Chinese business delegation comprised of representatives of several major corporations visited Uzbekistan. They attended a business forum with participation of business circles of the two countries. The State Committee of Republic Uzbekistan for investments organised the event. Welcoming the participants, Deputy Prime Minister Ulugbek Rozukulov noted that the two countries had established a strategic partnership…
International reserves of Kyrgyzstan reduced by $20 million in March, the National Bank of Kyrgyzstan reported. As of the end of March, gross reserves amounted to $1,971.4 billion. In February the figure was slightly higher – $1,991.49 billion. At the same time, compared to December 2016, the country’s reserves grew by $2.27 million. In March…
Azerbaijan is ready to open a trading house in the UAE and appoint a trade representative there, Azerbaijani Economy Minister Shahin Mustafayev said. He made the remarks at the 6th meeting of the Azerbaijan-UAE intergovernmental commission for trade, economic and technical cooperation in Dubai, reads a message of Azerbaijan’s Economy Ministry. Speaking about trade relations…
Citibank (Kyiv) has decided to send UAH 1.269 billion to pay dividends, the bank has said in a report. The decision was made by the bank’s shareholders at a general meeting on April 19. Dividends will be paid within six month from the moment of the decision-making. Dividends will be paid directly to shareholders. Citibank…
The European Bank for Reconstruction and Development (EBRD) intends to buy a stake in state-owned Oschadbank (Kyiv) in the amount of 10-25% depending on the price, and sell it in three or five years at one of the Ukrainian exchanges, EBRD Managing Director for Eastern Europe and the Caucasus Francis Malige has said. “We are…
Public joint-stock company Ukrtransnafta in 2016 saw an 11.7% rise in net profit compared to 2015, to UAH 1.519 billion, the company’s press service reported on April 21. The press service said that taxes and duties paid grew by 64.3%, to UAH 2.19 billion. The large growth of payments to the national budget is linked…
Due to an increase in minimum wage to UAH 3,200, revenues to the national budget from military tax collection in January-March grew by 30%, the State Fiscal Service of Ukraine reported. “In January-March revenues to the state budget under the budget classification code 11011000 (military tax collection) amounted to UAH 3 billion 146.8 million, which…
A contract has been signed for the development of a reconstruction project of Zakusala television tower. The contract provides that a reconstruction project is to be developed in the next two years. The project itself will include reconstruction of technical and administrative rooms, as well as the publicly accessible portion of the television tower, which…
Based on current data, Tajikistan’s gross domestic product (GDP) for the first three months of this year was some 10.5 billion somoni (equivalent to little more than $1.2 billion), up by 6.5% YoY in comparable prices, according to the Agency for Statistics under the President of Tajikistan. In January-March GDP structure by sources of income…
The foreign trade turnover of Tajikistan, including electric energy, has amounted to $775.7 million over the first three months of this year, which was 88.7% of the January-March 2016 level or $98.5 million less, according to the Agency for Statistics under the President of Tajikistan. The trade balance was negative and amounted to $315.5 million.…
According to initial estimates, in January-March Belarus’ gross domestic product totaled Br22.4 billion or 100.3% in comparable prices as against Q1 2016, the National Statistics Committee of Belarus reported.
In January-March the GDP deflator index amounted to 107% as against the same period of last year. (BelTA/Business World Magazine)
The state-owned Ukrgasbank in cooperation with Oxygen Group and ULF Finance has started to issue interest-free loans for the purchase of electric cars, the bank’s press service reported. The loan program is designed for four years. Loans will be issued at an interest rate of 0.001% a year with the first installment of 40% of…
The CEO of PJSC Kyivmetrobud (Kyiv) signed a subcontractor agreement worth UAH 3.962 billion with Turkey’s Limak Insaat Sanayi Ve Ticaret A.S. to complete subway construction in Dnipro. According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, the right to sign the agreement arose…
In March APK-Inform analysts adjusted the forecast supply and demand balances of grains and pulses in Ukraine, and once again lowered the article of domestic consumption of grains in the current season to the level of 25.3 million tons, a decrease of 1% compared with the previous forecast in February, and down by 2% compared…
To minimize impacts of external shocks on its economy Tajikistan plans to develop the industrial sector. “Tajikistan’s economy experiences impact of external shocks and the global economic environment,” Director of the Institute of Economics and Demography of the Academy of Science of Tajikistan, Professor Lutfullo Saidmurodzoda noted at a conference formally titled “Formation of Strategic…
The total net income of the enterprises that are part of Ukroboronprom state concern in 2016 increased by 31.2% YoY, to UAH 28.3 billion, the press service of the state concern has reported. The financial result from operating activities for the year amounted to UAH 2.344 billion. The volume of investments used for production of…
Ukraine and Georgia have agreed on the development of the Baltic Sea – Black Sea – Caspian Sea international transport corridor at the meeting of the joint intergovernmental commission on economic cooperation. Ukraine’s Vice Prime Minister for European and Euro-Atlantic Integration Ivanna Klympush-Tsyntsadze announced this at the briefing. “We agreed to continue cooperation on the…
In January-March Murmansk Sea Fishing Port JSC handled 78,900 tons of cargo, up by 14.5% YoY. The growth was driven mainly by transshipment of oil products. In the reporting period the company handled 37,100 tons of fish products (-9.1%). In March the port handled 30,400 tons of cargo (+39.4%), including 15,400 tons of fish (+…
Tajik and Kyrgyz entrepreneurs have declared their intention to expand cross-border trade. 35 representatives of border communities from Tajikistan’s Isfara district and Kyrgyzstan’s Batken district met in the Tajik northern city of Isfara on April 12, to discuss ways to promote expansion of the cross-border trade between the regions. The meeting organized under support of…
The Belarusian potassium manufacturer Belaruskali intends to start making a new kind of fertilizers using Chinese technologies, Ivan Golovaty, Belaruskali Director General, member of the International Affairs and National Security Commission of the Council of the Republic of the National Assembly of Belarus, declared. The executive said that Belaruskali was considering a number of investment…
The price of natural gas bought by NJSC Naftogaz Ukrainy from European suppliers, which is to be delivered in May, is $25-30 per 1,000 cubic meters lower than the price stipulated in the contract with Gazprom, Naftogaz Chief Commercial Officer Yuriy Vitrenko said. “We’ve completed buying planned volumes of imported gas in May. It is…
Latvia should watch out for the so-called Estonian model’s introduction in the country’s tax system, says World Bank senior economist Emilija Skroka. World Bank experts are skeptical about this idea. Skroka arrived in Riga for the presentation of the World Bank’s report on Latvia’s tax policy. It was previously mentioned that Latvia’s Finance Ministry plans…
The increase in money supply in circulation is one of the factors accelerating inflation processes in Tajikistan, says The Macroeconomic Review prepared by the Chief Economist Group at the Eurasian Development Bank (EDB). Money supply in circulation in Tajikistan has reportedly increased by 62%. This factor has also strengthened pressure on the exchange rate in…
The board of the National Bank of Ukraine (NBU) has decided to reduce the refinancing rate from April 14, to 13% per annum from 14% per annum introduced on October 28, 2016. “The restoration of the mitigation of the monetary policy is in line with the necessity of achieving inflation targets in 2017-2019 and would…
The Delegation of the European Union (EU) to Ukraine has highlighted the importance and urgency of the adoption of the electricity market bill debated in the Verkhovna Rada. “This would be a key step towards a competitive and open electricity market in Ukraine, bringing it closer to the way how the electricity markets operate in…
This year the average salary in Ukraine grew by 35% and the actual incomes of citizens – by 20%, Prime Minister of Ukraine Volodymyr Groysman stated during a meeting of the parliamentary committee on April 12. “This year the average salary grew by 35%, while inflation persisted at moderate rates. The actual incomes grew by…
Saeima speaker Inara Murniece hopes charter flights between Latvia and China will commence next year. “It would be a major impulse for economic development and tourism. Latvia and China have established a good political dialogue, and we are prepared for more active cooperation in trade, investments and transport fields,” Murniece said on April 12, during…