Russia’s foreign minister on Tuesday angrily dismissed calls for an arms embargo on Syria and warned against imposing ultimatums on President Bashar Assad’s government. Sergey Lavrov said that calls for an arms embargo on Syria are “unfair,” adding that militant groups opposing the government have been armed from the outside. He drew parallels to the [...]
Turkey’s economy is set for a soft landing in 2012, continuing to grow, yet at a slower pace, HSBC chief economist Melis Metiner told Today’s Zaman on Tuesday. Speaking after an HSBC press breakfast, Metiner said she expected Turkey to experience a soft landing next year, with growth slowing “from a projected 7 percent in [...]
Turkey is set to build a 1 billion-cubic-meter gas depository under a lake in central Anatolia in a bid to improve its energy security. The country plans to build more depots Turkey’s state-run pipeline company BOTAŠand China’s Tianchen Engineering (TCC) have signed a $559 million deal to build a 1 billion-cubic-meter gas depository under [...]
A consortium of Indian companies has won the rights to develop Afghanistan’s largest iron ore deposits, a mining ministry official said yesterday, underscoring growing ties between the two countries. Seven Indian companies, led by the state-owned Steel Authority of India (SAI), won a $10.3 billion deal to exploit three of four blocks at the Hajigak [...]
An order to “standby†has been given to 20,000 Greek civil servants Nov. 28 within the scope of the country’s austerity plan backed by the European Union and International Monetary Fund (IMF). The Greek government had announced earlier it would place 180,000 out of 300,000 jobs on hold, calling it a “standby,†a new term [...]
Turkey plans to bypass Syria for regional trade if conditions in the neighboring country deteriorate, Transport Minister Binali Yıldırım says adding that Turkey’s measures would not harm Syrian people Turkey is planning to open new border crossings with Iraq to provide alternative transit routes for trade with the Middle East that bypass Syria, Transport Minister [...]
The Iranian protester have just taken 6 people as hostages in the British embassy compound in Tehran, Reuters reported. Iranian protesters had enetered the embassy earlier today and had removed the mission’s flag, replacing it with an Iranian one, an AFP journalist at the scene reported. The dozens of protesters were also shown live on [...]
European refineries are facing closures due to poor demand, a result of slow growth and the euro crisis, according to an oil professional. Meanwhile Turkey and the Middle East are seeking ways to increase their production capacities The ongoing European economic crisis has paved the way for a significant decline in oil products in debt-hit [...]
Greek Petrol (ELPE), the biggest oil refinery in Greece, has refused to supply the Greek Army with oil after the land forces failed to pay a 43 million euro debt. The embargo has also left the Greek police (ELAS) without gas for its vehicles, according to Greek daily Kathimerini. ELAS ran out of gas reserves [...]
Russia activated a radar warning system in its exclave of Kaliningrad on the borders of the European Union yesterday in response to Western plans for a U.S. missile shield in Europe. The Voronezh-DM station will assume immediate combat readiness, President Dmitry Medvedev said at the facility’s inauguration, just days after threatening to deploy missiles in [...]
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