Russia approves extra $50mln in subsidies for Sochi OlympicsDecember 25, 2013 - 16:01 AMT PanARMENIAN.Net - With less than six weeks to go until the start of the Winter Olympics in Sochi, the Russian cabinet approved almost $50 million in extra subsidies for the Games' local organizing committee on Wednesday, Dec 25, according to RIA Novosti. No reason was given for the extra 1.6 billion ruble injection, which will be put towards the estimated $7 billion cost of hosting the Olympics themselves, rather than the vast infrastructure costs that have taken the Games’ total costs to around $50 billion. Total government subsidies for the organizing committee now stand at 13.85 billion rubles ($420 million), although the organizing committee also draws revenue from sponsorship as well as contributions from state-owned companies. The Olympics will run from February 7 through 23. Related links: Top stories Armenian gymnast, Olympic bronze medalist Artur Davtyan has reached the finals of the World Cup. Gor Manvelyan has denied reports alleging that he has expressed a desire to one day play for the French national team. Roma midfielder Henrikh Mkhitaryan is not considering FC Spartak Moscow as his next haven, according to fresh reports. 10 Armenian lifters will compete in the 2021 World Championships scheduled to be held from 7 to 17 December in Tashkent. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. India wants Armenia’s proposals on use of Chabahar port India is expecting proposals from Armenia regarding the use of Chabahar port in Iran, Indian ambassador says. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. |