A single electricity market will begin operating in Kazakhstan, starting from January 1, 2019. Electricity trading is planned on the basis of centralized site of the Committee for Regulation of the Natural Monopolies, Protection of Competition and Consumer Rights under the National Economy Ministry. This was stated by the head of the department Kanat Bozumbayev.…
In 2016, the profit of the National Bank decreased by 42.3% YoY. The Audit Chamber reported on the results of the bank audit last year. As of December 31, 2016, 50 accounts of the Central Treasury of the Ministry of Finance of the Kyrgyz Republic were opened in the National Bank. 32 of them were…
A new building of Rysgal commercial bank – Turkmenistan’s first bank created by private entrepreneurs – opened in Ashgabat. The private credit organization created by entrepreneurs gives a new impetus to developing the private sector of the Turkmen economy. In late March, the International Monetary Fund (IMF) said Turkmenistan needed to improve the business and…
The aquaculture safety project is funded by the government of Norway and is implemented in partnership with the Agrarian Policy and Food Ministry of Ukraine and covers legislative support in fisheries, as well as access to international market, the press service of the Food and Agriculture Organization (FAO) reported. “The project implementation will contribute to…
The deficit of Ukraine’s foreign trade in commodities was estimated at $1.7 billion in January-May, up 1.8-fold YoY, according to the Ukrainian State Statistics Service’s website. Exports of goods from Ukraine over the period under review grew by 25.9% YoY, while imports of goods rose by 28.6%, the service said in a statement. The ratio…
This year has seen an increase in demand for consumer loans – EUR 9.3 million was provided to clients in the first half-year of 2017, up by 15% YoY, as reported by SEB Bank representatives. “According to SEB Bank’s data in summer months residents more actively use loans to purchase cars, perform home repairs, travel…
The National Bank of Kazakhstan is maintaining the base rate at 10.5%. “The National Bank of the Republic of Kazakhstan has decided to keep up the base rate at the level of 10.5% within +/- 1% corridor. The annual inflation level is consistent with the forecasts made by the National Bank and remains within the…
As of July 1, the registered carry-over stocks of oilseeds in Kazakhstan totaled 384.94 thousand tons, including 39.54 thousand tons at farming households, the Statistics Committee of the Ministry of National Economy of the Republic of Kazakhstan declared. In particular, sunflower seed stocks totaled 208.79 thousand tons, soybeans – 35.68 thousand tons, safflower seed –…
In the next three years, EUR 20 million will be invested in the new Laima manufacturing plant in Adazi, as reported by representatives of Orkla Confectionery & Snacks Latvija. The total area of the new manufacturing plant will be approximately 6,500 square meters. “The location chosen for the new plant will secure Orkla Confectionery &…
The total debt of largest Ukrainian insolvent banks and their owners to the state and depositors amounts to at least UAH 144.5 billion. This data has been provided by the National Bank of Ukraine (NBU) and the Deposit Guarantee Fund. “Among the largest debtors are the following financial institutions: Delta Bank (with a total debt…
Belarus needs to intensify its accession to the World Trade Organization (WTO), Belarus’ Minister of Foreign Affairs Vladimir Makei said. “We need to remove as many barriers as we can in advancing our products to all the markets. We need to intensify (and we have been working hard) on our country’s accession to the World…
A large delegation from Saudi Arabia, which will include representatives of both, state structures and the private sector, plans to visit Azerbaijan in October. Azerbaijan and Saudi Arabia enjoy successful cooperation in a number of areas and have fruitful bilateral cooperation within international organizations. During the upcoming meeting of the intergovernmental commission on trade and…
A new micro-district will soon appear in ancient Turkestan. According to the regional administration, in recent years the authorities adopted a number of comprehensive projects in order to further the development of the city. And in order to meet the needs of 30,000 citizens in housing and land, the new Otyrar micro-district is being built…
Kyrgyzstan and Uzbekistan intend to operate new flights to Issyk-Kul. This issue was discussed in Tashkent by officials of the aviation services of two countries. According to the Ministry of Transport and Roads of the Kyrgyz Republic, there is an intention to increase the number of flights from Tashkent and possibly other cities of the…
Ukraine will fully execute the contract signed in 2011 for the supply to Thailand of new Oplot-T tracked armored vehicles manufactured at Malyshev Plant (Kharkiv), Ukroboronprom state concern has stated. “The contract will be executed in accordance with all the agreements provided. The executor of this order and the manufacturer of Oplot tanks is Malyshev…
Production of motor vehicles in Ukraine rose by 72.8% YoY in January-June, to 3,621 units, according to the Ukrautoprom Association. In particular, production of passenger cars grew by 88.3%, to 3,078 units, while the output of commercial vehicles shrank by 49.3% YoY, to 206 units. At the same time, the number of buses produced over…
The inflation rate in Belarus can be reduced to 5% in the near future, Economy Minister Vladimir Zinovsky reported. “The inflation target for 2017 is under 9%. However, the consumer price index rose at a slower pace, which gives reason to expect the inflation to trend around 7%. The most important thing is to make…
Belarus’ GDP is projected to increase by 1-1.1% in H1 2017, Economy Minister Vladimir Zinovsky reported. “The statistics are not available yet but we know the figures for some sectors. The manufacturing industry has fared well. Due to the bad weather we have not been able to crop the first harvest of forage crops as…
The transactions on purchase and sale of foreign currency between the authorized banks and their clients were carried out at the average exchange rate fixed in interbank trading sessions held in Uzbekistan during the previous week. By its resolution the Uzbek government abolished this procedure. According to the decision of the country’s Cabinet of Ministers,…
The Port of Odessa says its throughput in January-June totaled 12.24 million tons, up by 5% YoY. In the reporting period the port handled 4,336,000 tons of grain (+12.3%), 252,570 TEUs of containerized cargo (+9.9%), 1,169,600 tons of liquid bulk cargo (+36.7%), and 2,715,300 tons of ferrous metal (against 3,132,900 tons in H1 2016). In…
Boryspil International Airport is resuming negotiations with the Irish low-cost airline Ryanair in a new format, the airport’s director general, Pavlo Riabikin, has reported on Facebook. “I have met with representatives of the country’s leading television media. Such interaction with journalists helped deeply consider urgent issues without unnecessary emotions. I’m confident that we managed to…
In accordance with the Decree of the President of Uzbekistan dated February 14 “On measures for implementation of the Program for development of regional road in 2017-2018”, in January-June the road workers of the republic repaired 2757,8 km of inter-farm rural roads, city streets, urban villages, kishlaks and auls. This is 4 times more than…
The prices of consumer goods and tariffs for services decreased by 1% in Azerbaijan in June compared to May, the country’s State Statistics Committee said. The prices of foodstuffs decreased by 2.5% during the reporting period, while the prices of non-food items and paid services increased by 0.1%. The prices of consumer goods and tariffs…
Transit of Russian natural gas through Ukraine’s gas transportation system (GTS) has fallen by 24.7% since July 11, according to live data from Ukrtransgaz. If on July 1-10 the average daily transit through the Ukrainian GTS amounted to 256.7 million cubic meters, on July 11 a drop to 193.4 million cubic meters was witnessed. At…
Ukrainian Prime Minister Volodymyr Groysman believes that during the negotiations with the largest low cost airline in Europe Ryanair (Ireland) Ukraine should offer the airline not to quit plans to fly to Lviv. “I think that it is appropriate to make an offer during the negotiations that they are left in Lviv, as the local…
According to the Ministry of Agrarian Policy and Food, since the beginning of the new season-2017-2018 and as of July 12 Ukraine supplied 575 thousand tons of grain crops to foreign markets. In particular, the exports of wheat totaled 150 thousand tons, barley – 75 thousand tons, and corn – 350 thousand tons. In addition,…
The Ministry of Economy proposes to raise the excise tax on all alcohol in Kyrgyzstan by 10 soms. The ministry submitted the draft government resolution for discussion. The background statement to the document says that excise tax rates for wine stock, wine, cognac and sparkling wine remained unchanged since March 2013, beer – since June…
Total volume of capital of Azerbaijan’s banking sector amounted to almost 2.76 billion manats in January-May, according to a banking sector outlook of the Financial Market Supervisory Authority (FIMSA). Total capital volume of Azerbaijani banks has increased by 44.5% since early 2017. By late May, the sector’s total assets amounted to 30.1 billion manats as…