Istanbul - When Turkey’s government increases the minimum wage by around 30%in January it will make good on an election promise to millions of workers currently struggling to make ends meet. But it also risks setting itself on a collision course with domestic employers and international investors
Moscow - Russia hopes that financing and technology from Arab states and other countries will help its firms weather the fallout from Western sanctions imposed over the Ukraine crisis, Russia’s Minister of Natural Resources, Sergei Donskoi, said. U.S. and EU sanctions have hit Russian individuals and companies
New York -The United Nations aviation agency said there has been progress in its talks with Ukraine and Russia toward allowing air traffic to resume in international airspace over the Black Sea and the Sea of Azov, and that work was continuing to find a solution
Moscow - Russian Prime Minister Dmitry Medvedev has given an orderto the transportation ministry to consider retaliatory restrictive measures against Ukraine for banning Russian flights, the government spokeswoman Natalia Timakova said on Monday
Baku - The Azerbaijan Caspian Shipping CJSC will increase the number of the vessels engaged in cargo transportations in the Black Sea to four.
Trieste - Shipbuilder Vard Holdings has won a 60 million-Norwegian krone ($7.3 million) contract to construct a coastal fishing vessel for Norway-based Breivik. The vessel is slated for delivery from Vard Braila in Romania in the third quarter of next year, securing work for the yard in all stages of production
Trieste - At the ceremonial cutting of the first sheet metal for the “Silver Muse”at Sestri Ponente, Fincantieri’s C.E.O. Giuseppe Bono mentioned that the workload acquired by Fincantieri over the last few months will make it necessary to subcontract some work out to shipyards outside of Italy
Gallipoli - The tanker “STI Pimlico” was severely damaged in a collision with the “Celestyal Crystal” on June 27, 2015. The cruise ship collided with the product tanker at 01.25 a.m. at the northern entrance of Dardanelles Strait in front of Gallipoli lighthouse passing the strait in North-South direction
Genoa - The two shareholders of Lukerg Renew, the joint venture between ERG Renew and Lukoil created in 2011 to invest in the wind-power sector in Bulgaria and Romania, have decided to dissolve the joint venture and consequently divide its assets, “at the end of three years of strong growth.”
Istanbul - Nielsen (Maersk Black Sea Cluster): “Positive results in the first quarter of the year thanks to low fuel prices.”
Istanbul - Turkey has unveiled ambitious plans to designand build a huge advanced warship, capable of carrying 1,000 personnel. A Turkish company and the government signed an agreement to build the 231-meter-long vessel on the sidelines of the IDEF 2015 defense-sector fair on Thursday in Istanbul
Milan - Ceva Logistics has reached agreement with Petrolifera Italo Rumena a subsidiary of Gruppo PIR, for the sale of Spedizioni Internazionali Trasporti Terrestri Aerei e Marittimi S.r.l. (Sittam), an international groupage business based in Cornaredo (Milan).
Riga - Bulgaria is about to open a licensing round for oil and gas in the Black Sea as it seeks to turn itself into an energy hub and redraw the European pipeline map to curb the country’s dependence on Russia.
Baku - PC Maritime and its Estonian trading partner Marine Technics won a contract to supply Navmaster ECDIS system to 28 Azerbaijan Caspian Shipping Company (Acsc) vessels
Istanbul - The Liberian Registryhas established a regional office in Istanbul, Turkey, as part of the continued expansion of its global presence in major centres of international shipping and trade. Erhan Esinduy (pictured)has been appointed Regional Representative.
Varna - The business plan of Port Varna EAD for 2015 envisages investments of around 3,3 million Euros, according to CEO Petar Seferov. Seferov, informs that the money will be spent on new equipment and facilities, depending on the anticipated cargo
Sofia - NATO’s Black Sea members Bulgaria, Romania and Turkey joined four other alliance states in a multinational naval exercise on Tuesday just across the water from the Crimean Peninsula annexed by Russia last year.
Sofia - Bulgaria wants the European Commission to revive plans for the Nabucco pipeline that would pump gas from the Caspian Sea, after a Russian project seen as a rival was scrapped, Prime Minister Boiko Borisov said on Wednesday.
Moscow - Russia is ready to consider providing Ukraine with a discount for gas supplies within their existing contract starting from the second quarter, Russian Energy Minister Alexander Novak told on Tuesday. Russia and Ukraine have been engaged in talks
Kiev - Ukraine’s economy is starting to disintegrate, creating a risk of hundreds of thousands of immigrants flowing into Poland, Polish Deputy Prime Minister Janusz Piechocinski said. Piechocinski is leader of the centre-right junior coalition partner PSL
