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Wintershall to join Russia-led Nord Stream-2 gas pipeline
Wintershall said it plans to join the new gas pipeline project led by Russia’s Gazprom that’ll deliver up to 55 billion cubic meters of gas annually to Germany via the Baltic Sea.

Business snaps

  • Honda’s 3-month net profit jumps 20% to $1.5bn

    Honda said on Friday that net profit in April-June jumped nearly 20 percent. The company cited strong sales in North America and a weak yen that helped offset the impact of an exploding air-bag crisis, AFP reported. The bottom-line profit came to 186 billion yen ($1.5 billion) for the three months, up from 155.6 billion yen a year earlier. Sales jumped 15.5 percent to 3.7 trillion yen.

  • EC ‘allocated €155mn’ to support agricultural sector over Russia’s food embargo

    Financial support to farmers in the EU due to Russia’s food embargo has amounted to €155 million, RIA Novosti quoted a representative of the European Commission as saying on Friday. During one year, under the European financial support 770,000 units of agricultural production were removed from the market, including for charitable distribution. The previous day, the EC announced extension of measures to support the EU agricultural sector.

  • Russia nominates Norilsk Nickel VP for AIIB president

    Russia has nominated the vice-president of Norilsk Nickel, Andrey Bugrov, for president of the Asian Infrastructure Investment Bank (AIIB), RIA Novosti reported. Russian Finance Minister Anton Siluanov sent the letter on nomination to China’s Finance Ministry on Thursday. Russia, China and India have biggest voting powers on the bank’s board.

  • Royal Dutch Shell to expand cooperation with Gazprom despite sanctions

    Royal Dutch Shell intends to expand its strategic cooperation with Russia’s Gazprom in the future, TASS quoted Shell CEO Ben van Bearden as saying. The Anglo-Dutch company is currently in dialogue with authorities in Britain and the Netherlands to determine its activities, taking into account sanctions introduced against Russia, Van Bearden said. Speaking about the possible work of Western companies in Iran, he said that it could be attractive from the point of view of geology but not attractive from the position “of running a business.”

  • US Fed on course to increase interest rates this year, options still open

    The US Federal Reserve remains on course to increase interest rates this year, the Financial Times said. However, the Fed left its options open as to when to pull the trigger, awaiting more evidence on the strength of the economic recovery. After the latest policy meeting, the Fed gave a stronger endorsement of progress in the job market, saying it was seeing “solid” gains.

  • Mazda recalls 184 Russian-made cars

    Mazda will recall 184 Mazda 6 and CX-5 cars which were made in Russia over problems with windshield and other windows glass, reported. The cars were made in Vladivostok and sold between December 2013 and April 2015.

  • Greece makes no request to ECB for further increase in emergency liquidity assistance

    Greece did not request a further increase in emergency liquidity assistance from the European Central Bank on Wednesday, Reuters reported. This is seen as a sign Greek banks are not burning through cash as fast as previously feared, according to sources. The ECB increased ELA by €900 million in each of the past two weeks, and the bank kept its cap at around €91 billion on Wednesday after the Bank of Greece did not request another increase, indicating that banks are maintaining a cash buffer.


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    Russian sanctions deepen
    The US has imposed further sanctions against Russia over the events in eastern Ukraine and Crimea. Eleven individuals and 15 companies have been added to the sanctions list, and several of those targeted reportedly have ties to President Vladimir...
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RT asks

What will happen to oil prices when Iran re-enters the market?

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