PrivatBank is going to appeal a ruling by Kyiv’s district administrative court, which found it illegal to forcibly swap PrivatBank’s certain obligations for shares of an additional issue by the bank, the so-called bail-in procedure. “The decision of the court of first instance will be appealed by us, and we will prove our position,” PrivatBank…
DetailsBoard Chairman of PJSC Ukzaliznytsia Wojciech Balczun says that UAH 2.5 billion is planned to be invested in Lviv Railways in 2017. Speaking at a press conference in Lviv, Balczun stated that “a portion of these funds will be spent on infrastructure, another portion – on upgrading the rolling stock”. In particular, he noted that…
DetailsIn six years, the trade turnover between Kyrgyzstan and the United Arab Emirates amounted to $520.7 million, the Minister of Economy of the Kyrgyz Republic Arzybek Kozhoshev announced on May 24 at the Kyrgyz-Arab business forum. According to him, Kyrgyzstan attaches special importance to the development of relations with the UAE. Bilateral relations are on…
DetailsIn the first fortnight of May, Ukraine’s retail prices for socially important products increased, namely the prices for the so-called “borsch” vegetables and meat, the Economic Discussion Club reports. “Potatoes and “borsch” vegetables showed a record growth in prices again. Over the first twenty days of May, consumer prices for these products have increased as…
DetailsAs of April 1, Tajikistan’s external debt amounted to $2.2843 billion, $2.1078 billion of which is state debt, according the Ministry of Finance (MoF) Secretariat. Government-guaranteed debts amount to $23.3 million. Debts of state-owned enterprises without government guarantees have reached $31.5 million. The debts of the National Bank of Tajikistan (NBT) now amount to $12.6…
DetailsCompared to March, the level of producer prices in Latvian industry grew by 0.1% in April. The prices of products sold on the domestic market increased by 0.5%, whereas the prices of exported products dropped by 0.2%. The prices of products exported to euro area countries decreased by 0.2% and of products exported to non-euro…
DetailsIn January-April water transport of Ukraine carried 3,000 passengers, down by 3.3% YoY.
According to the State Statistics Committee, total passenger turnover in Ukraine climbed by 0.3%, to 1.540.8 million passengers. (Portnews/Business World Magazine)
The National Bank of the Republic of Belarus (NBRB) plans to ramp up the gold and forex reserves to $8-8.5 billion, First Deputy Chairman of the NBRB Board Taras Nadolny said during the roundtable meeting “Belarus’ Banking Sector: Recovery Round the Corner”. “There is every reason to expect this. We have been making positive interventions…
DetailsSladkaya Strana, a subsidiary of the Belarusian confectionery Vitba, is expanding into the markets of Russia and Ukraine. Pilot batches of biscuits have been sent to the trading networks of these countries, Sladkaya Strana Director Khachatur Arzumanov said. “We are looking for foreign markets. Not long ago we shipped trial batches to the trading networks…
DetailsState-run PrivatBank (Kyiv) has not yet been notified of a lawsuit lodged by eurobond holders with the London Court of International Arbitration (LCIA) against a forced swap of their securities for shares of an additional issue of the bank (the so-called bail-in procedure), Chairman of the bank’s board Oleksandr Shlapak has said. “We have not…
DetailsThe National Bank of Ukraine (NBU) has deleted two companies – Analitic-Partners and Insider – from the registry of audit firms authorized to conduct audit checks at banks in Ukraine, the NBU reported on its website. The regulator says that the decision was taken on the basis of the companies’ applications. At the moment, there…
DetailsThe foreign trade turnover of Tajikistan, including electric energy, amounted to $1.045 billion over the first four months of this year, which was 88.2% of the January-April 2016 level or $140.2 million fewer, according to the Agency for Statistics under the President of Tajikistan. The trade balance was negative and amounted to $540.5 million. Exports…
DetailsThe state debt of Kyrgyzstan grew by $95 million in the first quarter of 2017 and updated the historical maximum, the Ministry of Finance of the Kyrgyz Republic reported. Of March 31, its size was $4,160 billion, or 285,461,89 billion soms. The external debt formed in the amount of $3,803.97 billion (260,978,59 billion soms), and…
DetailsPJSC Ukrzaliznytsia has introduced a ban on transportation of all types of cargo and empty wagons, including transit through the territory of Ukraine, for a number of owner companies from the Russian Federation. According to company decree Ts-2/101 dated May 18, transportation is prohibited in the wagons of Sberbank Leasing, SG Trans, NefteTransService, Freight One,…
DetailsIn Q1 the Latvian unemployment rate constituted 9.4%. Compared to the previous quarter, the unemployment rate increased by 0.1%, whereas, compared to the same period of the year before, the rate reduced by 0.9%. In Q1 91.3 thousand people aged 15-74 were unemployed, which is 10.3 thousand fewer than a year ago and 0.5 thousand…
DetailsThe micro-enterprise tax has created serious defects for Latvia’s tax system, said Fiscal Discipline Council chairman Janis Platais. “It has caused very serious defects to our tax system. It suffocates growth. It acts against the tax neutrality principle, when taxes should not stimulate one or the other form of business,” Platais said. He believes Latvia…
DetailsRetail trade in Ukraine rose by 5.8% YoY in January-April in comparable prices, to UAH 226.749 billion, or $8.6 billion, according to the State Statistics Service’s website. Retail turnover increased the most in Kirovohrad region (by 9.3%, to UAH 4.37 billion), Lviv region (by 9.2%, to UAH 13.1 billion), Poltava region (by 8.4%, to UAH…
DetailsJSC RBK Bank announced the intention to merge with JSC Qazaq Banki. “Shareholders of JSC Bank RBK and JSC Qazaq Banki are negotiating the merger of the two institutions. In the near future the banks are expected to sign a memorandum of understanding, which will become the starting point for the merger,” the KASE report…
DetailsThe Dushanbe mayor’s office is taking efforts to curb rise in prices of basic food products during the Islamic holy month of Ramadan, according to the Dushanbe administration press center. By Dushanbe mayor’s decree merchants and farmers selling their products at Dushanbe’s Dehqon, Shohmansour and Sakhovat bazaars will be exempt from paying one-time fee, a…
DetailsThe implementation of the Sustainable Development Doctrine will allow Ukraine to achieve the level of Western countries by 2030 and ensure an annual growth of 10%, Ukrainian parliamentarian Serhiy Taruta said while presenting the publication titled “Ukraine 2030: The Doctrine of Sustainable Development.” The parliamentarian who is the author of the idea of writing the…
DetailsThe average price for agricultural products set by Ukraine’s farmers in January-April increased by 11% YoY, the State Statistics Service reports. Prices for plant products in the reporting period rose by 8.5%, while those of livestock products went up by 23.4%, according to the report. In April against March, agricultural products grew in price by…
DetailsThe European Union-funded project, Technical Assistance to Support Pension Reform in Tajikistan, was launched in Dushanbe. According to the European Union Delegation to Tajikistan, the project will run for over three years (until January 2020) and will provide support to the Agency for Social Insurance and Pensions (ASIP) in the areas of Information and Communications…
DetailsRetail trade in Ukraine in January-Apri posted a 5.8% increase YoY, according to the State Statistics Service of Ukraine. The highest increase in retail trade was recorded in Kirovohrad, Lviv, Poltava, Odessa, and Zhytomyr regions. In particular, Kirovohrad region saw a 9.3% increase, Lviv region boosted retail trade by 9.2%. Retail growth in Poltava region…
DetailsThe territory of Dushanbe will be extended from the current 12,700 hectares to 25,000 hectares by 2040 at the expense of territories of Varzob, Hisor and Roudaki districts. Government’s decree approving the Dushanbe municipal redevelopment plan was reportedly signed on April 28. Dushanbe’s population is expected to reach 936,000 by 2025 and 1.176 million by…
DetailsUzbekistan’s state power company Uzbekenergo and Turkmenistan’s Ministry of Energy signed a memorandum envisioning cooperation in the transit of electricity from Turkmenistan to Kazakhstan and Kyrgyzstan through Uzbekistan’s power grid. The memorandum was signed during Uzbek president’s working visit to Turkmenistan. Under the terms of the memorandum, Turkmenistan will deliver electricity to Uzbekistan in exchange…
DetailsThe State Committee for Industry, Energy and Subsoil Use of the Kyrgyz Republic announced a tender for the right to build small hydro power plants. Legal entities of Kyrgyzstan, as well as foreign legal entities can participate in the tender. In case a foreign legal entity is chosen the winner of the tender (prior to…
DetailsInspecting an advertisement published on Facebook, Latvian Food and Veterinary Service uncovered illegal trade of sheep meat, canned meat storage and meat product distribution organized in an office building on Selpils Street, Riga. Upon performing a control purchase, inspectors found that tins with meat were either not labeled or improperly labeled, making it impossible to…
DetailsKyiv City Administration has signed a memorandum of cooperation with a Chinese consortium, consisting of China Railway International Group and China Pacific Construction Group, for the implementation of a project to build the fourth subway line in the city. According to a posting on the administration’s website, Deputy Head of Kyiv City Administration Mykola Povoroznik…
Details