Latest Articles about Economics
Beijing’s Stimulus Plan: Preemptive Crisis Management
China’s $586 billion (4 trillion yuan) stimulus package, which was announced before last weekend’s G20 Summit in Washington, has been hailed as indicative of Beijing’s commitment to stave off further bleeding from the global recession. World Bank Vice-President Justin Lin noted that the resuscitation effort... MORE
A New Ukrainian Russian Gas Confrontation
Just when the outlook for normalization in the Ukrainian-Russian gas relationship appeared on the horizon, Russian President Dmitry Medvedev and Gazprom head Alexei Miller have upset the gas cart.On November 20 Kommersant Daily reported that Medvedev and Miller threatened to charge Ukraine $400 per 1,000... MORE
Russia Says It May Abandon Nord Stream Pipeline – Part II
The Kremlin has warned that it might abandon the Nord Stream gas pipeline project on the Baltic seabed from Russia to Germany (see EDM, November 19). The warnings seem designed to line up wider European support for the project as well as to distract attention... MORE
Russia Says It May Abandon Nord Stream Pipeline and Switch to LNG
Russian Prime Minister Vladimir Putin warned on November 12, and Gazprom Vice-President Aleksandr Medvedev echoed on November 18, that Russia might abandon the project to lay a gas pipeline, Nord Stream, on the Baltic seabed to Germany. Instead, Putin and Medvedev asserted, Russia could switch... MORE
China Cautious Toward G-20 Summit
According to Chinese Foreign Ministry Spokesperson Qin Gang, Chinese President Hu Jintao will attend the G20 Economic Summit to be held in Washington DC on November 15. At a press conference on November 4, Spokesperson Qin announced that President Hu has accepted President George W.... MORE
Azerbaijan-Georgia Corridor: Growing Transit Volumes Bolster Security
Russia’s invasion of Georgia severely disrupted the operation of the energy transit corridor during August and September, causing revenue losses in the hundreds of millions of dollars to Georgia, Azerbaijan, and the oil and gas companies. Physical damage to the corridor, however, turned out to... MORE
Russia and the World Gold Market
One might ask how far Kremlin-backed Russian companies will go in their quest to take control of valuable gold mining assets not only in Eastern and Central Europe, but in South America and Central Asia as well. One example of their efforts is the recent... MORE
Turkey and EU in Trade Row over Boron
In Turkey's convoluted "long march" toward European Union membership, Ankara has exhibited immense patience during the accession process, which began 21 years ago, when on April 14, 1987, Turkey applied to join the EU, having been an associate member of the European Union and its... MORE
Ukraine Moves To Stabilize Financial System
Ukraine has secured a big loan from the IMF in order to stabilize its finances amid the global crisis. To qualify for the loan, parties in parliament agreed to set aside their differences and pass stabilization laws proposed by President Viktor Yushchenko. Thanks to this,... MORE
The Shadowy Side of Gazprom’s Expanding Central European Gas Hub
OMV, the Austrian oil and gas group, and Russia’s Gazprom, along with the Vienna Stock Exchange and Centrex Europe Energy and Gas AG (CEEGAG) have agreed to cooperate in developing the Central European Gas Hub (CEGH) located in Baumgarten, Austria, Kommersant daily reported on November... MORE