Latvia: requirement for purchase of land not discriminating towards EU citizens

The law that provides stricter language requirements for procurement of agriculture land is not discriminatory towards citizens of other European Union member states, says Latvian Agriculture Ministry, commenting on complaints submitted to EC center for setting conflicts Solvit by foreign businessmen in relation to the requirements imposed by Latvia on privatization of land. “According to…

Belarus: Belkommunmash to sell electric buses to Russia

The mechanical engineering company Belkommunmash is exploring the possibilities of supplying electric buses to Moscow, St Petersburg, and Yekaterinburg, Vitaly Shkuratov, head for marketing and sales in Belarus and Russia at the Management Company of the Belkommunmash Holding Company, reported. “We are considering exporting electric buses to Moscow, St Petersburg, and Yekaterinburg. The trial operation…

Tajikistan to develop cooperation with Azerbaijan

Tajikistan is keen to develop cooperation with Azerbaijan in all fields, said Tajik Ambassador Soli Rustam as he presented a copy of his credentials to Foreign Minister Elmar Mammadyarov.

He noted that he would spare no efforts to contribute to developing the bilateral ties during his tenure. (AzerNews/Business World Magazine)

Turkmenistan: treaties with Uzbekistan and Kazakhstan ratified

Turkmenistan and neighboring countries of the region, which have large stocks of hydrocarbon, advocate for the diversification of the energy flows. The Parliament of Turkmenistan adopted new draft regulations on “Ratification of an agreement on strategic cooperation between Turkmenistan and the Republic of Uzbekistan” and “Ratification of an agreement on strategic cooperation between Turkmenistan and…

Azerbaijan: assets of AtaBank OJSC up

Assets of Azerbaijan’s AtaBank OJSC have increased by 30%, to 609.9 million manats since the beginning of 2017, said Chairman of the bank’s Executive Board Dayanat Guliyev. He made the remarks at the signing ceremony of a partnership agreement with the Chinese UnionPay in Baku. “AtaBank is one of the country’s leading banks in terms…

Ukraine: Antonov net profit down in H1 2017

Antonov state enterprise (Kyiv) in January-June saw net profit under Ukrainian accounting standards fall by 66.59% compared to the same period in 2016, to UAH 22.79 million. According to the financial report on the website of the enterprise, its net income in the first half of the year increased by 37.7%, to UAH 2.223 billion.…

Ukraine: barley exports down in July 2017

According to preliminary information of market participants, 815 KMT of barley was exported from Ukraine in the first month of the 2017-2018 season, down by 19.4% YoY. Traditionally, the key end market for Ukrainian barley is Saudi Arabia, which purchased some 300 KMT in July. China also actively imported barley from Ukraine. 176 KMT of…

Latvia: most residents to have access to fast transactions

Soon Latvian residents and businesses will be able to perform most transactions within seconds, Swedbank representatives promise. This will be made possible thanks to lightning-fast or electronic transaction system between European banks. Multiple Latvian banks intend to join this system. Swedbank predicts that Latvian residents will like this, seeing as how they have already gotten…

Turkmenistan: law on cotton-growing adopted

Turkmenistan’s parliament has adopted the law “On cotton-growing”, the Turkmen government said in a message. The draft law defines the legal, economic, organizational basis of cotton-growing in Turkmenistan and regulates relations related to the turnover of raw cotton and cotton products. The adoption of this law will give a new impetus to the development of…

Ukraine: berry exports up in 2016

In 2016 Ukrainian exports of fresh cranberries and bilberries reached 2,900 tons (valued at $6.9 million), 3.3 times as high as in 2015, according to the Ministry of Agrarian Policy and Food of Ukraine. Poland (1,418 tons), the Netherlands (613 tons) and Belarus (541 tons) were the leading export destinations for those berries. An increase…

Latvia: men the most active Internet shoppers

Internet stores continue becoming more and more popular among residents. The number of transactions using Visa payment cards issued by PrivatBank has grown by 6.1% YoY in the first six months of 2017, according to data compiled by PrivatBank. January and March were the hottest months for Internet shopping in this year’s six-month period. The…

Ukraine: 2018 budget to be ready on time

Ukraine’s Minister of Economic Development and Trade Stepan Kubiv says the draft national budget for 2018 has already been endorsed by all ministries and is to be submitted to the Verkhovna Rada for consideration within the timeframe established by law, i.e. before September 15. “As of now, the revenue and expenditure parts of the budget…