Restructuring of Azerbaijan’s financial sector may be completed by the end of 2016, Rufat Aslanli, chairman of the board of directors at the country’s Financial Market Supervisory Authorit, said. “Currently, we aim at completing the restructuring process in the country’s financial sector”, he said. “I think we will be able to complete it until late…
DetailsPrivatization of Azerbaijan’s large state enterprises, including state oil company SOCAR, requires time and such issues must not be hurried, Rafig Jalilov, deputy chairman of Azerbaijan’s State Committee on Property Issues, said. “It is needed to be consistent in such issues, since the privatization of large enterprises touches the issues of Azerbaijan’s economic independence”, Jalilov…
DetailsInternational reserves of the National Bank of Ukraine (NBU) are projected to increase to $17.5 billion by the end of 2016, if Ukraine receives a credit totaling 600 million euros from the European Union and a credit totaling $1.3 billion from the International Monetary Fund (IMF). NBU Governor Valeria Gontareva stated this at a press…
DetailsConstruction of a railway bridge across the Astarachay river at the border of Azerbaijan and Iran as part of the North-South Transport Corridor will be completed in December, Javid Gurbanov, head of Azerbaijan Railways, reported. Gurbanov said the 8.3-kilometer section of the railway from the Astara Station to the bridge at the border with Iran…
DetailsA passenger train will be launched between Azerbaijan’s Nakhchivan and Iran’s Mashhad before late November, Javid Gurbanov, head of Azerbaijan Railways CJSC, reported. Gurbanov said the train would start running either on November 27 or November 30. The Nakhchivan-Julfa-Tabriz-Tehran-Mashhad passenger train will run twice a week. Renewed cars will be used for the trips. (Trend/Business…
DetailsAzerbaijan Airlines (AZAL) announced a new campaign for flights on the route from Baku to Tel Aviv. When buying from December 1 to 20, an air ticket for the flights on Baku-Tel-Aviv-Baku route in the period from January 10 to March 10, 2017 will cost 299 euro. The cost includes all taxes and fees. The…
DetailsThe trade turnover between Ukraine and the EU increased by 6% YoY in January-September 2016 as a result of the Free Trade Area Agreement, which came into effect on January 1, 2016. This is reported by the Economic Development and Trade Ministry of Ukraine on its Facebook page. “The European Union is Ukraine’s main trading…
DetailsAstarta exported 115 KMT of soybean crushing products in January-September that is almost 81% of the segment’s sales, the company’s press service reports. Revenues in the soybean crushing segment reached 53 million euro, or 25% of Astarta’s consolidated revenue, up by 36% YoY. In January-September Astarta sold 28 KMT of soybean oil, up by 42%…
DetailsA $2.5 million venture funding program – AID-Venture – has been launched in Belarus, Bel.biz Group reported. The consortium of partners consisting of several companies has won the tender for venture capital ecosystem development in Belarus. Aleinikov & Partners together with a group of companies Bel.biz, venture fund 500 Startups and international educational program for…
DetailsThe Infrastructure Ministry is in talks with the global operator Hutchison Ports, which is ready to enter one of Ukraine’s biggest ports, Infrastructure Minister Volodymyr Omelyan said. According to him, a bill on concession is being drafted now, which is to become a universal law for all the sectors of this industry. Work has been…
DetailsUkraine from January 1, 2017 will become an official member of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) led by the Organization for Economic Cooperation and Development (OECD). Ukraine’s Finance Ministry reported that Minister Oleksandr Danyliuk on November 22, handed a letter to OECD Secretary-General Angel Gurria. This is the final phase…
DetailsThe State Agency of Automobile Roads of Ukraine (Ukravtodor) intends to build a new road, which will connect the M-06 Kyiv-Chop highway with the Hungarian road M-3 Budapest-Nyiregyhaza. According to the press service of the agency, the corresponding decision was made following a joint review of infrastructure on the Ukrainian-Hungarian border. “This will allow combining…
DetailsUkrainian companies, which participated in a trade mission to China, have received first orders from Chinese importers for sugar, pork and sunflower oil deliveries. The press service of the Ukrainian Food Export Board (UFEB) reports this citing UFEB Chairman Bohdan Shapoval. “We have received the first orders for pork, sugar and sunflower oil. Sunflower oil…
DetailsPort of Riga said October was the most successful month of the year in regards of cargo turnover, as well as the most successful October in the port’s history. The monthly cargo turnover at the port reached 3.54 million tons, up by 18% MoM and by 7% YoY. The largest contribution to the growth of…
DetailsUkraine’s grain output will increase to 64 million metric tons in the 2016-2017 season, the largest grain harvest since the country gained independence in 1991, Agriculture Minister Taras Kutoviy said. Ukraine produced 60.3 million metric tons of grain in the 2015-2016 marketing season, according to the ministry. The latest forecast is a revision of the…
DetailsIn January-October transportation of passengers by water transport in Ukraine totaled 400,000 passengers (-22.4%, YoY).
According to the State Statistics Committee of Ukraine, total passenger turnover in Ukraine fell by 6.6% to 4.02 million passengers.
In 2015, water transport of Ukraine carried 0.6 million passengers (-3.3%, YoY). (Portnews/Business World Magazine)
The National Bank of Ukraine (NBU) has made an exception of the general rules of controlling the rates of foreign credits of loans if resident borrowers (both companies and financial institutions) raise funds from nonresident creditors with the participation of export-credit agencies. “This step would expand opportunities for residents’ access to foreign credit resources provided…
DetailsAccording to the Agency of Statistics of the Republic of Kazakhstan, in October the production volumes of flour from grains and other plant crops reached the record figures – 388.4 thousand tons. In particular, Kazakhstan increased the production due to growing of the production volumes of wheat flour: in October the figure totaled 359.1 thousand…
DetailsSince the beginning of 2016/2017 MY, Ukraine exported 16.8 million tons of grains, the Ministry of Agrarian Policy and Food of Ukraine declared, referring to the State Fiscal Service of Ukraine. In particular, wheat exports totaled 9.5 million tons, corn – 3.2 million tons, and barley – nearly 4 million tons. Also, wheat flour exports…
DetailsA wind farm worth around 3 million euro will be built in Grodno region near Zelva in the framework of an investment agreement signed between Grodno region administration and Zilant Ltd. A 5 mW wind farm will be built on a land plot of 1.7 ha. Belarus has chosen 22 suitable locations, where up to…
DetailsIn January-October water transport of Ukraine carried 5.5 million tons of cargo (-0.2%, YoY), says State Statistics Committee of Ukraine. Cargo turnover decreased by 28% to 3,279.1 million ton-km. The increase was registered in all transport sectors, except the railway transport (down by 1.3% to 285 million tons). All types of transport carried 511.5 million…
DetailsAccording to the Bulgarian Ministry of Agriculture, as of November 10, winter wheat had been sown at 901.2 thousand ha. The pace of sowing is 3.9% less than in 2015. As of the same date in 2015 winter wheat had been sown at 937.3 thousand ha. The pace of winter barley sowing is 26.5% behind.…
DetailsUkraine exported roughly 2058 KMT of wheat in October down from 2068.5 KMT in October 2015. For the first four months of 2016/2017, Ukrainian wheat exports increased by 9.1% YoY to 8235.8 KMT against 7548.8 KMT in July-October 2015/2016. The period under review saw substantially higher deliveries to the markets of Bangladesh, Indonesia, Philippines, Libya,…
DetailsBelarus’ mineral fertilizer manufacturer Belaruskali (Soligorsk, Minsk region) says it has doubled the production of NPK fertilizers in 2016. Belaruskali’s NPK fertilizer facility increased output from 5-6 thousand tons a month in 2015 to 15,000 tons in 2016. Belaruskali managed to increase output after launching new blends of NPK fertilizers and expanding the geography of…
DetailsThe state-owned Belarusian company OAO Belaruskali has announced a tender to purchase 52 electric motors ranging in capacity from 0.25kW to 200kW valued at Br582,750 ($297,900), according a message posted on Belarus’ official procurement web site. The closing date for applications is November 28. Belaruskali will purchase the motors at its own expense and wants…
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