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Uzbekistan: WB to help UzAir become hybrid airline

Uzbekistan Airways plans to have switched to a hybrid airline by the end of 2019. "When we worked with World Bank (WB), they assured us that the best option that was actively used throughout the world was to create a hybrid airline," a representative of Uzbekistan Airways said. The hybrid airline will continue to fly in some areas in two classes...

Kyrgyzstan: pedestrian overpass built on Bishkek – Naryn – Torugart road

Construction of a pedestrian overpass is underway on Bishkek - Naryn - Torugart road, press service of the Ministry of Transport and Roads of Kyrgyzstan reported. The overpass is being built at the 63rd kilometer. "All the concrete and earthworks have been completed, mounting of the above-ground pedestrian crossing constructions is underway," the ministry said. The Ministry of Transport added that asphalting...

Ukraine: NBU chooses 14 systemically important banks

The National Bank of Ukraine (NBU) has identified 14 systemically important banks in accordance with the updated methodology, the central bank's press service has reported. "The National Bank has determined the list of systemically important banks in accordance with the updated methodology. The new methodology has significantly expanded the number of such banks," reads the report. According to the NBU, 14...

Ukraine: energy independence to be achieved in five years

Ukraine has every opportunity to get energy independence in five years, Prime Minister of Ukraine Volodymyr Groysman has said. "If all of us work in unison, in five years we will be able to abandon purchasing gas," he declared. The prime minister stressed that for many years Ukraine had been preserving its capabilities and gas reserves, instead, since 2008, it had...

Azerbaijan: Central Bank raises 100 million manats at auction on July 1, 2019

The Central Bank of Azerbaijan (CBA) held a deposit auction on July 1, where it attracted 100 million manats from Azerbaijani banks. The bank noted that the demand at the auction amounted to 701.5 million manats. The funds are placed for a period of 14 days with a yield of 6.51%. The auction was held on the Bloomberg trading platform. (AzerNews/Business World...

Lithuania: Revolut poses no security threat

A special Lithuanian governmental commission gave the same verdict that Revolut's activities did not run counter to the country's national interests after completing its third review of the UK-based fintech start-up. The commission that vets transactions by strategic enterprises took the decision on June 25. Revolut Bank plans to start operating as a specialized bank in Lithuania in the second half...

Kyrgyzstan: State Construction Agency promises schools, kindergartens and sports facilities

At least 1.5 billion soms are provided in the budget of Kyrgyzstan for construction and overhaul of social and cultural facilities, the State Secretary of the State Agency of Architecture, Construction, Housing and Communal Services under the Government of the Kyrgyz Republic Samat Borubaev announced at a press conference. According to him, the main area of work of the agency...

Ukraine: average monthly salary 2.5 times higher than minimum wage

In May the average nominal salary amounted to UAH 10,239, which was 2.5 times higher than the minimum wage, according to the Ministry of Economic Development and Trade. "The salary grew by almost 17.4% YoY," the ministry wrote on its Facebook page. The ministry also noted that the highest average monthly salaries were recorded in the financial and insurance sector -...

Ukraine: wheat valued at $1 billion exported in January-May 2019

In January-May Ukraine shipped 4.6 million tons of wheat to foreign markets valued at $974 million, reported the State Fiscal Service of Ukraine. Also, in the reporting period Ukraine supplied 373 thousand tons of barley to foreign markets for $77 million and 81 thousand tons of rye for $1.2 million. According to the State Fiscal Service figures, in 5 months of...

Latvia: construction costs up in May 2019

Compared to April, the level of construction costs in Latvia grew by 0.6% in May. Labor remuneration of workers increased by 1.7%, prices of building materials by 0.5%, and maintenance and operational costs of machinery and equipment by 0.1%. In May, the average level of construction costs was affected the most by the increase in labor remuneration for workers carrying...