Author: Steven Sahiounie

The group has been actively investing in the development of its assets in Bulgaria for more than 20 years, with investments in the Burgas refinery having surpassed $3.4 bln MOSCOW, December 5. /TASS/. Lukoil has started reviewing its strategy regarding assets in Bulgaria, with sale of the business not ruled out, the Russian oil major said in a statement. “In view of the significant change in the operating conditions of the Lukoil Group companies in Bulgaria, the company has commenced work to review its strategy with respect to this asset. Various options will be analyzed with the involvement of international…

It is noted that transactions will be carried out from December 7, 2023 to January 12, 2024, with daily purchases of foreign currency and gold equaling 11.7 bln rubles MOSCOW, December 5. /TASS/. Russia’s federal budget may receive 362 bln rubles ($3.9 bln) worth of additional oil and gas revenues in December 2023, according to a statement released on the Finance Ministry’s website. “Additional oil and gas revenues of the federal budget are projected at 362 bln rubles in December 2023. The deviation of virtual oil and gas revenues from the expected monthly amount of oil and gas revenues amounted…

Phosphoric acid production gained 5.3% to 3,063 mln metric tons within 11 months of this year MOSCOW, December 4. /TASS/. PhosAgro plans to boost production output by 1.4 mln metric tons against the current level, the Russian company said. The production plan for the company is 11.3 mln metric tons in 2023. “PhosAgro’s plans are to further increase the output of agricultural chemicals: by 1.4 mln metric tons in 2026 against the expected level of 2023. Incremental growth will be supported on account of developing phosphoric and sulfuric acid production, whose output growth will stand at 7% against the 2023…

The euro dropped by 47.5 kopecks to 98.02 rubles MOSCOW, December 5. /TASS/. The dollar dropped by 12.25 kopecks to 90.8 rubles at the opening of trading on the Moscow Exchange on Tuesday. The euro dropped by 47.5 kopecks to 98.02 rubles. The yuan grew by 0.55 kopecks to 12.738 rubles. Source: Tass

At least 50 people have been killed by Israeli attacks on the Nuseirat refugee camp in central Gaza and Khan Younis in southern Gaza on Tuesday, Palestinian news agency Wafa reported. Dozens of wounded were reportedly rushed to the city’s Nasser hospital. Source: AlJazeera

In the meantime, the dollar moved up by 0.58% to 91.46 rubles MOSCOW, December 5. /TASS/. The euro exchange rate exceeded 99 rubles on the Moscow Exchange for the first time since November 7. As of 7:29 a.m. Moscow time (4:29 a.m. GMT), the euro rose by 0.56% to 99.05 rubles. The European currency was up to 99.22 rubles by 7:44 a.m. Moscow time. In the meantime, the dollar moved up by 0.58% to 91.46 rubles. The Chinese yuan rose by 0.51% to 12.798 rubles. Source: Tass

The parties are expected to discuss economic cooperation, as well as a number of regional and international problems Iranian President Ebrahim Raisi will visit Moscow on December 7 accompanied by a delegation, the Tasnim news agency reports. According to the media outlet, the visit will take place at the invitation of Russian President Vladimir Putin. The parties are expected to discuss economic cooperation, as well as a number of regional and international problems, including the Palestinian issue and recent developments in the Gaza Strip. The presidents of Russia and Iran last held talks on October 16, when they discussed the Gaza situation…

According to S&P Global analytical agency, new export orders rose at a marked pace MOSCOW, December 5. /TASS/. Russia’s Services PMI Business Activity Index fell to 52.2 points in November 2023 from 53.6 points in the previous month, S&P Global analytical agency reported. “The index retreated further from August’s recent high and signaled the weakest expansion in business activity in the current ten-month sequence of growth,” the report said. New export orders rose at a marked pace, with the rate of increase among the steepest in over nine years of data collection for the series, with the upturn supported by…

The Israeli army says it has surrounded the Jabalia refugee camp in Gaza after destroying what it called “terrorist infrastructure”. Jabalia camp, the largest in Gaza, has already been the target of Israeli air attacks multiple times since October 7, resulting in the killing of hundreds of people and destruction of infrastructure. Source: AlJazeera

The move is part of a wider trend as tech companies seek savings amid a slower-than-expected economy. Spotify has announced a third major round of staff cuts this year. The music streaming giant said on Monday that it will lay off about 1,500 employees, or 17 percent of its headcount, to bring down costs. The announcement follows the release of 600 staff in January and a further 200 in June. The move fits with a growing trend in the tech sector, with economic conditions remaining more sluggish than expected. Following a round of redundancies at the start of the year, companies including…