Author: Steven Sahiounie

Gazprom said earlier that the holding’s net profit attributable to shareholders under International Financial Reporting Standards (IFRS) amounted to 296.2 bln rubles ($3.09 bln) in 1H 2023 MOSCOW, August 29. /TASS/. Gazprom’s dividend base amounted to 618 bln rubles ($6.4 bln) in the first half of 2023, according to Deputy Chief Executive Famil Sadygov. “The dividend policy suggests adjustment of the dividend base for non-cash items, which protects shareholder returns from elevated volatility on the foreign currency market among other things. Taking this into account, the dividend base for 6M 2023 amounted to 618 bln rubles,” he said. Gazprom said…

In January-June, the company increased sales of fertilizers to North and Latin America and the CIS countries MOSCOW, August 29. /TASS/. Fertilizer producer Phosagro increased the production of mineral fertilizers and other products by 4.3% year-on-year in the first half of 2023, to 5.7 million tons, the company said in a statement. “In 1H 2023, production of mineral fertilizers and other chemicals increased by 4.3% year-on-year to over 5.6 million tons. This growth was driven primarily by an increase in DAP/MAP production during the ramp-up to design capacity at the production complex in Volkhov, which was built as part of…

Net interest revenue of TCS Group as of June 30, 2023, surpassed 100 bln rubles ($1.04 bln) against 66.3 bln rubles ($693.63 mln) as of June 30, 2022 MOSCOW, August 29. /TASS/. Net profit of TCS Group, the parent structure of Tinkoff Bank, under the International Financial Reporting Standards (IFRS) for the first half of 2023 amounted to 36.6 bln rubles ($382.97 mln), which is 8-fold more than in the same period last year, the group said on Tuesday. The group’s net profit for the Q2 of 2023 amounted to 20.4 bln rubles ($213.46 mln), which is almost 7-fold more…

Algerian hydrocarbon company Sonatrach announced on Tuesday that it had discovered during the first half of this year 10 new oil and gas fields.This came in an interview conducted by  Algerian Radio On Tuesday, with Rabih Badji, director of Sonatrach’s exploration department. Most of these explorations “are located near existing facilities and exploitation areas, which will allow the company to quickly integrate them into production operations,” Badji said. The Algerian official did not announce the expected volume of production in the 10 new fields, but said that “the corporation is currently conducting an audit and evaluation of the profitability of these…

Egyptian Petroleum Minister Tarek El Molla said that his ministry is working to accelerate the development of the realized discoveries and put them on the production map as soon as possible. According to the Egyptian government’s statement, this came during his meeting with Prime Minister Mostafa Madbouly, on Tuesday. During the meeting, the Minister of Petroleum and Mineral Resources reviewed the development and exploration activities.  He explained that a plan is being implemented to drill 45 natural gas wells in the Mediterranean Sea and the Delta with investments of about $ 1.9 billion, including drilling 10 wells that were completed…

Events of the International Meeting of the Fifteenth Summit “BRICS 2023” Indian writer S.L. Kanthan explains why BRICS 2023 may be marked as “the historic event that changed the 21st century” and even ushered in a multipolar world, ushering in a period of justice, equity, prosperity and peace.It was considered in an article he wrote for “Sputnik” Hindi versionThe 15th BRICS Summit is a revival of the 1955 Bandung Conference, which brought together Asian countries to establish a post-colonial framework for development and peace. 6 countries join BRICS strategic options Confirm. Kanthan An Accession of 6 countries The BRICS economic bloc…

During a meeting with the US Secretary of Commerce, the Chinese Premier Li Qiang stresses the drawbacks of US trade policy on bilateral relations. US Commerce Secretary Gina Raimondo met with Chinese Premier Li Qiang on Tuesday in an effort to improve relations between the world’s two largest economies. However, the meeting was overshadowed by disagreements over trade policy. Li criticized US trade curbs against China, saying they were “politicizing economic and trade issues and overstretching the concept of security will… seriously affect bilateral relations and mutual trust,” he told Raimondo, according to China’s official Xinhua news agency. Li said the US policy on…

Riyadh risks running into a budget deficit as its oil revenue falls due to previous output slashes. Saudi Arabia’s foreign reserves have fallen to $407 billion, their lowest in over a decade, as July’s central bank reported a $16 billion drop in currency assets. This comes after an increase in net foreign reserves for two months in a row during May and June. But the latest numbers revealed that these figures saw their sharpest decline since the pandemic – which resulted in negative oil demand – and hit their lowest volume since 2009. Riyadh also slashed its oil output in…

A senior government official says diplomats of the two countries are exchanging “elementary views” on holding the top-level meeting. South Korea and China are in talks to organize a summit between South Korean President Yoon Suk-yeol and his Chinese counterpart Xi Jinping in early September, South Korean news agency Yonhap reported on Tuesday, citing South Korean officials. A senior government official told the news agency that diplomats of the two countries are exchanging “elementary views” on holding the top-level meeting. The report pointed out that the meeting could take place on the sidelines of a multilateral summit event early next month. “Positive…

Justice Minister Eric Dupond-Moretti is urging for a “rapid, firm and systematic” response from magistrates in light of the worst urban violence in the country since 2005, as many courts are carrying out fast-track trials for suspects. Justice Minister Eric Dupond-Moretti confirmed on Tuesday that close to 2,000 people have been convicted in France after nationwide riots burst out in June over the fatal police shooting of the French teenager, Nahel Merzouk, during a traffic stop. He continued to urge for a “rapid, firm and systematic” response from magistrates in light of the worst urban violence in the country since the year…