Russia: Internet economy to grow in 2016

The economy of the Russian segment of the Internet, widely known as the Runet, will add 16.7% in 2016 to 1.581 trillion rubles, the Russian Association for Electronic Communications (RAEC) said. The growth is secured by a number of factors, including expansion of users’ expertise in Internet surfing, an omnipresent access to the Web and…

Ukraine: barley exports hit record in August 2016

According to official data, in August Ukrainian barley exports grew by 17% YoY and equaled 1924 KMT against 1019.5 KMT. During the first two months of 2016/2017 (July-August) Ukrainian exporters shipped 2204 KMT of barley, which was an absolute record for the period in question. Traditionally in August Saudi Arabia lowered its purchases, importing 371…

Kazakhstan has sufficient grain volumes for consumption and exports

During several recent seasons, Kazakhstan demonstrated significant differences in the grain harvest volumes per year. However, even in bad harvest years grain production volumes were enough to completely meet the country’s domestic and export requirements, the Director of the Grain Processors and Bakers Union of Kazakhstan Evgeny Gan declared. He said that previously wheat covered…

Bulgaria ready to export wide range of products to Azerbaijan

Bulgaria is interested in exporting a wide range of products to Azerbaijan, Bojidar Loukarsky, Bulgarian minister of economy, said. He added that the issue was pharmaceutical products and medical equipment, clothing, food and other agricultural products, building constructions, as well as the construction of mini-plants for vegetable and fruit processing, etc. “Bulgaria is greatly interested…

Azerbaijan: Bulgaria prevents investing in occupied territories

Azerbaijan appreciates Bulgaria’s constructive stance regarding prevention of any unlawful acts, including attraction of the Bulgarian capital and resources to Azerbaijan’s occupied territories, the country’s Minister of Transport Ziya Mammadov said. “This year, the Foreign Ministry of Azerbaijan has submitted a report on the illegal economic and other activities in the occupied territories of Azerbaijan…

Bulgaria interested in supplying Azerbaijani gas to Europe

Bulgaria confirms great interest in the implementation of the Southern Gas Corridor project, designed to transport Azerbaijani gas to Europe, Zhecho Stankov, Bulgarian deputy energy minister, said.

Stankov made the remarks at the meeting of the Azerbaijani-Bulgarian intergovernmental commission on economic cooperation in Baku on September 29. (Trend/Business World Magazine)

Azerbaijan: reinsurance company to increase capital

Azerbaijan’s sole reinsurance company AzRe Reinsurance OJSC plans to increase its authorized capital by 25%, to 50 million manats (AZN), the message of Azerbaijan’s Financial Market Supervisory Body said. The supervisory body registered the issue of ordinary nominal book-entry shares of the reinsurance company at face value of 25,000 manats in 2000. The issue placement…

Azerbaijan: owing no one, depending on no one

Azerbaijan enjoys great reputation around the world, President Ilham Aliyev said, addressing the opening ceremony of the 5th Baku International Humanitarian Forum. “Next month we will mark the 25th anniversary of restoration of our independence”, Aliyev said, adding that most of the years during this 25-year period had been the years of progress and development.…