinced that the Compulsory Enforcement Service will not be able to find such human resources to expel the peasants out of their homes.

    Situation in Armenia is only heating up as the population shows no trust to the officials. Country is bursting from protests and words about change in the government are sounded more often.

    Locals are sure that the courtв's decision will be in favor of banks in corrupted Armenia and the court will confiscate their property via the auction.

    People cannot make ends meet as the crisis in Armenia breaks all the records.

    Armenian population massively leaves the country as they find no opportunity to work and live here. The countryв's greedy and corrupted government does nothing to improve situation and give people at least a chance for a better live. The corrupted authorities suppress every effort to establish honest business and to stabilize the situation in Armenia.

    Armenia has limited economic resources due to the aggressive policy towards its neighboring country, which left the country blocked and weak.

    While every third of the population live below the poverty line and now, the countryв's officials want to finally ''break'' its own population, pushing them headlong into debts.
  • EU to allocate 100M euro to Georgia
    27.11.2015 15:30
    Baku, Azerbaijan, Nov. 27

    By Anakhanum Khidayatova - Trend:

    The European Commission has adopted a new assistance package for Georgia totalling euro;100 million. The money will support reforms related to the EU-Georgia Association Agreement and agreements on mobility, the European Commission said Nov. 27.

    The new package will additionally support Georgia in meeting its reform objectives in the sectors of public administration, agriculture and rural development. It will help to promote an active civil society, assist key Georgian institutions in implementing the Association Agreement and advance Georgia's visa liberalisation process with the EU.

    The three main priorities of the current programming period (2014-2017) are: Public administration reform; agriculture and rural development; justice reform.

    In June 2014 the EU and Georgia signed an Association Agreement, which includes a Deep and Comprehensive Free Trade Area (AA/DCFTA). The Agreement significantly deepens political and economic ties with the EU in the framework of the Eastern Partnership.

    Additionally, respect for democratic principles, human rights and fundamental freedoms, constitute essential elements of this new generation Association Agreement. In addition, mobility of persons is high on the EU-Georgia agenda, particularly through implementation of the Visa Liberalisation Action Plan (VLAP) and Readmission Agreement.

    The Eastern Partnership is the EU project aimed at developing the integration relations of the EU with six former USSR countries - Azerbaijan, Armenia, Belarus, Georgia, Moldova and Ukraine.

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