The number of transactions using payment cards in 2016 increased by 28% YoY, to 2.513 billion, and their volume – by 30.6%, to UAH 1.61 trillion. According to the website of the National Bank of Ukraine (NBU), the volume of transactions to obtain cash using payment cards rose by 22.5% and amounted to UAH 1.039…
DetailsBelarus has shipped the first batch of dairy products to Syria, Aleksei Bogdanov, the head of the main department for foreign economic affairs at the Agriculture and Food Ministry, said. Ten containers with powdered milk and butter were shipped to Syria in January. “As for Syria, this country has a huge interest in the delivery,…
DetailsAir Astana, the principal airline and the flag carrier of the Republic of Kazakhstan, has announced it will increase weekly frequency from Astana to London. Starting in June the carrier will perform flights on Sundays in addition to existing operations on Mondays, Tuesdays, Thursdays and Saturdays. Flights will be operated on Boeing 757’s. Flight time…
DetailsThe Russian delegation headed by Deputy Chairman of Russian Government Dmitry Kozak attended the eighteenth meeting of the intergovernmental commission on economic cooperation between the two countries in Tashkent. During the meeting the parties exchanged information and discussed issues of implementation of Protocol decisions of the seventeenth IGC meeting, which took place on March 25,…
DetailsA small hydropower plant was launched in Tegirmentin village of Kemin district, Chui region. The HPP with power capacity of 3.1 MW was built in 11 months by “Tegirmentinskaya HPP” company. Its construction cost 215 million soms. As the owner of the company Rakhat Irsaliev reported, they invested 71 million soms and took 144 million…
Details“Works at 2.9 billion soms under the Article “State capital investments” were executed in 2016,” the head of the Ministry of Transport and Roads Zhamshitbek Kalilov said. In 2016 the following roads were constructed: asphalt concrete road topping of Bishkek – Manas Airport (23 km) valued at 978.3 million soms; asphalt concrete road topping of…
DetailsThe European Union has allocated to Kyrgyzstan a grant financial assistance for the development of regions. The agreement was signed in Brussels within the working visit of Almazbek Atambayev. The first tranche of EUR10 million is to be spent on the development of agriculture in Jalal-Abad region. EU will allocate EUR 72 million for 7…
DetailsHigher administrative court of Ukraine upheld the ruling of the court of a lower instance under which the State Fiscal Service of Ukraine is obliged to accept 2 billion cubic meters of natural gas made in 2006 as a tax lien from public joint-stock company Ukrnafta, the company’s press service has reported. “The court ruled…
DetailsIn January-September 2016 the level of the shadow economy in Ukraine totaled 35% of official GDP, down by 5 YoY. This is stated in a report developed by the Ministry of Economic Development and Trade. According to the ministry, the process of de-shadowing became possible due to certain factors: relative macroeconomic stability; business climate improvement…
DetailsThe main task of the Ukrainian government for 2017 is to accelerate economic growth so that people can feel the improvement in the quality of their lives, Prime Minister of Ukraine Volodymyr Groysman stated. “Our task for 2017 is to continue accelerating economic growth. And so the plan for 2017 – a budget we’ve approved…
DetailsThe refinancing rate of the National Bank of the Republic of Belarus (NBRB) was reduced from 17% to 16% per annum on February 15, the NBRB Information and PR Office reported. Apart from that, the interest rate on standing and bilateral operations designed to keep up the current liquidity of Belarusian banks was reduced from…
DetailsClosed Joint-Stock Company Tajprombank (Tajik Joint-Stock Commercial Industrial Bank for Reconstruction and Development), one of Tajikistan’s distressed commercial banks, does not hurry up to pay out savings to its customers. The customers complain that they cannot take their money from the bank, although it received 450 million somoni from the government at the beginning of…
DetailsPresident Emomali Rahmon held a meeting with senior representatives of the Dushanbe administration. The meeting took place at the Kokhi Borbad State Complex and members of the government, parliamentarians, heads of financial institutions as well as representatives of the public and journalists also attended the meeting. The meeting focused on issues related to seeking solution…
DetailsAt least 44.2 million kilowatt-hours of electricity or 11.6% was saved in Bishkek in January, press service of Severelectro JSC reported. According to it, in January, all consumers of Severelectro saved 81.8 million kilowatt-hours of electricity, or 10.1% of the plan. They totally consumed 722.8 million kilowatt-hours. However, it is still 56 million kilowatt-hours more…
DetailsS&P Global Rating (S&P) has assessed the banking system of Ukraine as highest-risk system under its Banking Industry Country Risk Assessment (BICRA), S&P has said in its report. “The economic risk in the Ukrainian banking system remains one of the highest in a global comparison, as reflected in our score of ’10’ (the highest-risk systems),…
DetailsIf Kyrgyzstan hadn’t joined the Eurasian Economic Union, the GDP growth of the country by the end of 2016 would have hardly amounted to more than 0.1%, Vice Prime Minister of Kyrgyzstan Oleg Pankratov said. According to him, integration blocks will play the main role on the world stage in the near future. At the…
DetailsTo neutralize the negative tendency after Kyrgyzstan’s accession to the Eurasian Economic Union, it is needed to switch to e-document management as soon as possible, the head of the Chamber of Tax Consultants Tatyana Kim announced. Tatyana Kim cited as a negative example the large flow of unaccounted goods through the Kyrgyz-Kazakh border. The volume…
DetailsPresident of Kyrgyzstan Almazbek Atambayev signed a law on the introduction of online registration of real estate, Information Policy Department of the President reported. Changes relate to Article 18 of the law and introduce a norm that the local registration authorities also accept applications in online mode in the manner, determined by the government of…
DetailsThe State Service for Combating Economic Crimes (Financial Police) intends to mobilize all resources to fight against the shadow economy, the head of department Zamirbek Osmonov said. According to him, after broadening of powers the service will start revealing shadow schemes, detecting false bankruptcy facts and pseudo-entrepreneurship, and fighting against smuggling. 90% of the violations…
DetailsThe initiative of Ukrzaliznytsia to increase the cargo transportation tariffs by rail in 2017 by 25% is unreasonable now, the tariffs should be increased no earlier than summer and the percentage by which they will be increased should be set much lower, the head of the Verkhovna Rada committee on industrial policy and entrepreneurship Viktor…
DetailsNational Nuclear Generating Company Energoatom and General Electric Hitachi, Global Nuclear Fuel will study the prospects of cooperation, the press service of the Ukrainian company has reported. “Energoatom President Yuriy Nedashkovsky, Vice President of General Electric Hitachi in Europe David Powell and Global Nuclear Fuel CEO Amir Vexler held a meeting. At the meeting representatives…
DetailsUkrainian Prime Minister Volodymyr Groysman stated that 2016 was the year of economic recovery, and industry, construction sector, and agriculture showed the best growth rates. “I would like to emphasize that 2016 marked the resumption of growth of Ukrainian economy. We observed progress in all the economy sectors,” Groysman said. He noted that industry, construction…
DetailsUkraine has not been purchasing gas from the Russian Federation for 440 days already, Ukrainian Prime Minister Volodymyr Groysman said at a Cabinet’s meeting.
“We have been living without Russian gas for 440 days already. This is a matter of our energy independence,” Groysman said. (Ukrinform/Business World Magazine)
Aivar Baikenov, the Head of Asset Management Divisionof Kazkom Securities commented on the situation with the exchange rate of Kazakhstani tenge. “Tenge strengthening, in our opinion, is only temporary. It was caused by two factors. The first is a favorable and stable situation on the oil market, where we see, in fact, minimal fluctuations in…
DetailsLast month Tajikistan’s inflation stood at 0.6%, down by 0.8% YoY, according to the National Bank of Tajikistan. The government reportedly expects the year-end inflation for this year to stand at 7%. The year-end inflation for 2016 stood at 6.1%, down by 0.9% from the forecast. Tajik central bank notes that an average monthly inflation…
DetailsIn January, despite the interventions of the National Bank, international reserves of Kyrgyzstan increased by 14 million soms. The data was presented by the National Bank of Kyrgyzstan. At the end of January the volume of reserves formed in the amount of $1,983.07 billion. At the same time, the National Bank held two interventions. It…
DetailsLoans to farmers in Kyrgyzstan in 2017 will amount to 7 billion soms, the Minister of Agriculture, Food and Land Reclamation Nurbek Murashev said. According to him, the processors will have the minimum interest rate. They will be issued loans at 6% per annum. “Loans for the development of animal husbandry and agriculture will be…
DetailsSolvent banks in the fourth quarter of 2016 reduced the debt to the National Bank of Ukraine (NBU) on refinancing loans by UAH 5.058 billion, or by 18%, to UAH 22.995 billion, according to the regulator’s website. According to the NBU, the loan principal on January 1, 2017 amounted to UAH 22.57 billion. “Most of…
DetailsIn 2016 the State Customs Service of the Kyrgyz Republic has collected 29.3 billion soms, its first deputy chairman Altynbek Torutaev said. According to him, in comparison with actual receipts of customs duties from the third countries in 2015, 8.6 billion soms more have been collected, up by 141.3%. Customs payments without fees amounted to…
DetailsExports of agricultural products in Kyrgyzstan in 2017 will amount to 500,000 tons, Deputy Minister of Agriculture, Food and Land Reclamation Erkinbek Choduev said. According to him, it is 50,000 tons more than in 2016. “Basically, we send honey and dried fruit to the European Union, to the EEU countries – vegetables, dairy products,” the…
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