In his yearly Address on January 31, 2017, the President of Kazakhstan, Nursultan Nazarbayev, announces that the country has to shift to a new economic growth model – to the third modernization. The President notes that the new model helps the country to improve its global competitiveness. The President also pointed out five main priorities that will allow implementing the new modernization model.
According to the China Geographical Survey, China has successfully mined so-called “flammable ice,” officially known as methane hydrates, in the South China Sea, which is a remarkable event since this is the first case of successful methane extraction from hydrates. 16 thousand cubic meters of gas is being extracted daily from the Shenhu area of the sea (Paraskova, 2017) from 203-277 meter deep wells drilled at a depth of 1 266 meters.
Solar power prices in India hit the record low, becoming cheaper than conventional power generation prices. During the auction in Rajasthan, India, Indian power companies, Phelan Energy and Avaada Power, have made an offer to set a price of solar energy to 2.62 rupees per kWh which is a 40% decrease compared to the bid of 4.34 rupees per kWh in 2016. This number is 18% lower than the price of energy generated by coal-fired power plants.
The Trans-Pacific Partnership (TPP) is one of the Obama Administration’s ambitious economic initiatives aimed to form new guidelines to govern trade and investment opportunities among the member countries, namely, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam. These countries present more than 40% of the world GDP.
On May 19, 2017, the 12th presidential election was held in Iran. The Interior Minister of Iran, Abdolreza Rahmani Fazli, announced that 41,220,131 registered voters (73,07%) took part in the elections and Hasan Rouhani was elected as the President of the country for the second time with 57,13% (23,549,616) of total votes. Iran has a unique structure in its political system.
During the last couple of decades, Kazakhstan has been taking various measures intending to increase the labor productivity and these measures are rather successful in many terms. According to the latest available statistics of the Committee on Statistics of the Ministry of National Economy Kazakhstan, the overall labor productivity in the economy of the country increased by 210% between 2000-2016.
The Global market research company Euromonitor International reported that consumer card payments and mobile-commerce will see 6.6% and 23% average annual growth rates, in 2016-2021 respectively, while global cash payments will be 1.3%. This data shows that cashless payments in future, quite possibly, will supersede cash payments. However, it is important to note that, today, most transactions are made by cash.
Researchers from the UK’s National Oceanography Centre have discovered rare minerals in the Atlantic Ocean about 500 kilometers away from the Canary Islands at Tropic Seamount. Tropic Seamount is a 3,000 meter tall mountain which is located 1,000 meters below the surface of the water. The main element discovered in the samples collected at the site is tellurium.
The National management holding KazAgro (Kazagro) was founded in accordance with the Decree of President of Kazakhstan, Nursultan Nazarbayev “On some issues of agribusiness complex development” on 11 December 2006. The Kazagro was created as the main actor of the government’s policy in the agro-industrial complex.
Since the presidential elections have become an integral part of the Iranian political landscape there was no doubt that there will be a tight race between the candidates contending for the presidency.