The government of Tajikistan has initiated the formation of the reserve fund in the national budget for extraordinary expenses. The so-called “safety cushion” will be created from the resources of state-owned enterprises (SOE) with an allowance for potential risk from them. The strategy of managing fiscal risks from state-owned enterprises designed for the period until…
The total volume of investments of Uzbek insurers amounted to 867.547 billion soums in 2016, up by 19.3% YoY, the country’s Finance Ministry reported. According to the ministry, a major part of the investments (86.3%) accounted for banking deposits and securities. The amount of deposits increased by 15.7%, to 390.1 billion soums, investments in securities…
Moody’s Investors Service expects Kazakh banks to continue facing solvency risks over the next 12-18 months amid a challenging business environment, the rating agency said in its report entitled “Banks – Kazakhstan; Heightened Insolvency Risks Drive the Negative Outlook”. “Asset quality remains weak across Kazakhstan’s banking sector as the depreciated tenge, combined with challenging operating…
Ukraine’s Cabinet of Ministers on February 8, adopted a resolution titled “On Confirmation of the Plan of Measures for Preparing to Introduce the Joint Aviation Space of Ukraine with the European Union (EU) and Its Member States”. Ukraine’s Infrastructure Ministry, citing its head Volodymyr Omelyan, said the measure was drafted with the aim at fulfilling…
Hutchison Ports and DP World, one of the world’s biggest port operators, will enter Ukraine as soon as this year. According to Infrastructure Minister Volodymyr Omelyan, Hutchison Ports will start operating in the port of Chornomorsk in June-July and DP World by the year end. Hutchison Ports has already signed a memorandum of understanding with…
Ukraine International Airlines (UIA) is expected to double the frequency of flights on the Kyiv-Chernivtsi route from April 14. Additional flights will be operated under a mixed schedule with departure from Kyiv on Mondays, Wednesdays, Fridays and Sundays at 02:30 p.m. and return departure from Chernivtsi at 04:45 p.m.; departure from Kyiv on Tuesdays, Thursdays…
The analysis of the state of assets of state-run Ukreximbank and Oschadbank (both based in Kyiv) conducted by the National Bank of Ukraine (NBU) in January revealed worsening of the quality of some credits in the past year, the Finance Ministry said. “The discipline of servicing the credits by many large borrowers significantly worsened, and…