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Cooperation

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Building machinery to be produced in Azerbaijan's Ganca

An automobile plant in Azerbaijan's Ganca and the German companyHaller signed a long-term agreement today to start production ofmachinery based on MAZ cars with Haller equipment, Trend reports,citing the enterprise.The contract will last 10 years. The vehicles will be produced in Azerbaijan.They plan to produce approximately 100-150 units for sale inAzerbaijan, Turkey and Georgia. The director of the Ganca automobileplant, Khanlar Fatiyev, said that most parts will be produced inAzerbaijan.

Norwegian company to build hydroelectric plants in Adzharia

A Norwegian company Clean Energy Invest obtained the right to build 4 hydroelectric plants on the Adzharistskali river, Business Georgia reports. Georgian Energy Minister Alexander Khetaguri said that two other Turkish companies, Kolin and Limak, participated in the tender.

Russian-Iranian co-operation to develop

The fifteenth International Exhibition “Oil, gas and oil-chemistry ofIran” in Tehran, with the participation of the Russian Ministry ofEnergy, has ended. Zarubezhneft, Sibur Holding and the Pipe Metallurgycompany presented their exhibits, Iran News reports.

News from Greece sees slump on European stock exchange

The leading European stock indexes declined sharply on Tuesday due toa sharp crisis of sovereign debts in European countries, resulting ina falling credit rating of Greece, RIA Novosti reports.The indicators of British FTSE 100 fell by 2.61% by the closing – to6159.51 points. German DAX dropped by 2.73% - to 6159.51 points. TheFrench indicator of CAC lost 3.82% - to 3844.60 points. The last largefall on stock markets happened at the end of 2009 due to theprolongation of a debt payout of Dubai World.

Azerbaijan to cooperate with Russia's Stavropol

Azerbaijan and Russia's Stavropol Territory will sign an agreement onWednesday on economic, scientific and cultural cooperation,Azerbaijani Deputy Prime Minister Ali Gasanov said at a business forumin Baku, Trend reports.Foreign turnover between Azerbaijan and Russia totalled $1.8 billionin 2009, which is some 60% higher than the average turnover betweenCIS countries, Gasanov said.

Russia and Ukraine to discuss Russia’s Black Sea Fleet

Russian President Dmitry Medvedev wants the State Duma to ratify the agreement between Russia and Ukraine prolonging the Russian fleet's presence in the Black Sea in Crimea for 25 years after 2017, RIA Novosti reports. Information on the document was placed in the State Duma’s database. President Medvedev and Ukrainian President Victor Yanukovich signed the agreement on April 21st in Sevastopol. The document says that the agreement may be prolonged by 5 years.

Russia gets ‘рф' domain

The International Corporation of Assigned Names and Numbers decided to provide Russia with a new ‘рф’ domain on 22nd April, RIA Novosti reports from the Ministry of Communications.“Russia became the world’s first country to receive a national Cyrillic domain - ‘рф’, says the ministry report.

SOCAR ready to provide 12 billion cubic meters of gas for Nabucco

The State Oil Company of the Azerbaijani Republic (SOCAR) confirmed its readiness to provide 12 billion cubic meters of gas for the Nabucco pipeline, the Bavarian state minister for federal and European issues Emilia Mueller said on Friday, after a meeting with SOCAR Vice-President Elshad Nasirov, Trend reports. “However, the pipeline will need 31 billion cubic meters of gas. That is why we are negotiating with other countries for their participation in the project”, Mueller said.

Trade turnover between Azerbaijan and Ukraine increased 4-fold

Trade turnover between Ukraine and Azerbaijan for January-February this year totals $261.6 million, 4 times greater than figures for the same period last year, former Ukrainian Ambassador to Azerbaijan Boris Klimchuk stated at a press-conference in Baku on April 22nd, AzerTAc reports.

Eastern Partnership countries to receive 9 million euros for cultural development

The tender for participation in the competition within the EasternPartnership cultural program was declared at the end of 2010. Theprogram is financed by the European Neighborhood and PartnershipInstrument (ENPI), and is worth 9 million euros, says the annualreport published by ENPI on the EuropeAid website.

Hotels for the 2014 Olympics to be built by Ismailov’s company

Telman Ismailov, the owner of the AST Group and co-owner of the closed Cherkizovsky market in Moscow, will build hotels for the SochiOlympics, reports RIA Novosti, referring to a source in the hotel sector, who said "a contract was signed on Thursday, concerning theconstruction of four thousand hotel rooms", information that has been confirmed by the state construction corporation "Olimpstroy".According to "Olimpstroy", the building of all new hotels in Sochi are being funded by private investment. Initially, it was planned to