The recently completed merger of Azerbaijan’s Atabank OJSC (AB; B-/Negative/b-) with Caspian Development Bank (CDB) has no immediate impact on Atabank’s ratings, Fitch Ratings said in its report. This reflects Fitch’s base case view, based on public disclosure, that the positive impact from the higher capital ratios of the merged bank is counterbalanced by recent…
The National Commission for Energy, Housing and Utilities Services Regulation (NCER) has issued a natural gas supply license to Naftogaz Ukrainy gas supplying company LLC. The decision was made on July 4. Gaz Ukrainy, the subsidiary of Naftogaz Ukrainy, fully owns the limited liability company. Earlier Naftogaz Ukrainy Commercial Director Yuriy Vitrenko said that Naftogaz…
Kazakh investor Arif Babayev has become the owner of Ukrainian Region-Bank renamed Sky Bank, the bank’s press service has reported. “The Kazakh investor bought universal bank Region-Bank with 26 year experience on the Ukrainian market renaming it Sky Bank and focusing on development of IT solutions,” the bank said on its website. “We are making…
State-owned companies bring UAH 87 billion in losses to the budget, Prime Minister of Ukraine Volodymyr Groysman said at a government meeting. “UAH 87 billion. If we add corruption and inefficiency to this, then we will have hundreds of billions hryvnias that are taken from Ukrainian citizens,” Groysman said. Therefore, he said that the government…
According to the Ag Ministry of Kazakhstan, the country exported 444.2 KMT of grain in May, up by 25.8% YoY. At the same time, flour exports totaled 153.9 KMT, down by 11.3% YoY (173.5 KMT). In 2017, Kazakh flour and grain exports lag behind last year. Kazakhstan shipped abroad 2114.6 KMT of grains for the…
As of July 3, Ukrainian agrarians harvested 1.076 million tons of early grains and pulses throughout the areas of 337 thousand ha, or 4% of the plan. The average yield totaled 3.19 ton/ha, the Ministry of Agrarian Policy and Food of Ukraine declared. In particular, agrarians harvested wheat throughout 74 thousand ha. The production volumes…
Russian airline Pegas Fly is starting to operate flights from Moscow’s Zhukovsky International Airport to Baku from July 27, said a message on the airport’s website. The airline will operate regular passenger Zhukovsky-Baku flights three times per week until October 29. On Thursdays, departure from Moscow to Baku will take place at 10:45 local time…