Azerbaijan: banking sector stabilized

Azerbaijani banking sector stabilized after creditors restructured $3.3 billion in foreign obligations of the state-owned International Bank of Azerbaijan (IBA) in return for government bonds, said Nariman Mannapbekov, head of ADB Azerbaijan office. “Some capitalized banks are making initial efforts to gradually build-up their loan portfolios,” Mannapbekov said. On July 15, 2015, President of Azerbaijan…

Turkmenistan expanding trade with Georgia

The opening ceremony of the Tbilisi Sea Plaza shopping mall was held in Tbilisi, Georgia, the Turkmen Foreign Ministry said in a message. According to the message, “Turkmenistan” store with a wide range of textile products, carpets and rugs, souvenirs, was opened in the shopping mall. Georgian Prime Minister Giorgi Kvirikashvili attended the opening ceremony.…

Kazakhstan: Turkey ready to import meat products

Turkey is willing to import Kazakhstani meat products, the press service of the Foreign Affairs Ministry of Kazakhstan reported. “Turkey values quality of Kazakhstani meat products and knows how they taste. I am confident that the meat products imported from Kazakhstan will be very popular with our people,” Nihat Zeybekci, Turkish Minister of Economy, said…

Azerbaijan: railways to buy 900 new cars

Azerbaijan Railways CJSC will buy 900 new freight cars in the near future, says a report on implementation of measures reflected in the Strategic Roadmap for the Development of Logistics and Trade in Azerbaijan. According to the report, the purchase of additional cars is related to an increase in freight traffic volume. Azerbaijan Railways will…

Turkmenistan and Russia outline plan of action to develop economic partnership

The trade and economic partnership was the central theme of the Turkmen-Russian summit talks in Ashgabat. “The parties noted its progressive and stable nature. Despite the objective difficulties associated with the situation in the global economy, Russia continues to be one of Turkmenistan’s largest trading partners,” says the report. Visits of the Turkmen delegations of…

Azerbaijan studying possibility for banks’ merger

Azerbaijan’s Financial Market Supervisory Authority is studying the possibility of local banks’ merger, according to the monitoring report on the implementation of measures reflected in the Strategic Roadmap for the Development of Financial Services. The possibility of further capitalization of the banks is also being considered, according to the report. The Financial Market Supervisory Authority…

Turkmenistan: Poland interested in boosting ties

Poland is interested in boosting relations with Turkmenistan, Polish President Andrzej Duda said in his message to his Turkmen counterpart Gurbanguly Berdimuhamedov on the occasion of the 25th anniversary of the establishment of diplomatic relations between the two countries. Poland is interested in intensifying relations with Turkmenistan to use the potential of cooperation between the…

Kazakhstan: 21.4 million tons of grain harvested

As of October 2, Kazakhstan’s grain harvest exceeded 21,4 million tons, the Ministry of Agriculture reported. According to regional agricultural departments, as of October 2, a total of 15,185,700 hectares or 99.3% of areas under crops have been harvested across the country. Average yields amounted to 14.1 hundredweights per hectare. Last year, a total of…

Turkmenistan: Europe still hopeful to get gas

Turkmenistan, a hydrocarbon-rich Central Asian country, is still hopeful to see its gas reach the European markets, while Brussels counties talks in this regard. The EU is negotiating with Azerbaijan and Turkmenistan over a Trans Caspian Pipeline System, said Anca Paduraru, EU Spokesperson for Energy Union projects. “Negotiations are on-going,” Paduraru said, when answering on…

Estonia: Coop Pank launches operations

The former Krediidipank is officially launching operations under the new Coop Pank brand. All Krediidipank subsidiaries will likewise be switching to the new name. Coop Pank’s major stakeholder is Coop Eesti, a retail group consisting of 19 regional consumer cooperatives. According to Coop Pank board chairman Margus Rink, 14 bank branches across Estonia have been…

Ukraine: gas reserves replenished

Natural gas reserves in Ukrainian underground storage facilities (USFs) on September 23-30 rose by 2.2%, or by 347 million cubic meters, from 16.048 billion cubic meters to 16.395 billion cubic meters, according to the state-run gas transport system operator Ukrtransgaz. The daily volume of gas injection into the USFs as of September 30 was estimated…

Ukraine: oats exports down in July-August 2017

According to the official statistics figures, during the first 2 months of 2017-2018 MY (July-August) Ukraine exported 2.9 thousand of oats, down 2.4-fold YoY (nearly 7 thousand tons). In the reporting period, Pakistan became the largest importer of the Ukrainian grain, and purchased 78% of the general shipments, followed by Qatar (10%), and the United…

Turkmenistan: Berdimuhamedov instructs to strengthen fight against corruption

Turkmen President Gurbanguly Berdimuhamedov in his message to the National Security Ministry’s employees on the occasion of 26th anniversary of this authority said that the fight against corruption and bribery carried out jointly with other law enforcement agencies should be strengthened. “You must confront the challenges and threats of modernity, prevent the entry into the…