Uzbekistan’s largest and one of the oldest state-owned banks, Uzpromstroybank (UzPSB) is set to go private until 2023. According to a government resolution adopted on March 29, the International Finance Corporation (IFC) is to open a $75-million credit line for this purpose. All or part of the loan is to be converted into additional ordinary…
The growth of salaries and retail trade in Ukraine in February shows that consumer sentiment is improving, according to Prime Minister Denys Shmyhal. “The average salary in February was 12.5 thousand hryvnias. Considering inflation, salaries rose by 7.6% YoY. In addition, retail trade in February increased by 5.6% (an increase of 3.5% in January). Such…
Ukraine’s exports to the UK grew by 38% YoY in the first quarter of 2021, while IT services exceeded traditional export groups. “In the first quarter of this year, our exports to the UK grew by 38%. I do not know whether it is the result of signing of the Political, Free Trade and Strategic…
Turkish Aksa Enerji is intending to build two 470 MW and $300 million worth of power plants in the Tashkent region of Uzbekistan, the Energy Ministry reports. The stations are expected to generate 3.9 billion kilowatt-hours of electricity per year. The power plants are set to be built on 7 hectares of land in the…
The first period for submitting applications to leave the second pension pillar ended on April 1 and those leaving would withdraw a total of almost EUR 1.3 billion. Significantly more people continue to collect pensions than the November 2020 survey of pollster Turu-uuringute AS showed. In November 2020, more than half, or 56%, of working-age…
Slower-than-expected vaccination of the population or emergence of new strains of COVID-19 virus could delay economic recovery until 2022 in the Kyrgyz Republic, statement by the International Monetary Fund following consultations with the Kyrgyz authorities says. It is noted that the global economic situation remains uncertain and serves as the basis for development of plans…
The State Aviation Administration of Ukraine has allowed Ukraine-based SkyUp Airlines to launch three new scheduled flights, namely Kyiv-Bodrum (Turkey), Kyiv-Helsinki (Finland) and Lviv-Baku (Azerbaijan). Relevant orders have been published on the agency’s website. The Kyiv-Bodrum flights will be performed three times a week, the Kyiv-Helsinki flights – four times a week and the Lviv-Baku…