Author: Steven Sahiounie

Earlier, IKEA said it planned to choose one of the four potential buyers. IKEA, a Swedish manufacturer of furniture and home accessories, plans to reach an agreement with potential buyers of its enterprises in Russia by the end of the year, Russian Deputy Prime Minister Denis Manturov told TASS in an interview.”Currently, IKEA representatives continue to negotiate with potential buyers of their enterprises,” he said. “IKEA is poised to reach a framework agreement with the buyer or the buyers by the end of the year.”Earlier, IKEA said it planned to choose one of the four potential buyers by January 2023.…

Aurus is the first Russian luxury car brand, which started to be built in 2013 under a contract with the Industry and Trade Ministry. Rusklimat, a Russian manufacturer of various climate control devices, may use the Aurus brand for its products, Russian Deputy Prime Minister Denis Manturov told TASS in an interview, adding that it may also be used for clothes, business jets and yachts.”In fact, lots of companies are eager to get the right to use the Aurus umbrella brand for their products. For example, the Rusklimat manufacturing company has signaled its intention to do so. They want to…

This year in tech, too much happened and very little of it made sense. It was like we were being controlled by a random number generator that would dictate the whims of the tech industry, leading to multiple “biggest news stories of the year” happening over the course of a month, all completely disconnected from one another.I can’t stop thinking about a very good tweet I saw last month, which encapsulated the absurdity of the year — it was something along the lines of, “Meta laid off 11,000 people and it’s only the third biggest tech story of the week.”…

While NASA’s Artemis missions—which aim to return astronauts to the moon and eventually to Mars—may be top of mind for the agency’s innovation this year and in the future, NASA explored other innovations in 2022.Some of these innovations will help with the Artemis missions. For example, the agency’s Cislunar Autonomous Positioning System Technology Operations and Navigation Experiment—or CAPSTONE—spacecraft is testing a desired orbit around the moon. It is also a demonstration to showcase the reliability of new technology for missions in the future, such as a navigational software, and a way for the CAPSTONE spacecraft to determine its position without having…

The online video advertising space has been historically dominated by films and broadcasters with the SuperBowl being the most noteworthy example of big spending in the industry – for those that watch it online. TV, streaming and entertainment platforms are pushing to move into the lucrative space recently with Netflix building and starting an ad-supported version of their site. However, technology research firm Omdia has painted a changing narrative for online video ads.Alphabet, Amazon, Meta and Apple – the primary and most well-known tech entities will garner just under 70% of the market, excluding China. This equates to around $500…

Kiev cited the destruction of the country’s energy infrastructure as the main reason behind the decisionUkraine will raise transit fees for Russian oil running via the Druzhba pipeline through its territory to the EU on January 1, Russian oil exporter Transneft announced on its website on Monday.It is expected that Kiev will increase tariffs for transporting crude to Hungary and Slovakia by €2.10 per ton to €13.60 ($13.90), bringing the total hike to 18.3%.In November, Bloomberg reported that Ukraine was mulling a tariff hike on Russian oil transit starting next year, citing a letter from Ukrtransnafta, the operator of Ukraine’s…

The Kirinskoye deposit in Russia’s Far East has reached a production rate of 9.3 million cubic meters per day, according to the companyRussian energy giant Gazprom has boosted production levels to record highs at one of the largest gas condensate fields on the Sakhalin Shelf, the company reported on Monday.   The Kirinskoye field in the Sea of Okhotsk was launched nine years ago and is Russia’s first gas deposit to utilize an underwater complex for production.   Daily output reached record levels of nearly 9.3 million cubic meters (mcm) of gas in October, according to the head of the Gazprom subsidiary…

Cooperation between Tehran and the Eurasian Economic Union has accelerated since the start of 2022Iran will sign a free-trade agreement with the Eurasian Economic Union (EEU) on January 18, a spokesman for the country’s Industry Ministry, Omid Ghalibaf, announced on Tuesday.The EEU, which is based on the Customs Union of Russia, Kazakhstan, and Belarus, was established in 2015. It was later joined by Armenia and Kyrgyzstan. In 2016, Vietnam officially became the first non-regional country to become a free-trade partner of the bloc. The union is designed to ensure the free movement of goods, services, capital, and workers between member…

The central bank has proposed giving banks more time to create reserves in the event the funds are irretrievableThe Central Bank of Russia stated on Tuesday that it considers the chances of Western countries returning Russian assets frozen by sanctions “extremely low.” This is despite the fact that legally they haven’t been confiscated, the regulator pointed out.A portion of the assets of Russian banks have been completely blocked. This mainly affected claims on counterparties from the so-called “unfriendly” states and payments on bonds that were stuck in the international clearing systems Euroclear and Clearstream.A number of banks also had their…

The move is in response to a Western coalition price limit on Russia’s seaborne oil exportsPresident Vladimir Putin on Tuesday signed a decree on retaliatory measures to the West’s price cap on Russian oil exports. It comes in response to the measure from the EU, G7 countries, and Australia, which took effect earlier this month.The presidential decree bans the supply of oil and petroleum products from Russia to countries which apply a price cap in contracts. It also prohibits deliveries if the contracts directly or indirectly specify the cap.According to the decree, which was published on the government’s website for…