FESCO Transportation Group and Rusagro Group have signed an Agreement of intent to arrange a special-purpose technology based on the Vladivostok Commercial Sea Port (part of FESCO Group) infrastructure to handle export agricultural products, FESCO says in a press release. The agreement is intended to optimize the supply logistics of Rusagro goods to the Asia…
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 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 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)
China’s petrochemical company Xinjiang Beiken Energy Engineering Stock Co., Ltd has opened its office in Azerbaijan. The company registered its office through the “single window” system of the Ministry of Taxes. The Chinese company’s official representative in Azerbaijan is an Australian citizen Gao Yang. Xinjiang Beiken Energy Engineering Stock Co., Ltd is based in Karamay,…
As of September 29, agricultural organizations of Belarus planted winter grain crops throughout 1.12 million ha, or 83.4% of the plan, the Ministry of Agriculture and Food declared. Also, agrarians continued the harvesting campaign. In particular, Belarus harvested 197 thousand tons of corn for grain throughout the areas of 26.7 thousand ha (15.1%). The average…
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 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.…
Belarus plans to sign an agreement with the Export-Import Bank of China to promote Chinese direct investments to the tune of about $5 billion, Belarus’ Economy Minister Vladimir Zinovsky reported. “During this visit (the state visit of Belarus President Alexander Lukashenko to the People’s Republic of China on September 28-30) a loan agreement with the…
Turkey is interested in agrarian products and research institutions in the agricultural sector. This has been said by the Deputy Minister of Agrarian Policy and Food on European Integration Olha Trofimtseva after the third meeting of the Ukrainian-Turkish working group on agriculture. “Ukraine is interested in exports of vegetable oils, including sunflower, as well as…
Public joint-stock company Ukrzaliznytsia is testing TE33€ freight diesel locomotive made by General Electric Corporation (the United States). “The General Electric’s locomotive is being tested in Ukraine. The tests will last for four months. All its capabilities will be tested”, Ukrainian Infrastructure Minister Volodymyr Omelyan said at the presentation of the locomotive in Kyiv. He…
On September 27, Uralkali held its extraordinary general meeting of shareholders (EGM) in the town of Berezniki (Perm Territory). Uralkali’s EGM elected the new board of directors, including Sergey Chemezov, Dmitry Konyaev, Dmitry Lobyak, Luc Maene, Sir Robert Margetts, Dmitry Mazepin, Dmitry Osipov, Paul Ostling and Dimitry Tatyanin. The EGM also elected the new revision…
Ukrainian farmers continue to harvest sunflower. As of September 26, 3160.6 thousand ha had been threshed, or 53% of the planned area (5916.2 thousand ha), down by 2% YoY (3227 thousand ha). 6757.6 KMT was obtained with the average yield of 2.14 MT/ha (in 2015 – 6619 KMT with yield of 2.05 MT/ha). Soybeans had…
Ukraine, that lost three places in the Global Competitiveness Index (GCI) published by the World Economic Forum a year ago, has fallen six places more and was 85th among 138 countries. Ukraine had low scores in the following areas: financial market development (130th), institutions (129th), macroeconomic environment (128th), goods market efficiency (108th) and business sophistication…
In August Ukraine exported 2851.2 KMT of wheat, up by 50% YoY (1892.8 KMT). Over the first two months of the current season Ukrainian exporters shipped 34% more wheat than over the same period of last season (3575.5 KMT against 2662.4 KMT in July-August 2015/16). Thailand is still the key importer of Ukrainian wheat with…
As of September 26, winter crops had been sown at 2158 thousand ha, or 29% of the forecast area (7374 thousand ha). This included 2024 thousand ha of winter wheat and triticale (33% from the planned 6198 thousand ha), 79 thousand ha of rye (54% of 147 thousand ha), 55 thousand ha of barley (5%…
The results of a survey of agrarians of Ukraine conducted by the Ukrainian Agribusiness Club (UCAB), showed a significant improvement relative to August 2015 of the business climate in Ukraine agriculture, the press service of the UCAB reports. “In August for the first time since the introduction of ABI, the business climate in Ukraine’s agriculture…
The construction of the Trans Adriatic Pipeline (TAP), which is aimed at transporting Azerbaijani gas to Europe, is underway. TAP tweeted on September 28, that over 30 kilometers of steel pipes had already been strung along TAP’s route in Greece and Albania. TAP project envisages transportation of gas from the Stage 2 of development of…
Ukraine’s State Property Fund (SPF) seeks to sell private joint-stock company President Hotel, 51% of shares in Zaporozhye Titanium and Magnesium Works and 50% in public joint-stock company Azovmash. This is outlined in the fund resolution No. 1763 dated September 23. In addition, the fund intends to sell almost 100% of shares in Ukrainian Bank…
Azerbaijan’s state oil company SOCAR has extended the term of a letter of guarantee on the tender to buy a 66% stake in the Greek national gas transmission system operator DESFA until October 31, SOCAR said in a message. The message says that as a part of his visit to Greece, SOCAR head Rovnag Abdullayev…
Azerbaijan’s state oil company SOCAR will additionally produce more than 6,200 tons of oil per year thanks to the commissioning of a new horizontal well at the Western Absheron field in the Caspian Sea, SOCAR said in a message. Oil is extracted from the well bore within the range of 761-678 meters at a flow…
Russia lifts ban on importation of fruit and vegetables from Egypt, except potatoes, from October 1, Russia’s Federal Service for Veterinary and Phytosanitary Surveillance (Rosselkhoznadzor) reported. “Starting from October 1”, the Ministry announced. On September 22, Rosselkhoznadzor imposed temporary restrictions on imports of plant products from Egypt. “Due to continuing supplies of quarantineable products unsafe…
Russia is seeing good moisture levels for winter crop sowings said Andrey Sizov Jr of the influential Moscow-based analysis group SovEcon. This week the European Commission flagged “concern” about dry weather in parts of Russia, which could harm winter wheat prospects. But Sizov was upbeat about winter wheat prospects. “Things actually are looking quite well…
The government of Russia has officially made public the decision to zero down the export duties on wheat. The web-site of the government posted the corresponding resolution #966 dated September 26. According to the signed resolution, the zero rate for the export duty on grain has been set until July 1, 2018. The previous government…
The current zero rates of export duties on Russian wheat will not reduce federal budget income, the Deputy Minister of Finance Ilya Trunin declared. According to him, the Ministry does not expect for any budget losses in connection with such a decision. The government of the Russian Federation zeroed down the export duties for wheat…
Russian airline S7 Group, which comprises of Siberia Airlines and Globus, has signed a deal with Sea Launch group of companies to buy facilities of the Sea Launch spacecraft launch service, including the maritime platform Odyssey. Under the deal, S7 Group will buy the Sea Launch Commander ship, the Ocean Odyssey platform with installed rocket…
Russian fertilizer producer EuroChem has agreed with its shareholders on a $1 billion perpetual loan with a possible expansion to $1.5 billion to balance its covenant debt, a representative of the company reported. “This is a contribution into the capital, through providing a ‘perpetual loan’. The sum is $1 billion and can be raised to…
Iran has not received any offers to be excepted from an oil production freeze deal from OPEC, Iranian Oil Minister Bijan Zangeneh reported. On Tuesday, a high-ranking source in the Algerian delegation to the International Energy Forum said that Saudi Arabia was ready to cut its oil production to January levels if Iran froze its…