Russian metals holding Metalloinvest has signed a contract to export over 600,000 tons of rail and shaped billets to Kazakhstan’s Aktobe Rail and Section Works in 2017-2020 from its unit Ural Steel, Metalloinvest said in a statement. In February Metalloinvest signed a 3-year contract to export about 600,000 tons of rail and shaped billets by…
The board of directors of the Russian state-owned oil major Rosneft has approved participation in privatization of a 50.08% government stake in oil company Bashneft, sources familiar with the matter reported. Rosneft said in a separate statement that the board had approved a large deal, and a representative of the company said that the deal’s…
The Ukrainian IT service market by 2020 could expand to $5.7 billion from $2.7 billion in 2015 if the tax burden for the sector grows no more than 1% a year, according to a study of PricewaterhouseCoopers (PwC) conducted under order of the European Business Association (EBA). According to the study, the results could be…
On October 4, the National Mercantile Exchange CJSC (NAMEX) held the regular stock exchange trading within frames of public grain purchasing interventions in the regional trading platforms of Russia, and purchased 58.725 thousand tons of grains (from the proposed volume of 62.1 thousand tons) valued at 560.473 million RUR, the press-service of NAMEX declared. In…
Naftogaz Ukrainy projects its net profit for 2016 will amount to 18.355 billion UAH against 34.053 billion UAH of net loss a year earlier, according to a company report for 2015. The company estimates its profit in the second half of 2016 at 897 million UAH. Naftogaz expects sales income in 2016 to come to…
Russia’s grain harvest can exceed an earlier forecast of 116 million tons in 2016, Agriculture Minister Alexander Tkachyov announced. “Weather conditions allow me to forecast that we will harvest up to 116 million tons, maybe more”, Tkachyov said. Grain exports have been below the last year’s level, the minister said. “I think that we will…
Russia’s gross domestic product (GDP) may fall by 0.6% this year but go up by 0.5-0.8% next year meaning that recession will be over soon, Alexei Kudrin, a former finance minister and the current head of the Center for Strategic Research, said. The Economic Development Ministry expects the economy to contract 0.6% in 2016 and…