Kazakhstan: milling wheat prices strengthen

Last week growing of milling wheat prices was noted on the export market of Kazakhstan. Factors of price support: – increased demand from major importers; – strengthening of national currency; – increase in milling wheat prices in the Black Sea region. Thus, over the week 12.5% wheat export prices increased by $8-10 to $172-178/MT FOB…

Ukraine: NBU cuts refinancing rate

The National Bank of Ukraine (NBU) from October 28, cuts refinancing rate from 15% to 14%. The central bank said in a press release that the decision on the size of the refinancing rate was approved by its board on October 27. “The further relaxation of the monetary policy is linked to the reduction of…

Azerbaijan: Germany’s DHL enters market

Germany’s logistics company DHL has opened its office in Azerbaijan. The office, DHL Global Forwarding Azerbaijan, was registered according to the “single window” principle of Azerbaijani Ministry of Taxes on June. The company’s authorized capital is 100 manats. Turkish citizen Inanc Behcet Kerem is the company’s official representative. Azerbaijan Railways CJSC and DHL agreed to…

Kazakhstan: EBRD to help with energy efficiency

The European Bank for Reconstruction and Development (EBRD) and Kazakhstan’s national gas operator KazTransGas have agreed to join forces in supporting the country’s drive towards a green economy, the bank reported. According to a Memorandum of Understanding signed in Astana on October 26, the two partners will explore ways to promote energy efficiency in the…

Belarus and Poland to step up cooperation in investment and privatization

Belarus and Poland intend to step up cooperation in matters concerning investments and privatization, the press service of the State Property Committee of Belarus reported. On October 25, the Committee’s Chairman Andrei Gayev met with Deputy Development Minister of Poland Radoslaw Domagalski-Labedzki. The Deputy Development Minister of Poland emphasized the importance of smooth cooperation between…

Moldova: agreement with IMF to increase investments

If signed, an agreement with the International Monetary Fund (IMF) will increase investment in Moldova. That’s according to the Governor of the National Bank of Moldova (NBM), Sergiu Cioclea. According to him, as soon as Moldova signs an agreement with the IMF, funding and grants from various international organizations and private investors will come in…

Uzbekistan: unemployment rate totaling 5.1%

The number of employed in the economy of Uzbekistan in January-September amounted to 13289,3 thousand, having increased by 1.8% YoY. The number of people employed in the public sector amounted to 18.1% of total employment (in 2015 – 18.3%), in the private sector – 81.9% (81.7%), according to the State Statistics Committee. The share of…

Ukraine to borrow $9 billion on foreign market

Ukraine seeks to borrow $9 billion on the foreign market in 2017, Ukrainian Finance Minister Oleksandr Danyliuk has said. He said that the Finance Ministry sought to issue the fourth tranche of U.S. secured $1 billion eurobonds, raise $5.3 billion in cooperation with the International Monetary Fund (IMF) and enter the international loan market. Ukraine…

Ukraine: agriculture contributing 12% to GDP

Agriculture contributes 12% to Ukraine’s GDP and every fifth Ukrainian is working in this area. This has been reported by NGO AgroReformsUA, which aims to implement effective reforms in the agrarian sector of Ukraine. “In 2015, the share of agricultural products in the foreign trade of Ukraine reached 38%. This means that the sale of…

Ukraine: Motor Sich posts 26% fall in consolidated net profit in January-September 2016

PJSC Motor Sich in January-September decreased consolidated net profit under international financial reporting standards (IFRS) by 25.72% YoY, to 1.884 billion UAH. According to a company report posted in the information disclosure system of the National Commission on Securities and the Stock Market, its consolidated net income for the reporting period decreased by 28.28%, to…