Prime Minister Dmitry Medvedev has said he expects the growth of the Russian economy at the level the EU economy will grow this year. “The majority of macroeconomic and social indicators are stable or have a positive dynamic,” he told the State Duma on Tuesday. “This year, we expect a positive growth of GDP at the same pace the EU’s economy is growing,” Interfax quoted him as saying.
Russia sold $15.74 billion worth of weaponry overseas, Prime Minister Dmitry Medvedev said Tuesday. Defense industry production increased 13.5 percent last year, he told MPs in the State Duma. The system of state military orders was modernized, he said, adding that its volume increased by 1.6 times. The Russian armed forces have not received so many weapons and equipment for 25 years, he said.
Russia’s Gazprom approved Tuesday the purchase from its Berlin-based subsidiary of 50 percent of the shares of South Stream Transport, RIA Novosti reported. According to the resolution approved by the Gazprom Board of Directors, Gazprom Germania will sell 205,990 shares of Dutch-based South Stream Transport to the Russian energy giant. South Stream Transport is an international joint venture of Gazprom, Italy’s ENI, France’s EDF and Germany’s Wintershall Holding. The company is in charge of building the undersea portion of the South Stream gas pipeline.
The US has offered Ukraine a new $50-million aid package to help with economic and political reform, the White House said on Tuesday, Reuters reported. The announcement came during a visit to Kiev by Vice-President Joe Biden. Washington also offered an additional $8 million in non-lethal military aid, including radios and vehicles, Biden’s staff said in Kiev.
Russia’s Gazprom and Turkey will discuss plans to increase the annual capacity of the Blue Stream gas pipeline from 16 billion cubic meters to 19 billion cubic meters, Itar-Tass reported. The task would not require the construction of any additional pipelines, Gazprom said, as it could technically increase the throughput capacity of the pipeline’s underwater section, which runs on the bottom of the Black Sea, by 20 percent to more than 19 billion cubic meters. Turkey, the second-biggest importer of Russian gas (after Germany), received 26.6 billion cubic meters of gas in 2013 overland and via Blue Stream.
US car giant General Motors Corp plans to invest $12 billion in China from 2014 to 2017 and build more plants next year, Reuters reported. The company expects its China sales to expand 8-10 percent this year. “We are investing wisely and accelerating our vehicle development and manufacturing to keep pace with market demand,” said Matt Tsien, president of GM China. GM plans to build five more plants in China next year in efforts to ramp up manufacturing capacity there by 65 percent by 2020 as it competes with rivals in the world’s largest auto market.
The Ford Sollers plant, a joint venture of Ford Motor Company and Russia’s Sollers in Vsevolozhsk near St. Petersburg, has stopped its assembly line from April 21 through to June 8, ITAR-TASS said. When the assembly line resumes work, the plant will be working a one-shift regime, having fired about 700 workers. The company said the move will help it adjust production to falling demand in the Russian market. Ford Sollers still plans to continue working on the modernized Ford Focus and Ford Mondeo due out in 2015.