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1Oil, the lifeblood of many countries that produce and sell it, appears to be rapidly turning into an ever-cheaper economic curse.While the price has been declining for months, forecasts have always been hedged with the assumption that oil would eventually stabilize or at least not stay low for long. But new anxieties about frailties in China, the world’s most voracious consumer of energy, have raised fears that the price of oil, now 30 percent lower than it was just a few months ago, could remain depressed far longer than even the most pessimistic projections, and do even deeper damage to oil exporters. [New York Times]
2Russian President Vladimir Putin will meet with his Egyptian counterpart Abdel Fatah Al-Sisi along with King Abdullah II of Jordan and the crown prince of Abu Dhabi, Sheikh Mohammed Al-Nahyan, in a series of talks starting on Tuesday in Moscow. Putin’s meeting with King Abdullah will pay special attention to the implementation of joint projects, including the construction of the first Jordanian nuclear power plant, according to a statement released by the Kremlin on Monday. Talks with Crown Prince Al-Nahyan, also the deputy supreme commander of the armed forces of the United Arab Emirates, will focus on enhancing security and stability in the Middle East and North Africa, in addition to bilateral cooperation in energy and investment.
3New gas field discovered in Turkmenistan. A powerful commercial natural gas inflow was obtained at the ‘Bagly-1’ area in the Karakum Desert in Turkmenistan’s Mary Province, the Turkmen newspaper ‘Neutral Turkmenistan’ said. According to the newspaper this happened after the first exploration well at the area reached a depth of 4,690 meters. The daily hydrocarbon output at the new field exceeds one and a half million cubic meters. The newspaper said the new field’s prospect can also be judged from its being located a few dozen kilometers away from the gigantic Galkynysh field, which is famous worldwide for its explored and proven natural gas reserves.
4Azerbaijan`s investment potential will be discussed as part of “Milan Expo-2015″ international exhibition on Tuesday.”Invest in Azerbaijan: Business environment and opportunities” event will be co-organized by the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and Azerbaijan-Italy Trade Institute (ITAZERCOM).The agenda includes discussions on prospects for cooperation between the two countries in the fields of information and communication technologies, agriculture, chemistry, mechanics, environment, industry and construction.The event will bring together representatives of AZPROMO, Azerbaijan Investment Company, Sumgait Chemical Industrial Park, and Clean City company.
5Kazakhstan’s Air Defence Forces have received five air defence missile systems from Russia according to the press-office of Kazakhstan’s Ministry of Defense.“These S300PS air defence missile systems will be tested during live fire exercise and transferred to military bases of Kazakhstan’s Air Defence Forces to be in operation readiness covering the airspace of the Republic of Kazakhstan,” the Commander of Kazakhstan’s AA Troops Nurzhan Mukanov said. The S300PS AA missile systems were given to Kazakhstan free of charge.
6Preparation for the official visit of Turkmen President Gurbanguly Berdimuhammadov to Afghanistan, scheduled for August 27 was discussed at the last meeting of the Cabinet of Ministers in Ashgabat, the Turkmen government reported. The president of Turkmenistan said that the country’s stance is exclusively peaceful settlement of the situation in Afghanistan by taking concrete steps to restore the Afghan economy and social infrastructure, according to the message.All this is proved by large-scale projects initiated by the Turkmen side, such as the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline and the construction of Turkmenistan-Afghanistan-Tajikistan railway, which started in 2013.
7Azerbaijan has expanded the investment in the social and economic spheres of the country in January to July, 2015.The investments in the mentioned spheres increased by 3.5 percent as compared with the same period of the past year, according to the report of the Azerbaijan State Statistical Committee.The total amount of investments amounted to 9.37 billion manats (over $8.94 billion), including 58.6 percent of internal investments.The government allocated the largest investments in the field of the construction and installation works for this period, amounting to 74.7 percent of the total volume of investments.
8Ahead of a high-level technical delegation from Iran, the Ministry of Commerce on Monday explored various avenues to enhance bilateral trade to $5 billion in the next five years after lifting of international sanctions against Iran. A delegation from Iran will visit Islamabad on August 25-26 to revive the trade links. Pakistan has a narrow export basket to Iran because 63 per cent of exports comprised of rice alone. Pakistan’s exports to Iran fell to a low level of $43 million in 2014 from $182m in 2010. While Iranian imports fell to $186m in 2014 from $884m in 2010.
9Duda on Top of Russian Threat. Poland sees Russia as a pre-eminent threat. This has been the essence of speeches made by Andrzej Duda, the newly appointed President who has called for additional security guarantees from NATO and has plans to create an anti-Russian bloc within the organization alongside other Eastern European countries. Given Duda’s attitude, it would seem that Russian–Polish relations could deteriorate even further, while tensions in the Baltic–Black Sea Region as a whole will increase sharply. Vadim Trukhachev for RIAC.
10The first lady of Azerbaijan, ISESCO Goodwill Ambassador Mehriban Aliyeva is a very dynamic person with great talents and open-mindedness, Director General of the Islamic Educational, Scientific and Cultural Organization (ISESCO) Dr. Abdulaziz Othman Altwaijri said in an interview with Trend news agency.“She has always been an advocate of dialogue and positive interaction between cultures,” he said.The ISESCO director general went on to add that Mehriban Aliyeva’s support to the World Forum on Intercultural Dialogue is a strong factor of its success in achieving its noble objectives.