Azerbaijan: no need to rush in privatizing large enterprises

Privatization of Azerbaijan’s large state enterprises, including state oil company SOCAR, requires time and such issues must not be hurried, Rafig Jalilov, deputy chairman of Azerbaijan’s State Committee on Property Issues, said. “It is needed to be consistent in such issues, since the privatization of large enterprises touches the issues of Azerbaijan’s economic independence”, Jalilov…

Azerbaijan and Iran to launch new passenger train

A passenger train will be launched between Azerbaijan’s Nakhchivan and Iran’s Mashhad before late November, Javid Gurbanov, head of Azerbaijan Railways CJSC, reported. Gurbanov said the train would start running either on November 27 or November 30. The Nakhchivan-Julfa-Tabriz-Tehran-Mashhad passenger train will run twice a week. Renewed cars will be used for the trips. (Trend/Business…

Ukraine: Astarta steps up soybean product exports

Astarta exported 115 KMT of soybean crushing products in January-September that is almost 81% of the segment’s sales, the company’s press service reports. Revenues in the soybean crushing segment reached 53 million euro, or 25% of Astarta’s consolidated revenue, up by 36% YoY. In January-September Astarta sold 28 KMT of soybean oil, up by 42%…

Belarus: AID-Venture venture funding program launched

A $2.5 million venture funding program – AID-Venture – has been launched in Belarus, Bel.biz Group reported. The consortium of partners consisting of several companies has won the tender for venture capital ecosystem development in Belarus. Aleinikov & Partners together with a group of companies Bel.biz, venture fund 500 Startups and international educational program for…

Ukraine to join BEPS action plan in early 2017

Ukraine from January 1, 2017 will become an official member of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) led by the Organization for Economic Cooperation and Development (OECD). Ukraine’s Finance Ministry reported that Minister Oleksandr Danyliuk on November 22, handed a letter to OECD Secretary-General Angel Gurria. This is the final phase…

Ukraine: Ukravtodor to build new road to Hungary

The State Agency of Automobile Roads of Ukraine (Ukravtodor) intends to build a new road, which will connect the M-06 Kyiv-Chop highway with the Hungarian road M-3 Budapest-Nyiregyhaza. According to the press service of the agency, the corresponding decision was made following a joint review of infrastructure on the Ukrainian-Hungarian border. “This will allow combining…

Ukraine: grain production revised

Ukraine’s grain output will increase to 64 million metric tons in the 2016-2017 season, the largest grain harvest since the country gained independence in 1991, Agriculture Minister Taras Kutoviy said. Ukraine produced 60.3 million metric tons of grain in the 2015-2016 marketing season, according to the ministry. The latest forecast is a revision of the…

Ukraine: passenger traffic water transport down in January-October 2016

In January-October transportation of passengers by water transport in Ukraine totaled 400,000 passengers (-22.4%, YoY).

According to the State Statistics Committee of Ukraine, total passenger turnover in Ukraine fell by 6.6% to 4.02 million passengers.

In 2015, water transport of Ukraine carried 0.6 million passengers (-3.3%, YoY). (Portnews/Business World Magazine)

Ukraine: NBU relaxes access to currency loans with participation of export-credit agencies

The National Bank of Ukraine (NBU) has made an exception of the general rules of controlling the rates of foreign credits of loans if resident borrowers (both companies and financial institutions) raise funds from nonresident creditors with the participation of export-credit agencies. “This step would expand opportunities for residents’ access to foreign credit resources provided…