Fitch Ratings has assigned Kernel Holding S.A.’s planned benchmark USD unsecured eurobond an expected rating of ‘B+(EXP)’, Fitch said in a press release. Fitch Ratings has placed Kernel’s Long-Term Local-Currency (LC) and Foreign-Currency (FC) Issuer Default Ratings (IDRs) on Rating Watch Positive (RWP). The final ratings of the bonds are contingent upon receipt of final…Details
A customs experiment introduced by the government of Ukraine in September 2015 allowed in 2015-2016 to collect an additional UAH 2.8 billion to local budgets for road infrastructure repairs, of which nearly UAH 1.5 billion was spent on road repairs and construction. According to the press service of the State Agency of Automobile Roads of…Details
Infrastructure Minister of Ukraine Volodymyr Omelian says that more low cost airlines would operate in Ukraine in 2017. “As to the low cost airlines – this year they definitely will operate in Ukraine. This year Wizz Air will perform even more flights than it previously performed. It has significantly expanded routes from Ukraine,” Omelian said.…Details
Gas stocks in Ukraine’s underground storage facilities declined by 25% or 3.677 billion cubic meters to 11.055 billion cubic meters since October 13, 2016 when the current heating season began, through January 14. Ukraine withdrew 52.84 million cubic meters from underground storage on January 14, and a total of 930.98 cubic meters on January 1…Details
The President of Uzbekistan Shavkat Mirziyoev had marked the main task of 2017 during his speech at the Cabinet of Ministers’ expanded session. “We have to ensure the export of products in the amount of $10.8 billion”, said the head of state and defined the tasks needed to be solved. The first task – within…Details
Amendments to the Tax Code of Kyrgyzstan, aimed at developing production of perfumes and cosmetic products, were submitted to Parliament for consideration. The deputies note that a lot of herbs and plants, which are used in perfumery and are of very good quality as they are growing in the mountains, clean area, grow in the…Details
Central Asia’s biggest industrial complex with an annual capacity of 1.4 million tons of potash fertilizer is being built in an area exceeding one hundred hectares in Turkmenistan’s Lebap Province. The ore-dressing and processing enterprise will be put into operation in late March. Currently, preparation is being carried out in the industrial area to launch…Details
GDP growth rate in Turkmenistan was maintained at 6.2% in 2016, the country’s Ministry of Economy and Development said. The growth rate has increased by 1.2% in the industrial sector, by 4.4% in construction, by 10.5% in transportation and communication sector, by 14.3% in trade, by 11.6% in agriculture and by 10% in the sphere…Details
Ukraine: Naftogaz signs contract with Covington & Burling to accompany Crimea loss lawsuit against Russia
National joint-stock company Naftogaz Ukrainy on January 11, signed a contract valued at $6.31 million with Covington & Burling LLP (New York, the United States). The company will represent the interest of the Ukrainian company in arbitration against Russia under a claim to refund losses over the annexation of Crimea by Russia. Naftogaz said in…Details
Kazakhstan’s trade turnover with the Eurasian Economic Union (EAEU) amounted to $11.95 billion in January-November 2016, down by 21.1% YoY, Kazakh Statistics Committee said. Kazakhstan’s exports to fellow EAEU countries decreased by 26.8% to $3.48 billion in this period, while imports were down by 18.5% hitting $8.47 billion, said the committee. A lion’s share –…Details
Grain harvest in Ukraine 2016 has broken a record being 66 million tons (in standard weight), up by 5.9 million tons YoY. Ukraine’s Agricultural Policy and Food Ministry reported that in 2016 grain yield records were hit: wheat – 42.1 hundredweights per ha, rye – 27.3 hundredweights per ha, corn – 66 hundredweights per ha…Details
PC Bank (People’s Capital Bank, Kyiv) with largest shareholders as of early December 2016 Russian citizen Valery Makarenko (14.24%), Svitlana Ostapenko (9.84%), Ruslan Parkhomenko (9.68%), Oleksiy Yaroshenko (9.07%), Oleksandr Voroniak (8.6%) and Oleh Lutsky (8.07%) could be liquidated under an initiative of its owners. The issue was put on the agenda of an extraordinary general…Details
Production of all groats in Ukraine increased by 0.4% YoY to 298.8 KMT in the eleven months of 2016. The most considerable hikes in groats output were registered in Kirovohrad region – by 48% to 7.1 KMT, Kherson region – by 34% to 18.1 KMT, Odessa region – by 27% to 34.9 KMT, Khmelnytsky region…Details
In January-December 2016 Ukrainian seaport of Illichivsk handled 15,942,000 tons of cargo (down by 7.9% YoY), says the port authority. Private port operators handled 9.363 million tons of cargo (58.7% of total turnover) including 6.127 million tons of cargo handled at the terminals of Ukrainian Sea Ports Authority (38.4% of total volume). Transshipment of export…Details
French-based Engie (formerly GDF Suez SA) from January 1, started natural gas imports to Ukraine, supplying 3.9 million cubic meters to the Ukrainian gas transportation system (GTS) in the first days of the month, the public relations department of PJSC Ukrtransgaz has said. “According to the report of Engie, the daily volume of gas supplies…Details
The mission of the International Monetary Fund (IMF) could in the coming weeks recommend the executive board to hold the third revision of the EFF program, IMF spokesperson Gerry Rice has reported. “I don’t have the exact date of the meeting, but we expect it to be soon, in the coming weeks. And let me…Details
Gas stock in Ukraine’s underground gas storage facilities (UGS), according to Naftogaz Ukrainy’s estimates, as of the beginning of March will amount to about 8 billion cubic meters, the press service of the Cabinet of Ministers has said. According to its report, Naftogaz provided relevant data at a meeting on the issue of providing the…Details
The commercial effect from the projects to be implemented in the R&D park Belbiograd is supposed to reach $500 million by 2023, Deputy Chairman of the Presidium of the National Academy of Sciences of Belarus (NASB) Sergei Kilin reported. The official said that 26 projects had been fleshed out so far. By 2023 the projects…Details
On January 18-22, Spain will host the 37th International Tourism Fair FITUR-2017. This is the first and major tourism event of 2017. Last year some 9,500 organizations, firms and associations of the tourism industry from 165 countries attended the fair. 125 thousand specialists and 97 thousand visitors took part in it. This year the national…Details
Azerbaijan Airlines (AZAL) stopped its flights on the Baku-Ganja route on January 9, the company’s press reported.
The press service said it was economically inefficient to carry out these flights.
The Baku-Ganja flights were carried out daily using Embraer aircraft. Ticket prices started from 30 manats. (Trend/Business World Magazine)
Turkmenistan has finalized the preparation of the technical assignment for the creation of the next (second) national satellite, the functions of which will include Earth remote sensing. TurkmenAlem 52E, Turkmenistan’s first telecommunications satellite, was launched on April 28, 2015 from Cape Canaveral (Florida, US). It was brought to the space by Falcon 9 v1.1 carrier…Details
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In 2016 Naftogazvydobuvannya operated by DTEK Naftogaz produced 1,630,800,000 cubic meters of natural gas, up by 25% YoY. The company also extracted 56,100 tons of gas condensate, up by 24% YoY. The increased gas and gas condensate output came from the completed drilling and commissioning of three wells at Semirenkivske gas and condensate field, which…Details
Early January weather in Ukraine featured alternating warm and cold air masses that in turn led to contrasting temperatures. The average air temperature all over Ukraine was within a range from +0.2 C to -3.1 degrees C. Precipitation rates were within 0-4 mm. Winter crops were covered with 1 to 15 cm of snow. Temperatures…Details
The assets of Ukraine’s banking system by the end of 2017 will amount to UAH 1.5-1.6 trillion (as of October 1, 2016 some UAH 1.27 trillion), while the number of banks will not exceed 75-80 against 95 currently operating, former deputy head of the National Bank of Ukraine (NBU) Vladyslav Rashkovan forecasts. “It remains to…Details
MP Serhiy Taruta has said that the decision of the board of the National Bank of Ukraine (NBU) to put Platinum Bank on the list of insolvent banks could be considered as political bankruptcy of Ukrainian President Petro Poroshenko. “The president could not have been unaware thatNBU Governor Valeriya Gontareva was withdrawing money via Platinum…Details
Ukraine’s State Service for Food Safety and Consumer Rights Protection in the past several days received confirmation of African swine fever (ASF) diagnosed during the examination of the selected samples of biological material of pigs that died in Mykolaiv, Luhansk, Kirovohrad and Odessa regions. The press service reported that 56 pigs died in Chapayev LLC…Details