Author: Steven Sahiounie

According to statistics, the total number of unemployed in Russia in July amounted to 2.3 mln people MOSCOW, August 30. /TASS/. The unemployment rate in Russia in July 2023 decreased to 3% from 3.1% in June, hitting a fresh all-time low again, the Russian State Statistics Service (Rosstat) reported. “The unemployment rate of the population aged 15 years and older in July 2023 amounted to 3% (excluding the seasonal factor),” the service said. According to statistics, the total number of unemployed in Russia in July amounted to 2.3 mln people. Source: Tass

On Wednesday, the leaders of growth on the Russian stock market were shares of TMK (+3.7%) MOSCOW, August 30. /TASS/. The Russian stock indices showed mixed dynamics on Wednesday. By the end of trading session on the Moscow Exchange, the MOEX index edged up by 0.04%, to 3,212.68 points, the dollar-denominated RTS index fell by 0.75% to 1,052.06 points. At the end of the day, the dollar-to-ruble rate rose by 0.76% closing at 96.22 rubles, the euro rate went up by 1.65% to 105.28 rubles, the yuan rate edged up by 0.076% to 13.17 rubles. “The MOEX index again slightly…

It is noted that there is no shortage of supply on the fuel market of the country now and there is a balance on the stock exchange MOSCOW, August 30. /TASS/. The government is currently working on a number of measures that will help stabilize the situation on the Russian fuel market, Deputy Prime Minister Alexander Novak told reporters. In the near future, a list of companies that will be allowed to export fuel may be drawn up, he added. The government also intends to increase the standards for the minimum level of fuel supplies to the exchange and optimize…

The ministry also drew attention to the growth in investment activity in the second quarter, which turned out to be significantly higher than expected and forecast estimates MOSCOW, August 30. /TASS/. Russia’s GDP increased by 5% year-on-year in July 2023, the Economic Development Ministry stated in the review of the current situation in the national economy. “In annual terms, GDP growth exceeded the level of last year by 5.0% (+5.7% in June), and the level of two years ago by 0.8% (+0.3% in June). In general, for 7 months 2023, GDP grew by 2.1% (1.6% in the first half of…

The initial pouring of concrete will take place in Q4 2023, NPPA added CAIRO, August 30. /TASS/. The Nuclear Power Plants Authority of Egypt (NPPA) has received permission to start construction on the fourth power generating unit of the El Dabaa nuclear power plant (NPP) that is being built in partnership with Rosatom. “The NPPA managed to take a new landmark step in the history of the El Dabaa nuclear project, <…> as it received a permit to build the fourth power generating unit,” according to a statement released on its official page on Facebook (prohibited in Russia due to…

The US turned away from economic leadership in line with the policy of former president Donald Trump, a course that was then affirmed by incumbent President Joe Biden, an article in Bloomberg said. The International Monetary Fund (IMF) and the World Bank are “increasingly rudderless” and don’t meet the interests of BRICS members, it said. Russian President Vladimir Putin and Indian Prime Minister Narendra Modi noted, when they spoke by phone on August 28, that BRICS expansion would undoubtedly help bolster the group’s influence in international affairs, the Kremlin said, TASS reported. The BRICS held a summit in Johannesburg from…

China and Pakistan Economic Corridor (CPEC) and Belt and Road Initiative (BRI) projects have given a fresh impetus to the unions and created a path of opportunities for Turkey and Pakistan, Moazam Ali Ghurki emphasized. He went on to say that Turkey’s exports to China will find a simple route through Pakistan and direct the goods to the lucrative Chinese markets, FARS news agency reported. Turning to the huge investment of Turkey in Pakistan, exceeding $1 billion, Senior Vice President of Pakistan-China Joint Chamber of Commerce & Industry (PCJCCI) Fang Yulong pointed out that their strategic partnership includes various sectors such as science, technology,…

In a meeting with Amirabdollahian on Tuesday, Iran’s Ambassador to New Delhi Iraj Elahi briefed the foreign minister on the progress in cooperation between the two nations and the plans to hold a meeting of Joint Economic Commission in the near future. The foreign minister emphasized in the meeting that India has a significant place in Iran’s policy of orientation to the East, calling for efforts to expedite the implementation of the joint projects. Amirabdollahian also expressed hope that the final version of an agreement with India on the development of Chabahar port would be signed in the near future.…

Ali Akbar Safaei pointed to the latest status of the contract inked with India for developing the Chabahar Port and stated that all problems of this contract were settled as of the beginning of the current administration, which assumed office in August 2021. “Only one paragraph of the agreement has remained unsettled that should be addressed in less than a month.” He put the value of the contract at $85 million in the form of Build-Operate-Transfer (BOT). Completion of the construction operation of this giant project in the second phase will be carried out through investment of some other foreign…

CEO of the National Iranian Company Mohsen Khojastehmehr stated that the development and maximal production of both onshore and offshore joint oil and gas fields is the approach taken by the current administration. Producing 5.7 million barrels of oil per day (bpd) is the main objective followed by the National Iranian Oil Company by 2029, he said, adding that $90 billion of investment is needed in this sector to materialize the objective. Development of the South Pars Gas Field was put at the top agenda of the administration of President Ebrahim Raisi when he assumed office in August 2021, Khojastehmehr emphasized. The gas field is…