Belarus: Belenergo and Czech-Belarusian Chamber of Commerce and Industry to step up cooperation

The Belarusian national electrical company Belenergo and the Czech-Belarusian Chamber of Commerce and Industry signed a memorandum of understanding in Prague, the website of the Belarusian Energy Ministry reported. The memorandum provides for enabling conditions conducive to the development of foreign economic contacts, establishment, maintenance and development of business ties and contacts between Belenergo’s enterprises…

Belarus: industrial recession over

Industrial recession in Belarus is over, Vice Prime Minister Vladimir Semashko said. “I am happy that we have survived through the crisis. I can see that the recession is over. Today the Industry Ministry is posting a 3% growth. We plan to reach the growth of 11.3% next year”, Vladimir Semashko noted. “The machine-building industry…

Belarus: Belarusian-made equipment absolutely competitive

Belarusian equipment is absolutely competitive, Belarus’ Deputy Prime Minister Vladimir Semashko said. “In terms of the price-quality-maintenance ratio, our equipment is absolutely competitive”, Vladimir Semashko said. He noted that over the past seven years, Belarus had produced agricultural machinery to the tune of $23.7 billion. “Of this amount, $7.9 billion worth of equipment was produced…

Ukraine: full-featured energy market being created

Ukrainian Prime Minister Volodymyr Groysman has said that the full-featured energy market is being created in Ukraine. “The market is competition, including competitive prices for consumers. The creation of the full-featured energy market, growth of own gas production, introduction of energy efficiency and the increase of budget revenue received from state-run companies – all these…

Belarus: ways to introduce IFRS at major state-run enterprises under consideration

In view of recommendations of the International Monetary Fund (IMF) Belarus is considering ways to introduce the International Financial Reporting Standards (IFRS) at major state-run enterprises. The statement was made by Belarusian Deputy Finance Minister Dmitry Kiyko. The law requires a number of Belarusian enterprises to present annual consolidated reports in accordance with the International…

Kazakhstan: huge greenhouse complex built

A huge greenhouse complex of 12 ha has been built in Kazakhstan, KazAgro National Holding reported. The official launch of the complex, the largest in the country, is scheduled for early December. The complex is located in the city of Almaty. The project was worth 6.6 billion tenges and was financed by KazAgro’s subsidiary KazAgroFinance.…

Ukraine: AMC allows Tigipko to buy Universal Bank

The Antimonopoly Committee of Ukraine (AMC) has allowed ex-Deputy Prime Minister for Social Policy Sergiy Tigipko, the founder and major shareholder of TAS Group, to indirectly acquire Universal Bank (Kyiv) through Bailican Limited (Cyprus). Universal Bank was founded in 1994. The largest shareholder of the bank as of the beginning of 2016 was ERB New…

Bulgaria: sunseed harvesting completed

According to Bulgarian Ministry of Agriculture, as of November 17, 760.6 thousand ha of sunflower had been threshed, which was 100% of the plan. 1701 KMT had been threshed with an average yield of 2.24 MT/ha. Harvesting campaign showed better results compared to last year. As of November 17, 14.4 thousand ha of soybean has…

Belarus and Slovakia to cooperate in nuclear energy

Belarus and Slovakia intend to cooperate in power engineering, pharmaceutics, and petrochemical industry. The relevant agreement was reached during the meeting of Prime Minister of Belarus Andrei Kobyakov and Prime Minister of Slovakia Robert Fico on November 25. Cooperation in woodworking, information technologies, agriculture, and tourism also looks promising. Andrei Kobyakov reported that a large…

Azerbaijan to support all North-South corridor members

The Azerbaijani government is ready to assist all participants of the international North-South transport corridor in every way possible, Sahil Babayev, Azerbaijan’s deputy economy minister, said. “Azerbaijan, being a member of such multimodal projects as North-South and West-East transport corridors, sees itself as a regional hub. Logistics and infrastructure development is necessary for development of…

Azerbaijan: railways on priorities until 2019

Addressing the International Rail Business Forum titled “Strategic Partnership 1520: Caspian region”, Head of Azerbaijan Railways CJSC Javid Gurbanov spoke about priorities of the company’s activities. The priority directions of the activity of Azerbaijan Railways CJSC for 2017-2018 includes the development of the North-South transport corridor, renewal of infrastructure from Yalama to Astara in order…