Oil process rise ahead of ‘fiscal cliff’ talksDecember 28, 2012 - 11:18 AMT PanARMENIAN.Net - The price of crude rose Friday, Dec 28, following stock markets in Asia higher hours ahead of a last-ditch effort in Washington for political leaders to strike a budget deal before the year-end deadline, The Associated Press reports. Benchmark crude for February delivery rose 40 cents midday Bangkok time to $91.27 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell Thursday following a reported drop in U.S. consumer confidence and growing pessimism that President Barack Obama and Republican lawmakers will reach a compromise on ways to avoid the so-called fiscal cliff — hundreds of billions of dollars in government spending cuts and tax increases that take effect automatically in 2013 unless lawmakers act. Hopes that a compromise might be reached were raised after Obama, who cut his Hawaii vacation short, invited congressional leaders to the White House for talks Friday. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |