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Monthly Archives: July 2014

US may end controversial five-year ‘easy money’ program in October

The US Federal Reserve said it could end the controversial five-year-old ‘quantitative easing’ program that has pumped about $4 trillion into the US economy as early as October, if there are no signs the economy is still in trouble. “If the economy progresses about as the [Fed] expects, warranting reductions …

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China buys $22bn worth of US homes, leads global pack

Foreign buyers of US residential real estate surged 35 percent last year, with Chinese buyers, searching for moderately priced, safe investments in a sea of economic and political uncertainty, outspending the rest of the world. Chinese buyers spent $22 billion on US homes in the 12-month period ending in March, …

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‘MasterIndex study’  in Georgia discovered high usage

of payment cards by Georgians Tbilisi, Georgia, July 7, 2014 – MasterCard announces the results of MasterIndex study in Georgia. MasterIndex surveys are regularly conducted in different countries by MasterCard, to identify payment cards usage and habits, motivations or barriers. As practice shows, the survey gives very important and reliable …

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Kazakhstan seeks to issue visas in e-format

Kazakhstan’s Foreign Ministry intends to start issuing visas in electronic format. First Deputy Foreign Minister Rapil Zhoshybayev made the remark at a press conference in Astana on July 10. “The ministry initiated amendments to the existing rules of issuing Kazakh visas. The basis of new edition of the rules will …

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Russia pushes for BRICS energy association

Russia is to urge its BRICS counterparts to set up an energy association that will include a fuel reserve, as well as the institute for energy policy, according to Russian presidential aide Yuri Ushakov. “Russia will propose a number of specific issues for consideration, including establishing a BRICS energy association …

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Ukraine gas debt exceeds $5bn, no June payments made – Gazprom

Ukraine’s gas bill has risen another $838 million, after Kiev failed to make a payment for 1.7 billion cubic meters of Russian gas supplied in the first half of June. “The deadline for paying June bills expired yesterday; we again didn’t receive the money from Naftogaz Ukraine. As a result Ukraine’s debt …

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Western donors urge more money to help Ukraine recovery

Ukraine’s international donors including the EU, the US, Canada, Japan, and some international organizations have agreed further assistance to Kiev is crucial. They also said the Association Agreement with the EU opens a new stage in bilateral relations. In a jointstatement published on Tuesday Ukraine’s donors didn’t specify a particular amount …

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SOCAR opens new offshore well

Azerbaijan’s state energy company SOCAR has commissioned a new well in the shallow part of Guneshli field in the Azerbaijani sector of the Caspian Sea. The well, located on the Guneshli-11 platform, was included into the operational fund with a daily debit of 85 tonnes of oil and 16,000 cubic …

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UK says Europe needs stable energy suppliers, such as Azerbaijan

The development and strengthening of relations with Azerbaijan is among the main priorities of the UK foreign policy, British Energy Minister Michael Fallon said in Baku on July 10. Fallon arrived in Azerbaijan on July 9 for a three day visit to hold talks over new areas of cooperation with …

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Azerbaijan increases quota in IMF

Azerbaijan’s decision to increase its quota in the International Monetary Fund (IMF) – adopted at a Baku meeting of the IMF voting group and the World Bank – reflects the country’s high level of economic development. “The country now ranks 65th in the world by economy’s volume, compared to 1995, …

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World Bank to finance new projects in Azerbaijan

The World Bank will allocate additional financing for two projects in Azerbaijan. The WB Board of Executive Directors approved on July 9 two International Bank for Reconstruction and Development (IBRD) loans to the Azerbaijan, a message by the Bank said. Loans in the amount of $100 and 50 million will …

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