Ukraine: Ryanair to open representative office

Irish low-cost airline Ryanair launches routes from Kyiv and Lviv in October. If its activity is successful, the airline will open a representative office in Ukraine. According to a source close to the negotiation process, Ryanair will launch European routes from Kyiv and Lviv in October. As noted, the new agreement “gives the carrier the…

Kazakhstan: Kazkommertsbank and Halyk Bank merger to be completed in H2 2018

S&P Global Ratings kept their “B+” long-term global scale issuer credit rating and “kzBBB-” long-term Kazakhstan national scale rating on Kazkommertsbank (KKB) on CreditWatch with positive implications, where it was placed on December 22, 2017, the press office of the international rating agency reported. At the same time, the rating agency affirmed the “B” short-term…

Ukraine: economy up in 2017

Prime Minister of Ukraine Volodymyr Groysman stated that the Ukrainian economy grew by 2.5% in 2017. “Ukraine’s economy grew by 2.5% in 2017. When I became the prime minister, the main task of our government was to stop the decline. We did it and the Ukrainian economy began to grow. I understand that such indicators…

Latvia: finance sector’s development council supports prohibition of shell companies

Latvian Prime Minister Maris Kucinskis’ managed Finance Sector’s Development Council supported initiative on prohibiting shell companies, as confirmed by the prime minister. “We have reached an agreement on prohibition of shell companies in Latvia,” said Kucinskis, adding that the government planned to review this matter on April 3, and the Saeima – on April 8.…

Azerbaijan: North-South corridor to help transit cargo transportation growth

The International North-South Transport Corridor will make a significant contribution to increase in cargo transportation through Azerbaijan, the Black Sea Trade and Development Bank (BSTDB) declared. “BSTDB is interested in such infrastructure projects,” the bank said. “The North-South project is a regional initiative covering several BSTDB member-states, which is another reason for BSTDB to support…

Ukraine: Mriya makes first flight after repair

Ukrainian aircraft An-225 Mriya has made its first flight after repair and modernization. The pilots raised the Mriya to a height of about 12 kilometers, where they tested the plane’s new navigation equipment. “Our designers have implemented another series of improvements in avionics. Such modernization is going on continuously,” Director of Antonov Airlines Mykhailo Kharchenko…

Armenia: nuclear energy production to grow

Armenia’s nuclear energy production will grow by 10% under the service life extension and modernization program of the second power unit of the nuclear plant, minister of energy infrastructure and natural resources Ashot Manukyan declared on March 21. According to him, the capacity factors of electricity production are currently equally distributed in Armenia. “Nuclear energy,…

Armenia: government debt down in February 2018

Armenia’s government debt decreased by 0.6% in February, official data reveals. According to information provided by the finance ministry, the country’s debt totaled $6.898 billion in January and dropped to $6.851 billion the next month. The foreign debt is down by 0.2% in the reporting period, decreasing from $4.963 billion in January to $4.950 in…

Belarus: BelGee aiming for long-term goals

The management of the BelGee factory is intent on enabling conditions for the future development of the enterprise, Belarusian First Deputy Industry Minister Gennady Svidersky said, who is the acting director general of the enterprise now. The executive said: “Making cars, which can compete on the global market, is the key task for us. If…