A consortium set up between the Russian Direct Investment Fund (RDIF) and a group of GCC investors has bought a 12% stake in Russian Helicopters, it announced yesterday. The deal entails an up-front investment of $300m with a further $600m to follow at a later date.
The cash injection (more…)
China’s plans to build a 350km, $2.89m high-speed railway between Belgrade and Budapest are under investigation by the authorities in Brussels on the grounds that they may fall foul of EU laws which stipulate that transport projects of this magnitude should be put out to public tender.
An MoU (more…)
New Delhi and Moscow are finally getting close to signing off on the $1bn joint venture for the construction of Kamov-226 helicopters after the idea was revived two years after it was first suggested by President Vladimir Putin. 140 of the 200 helicopters in the initial order will be built in India as part of Prime Minister Narendra Modi’s drive (more…)reuters Read More»
E-commerce giant Amazon could be facing penalties from the US Treasury, it has emerged, after it told both the Office of Foreign Assets Control and the Department of Commerce’s Bureau of Industry and Security that it had sold a variety of consumer products to individuals and unspecified groups controlled or owned by the Iranian government.
The goods ranged from apparel to software to pet products and cost $50 to about $2,400, according to the filing, and mean that Amazon has in all probability contravened the Iran Threat Reduction Action signed by former President Barack Obama in 2012 to strengthen trade restrictions on Iran and try to persuade it to stop its nuclear activities. In January 2016, the U.S. lifted some of the economic sanctions tied to the nuclear program.
The transactions appear to have came to light during an internal review which a spokesperson described as “ongoing” and which highlights the nervousness currently sweeping corporate America about the Trump administration taking an increasingly hard line towards companies doing business with Iran.
Turkey looks set to celebrate the 101st anniversary of the Canakkale War – better known to the rest of the world as the Gallipoli campaign when the Allies of the First World War launched a costly and unsuccessful assault on the Dardanelles – with a ground breaking ceremony to mark the start of construction of the $2.6bn suspension bridge over the Dardanelles Strait, (more…)hurriyetdailynews Read More»
A combination of targeted fiscal support, exchange rate adjustment, strengthened domestic liquidity management and structural reforms have helped Kazakhstan counter the effects of lower oil prices and slower growth in Russia, China and Europe, the IMF pronounced this week; and, while GDP growth slowed to 1% in 2016, it is expected to bounce back to 2.5% in the current year.
The new axis that has been developing between Istanbul and Moscow in recent months appeared to strengthen even further yesterday when President Vladimir Putin signed a bill ratifying the construction of the Turkish Stream pipeline that will eventually carry natural gas from Russia under the Black Sea to Thrace on Turkey’s border with Greece.
Turkish Stream (more…)