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…
DetailsUkraine 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…
DetailsKazakhstan 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…
DetailsIn 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…
DetailsTurkmenistan 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,…
DetailsAs part of the state administration reform, job cuts are planned for 58,000 employees of different institutions. This does not apply to independent institutions such as the prosecutor’s office, Saeima, State Audit and Supreme Court. The number of officials employed in Latvian state administration is higher than the average in the EU, as concluded in…
DetailsThe state enterprise Iskra Scientific and Production Complex (Zaporizhia) is expanding production of new electronic reconnaissance and radioelectronic warfare devices for the Ukrainian Armed Forces, the press service of State Concern Ukroboronprom has reported. “Taking into account the need of the Armed Forces in radioelectronic warfare devices, Iskra has started production of new military equipment…
DetailsSince the beginning of a new season-2017-2018, and as of July 27, Ukraine supplied 2.003 million tons of grain crops to foreign markets, the Ministry of Agrarian Policy and Food reported. In particular, the exports of wheat totaled 631 thousand tons, barley – 601 thousand tons, corn – 770 thousand tons, and other grains –…
DetailsBelarusian farmers intend to harvest about 1 million tons of potatoes in 2017, Tatiana Karbanovich, Deputy Head of the Central Office for Crop Farming, Head of the Fruit and Vegetables Department at the Belarusian Agriculture and Food Ministry, reported. According to the source, Belarusian agricultural companies and individual farmers are expected to gather in about…
DetailsCompared to June 2016, total retail trade turnover rose by 3.1% in June 2017. Turnover of retail trade for food products increased by 1% and turnover of non-food products grew by 4.7%. The most significant growth in turnover in the non-food product group was recorded in retail sale of cultural and recreation goods (by 23.7%),…
DetailsIn January-June Tajikistan imported 26.6 thousand tons of flour valued at $265/ton, down by 23.3 thousand tons or by 46.7% YoY, the Head of the Antimonopoly service at the government of Tajikistan, Saadi Kodirzoda reported. In the first half year of 2017 domestic companies produced 313.2 thousand tons of flour, up by 88.9 thousand tons,…
DetailsThe state-owned enterprise Boryspil International Airport (Kyiv), the largest airport of the country, saw a 77.7% YoY rise in net profit in January-June, to UAH 951.2 million. According to a financial report of the airport, its net revenue in January-June grew by 30%, to UAH 1.87 billion. As reported, the financial plan of the airport…
DetailsCompared to May, the level of construction costs in Latvia increased by 0.2% in June. Labor remuneration of workers rose by 0.4%, prices of building materials grew by 0.2%, whereas maintenance and operational costs of machinery and equipment increased by 0.1%, according to data from the Central Statistical Bureau of Latvia. Compared to June 2016,…
DetailsThe first freight train Ganzhou – Kazakhstan set off on the route China-Europe on July 27. Its arrival in Kazakhstan is expected in 12 days. It is reported that the train carries 100 containers of furniture, clothing and electronic goods. Currently, three freight railway routes to Central Asia – Kyrgyzstan, Uzbekistan and Kazakhstan – have…
DetailsHualin hotel will be built on Victory square instead of Naryn restaurant, municipal enterprise Bishkekglavarhitektura reported. The agenda of the next town council meeting includes consideration of the project on the construction of Hualin hotel instead of the former restaurant Naryn at the intersection of Ibraimova and Frunze Streets. De He Co LTD together with…
DetailsClaims filed by Ukraine International Airlines (UIA) to court do not concern the operation of Ireland’s low cost airline Ryanair in Ukraine or any obstacles to their operations, but they concern the discriminative conditions towards other airlines, UIA President Yuriy Miroshnykov declared at a press conference in Kyiv. Managing partner of Ecovis Bondar and Bondar…
DetailsThe European Investment Bank (EIB) is considering the issue of a EUR 130 million to Ukrenergo for modernization of substations, according to the website of the financial institution. The EIB said the project was aimed at improving energy efficiency, reliability of equipment, reducing operating costs. Its implementation will contribute to the integration of Ukraine’s energy…
DetailsBelGee is expected to launch the production of various auto parts on time to make sure that the rate of localization is not less than 50%, Belarus’ Economy Minister Vladimir Zinovsky said during a visiting government session in Borisov district. “The second task is to launch the production of various auto parts right on schedule.…
DetailsIn January-June the Ukrainian seaports processed 66.3 million tons of cargoes, up by 5% YoY, the State Enterprise Ukrainian Sea Ports Authority (USPA) declared. In particular, the export cargoes transshipment in the Ukrainian seaports reached 50.9 million tons (up by 5.4%), and import cargoes – 9.4 million tons (up by 17.6%). Traditionally, the transshipment of…
DetailsFarmers Saeima believes Latvia’s beef industry is not sufficiently developed, and existing farms have not been sufficiently stabilized – many farms have major debt. Because of that any kind of support for the industry is welcome. Considering the recently voiced information about the possible reduction of voluntary support for livestock in 2017, the Farmers Saeima…
DetailsBelarus’ rail freight volume for the first half of 2017 increased to 68.442 million tons, by 14.9% YoY, Belarusian Railways reported. Rail freight for export reached 25.97 million tons, up by 7.5% YoY. Transit traffic volume amounted to 19.272 million tons, which makes up for a 24.5% increase. In January-June Belarusian Railways secured the loading…
DetailsAzerbaijani President Ilham Aliyev has signed an order to provide funding for the construction of a road in Barda.
Under the presidential order, AZN 6.8 million is allocated from the Presidential Contingency Fund for the construction of Yeni Dashkend-Umudalilar road connecting 17 residential areas with the population of 15,000 people. (AzerNews/Business World Magazine)
The consolidated index of production of goods and services in Ukraine in January-June rose by 2.2%, GDP growth is estimated at 2.5% plus or minus 0.3%, according to data released by the Ministry of Economic Development and Trade. The ministry said the increased consumer and investment demand amidst the improved business and consumer sentiment, as…
DetailsUkrainian nuclear power plants (NPPs) produced 210.36 million kWh of electricity on July 25, the press-service of Ukraine’s State Enterprise “National Nuclear Energy Generating Company Energoatom” reports. On July 26, 11 out of 15 power units were functioning at the Ukrainian power plants. It was the 161st day of the average planned repair at power…
DetailsThe pace of sunseed crushing slowed down to some extent in June against the previous month. Consequently, sunoil production by large and medium-sized crushers amounted to 451.4 KMT in June 2016-2017 against 491.2 KMT a month earlier. Monthly output still remains at a record level. In total, Ukraine’s large and medium-sized crushers produced as much…
DetailsLatvian Association of Regions proposes establishing micro-enterprise tax rate at 12% instead of 15%, as well as state that calendar year turnover for micro-enterprises is not to be reduced to EUR 40,000, as it is proposed by the government, but to be kept at the current restriction – under EUR 100,000. Of the 28 proposals…
DetailsThe National Association for Tobacco Product Manufacturers (TIRNA) is confused about Finance Ministry’s submitted proposals for tax reform that provide for raising excise tax on cigarettes by 11% instead of previously planned 5.5%. TIRNA believes the submitted proposals are rushed, economically unjustified and will not secure the economy any major tax income. “Exactly the opposite…
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