International Court of Arbitration
TOBB Chair Rifat Hisarcıklıoğlu (L), Turkish Trade Minister Ruhsar Pekcan (C) and Alexis Mourre, the president of ICC International Court of Arbitration, chat during a meeting in Istanbul on Feb. 15. (İhlas News Agency)
Iran is expected to pay $1.9 billion as compensation to Turkey in line with a decision made by the International Court of Arbitration, Iran's Deputy Petroleum Minister Hamid Reza Araqi said on Jan. 24.
Araqi said the two countries also agreed on a 13.3 percent discount on the prices of gas delivered from Iran to Turkey, according to semi-official Iranian Students News Agency.
The law proposed by the Bulgarian government on Tuesday, was adopted on a first reading with the support of 132 out of 140 lawmakers on Wednesday.
It allows the state electric company NEC to receive state aid in the form of an interest free loan and to use it to pay off its debts to Russia's state nuclear company Atomstroyexport.
Canada's Banker's Petroleum has announced the sale of oil exploration and production rights to affiliates of China's Geo-Jade Petroleum for a price of $442.34 million.
The Canadian company announced the news in a press release on Sunday, adding that the Chinese company is going to pay $1.69 per share. The board of directors of Bankers approved the deal unanimously.