As the freshly waged oil price war by Saudi Arabia against Russia threatens to turn into another serious challenge for Russia’s energy-based economy, the country’s authorities were quick to send messages reassuring they are up to the task, Daily Sabah writes.
While Russian markets were closed following International Women’s Day, the...
X5 Retail Group added around 1,245 new partners to its network of suppliers in Russia in 2019, the company said last week, according to Dairy News.
The retail giant aims to build long-term and mutually beneficial relationships with local producers through these partnerships. The move will help the company to expand...
A source in OPEC familiar with the plans of the Saudi authorities told TASS on Monday that Saudi Arabia has not launched a price war against Russia and considers Moscow an important partner on the oil market.
"That is not true. Saudi Arabia does not plan any price wars against Russia....
Russian low-cost carrier Pobeda (part of Aeroflot Group) has canceled flights to Italy (Bergamo, Rome, Rimini, Pisa and Treviso) scheduled for March 11 through 31 after a quarantine imposed by the Italian government on some provinces, the airline said in a statement on Sunday, according to Gazeta.ru.
"Low-cost airline Pobeda, part...
The price of gold jumped past $1,700 per ounce on Monday for the first time since late 2012, as growing fears over the rapidly spreading coronavirus outbreak and a plunge in crude oil hammered equities and sent investors scurrying for safe havens, Reuters reported.
By 0054 GMT, spot gold rose...
Russia is getting ready for a protracted slump in global oil prices and could use its $150 billion wealth fund to support the ruble as a breakdown in talks with OPEC kicked off a price war and pushed the currency to its weakest level in four years, Bloomberg reported.
Under the government’s...
The shares of some of Russia’s biggest companies collapsed on Monday, as the fallout from Moscow rejecting an oil production pact with Saudi Arabia rocks global financial markets, RIA Novosti reports.
Among the biggest losers were state-run lenders Sberbank and VTB, which both plunged by more than 20% when European markets opened. Another state-owned...
The volume of rail freight transportation between Russia and Azerbaijan amounted to 6,240 tons in 2019, while in 2018 and 2017 this indicator was 4,744 tons and 4,774 tons, respectively, the chairman of Azerbaijan Railways has said, according to AzerNews.
According to Javid Gurbanov, this type of transportation increased by 31.5 percent...
A chicken processing factory in the Vietnamese capital, Hanoi, has become the first business in the country to receive a license to export processed chicken products to Russia, Vietnam Plus reported.
The Department of Animal Health under the Ministry of Agriculture and Rural Development on March 8 said the Russian...
In what appeared like the start of a price war aimed at Russia, Saudi Arabia slashed its export oil prices over the weekend, sending global crude prices down 30% in a crash not seen since 1991, CNN reports.
Riyadh’s move could have potentially devastating repercussions for Russia’s ally Venezuela, Saudi...
