Latest Articles about Economics
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
Belarus Facing Recession
Since the mid-1990s, Belarus has frequently cited its economic successes: high growth rates (over 10 percent in the first half of 2008), impressive increases in industrial output, and an economy that has managed to thrive even while closely controlled by the state. President Alyaksandr Lukashenka... MORE
Russia Dominates Tajikistan’s Energy Sector
In the new "Great Game" between the West and Russia over the vast energy reserves of Central Asia, Tajikistan has always stood apart, owing to its geographical isolation, degraded economy, and relative lack of hydrocarbon resources. Now the poorest and most isolated of the "Stans"... MORE
Austria’s OMV To Share Key Terminal With Gazprom
On November 5 Austria’s OMV energy company advanced toward a final agreement with Russia’s Gazprom to share the Baumgarten gas terminal near Vienna. That terminal, however, is the designated end point and regional distribution center for the Western-backed Nabucco gas transport project. Sharing Baumgarten with... MORE
European Commission 2008 Progress Report on Turkey Details AKP Shortcomings
On November 5 the European Commission released its 2008 progress report about Turkey. The report examines political and economic criteria as well as Turkey’s ability to assume the obligations of membership in terms of state and social structure, that is, intellectual property rights, free movement... MORE
Sino-Kazakh Relations: A Nascent Strategic Partnership
While the Chinese authorities make a point of honoring the establishment of cordial relations with all five Central Asian states, Kazakhstan enjoys a unique status. Since 2005 the China-Kazakhstan partnership has been termed a “strategic” one, the highest of diplomatic epithets, confirming that Astana is... MORE