Russia’s loss from failed satellite launches estimated at $550mlnMarch 12, 2014 - 15:40 AMT PanARMENIAN.Net - Over the past four years the Russian government has lost nearly $550 million from uninsured failed satellite launches, the Vedomosti newspaper said Wednesday, March 12, citing an aerospace industry audit. A letter from the Russian Association of Aviation and Space Insurers responding to a Kremlin audit said that five of the six failures among 100 launches in the past four years were of uninsured payloads, RIA Novosti reports. Russia’s space agency is expected to submit a draft law on compulsory insurance in the space industry by the end of this year, according to the Russian government’s website. Deputy Prime Minister Dmitry Rogozin, who oversees the space and defense industries, said last week that Russia must focus on profits in the space sector to ensure a return on state investments. The country, long a world leader in rocket construction, is a major supplier of launch vehicles for foreign payloads, but has failed to become a market contender in the lucrative satellite service and manufacturing industry. A 2013 report by the Washington-based Satellite Industry Association said that in 2012 just 3.4 percent of the $189.5 billion in industry revenues came from launch services. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. |