The share of non-performing loans (NPLs) in Uzbek banks’ portfolios has tripled. As of January 1, it stood at 2.1%, while as of August 1 it had grown to 6.2%, Abrorhuja Turdialiev, deputy chair of Uzbekistan’s Central Bank, reported. “This has happened following the rapid growth of the loan portfolio in the previous three years.…
The National Bank of Ukraine (NBU) purchased $15 million on the interbank foreign exchange market last week. According to the results of foreign exchange interventions, the National Bank bought $15 million on the interbank foreign exchange market between September 27 and October 1. Since the start of 2021, the National Bank has sold $197 million…
Ukrainian hryvnia is among the ten best-performing currencies in the world against the U.S. dollar in 2021. As Bloomberg reports, Seychelles rupee ranks first as it has strengthened by 60% due to the resumption of the tourism business. This is the best result among 146 currencies worldwide. Seychelles rupee is followed by Zambian kwacha and…
A new factory of Italian bread and semi-finished products, Romiveria, has opened in the Georgian capital city of Tbilisi. About EUR 1 million was invested in Romiveria, which currently employs 35 people. At the first stage the factory will produce various types of piadina, a thin Italian flatbread, and in the second stage Romiveria will…
The electricity tariff for the population will not change until June 2022, the Minister of Energy and Industry of Kyrgyzstan Doskul Bekmurzaev has announced at a press conference. He clarified that the new tariffs for non-domestic consumers would come into force on October 15. “Tariffs for the population remained at the same level. They will…
World Bank’s (WB) investment portfolio in Uzbekistan includes 26 projects with a total value of $4.8 billion. The information was unveiled during negotiations between Uzbek Preisent Shavkat Mirziyoyev and WB Vice President Anna Bjerde on September 30. Since May, WB has approved the provision of preferential loans in the amount of $540 million for the…
With new regulations to halt the spread of Covid-19 in place and the requirement for compulsory vaccination expanded for some sectors of the economy, employers are provided with the right to dictate, which employees are required to undergo Covid-19 vaccination. Additionally, new regulations provide employees and employers with multiple ways of resolving vaccination-related disputes, including…