Ukraine: milk production down in 11 years

In 2005-2016, the milk production in Ukraine fell by almost 25%, Mykola Kovalsky, the marketing and communications director of the Astarta agro-industrial holding said. “In 2005-2016, the milk production in Ukraine fell by almost 25%, while the cow population in our country decreased by more than 45%,” Mykola Kovalsky said. The State Statistics Service of…

Tajikistan: Pamir Energy Company among international finalists for the 2017 Ashden Award

Pamir Energy Company is one of the international finalists for the prestigious Ashden Award. The 2017 Ashden Award judges have reportedly narrowed down the finalists for this year’s Awards to 22 impressive organizations, covering what they consider to be the best in sustainable energy around the world. International finalists are truly global, with projects in…

Uzbekistan: Karakalpak and Khorezm entrepreneurs to get rebates

On March 17, President Shavkat Mirziyoyev signed the resolution ‘On additional favorable conditions for entrepreneurial activity in Karakalpakstan and Khorezm regions’. The resolution aims at boosting economy, supporting entrepreneurs, nudging exports, and implementing investment projects in the two regions. Legal entities registered and doing business in Karakalpakstan and Khorezm are exempt from compulsory sale of…

Kyrgyzstan: construction of 2 pedestrian overpasses in Bishkek estimated at 37 million soms

Construction of two pedestrian overpasses in Bishkek was estimated at 37,99.5 million soms, State procurement portal reported. Pedestrian overpasses are planned to be built on Shabdan Baatyr (nearby Madina market) and Kurmanjan Datka Streets (Alamedin complex). Funds for construction are allocated from the city budget. Each of the overpasses will cost more than 18 million.…

Kazakhstan: housing construction up in 2016

Housing construction considerably increased in Kazakhstan in 2016. As much as 89,400 new apartments were built in the country in the past year. It is the highest level in all the 25 years of Kazakhstan’s independence. The previous highest rate in housing construction was recorded in 1991, when 84,500 apartments were built in Kazakhstan. The…

Ukraine: court obliges government to resume consideration of Yuzgaz’s application on Yuzivska field

Kyiv’s district administrative court has declared unlawful the decision of Ukraine’s Cabinet of Ministers not to allow Yuzgaz B.V. (the Netherlands) to participate in the product sharing agreement (PSA) on the Yuzivska field (Kharkiv and Donetsk regions) and obliged the government to resume the consideration of the company’s application. The court ruling was published in…

Ukraine: FUIB finishes 2016 with profit

First Ukrainian International Bank (FUIB) finished 2016 with a net profit of 367 million UAH. At the same time, bank’s operating profit amounted to 1.8 billion UAH. The bank reduced allocations to reserves more than 3.5-fold, from 4.8 billion UAH in 2015 to 1.3 billion UAH in 2016. According to the results of 2016, FUIB’s…

Kyrgyzstan: Bishkek HPP to burn more coal

Bishkek’s Heating and Power Plant will burn more coal after its modernization, the State Committee of Industry, Energy and Subsoil Use informed in the report on the results of the heating season. Kyrgyzstan’s power engineers are already preparing a draft resolution for preparation for the heating season-2017/2018. In total in the republic it is necessary…

Turkmenistan: president dissatisfied with local airlines’ development

Turkmenistan’s President Gurbanguly Berdimuhamedov at a meeting of the Cabinet of Ministers recalled that he had earlier given instructions concerning the development of local airlines, the Turkmen government said in a message. He expressed dissatisfaction with the management of Turkmenistan Airlines in meeting the needs of the country’s population in air transportation and noted that…

Russia: TogliattiAzot 2016 RAS net profit down

The net profit of Russian chemicals company TogliattiAzot dropped by about 94%, to 1.283 billion rubles in 2016, as calculated under Russian Accounting Standards (RAS), the company said in a statement. Revenue declined by 30%, to 44.35 billion rubles. Sales profit went down by 73%, to 7.34 billion rubles and pretax profit fell by about…

Uzbekistan: Competition committee and German Foreign Ministry discuss cooperation

The State Privatization, Demonopolization, and Competition Development Committee met with the representatives of Germany’s Foreign Ministry to discuss cooperation. The committee has closely worked together with German experts, including Finance Ministry, since 2009, pushing off the Memorandum of Understanding in Privatization and State Property Control. German support helped introduce the Corporate Governance Code in 2016,…

Ukraine: UIA denies financial relations with PrivatBank

Ukraine International Airlines (UIA, Kyiv), the country’s largest air carrier, has refuted any financial relations with PrivatBank (Dnipro). According to UIA, PrivatBank board chairman Oleksandr Shlapak in an interview with the Ekonomichna Pravda edition published on March 9, argued that all financial and budgetary operations of UIA had allegedly been outsourced to the bank. “We…

Belarus to boost trade with Pakistan to $1 billion

Belarus and Pakistan can boost trade to $1 billion by 2020, Belarusian Industry Minister Vitaly Vovk said during an event marking Pakistan National Day on March 23. “Belarus-Pakistan relations are growing stronger year by year and the bilateral cooperation is developing fruitfully in all fields,” Vitaly Vovk said. “The last two years became a watershed…