Azerbaijan: tea to be exported to Turkey

An agreement has been reached between Farma-Shah LLC (Azerbaijan) and a Turkish company on the export of Azerbaijani tea to Turkey, the Ministry of Economy said in a statement on November 6. Also, the negotiations on the export of raw materials used as an additive in cement production have been held between Nakhchivan Cement Plant…

Lithuania: slowdown signs visible

Lithuania’s central banker says it sees no clear signs of an upcoming new economic crisis but warns about slowing growth. Vitas Vasiliauskas, the Bank’s chief, acknowledges that the “income turning to expenses” continues, although differently from ten years ago. According to him, the Bank’s assessment is based on how the 2019 budget numbers. (BNN/Business World…

Ukraine: SkyUp gets permission for all new routes

The State Aviation Administration of Ukraine has satisfied all applications from the low cost airline SkyUp for new regular and charter flights. This is stated in the newsletter issued by the Administration’s commission following its meeting on October 29. Thus, SkyUp is allowed to fly regularly from Kyiv to Kharkiv, Poprad (Slovakia) and Abu Dhabi…

Georgia: Japan hosts wine tasting in Matsuyama

A Georgian wine tasting was held in Matsuyama, Japan. The tasting was attended by numerous wine importers, masters, representatives of the media, restaurants and hotels chains. During the event master of wine Kenichi Ohashi offered guests Georgian wine while introducing them to its history and culture, as well as to certain aspects of the modern…

Estonia: EBRD lowers economic growth forecast

The European Bank for Reconstruction and Development (EBRD) has lowered its forecast for Estonia’s economic growth this year by 0.2%, to 3.6%, citing poor corporate investment. The EBRD highlighted that following the investment-led strong gross domestic product (GDP) growth recovery of 4.9% in 2017, economic growth in Estonia slowed down to 3.5% YoY in the…

Ukraine: gas price for population grows

On November 1 the price for natural gas for the population grew by 23.5%. The corresponding decision was earlier approved by the Cabinet of Ministers. Taking into account the delivery and VAT, the new gas price amounts to UAH 8.55 thousand per 1,000 cubic meters for the population, and UAH 8.36 thousand for district heating…

Georgia: Badagoni wine among world’s top 100

A red dry wine “Alaverdi Tradition” produced by the Georgian wine company Badagoni is among the top 100 wines of the world, announces Badagoni. “Alaverdi Tradition” was named one of the world’s best wines by the jury of the prestigious Sydney International Wine Competition in Australia. In the competition, wines from the most prominent winemaking…

Kazakhstan: GDP per capita to increase

Minister of National Economy of Kazakhstan Timur Suleimenov has announced a forecast of the country’s social and economic development for 2019-2023. “The forecast is based on the statistical reporting data on GDP for 2017, the results of economic sectors in seven months of the current year, and the trends on world commodity markets,” said Timur…

Azerbaijan: unemployment rate to drop

By 2030 there are plans to reduce the unemployment rate to 4% in Azerbaijan, as well as to bring the unemployment rate among women and youth to a minimum, according to the Employment Strategy of Azerbaijan for 2019-2030. The unemployment rate in Azerbaijan in 2017 was 5%, the unemployment among women was 5.9%, among young…

Ukraine: Zhytomyr region exports 64% to EU countries

Zhytomyr region sells 64% of its export products to the countries of the European Union, Vice Prime Minister for European and Euro-Atlantic Integration of Ukraine Ivanna Klympush-Tsintsadze said during the regional conference “European Integration: The Power of Opportunity” held in Zhytomyr. “I am glad that 64% of exports from Zhytomyr region are directed to the…