Kazakhstan: oilseed planted area up

In Kazakhstan oilseeds planted area for 2016/2017 crop increased to 2118 thousand ha compared to 2101 thousand ha last year.

Planted area approached the 2014/20015 season’s level, when the acreage reached all-time high at 2413 thousand ha. Despite rains, weather conditions allowed farmers to conduct seeding within optimum time. (UkrAgroConsult/Business World Magazine)

Iran: NIOC signs oil contract with Lukoil

National Iranian Oil Company (NIOC) has signed oil contracts with a range of companies, including Russian oil producer Lukoil.

Other companies included OMV, Total and Pertamina.

Earlier in August, Russian ambassador to Iran Levan Dzhagaryan said Lukoil was considering development of two deposits near the Iranian city of Ihvaz. (Prime/Business World Magazine)

Belarus: IFRS to make corporate sector more transparent

Belarus’ move to adopt International Financial Reporting Standards (IFRS) and clarifications on January 1, 2017 will contribute to increasing the transparency of Belarus’ corporate sector for investors and creditors, Pavel Laschenko, EY Belarus Managing Partner, believes. The IFRS standards will acquire the same legal status as guidelines and provisions of the Finance Ministry of Belarus…

Ukraine: sale of Turboatom, Electrotyazhmash, State Food and Grain Corporation in 2017 approved

The government’s committee for economic, financial and legal policy has approved of a list of enterprises to be privatized in 2016-2017, among them are Turboatom, Electrotyazhmash, the United Mining and Chemical Company, the State Food and Grain Corporation, and a state stake in Zaporozhye Titanium and Magnesium Combine LLC. A respective draft resolution was approved…

Belarus: Gomselmash deliveries to Ukraine up in 2016

Since the start of the year the Belarusian mechanical engineering company Gomselmash has delivered 150 grain and forage harvesters to Ukraine, up by 50 vehicles YoY, the First Deputy Director of the company’s regional sales department Igor Korotkevich reported. The exports mainly consisted of grain harvesters, including KZS-1218, KZS-812 that have already made a good…

Belarus to take part in EU4Energy program

Belarus will take part in the EU’s new program of technical support for the countries of the Eastern Partnership EU4Energy, the press service of the Energy Ministry reported. “Last week the Energy Ministry played host to a meeting between Director of the Energy Community Secretariat Janez Kopac and expert on renewable energy and energy efficiency,…

Ukraine: spirits output down

Industrial processing of grain in Ukraine has demonstrated a downward trend over the last three years. Production of basic processed products has declined on average by 20% compared with 2013. For instance, beer production has fallen by 29%, vodka – by 43%, malt – by 19%. Only compound fodder production, which has decreased by only…