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…

Ukraine: agriculture ministry launches pilot projects to improve grain quality

The Ukrainian Agrarian Policy and Food Ministry is launching a pilot project, initiated by the International Finance Corporation, to improve the quality of grain in Mykolaiv, Odessa, Kirovohrad and Poltava regions. Ukrainian Grain Association (UGA) President Volodymyr Klymenko has stated this at a press conference. “The International Finance Corporation (IFC) works for grain quality. The…

Azerbaijan: foreign debt exceeds $7.6 billion

As of October 1, the volume of Azerbaijan’s foreign state debt amounted to $7.651 billion (12.403 billion manats), that is, 20.1% of the country’s GDP, Azerbaijan’s Finance Ministry said in a message. The statistics on borrowings includes Azerbaijan’s direct obligations and contingent obligations on the loans, drawn under state guarantee. As of October 1, the…

Turkmenistan: Ashgabat and Vienna aim at expanding co-operation

The issues of strengthening cooperation in politics, economy and culture have been discussed during the meeting with the Austrian Ambassador to Turkmenistan Gerhard Sailler in Ashgabat, the Turkmen Foreign Ministry said in a message. “The issues on cooperation within international organizations, primarily the UN, EU and OSCE, were highlighted among the priority areas of cooperation”,…

Ukraine: profitability of soybean and rapeseed production to increase in 2016

In 2016 Ukraine will keep the trend of increasing of the profitability of soybeans and rapeseed production, the Director of the National Scientific Center “Institute of Agrarian Economics”, Academician of the NAAS Yuri Lupenko declared. According to scientists of the Institute of Agrarian Economics, in the current year the profitability of soybean production will increase…

Turkmenistan and OSCE cooperate in energy security

Turkmen President Gurbanguly Berdimuhamedov met with OSCE Secretary General Lamberto Zannier in Ashgabat. According to the message, the priority aspect of cooperation is to ensure energy security as an important factor of global sustainable development. “Strengthening of the constructive cooperation with the OSCE is an important priority of Turkmenistan’s foreign policy strategy,” President Berdimuhamedov said.…

Turkmenistan and Georgia promote joint transport projects

Turkmen President Gurbanguly Berdimuhamedov discussed the further cooperation prospects at the meeting with his Georgian counterpart Giorgi Margvelashvili. Stressing that Georgia played an important role in the integration of the Black Sea and the Caspian Sea, President Margvelashvili confirmed the readiness to act as a reliable partner in the implementation of joint transport projects, the…

Turkmenistan one of most promising partners for Austria

Turkmen President Gurbanguly Berdimuhamedov met with Karlheinz Kopf, the second president of the Austrian National Council, the Turkmen government said in a message. According to the message, Berdimuhamedov and Kopf discussed the issues of cooperation, established in a bilateral format and through big international organizations and authoritative organizations. The sides also exchanged views on the…