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From Frozen Ties to Open Skies: Turkish Airlines to Connect Armenia and Türkiye

From Frozen Ties to Open Skies: Turkish Airlines to Connect Armenia and Türkiye

“Welcome to Armenia,” the pilot’s voice came over the tannoy as the Turkish Atlasjet flight touched down in Yerevan some time in 2011. “The temperature outsider is…” A normal announcement on any flight. This one, however, came in Turkish before being repeated in English. In Armenia. That was 14 years ago now. Despite the lack of diplomatic relations between the two countries, the flights have existed for years albeit with some interruptions and later operated by Pegasus and Flyone.
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Ethiopian dam upsets Egypt, whilst China plays a difficult game

Ethiopian dam upsets Egypt, whilst China plays a difficult game

Ethiopia last week opened its mega dam on the River Nile, the Grand Ethiopian Renaissance Dam (GERD). The launch has sparked a tense diplomatic battle between Ethiopia and Egypt, with Cairo denouncing it as “an unlawful unilateral act” and protesting to the United Nations Security Council. During an inauguration ceremony on Tuesday (9 September) Ethiopian Prime Minister Abiy Ahmed described the US$5 billion Grand Ethiopian Renaissance Dam as a “symbol of Ethiopian unity and national achievement". Several regional leaders, including Kenyan President William Ruto and Somalia’s President Hassan Sheikh Mohamud, attended the event. Egypt, whose life has historically centred around the River Nile, believes the dam will threaten its water supply and cause shortages. Following the inauguration, Cairo warned that it reserved the right to take all measures provided for under international law and the UN Charter to “defend the existential interests of its people”. Sudan, has also raised concerns about dam safety and the risk of uncoordinated water releases.

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Saudi Arabia transfers 4% of Aramco shares to sovereign wealth fund

Saudi Arabia transfers 4% of Aramco shares to sovereign wealth fund

Saudi Arabia's Crown Prince Mohammed bin Salman announced the transfer of 4 percent of the Saudi oil giant Aramco’s, shares to the Public Investment Fund, the Saudi sovereign wealth fund. The transferred share are valued up to $80 billion. The move is another step by the Kingdom to diversify the economy and move it away from dependency on oil. 
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Brussels provides Ukraine with 1.2 billion euros financial assistance package

Brussels provides Ukraine with 1.2 billion euros financial assistance package

The European Commission proposes to support Ukraine with 1.2 billion euros of new financial assistance package made of both emergency loans and grants. The country is experiencing a financial shortage and borrowing is becoming more complex and expensive now that Russia uses threatening language and has deployed military troops and heavy weapons close to Ukraine's border.
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Turkish exports leap to unprecedented heights despite other economic woes

Turkish exports leap to unprecedented heights despite other economic woes

Exports to the European Union, were almost half of Turkey's exports, and surged 33% year-over-year to $93.1 billion, enabling Turkey to post a surplus of around $7.7 billion in trade with the bloc. Germany remained the top market, having received $19.3 billion worth of Turkish products throughout the year, followed by the United States with $14.7 billion and the United Kingdom with $13.7 billion. Sales to all the three markets marked the highest annual figures ever.
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European gas prices climb after a postponement of the opening of Nord Stream 2

European gas prices climb after a postponement of the opening of Nord Stream 2

Gas prices increased on Tuesday (16 November) to the highest level in three weeks in the European Union. This is due to Germany's temporary shutdown of the certification process for the new gas pipeline Nord Stream 2. In addition, there is an outage at a major gas field in Norway, which is expected to last until Friday.