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Daily Archives: December 16, 2014

Apple Stops Online Sales in Russia Over Ruble Fluctuations

St Petersburg International Economic Forum 2013 Closing Day

Apple Inc. has halted online sales in Russia due to “extreme” ruble fluctuations, the company said. “Our online store in Russia is currently unavailable while we review pricing,” Alan Hely, a spokesman for the Cupertino, California-based company, said today in an e-mailed statement. “We apologize to customers for any inconvenience.” Apple …

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Apple Stops Online Sales in Russia Over Ruble Fluctuations

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Apple Inc. (AAPL) has halted online sales in Russia due to “extreme” ruble fluctuations, the company said. “Our online store in Russia is currently unavailable while we review pricing,” Alan Hely, a spokesman for the Cupertino, California-based company, said today in an e-mailed statement. “We apologize to customers for any …

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Russian ruble suffers steepest drop in 16 years

Russian rouble banknotes are seen in this illustration picture taken in Moscow

The ruble plunged more than 10 percent for the second day on Tuesday and recorded its worst fall since the Russian financial crisis in 1998 as confidence in the central bank evaporated after an ineffectual overnight rate hike. The rouble opened around 10 percent stronger against the dollar following the …

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China to help boost oil recovery from fields in Kazakhstan

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Kazakhstan’s national oil and gas company KazMunaiGas (KMG) and the China National Petroleum Corporation (CNPC) will jointly work on increasing the oil recovery and utilization of the accompanying gas at fields in southern Kazakhstan. The agreement on the expansion of technical cooperation in the oil and gas sector between CNPC …

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Turkmenistan, Georgia mull Afghanistan-Turkmenistan-Azerbaijan-Georgia project

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Turkmen President Gurbanguly Berdimuhamedov and his Georgian counterpart Giorgi Margvelashvili have discussed the bilateral cooperation issues, Turkmen Dovlet Khabarlary (TDH) state news service reported. Georgian president is on an official visit to Ashgabat. The Georgian delegation included Economy Minister Giorgi Kvirikashvili, Deputy Foreign Minister David Jalagania, head of the Chamber …

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In November 2014 Exports Fell by 35%, Imports – by 7%

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According to preliminary data of Statistics Service,  in November exports from Georgia decreased by 35% and amounted to USD  203 million, imports decreased by 7%  and amounted to USD  725 million. A decline in exports began in August, while imports increased in September-October. In January-November 2014,  the foreign trade turnover …

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Russian Manufacturer Started Selling Cars in Georgia

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The Russian company GAZ Group, part of Russia’s largest diversified industrial group Basic Element, began to sell small commercial vehicles GazelNEXT in Georgia. According to the press service of the company, the Georgian market will be supplied with cars on gas and diesel engines. It is also planned to sell …

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A 17-year old high school student makes $72mn on stock market

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Mohammed Islam, a 17-year old school student from New York’s Stuyvesant High School, has made a $72 million fortune trading stocks in lunch breaks. The young investor hopes to become a billionaire next year. The son of Bengali immigrants from Queens, Islam spends most of his breaks trading oil and …

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Despite falling world prices, food prices continue to rise in Turkey

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While global food prices are falling, according to a recent report of the UN Food and Agriculture Organization (FAO), prices in Turkey continue to rise, implying that large price increases in Turkish markets stem not only from unfavorable weather conditions, as officials in the country have been claiming, but other …

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