Turkmenistan interested in foreign investors for its gas and chemical industry

Energy-rich Turkmenistan invites foreign investors to participate in the development of the gas and chemical industry. The country plans to build several large gas chemical complexes, a source in the fuel and energy complex of the country said. These large complexes will focus on the production of polyethylene, polypropylene, polyvinyl chloride, monoethylene glycol, dimethyl ether…

Latvia: envelope wages priority this year

More than half of Latvian employers pay their employees wages below the minimal monthly amount, said Director of the State Revenue Service Tax Control Office Sandra Karklina Admine on July 24. She says SRS puts a lot of effort into combating grey economy. Combating envelope wages will be one of this year’s main priorities, she…

Ukraine: Economy Ministry promulgates list of state enterprises to be privatized

The Ukrainian Ministry of Economic Development and Trade has published a list of state enterprises, organizations and institutions that will either remain in state ownership or will be transferred to concession, privatized or liquidated. The Cabinet of Ministers approved the relevant documents that together represented a strategic vision for the further management of state-owned enterprises,…

Latvia: Norvik Banka and Rietumu Banka fined

Finance and Capital Market Commission in cooperation with Federal Bureau of Investigation’s Counterproliferation Center found out in a target inspection that Latvian banks – Norvik Banka and Rietumu Banka – had not followed requirements of regulations for the prevention of money laundering and terrorism funding. Violations are associated with client evaluation, which includes transaction monitoring…

Ukraine: barley exports up in 2016-2017

According to the official statistics figures, in 2016-2017 MY Ukraine exported 5.35 million tons of barley, up by 21% YoY (4.41 million tons), which became the highest rate for the country in seven recent years. In the season 2016-2017, Saudi Arabia (42% of the general supplies) and Libya (18%) were the main importers of Ukrainian…

Uzbekistan: S&P affirms Ipoteka Bank’s rating

S&P Global Ratings affirmed its “B+/B” long- and short-term counterparty credit ratings on Ipoteka Bank JSCM. The outlook is stable. The affirmation reflects S&P’s view that over the past two months Ipoteka Bank’s capitalization has significantly improved on the back of support received from the government of about Uzbekistani sum (UZS) 380.8 billion (about $95…

Belarus: first berry harvester undergoing testing

The new berry harvester designed by the National Academy of Sciences of Belarus is intended for harvesting currant, raspberry, black chokeberry, and other varieties, Sergei Yakovchik, the director general of the research and practical center for agriculture mechanization at the National Academy of Sciences of Belarus, reported. Currently, the berries are harvested in Belarus with…

Kazakhstan: PM surveys reconstruction of an airport in NKO

Prime Minister of Kazakhstan Bakytzhan Sagintayev visited North Kazakhstan region. While in the region, the premier surveyed the progress of reconstruction and familiarized with the prospects of development of transit potential of the Petropavlovsk International Airport. Vice governor of North Kazakhstan region Anton Fedyayev briefed Prime Minister Sagintayev on reconstruction of the terminal and landing…

Uzbekistan: measures to improve tax system approved

President Shavkat Mirziyoev signed a Decree “On measures for radical improvement of tax administration, increase tax collection and other obligatory payments”. The decree notes that the country has formed a tax system that provides for a consistent reduction of the tax burden and creates a favorable climate for business development and attracting foreign investment. However,…

Ukraine: Finance Ministry authorized to prolong agreement with EIB on EUR 200-million loan

The Cabinet of Ministers has authorized the Ministry of Finance to prolong the agreement with the European Investment Bank (EIB) on attracting EUR 200 million for financing the reconstruction of infrastructure destroyed during the military operations, as well as for resolving the problems of internally displaced persons. The relevant draft order was adopted by the…

Ukraine: flour output down in 2016-2017

Analysts estimated the domestic consumption of grains and pulses in Ukraine in 2016-2017 MY at the level of 24.2 million tons, or 42% of the general grain production (66.1 million tons), and down by 4% YoY (25.3 million tons). At the same time, the share of food use in the general domestic consumption continued steadily…

Latvia: demand for seasonal fruit increases

Compared with the previous year, demand for seasonal fruit grew this summer: 31% for peaches, 35% for plums and 63% for apricots at Maxima Latvia supermarkets. “Although residents also put unusual fruit in their baskets, such as plum and peach hybrids, preference remains high for usual seasonal fruit – peaches, plums, cherries, etc. Last summer,…

Turkmenistan to develop business ties with USA

Trade and economic relations were high on agenda as Washington hosted the Turkmen-U.S. business session on development of business ties. The event was held with the participation of officials of Argus Ltd, Boeing, CNH Industrial, Ellicott Dredges, General Electric, John Deere, Lindsey, Microsoft, Oxbox Energy Solution, Caterpillar and Westport Trading Europe Ltd, said the Turkmen…