Russia: RZHD to participate in Rasht-Astara railway project implementation

Russian Railways is interested in taking part in implementation of the Rasht-Astara railway project of Azerbaijan and Iran, First Vice President of Russian Railways Alexander Misharin said. “Russian Railways has repeatedly expressed interest – including at my recent meeting with the Iranian Railways deputy head Ahmad Khodaei – to participate in implementation of the project…

Russia: gas export revenue down in H1 2016

Russia’s revenue from natural gas exports decreased by 31.6% YoY, $14.97 billion in January-June, the Federal Customs Service said. Russia exported 95.4 billion cubic meters of gas in January-June, up by 6.95% YoY. Exports to non-CIS countries rose by 14.6%, to 78.3 billion cubic meters, and exports to CIS countries went down by 18.27%, to…

Russia: Uralkali announces senior management change

Uralkali announces the appointment of Alexander Terletsky as Uralkali Trading CEO. Prior to joining the company, Alexander Terletsky held the position of General Director of Lukoil Eurasia Petrol A.S., where he was responsible for sales and logistics of Lukoil products in Azerbaijan, Georgia and Turkey. In 1995 to 2011, he worked in senior positions at…

Belarus: Tajikistan interested in buying more agricultural machines

Economy Ambassador Extraordinary and Plenipotentiary of Belarus to Tajikistan Oleg Ivanov met with the Chairman of the Board of the Eurasian Development Bank (EDB) Dmitry Pankin and Deputy Agriculture Minister of Tajikistan Zevarsho Zevarshoyev, the press service of the Belarusian Ministry of Foreign Affairs reported. Participants of the meeting were made familiar with progress in…

Uzbekistan: MTS sells its stake in UMS

SUE “Center of radio communication, broadcasting and television” and MTS signed an agreement to acquire shares of MTS in the authorized fund of JV LLC “Universal Mobile Systems” in the amount of 50.01% of the authorized fund. Thus, SUE “CRCBT” became the sole founder of the mobile operator “Universal Mobile Systems”. As reported on the…

Kazakhstan: Massimov familiarizes with modernization of Pavlodar Petrochemical Plant

During his working trip to Pavlodar region, Prime Minister Karim Massimov visited Pavlodar Petrochemical Plant. The Prime Minister was informed of the course of the plant’s modernization program and a unique complex for deep processing of oil. Besides, Massimov inspected the mechanism for primary processing of oil. Pavlodar refinery modernization project is a part of…

Uzbekistan: delegation of Korea Telecom visits FIEZ Navoi

A delegation of Korea Telecom led by Vice President Mr. Baek-hee Lee paid a visit to the free industrial zone Navoi.

During the meeting the current state and prospects of cooperation in investment spheres were discussed.

Korea Telecom is one of the leading companies in Korea introducing universal telephone and communication services. (UzDaily/Business World Magazine)

Azerbaijan: car plant groundbreaking ceremony held

A groundbreaking ceremony for construction of a joint Azerbaijani-Iranian car plant was held on August 6, in Azerbaijan’s Neftchala industrial quarter. The plant is a joint project of Azerbaijan’s AzEuroCar LLC and Iran’s giant automaker Iran Khodro. Azerbaijan’s Economy Minister Shahin Mustafayev and Iran’s Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh participated in…

Belarus: BelOil redirecting export flows

Belarus Petroleum Company (BelOil) has redirected part of its export routes from Ukrainian ports to Lithuania’s Klaipeda, a source in the profile ministry said. The redirection is connected with more favorable logistic conditions. Belarus Petroleum Company (BelOil) was founded in May 2007. The main shareholder is Belorusneft (52% of shares), with Naftan and Mozyr refineries…

Belarus to continue WTO accession talks

Belarus will continue negotiating its accession to the World Trade Organization (WTO), representatives of the Foreign Economic Affairs Department of the Belarusian Ministry of Foreign Affairs reported. The negotiations will be aimed at shaping and agreeing upon balanced and favorable terms of Belarus’ membership in the World Trade Organization. Work to that effect will be…

Belarus: exports to go up by 2020

Belarus’ Council of Ministers approved of the national export promotion program for 2016-2020 and a roadmap for its implementation. The plan is outlined in Decree No. 604 of August 1, the press service of the Belarusian government reported. “The national program does not provide a detailed forecast for external trade in 2016-2020 but spells out…

Belarus: electrical power output down H1 2016

Electrical power output of Belarus’ power generating companies reduced by 2.8% YoY in January-June, to 16.6 billion kilowatt-hours (kWh), an official with the National Statistics Committee of Belarus (Belstat) reported.

Thermal energy output in H1 2016 went up by 0.9% YoY, to 32.8 million gigacalories. (Prime-TASS/Business World Magazine)

Belarus: gold and forex reserves up in July 2016

In July Belarus’ gold and foreign exchange reserves rose by $315.4 million if calculated in accordance with methods of the International Monetary Fund. According to preliminary data, the reserves totaled $4,629.6 million as of August 1, according to the Information and PR Department of the National Bank of the Republic of Belarus. In national terms…

Azerbaijan: export & investment opportunities with China expand

The Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and the China Council for the Promotion of International Trade (CCPIT) signed a memorandum of understanding. The memorandum was signed during the meeting of representatives of AZPROMO and CCPIT in Baku. The memorandum stipulates expanding joint export and investment opportunities between Azerbaijan and China, as well as…