Economics

According to a report from the World Petroleum Council, between now and 2030, Russia’s share of the oil and gas extracted from the Arctic shelf will be 55 percent, followed by Norway, Canada and the USA. Between now and 2030, Russia will account for 55 percent of all oil and …

What we are witnessing in Greece and beyond, in Europe, is an absurd, but not entirely unexpected spectacle. During the past couple of decades since the fall of the Berlin Wall and the dissolution of the Soviet Union, there has never been such a powerful agglomeration of political …

It is difficult to predict how the natural gas discoveries in Eastern Mediterranean will impact an already complex regional inter-relation system. Signs of mounting tension around the offshore potential resources are not new. If this tension occurs in the current early phase of exploring and extraction, it should …

The St. Petersburg International Economic Forum was attended by more than 5,000 participants, including high-ranking officials, leading businessmen, companies’ chief executives and economic pundits world over who were involved in a three day lively and sometimes heated debate on how to handle global economy and, specifically, on how to business with Russia. The annual St. Petersburg Economic …

Islamic finance will help Russian companies make up for their credit shortage, which was in large part caused by the cooling of relations between Russia and the West. Russian banks are already showing interest in this alternative form of credit. Islamic finance could help Russian companies hit by …

ST PETERSBURG — Igor Sechin, the head of Russia’s top oil producer Rosneft, said on Wednesday the United States is calling the shots on global oil markets, while the influence of OPEC has shrunk. The United States emerged with renewed vigor as a top producer thanks to its shale boom. By refusing to curb its output to prop up oil prices, OPEC …

Last year, Russia’s flagship economic forum in St. Petersburg, traditionally held in June, was moved forward to May to make room for a meeting of the G8 group of industrial nations in the Russian resort town of Sochi. The meeting in the host city of the 2014 Winter …

The number of companies that applied to attend Russia’s St. Petersburg International Economic Forum 2015 scheduled to take place later in June is growing and the event’s geography is expanding, St. Petersburg governor Georgy Poltavchenko said. ST.PETERSBURG (Sputnik) — The St. Petersburg International Economic Forum has been held annually …

By Velbona Zenelli The economies of the Western Balkan countries — Albania, Bosnia & Herzegovina, Republic of Macedonia, Montenegro, Kosovo and Serbia — still lag behind the rest of Europe. The regional average income levels fluctuate from an annual level of $5,300, to as low as only 31% …