Oil prices soar, Asian shares fallFebruary 22, 2011 - 10:19 AMT PanARMENIAN.Net - Asian shares fell sharply Feb 22, battered by ongoing unrest in the Arab world, an earthquake in New Zealand and a downgrade of Japan's credit rating outlook. Oil prices, meanwhile, soared to near $93 a barrel as Libyan leader Moammar Gadhafi struggled to keep his grip on power in the OPEC nation amid violent protests. Markets were shaken by the unrest in Libya and the potential for the instability to spread to other member nations of the Organization of Petroleum Exporting Countries, especially Saudi Arabia and Kuwait. In currency markets, the euro was down at $1.3580 from $1.3645, AP reports.   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 |  Latest news U.S. welcomes Armenia, Azerbaijan’s border delimitation announcement  Blinken said it is an important step towards concluding a durable and dignified peace agreement.Residents Of border villages protest as Armenia, Azerbaijan agree on delimitation Residents of several Armenian communities in the northeastern Tavush province began protests late on Friday.European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. |
