The public joint-stock company Ukrzaliznytsia intends to announce a tender to buy 1,000 more gondola cars in several days (along with tenders announced for 2,465 cars). The company seeks to build over 2,000 gondola cars at own production facilities, Ukrzaliznytsia Board Chairman Wojciech Balczun has said. “One of the investment priorities for us is freight…
German low-price store network Lidl entry into Latvia’s market will intensify competition for employees, said CEO of Latvian Association of Food Traders (LPTA) Noris Kruzitis. He said that all market participants were currently lacking employees. Kruzitis said trading was not the industry in which wage levels were high. This is why reviewing anything in the…
The Belarusian state petrochemical concern Belneftekhim increased the export of goods by 8.2% in H1 2017, the concern reported following the meeting of its council to review the performance of the national petrochemical sector. According to Belneftekhim Chairman Igor Lyashenko, the concern met all the targets for foreign trade in goods and services in H1.…
The friendly cooperation between the Republic of Korea (South Korea) and Turkmenistan will continue to expand, reassuringly said South Korean President Moon Jae-in in his letter to the Turkmen President Gurbanguly Berdimuhamedov sent on the occasion of the 25th anniversary of the establishment of diplomatic relations between the two countries. Moon Jae-in noted that during…
Insolvent banks’ assets worth UAH 644 million have been sold via ProZorro.Sales system in July, according to a report posted on the Deposit Guarantee Fund’s website. “We set several new own sales records over the month – almost UAH 668 million. This is the sum of sales per month, of which UAH 644 million are…
Qazaq Air airline has announced the launch of a new regular Astana-Zhezkazgan flight, the company press service reports. “Every Saturday from August 19, the residents and guests of Astana will be able to travel to the “copper capital” of Kazakhstan on board a comfortable Bombardier Q400 NextGen. The lowest price for a 55-minute flight from…
AVK Confectionery LLC (Kyiv), one of the largest confectionery manufacturers in Ukraine, plans to develop a branded network of retail stores. According to the press service of the company, the official opening of the second store with a cafe in Dnipro took place on July 28. The store with a total area of 115 square…
Natural gas production in Ukraine rose by 3.2% YoY in January-July, to 12.044 billion cubic meters, Ukrtransgaz has said. Ukrgazvydobuvannia increased gas production by 3%, to 8.777 billion cubic meters, Ukrnafta reduced production by 9.2%, to 0.694 billion cubic meters and other companies increased production by 7.9%, to 2.573 billion cubic meters. In July alone,…
In the opinion of specialists of the Center for Strategic Agricultural Studies, the Sumy National Agricultural University, profitability of winter rapeseed growing in Ukraine may reach 83%, while that of sunseed cultivation is expected at 79%, the Center’s director Oleksandr Maslak stated. “According to calculations for winter rapeseed growing, total farmer costs will reach UAH…
Latvia’s bread market has stabilized: demand for bread with high added value continues growing, some growth is also noted for traditional bread segments, according to analysts’ data. In Estonia and Lithuania, like Latvia, there was an increase in demand for high-quality bread. According to data from Nielsen, generally there is a slight decline (1%) on…
The construction of a gas trunk line, called Line D, via Tajikistan to China is definitely positive for Turkmenistan, even if it makes the country that much more reliant on China, Andrew Neff, a principal analyst with the IHS Petroleum Sector Risk team, reported. Neff says that Turkmenistan is solely reliant on China in gas…
Presidents of Turkmenistan and Kyrgyzstan, Gurbanguly Berdimuhamedov and Almazbek Atambayev during a phone conversation confirmed the existence of great potential for boosting relations in a wide range of areas, including in the trade and economic sphere. The Turkmen government said in a message that the parties noted the expediency of working together to expand the…
1,800 out of around 1,900 big facilities are being built by the domestic enterprises in Turkmenistan. The priority direction of the construction materials industry is the cement production. Portland cement produced at the country’s plants is used in construction of the high-rise buildings and other facilities in the seismic zone. Furthermore, the production of oil-well…
Samarkand International Airport (SIA) has resumed its work. SIA has been opened for international and domestic flights since August 1, right after the completion of the renovations related to its runway sections, according to the information published on the website of the National Air Company Uzbekistan Airways (Uzbekiston Havo Yullari). SIA has been closed for…
Since the beginning of a new season 2017-2018, and as of August 1, Ukraine supplied 2.444 million tons of grain crops to foreign markets, the State Fiscal Service of Ukraine reported. In particular, the exports of wheat totaled 794 thousand tons, barley – 812 thousand tons, corn – 836 thousand tons, and other grains –…
The free trade agreement between Canada and Ukraine is not only an economic treaty, but also a sign of solidarity between the two countries, Ukrainian Ambassador to Canada Andriy Shevchenko has said. “First of all, this agreement is a good treaty on customs duties, but, of course, it goes far beyond that. It sends a…
Air Astana has signed an agreement for long-term leasing of 5 Embraer E190-E2 airliners from AerCap. The aircraft delivery will begin in Q4 2018. “The acquisition of the E2 is the logical replacement of the E190 which we have been successfully operating since 2011. The E190 has enabled us to open up smaller markets in…
TAScombank (Kyiv) saw UAH 22.337 million of net profit in January-June, up 30.7-fold YoY (UAH 727,000). According to a bank report, its net interest income in H1 quadrupled, to UAH 617.9 million. Not taking into account expenses to form reserves net interest income totaled UAH 392.055 million (6.2-fold rise). The bank saw a 2.5-fold rise…
The Ukrainian company Nibulon plans to build at least 10 river transshipment terminals for bulk cargoes along the Dnipro River, the Southern Buh River and other navigable rivers of Ukraine, the General director of the company, Oleksiy Vadaturskyy declared. “We plan to build 10 facilities along the Dnipro River and along other rivers. This will…
Traditional Uzbek goods, including fresh and processed products of agricultural and food industry are set to be exported under a single brand UzAgro, according to the management of the holding company “Uzbekoziqovqatholding”. According to company representatives, the new brand will serve as a guarantee of high quality of products and services for partners in any…
In Q2 compared to the corresponding period of 2016 GDP grew by 4.1%, according to seasonally and working days non-adjusted data and by 4.8% according to seasonally and working days adjusted data. During Q2, the GDP was affected by an 8% increase in the volume of industrial production, 14% increase in construction, as well as…
Within four years, a number of Ukrainians traveling by plane should grow to 20 million per year, Infrastructure Minister of Ukraine Volodymyr Omelian said. “Our strategy envisages that within four years the number of air passengers will increase from 8 to 20 million people per year,” the minister said. According to him, now 4-5% out…
Italian company COF SpA and Minsk greenhouse vegetable company will set up a joint enterprise to produce lettuce in Belarus, according to the website of the National Agency of Investment and Privatization. During the ceremony to sign the relevant agreement, Francesco Barbieri, the head of COF SpA, said that he believed that this cooperation was…
The state-controlled Oschadbank (Kyiv) in January-June saw net profit rise by 22% YoY, to UAH 306 million, according to a press release from the bank. Operating income increased by 20.3%, to UAH 4.7 billion. The assets of the bank in six months increased by 4.6%, to UAH 220.3 billion. The loan and investment portfolio rose…
Ukraine has increased gas inventories in underground storage 61.3% since the end of the heating season, according to operational data from Ukrtransgaz. The inventories amounted to 13.069 billion cubic meters on July 29, up from 8.1 billion cubic meters on March 22. The current inventories are 24.4% more than on July 29, 2016 (10.211 billion…
Kazakhstan plans to increase the supplies of agro-industrial products to foreign markets by $600 million, the First Vice-Minister of Agriculture of the Republic of Kazakhstan, Kairat Aituganov declared. In February the President of Kazakhstan approved a new five-year state program for development of the agro-industrial complex focusing on production of competitive top requested products. Its…
In the first half-year of 2017, Riga International Airport retained the leader position among Baltic airports, according to statistical data on the airport’s operational results. The airport services more than 2.7 million passengers or 46% of all passengers serviced at airports of Baltic capitals. 49% of all air cargoes were also serviced in Riga. The…
Turkmenistan plans to build several new installations in its petroleum refinery complex. The country, in a bid to develop the sector, plans to construct installation for hydro refinement of diesel fuel, the unit for hydro refinement of secondary gasoline, unit for hydrogen production, installation for catalytic IDW, installation for catalytic cracking of the heating oil,…