World Bulletin / News Desk
Russian President Vladimir Putin signed a decree on Tuesday to protect the interests of strategic companies operating abroad, requiring them to obtain government permission to disclose information to foreign regulators, change contracts and sell property abroad.
The decree follows a warning by state-controlled gas export monopoly Gazprom to the European Commission that a European Union investigation of Gazprom's business in Europe touched the interests of a strategic Russian company.
"The decree establishes the obligation of a federal executive body to refuse permission to conduct the aforementioned activities if they are capable of damaging the economic interests of the Russian Federation," said the text of the decree, distributed by the Kremlin.
The decree covers foreign subsidiaries of Russian companies defined by the government as strategic.
Putin on Sunday ruled out a trade war over the European Commission's anti-trust investigation, which focused on Gazprom's policy of linking contract gas prices to oil prices, suspicions that Gazprom was hindering the free flow of gas in Europe and preventing supply diversification.
The EU announcement marks the formal launch of an investigation that began with raids of Gazprom subsidiaries in Europe a year ago.
Since then, Gazprom has made substantial price concessions in its oil-linked contracts to most of its major European customers.
After U.S. Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates, European stock markets fall.
Italian company Enel will invest 18 billion euro for renewable energy sources in Africa.
Azerbaijani president said in a statement that Southern Gas Corridor project will supply neighboring and European countries for a 100 years
Oil prices rose above $60 due to Iran's call for oil production cut
Economic growth in the Euro-Zone is not at desired levels.
Director and Global Head of Islamic Finance at Standard & Poor's says that growing market for sukuk and new players mark 'significant interest' in Islamic finance.
The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the AIIB.
Experts state that the crisis poses risks to the region, which is significant for oil production and exports in the world.
Federal Reserve removes word 'patient;' interest rate increase expected within months. Yellen says timing of rate rise 'not decided,' but will come anytime after April; holds current rates at 0 to 0.25 pct.
Many emerging-market currencies have fallen against the dollar in recent weeks
Anticipated Federal Reserve interest rate hikes making dollar strong against most emerging market currencies, Deputy Prime Minister Ali Babacan says.
European Statistical Agency says slight decline fuelled by drop in production of durable consumer goods.
EU will use all its foreign policy instruments to establish strategic energy partnerships with producing and transit countries.
Dollar strength and waning investor confidence are driving the lira lower
Greece has already received two bailouts totalling 240 billion euros but fellow euro zone member Ireland said last week that it would have to negotiate a third programme.
The Ukraine crisis has tested the loyalties of Bulgaria, a Balkan country with historical ties to Moscow and heavily dependent on Russian energy supplies.