Armenia: wage taxes not to overload entrepreneurs

The proposed amendments to the Tax Code plan a 23% flat income tax, which in turn will reduce year-by-year and reach 20%, Deputy Minister of Finance Arman Poghosyan told lawmakers at hearings of the economic affairs committee. A representative of a civil society organization asked the official, which countries they’d observed in terms of experience…

Kazakhstan: FlyArystan maiden flight lands in Nur-Sultan

FlyArystan low-cost airline has performed its first flight landing in Nur-Sultan, the Telegram Channel of the Civil Aviation Committee of the Kazakh Industry and Infrastructure Development Ministry reads. The solemn presentation of the first flight of FlyArystan low-cost carrier took place at the airport. Samruk Kazyna CEO Akhmetzhan Yessimov, Kazakh Industry and Infrastructure Development Minister…

Ukraine: military expenditure up in 2018

Ukraine’s military expenditure grew by 21%, to $4.8 billion in 2018. Total world military expenditure rose to $1.8 trillion in 2018, representing an increase of 2.6% from 2017, according to new data from the Stockholm International Peace Research Institute (SIPRI). The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India and…

Azerbaijan: Boeing 747 freighter lands at new Istanbul New Airport for first time

The Boeing 747-8F aircraft of the Azerbaijani cargo airline Silk Way West Airlines became the first F-category large cargo airliner that landed at the recently opened New Istanbul Airport. Baku-Istanbul-Baku flight was served by the Turkish “Celebi” ground handling company, which had been providing aviation services at a high professional level for many years. Since…

Ukraine: industrial output up in March 2019

Industrial output in Ukraine grew by 2.1% YoY in March without taking into account the adjustment for the calendar day effect, after a 1.8% fall in February. The growth in industrial output in March, with the calendar day adjustment, accelerated to 2.7% after a 1.8% decline in February, the Ukrainian State Statistics Service said on…

Azerbaijan: food imports up in Q1 2019

In January-March, Azerbaijan increased the imports of food products by 15.4% YoY, to $389.942 million, reported the State Customs Committee. In particular, wheat formed the major share in the structure of food imports – 405.8 thousand tons (up by 28.4%) valued at $91.13 million, while vegetable and animal oils – 33.1 thousand tons (-25%) at…

Latvia: Swedbank’s profit up in Q1 2019

Swedbank’s profit in Q1, compared to the same period of 2018, grew to EUR 29 million. The reason for this was increased economic activity by the bank’s clients and therefore bigger income for the bank, as reported by the bank’s representative Janis Krops. Net interest income, when compared to Q1 2018, grew by 6%, which…

Ukraine: gross national income up in 2018

The gross national income of Ukraine in 2018 increased by 19.3% YoY, the State Statistics Service of Ukraine has reported. According to updated data of the State Statistics Service, Ukraine’s gross national income last year amounted to UAH 3.64 trillion. According to the State Statistics Service, the gross national income in 2017 amounted to UAH…

Ukraine: gross national income up in 2018

The gross national income of Ukraine in 2018 increased by 19.3% YoY, the State Statistics Service of Ukraine has reported. According to updated data of the State Statistics Service, Ukraine’s gross national income last year amounted to UAH 3.64 trillion. The gross national income in 2017 amounted to UAH 3.05 trillion, up by 29.2% YoY.…

Latvia: Riga’s public transport company fined EUR 2.4 million in nano-water criminal case

Latvia’s Competition Council has applied a fine of EUR 2.4 million to Riga’s public transport company Rigas satiksme for participating in a prohibited agreement in the so-called nano-water case, as reported by the council on April 24. The Competition Council uncovered a prohibited agreement in two of Rigas satiksme’s price surveys on procurement of nano-technological…

Ukraine: construction industry up in Q1 2019

In January-March, Ukrainian enterprises completed construction works worth UAH 26.5 billion, the index of construction in relation to the relevant period in 2018 amounted to 124.3%, Deputy Minister of Regional Development, Construction, Housing and Utilities Lev Partskhaladze wrote on his Facebook page. “In 2019, the construction industry continues growing. In the first quarter, construction works…

Ukraine: retail trade turnover up in Q1 2019

In January-March, retail trade turnover in Ukraine reached UAH 235.8 billion, up by 12.5% YoY, the State Statistics Service reports. The biggest growth in retail trade turnover over the reporting period was recorded in the city of Kyiv (UAH 45.05 billion), Dnipropetrovsk region (UAH 22.2 billion) and Kharkiv region (UAH 19.1 billion). The lowest retail…