Armenian Commission to Regulate Public Services has approved increase in the investment program of ArmRosgasprom closed-type joint stock company (JSC), the monopolist of gas deliveries and distribution at the Armenian local market, by $2,283,000 up to $19,048,000 in 2013.
$1,318,000 will be spent for upgrade of the Abovian underground gas storage, $269,000 for reconstruction of the gas transportation system, $301,000 for subscription of new customers and $393,000 for other costs of the gas distribution network.
ArmRosgasprom was established in 1997, its shareholders are Gasprom and the Armenian Ministry of Energy and Natural Resources. On December 2, 2013 Russian and Armenian Presidents have held talks and signed several documents in the gas industry, which, particularly, envisage increase in Gasprom share in ArmRosgasprom up to 100%.—0—
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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