KazMunayGas and Uzbekneftegaz signed a cooperation agreement to jointly develop oil product marketing and logistics, set up crude oil supply to Uzbekistan, and ensure oil transit across Kazakhstan. Uzbekneftegaz also signed a memorandum of understanding with Kazakhstan’s energy ministry to cooperate in oil and gas industry. According to KazMunayGas, KazTransOil pipelines may be reconstructed and…
DetailsHistorically important, Uzbekistan’s silk sector has seen structural reforms since independence, attracting foreign investment, upgrading production techniques, and expanding production. Boasting good natural conditions, Uzbekistan has 80 million plants and 51,000 hectares of plantations, producing 26,000 tons of cocoons. The silk sector has been stunted in recent years by falling demand worldwide and outdated production…
DetailsCenter “Development of Corporate Social Responsibility”, First Ukrainian International Bank and Ukrsibbank BNP Paribas Group signed a memorandum on cooperation in the implementation of the educational project “Your Future in the Banking sector”. Within the framework of the project, a detailed map of banking professions will be developed, a web portal for free access to…
DetailsPublic joint-stock company Ukrzaliznytsia is working on passenger service standards, Director for Passenger Transportation and Services Ihor Romankiv has said. “Any business has standards. The same should be at railways. For example, when asked where the 12th car passenger car is, attendants do not say “there,” but say “this way, passing next car,” he said.…
DetailsAccording to the official statistics figures, during eight months of the season-2016/2017 (July-February) Ukraine exported 308.7 thousand tons of peas, up 1.8-fold and 2.2-fold compared with the same period in 2015/2016 and 2014/2015 MYs – 169 thousand tons and 140 thousand tons respectively. In the current season, India became the main importer of peas from…
DetailsThe National Bank of the Republic of Belarus (NBRB) will reduce the refinancing rate from 15% to 14% per annum on April 19, according to the NBRB Information and PR Office. The Board of the National Bank of the Republic of Belarus took a decision to reduce the refinancing rate from 16% to 15%, the…
DetailsAeroflot passengers flying to and from Male, Bangkok, Phuket and Ho Chi Minh City can now transport a complete set of surfing or diving equipment weighing up to 23 kg for free. Surfing equipment can include a surfboard, set of fins, mountings, wetsuits, hydro shoes and other accessories weighing up to a total of 5…
DetailsIn the course of the working trip to Aktobe region, Prime Minister Bakytzhan Sagintayev acquainted himself with a pilot project on construction of a quickly erectable low-rise credit housing under the Nurly Zhol program. Sagintayev was informed on the course of housing construction in Nur Aktobe micro-district, the peculiarities of the project and the quality…
Details“In 2017, about 55 million out of budgeted 120 million soms were allocated to strengthen the banks and carry out repair works at ten Chu River facilities,” Deputy Minister of Emergency Situations Davletbek Alimbekov said. The Minister of Transport and Roads Zhamshitbek Kalilov said that 11 extremely dangerous areas were detected to prevent emergencies. Bank…
DetailsThe National Bank of Kyrgyzstan sold 151 kg of gold in weighted bullion bars for almost 420 million soms, the Chairman of the NB KR Tolkunbek Abdygulov declared. According to him, the Parliament didn’t support the proposal of the National Bank to abolish customs payments for the import of small gold bars, which would make…
DetailsGarlyk mining and processing plant for the production of potassium fertilizers will be inaugurated on March 31, Turkmen Foreign Ministry said in a message. Equipped with the most advanced technologies, this plant will become the flagship of the Turkmen chemical industry and the largest industrial-production complex in the Asian continent. The fact that its construction…
DetailsState-controlled Oschadbank (Kyiv) has attracted credit resources from the German-Ukrainian Fund (GUF) in the amount of EUR 8 million and UAH 50 million to finance micro, small and medium-sized businesses. According to a bank press release, the parties signed the relevant credit agreements within the framework of the memorandum on strategic partnership and cooperation on…
DetailsSunseed crushing volumes have been shrinking for a second month in a row in the current 2016/2017 season. Ukraine’s large and medium-sized crushers produced 439.2 KMT of sunoil in February, down by 7.7% MoM (475.7 KMT). However, 2016/2017 production continues to be all-time high in terms of both February and seasonal outputs. Sunoil production by…
DetailsBelarus and Turkmenistan are able to raise trade to $1 billion, Ambassador Extraordinary and Plenipotentiary of Belarus to Turkmenistan Oleg Tabanyukhov declared on March 29. “Our embassy should treble our efforts. Our task is to raise the trade to $1 billion. Today we are exploring the ways to accomplish this task,” Oleg Tabanyukhov said. In…
DetailsThe process of inventory of two troubled commercial banks – Tajprombank (Tajik Joint-Stock Commercial Industrial Bank for Reconstruction and Development) and Fononbank – is going on and special administrators appointed by the court say the banks have enough assets to settle with their customers. The banks began paying out savings starting from March 16. The…
DetailsIn 2017, Kherson region is expected to raise investments worth $250 million thanks to building new alternative energy facilities within its area, Kherson Regional State Administration Head Andriy Hordeyev has stated in a report on the administration’s management performance for 2016. “In 2017, thanks to new energy facilities, we expect to reach 250 megawatts of…
DetailsDTEK Naftogaz has announced a tender to select a contractor for drilling four wells at the Semyrenkivske gas condensate field, the company has reported. All wells are slant wells, their depth is 5,500-5,700 meters. The drilling is to be finished in 2017-2019. Bids can be submitted until April 20. The conditions of the offer meet…
DetailsOnce the sale of Sberbank of Russia’s subsidiary in Ukraine is closed, the bank will be renamed Norvik Banka. “The bank will be renamed. By all appearances, its name will be Norvik Banka, because it will be a subsidiary of European bank Norvik Banka,” Russian-born businessman Grigory Guselnikov said. The change in the bank’s brand…
DetailsUkraine exported 2,900 tons of cranberries and bilberries in 2016, up 3.3-fold YoY, Ukraine’s Agricultural Policy and Food Ministry has reported. The largest importers of Ukrainian berries were Poland (1,400 tons), the Netherlands (613 tons) and Belarus (541 tons). In general, exports of cranberries and bilberries brought $6.9 million of currency income last year. The…
DetailsKazakh barley exports turned down again in January. 89.8 KMT of this commodity was shipped for export in January against 148 KMT in January 2016 (down by almost 40%). Thus, Kazakhstan exported 27% less barley in the five months of the current season compared to the same period a year ago (445 KMT against 609…
DetailsIn 2016, the exports of goods from Ukraine totaled $36.4 billion, a decrease of 4.6% compared with 2015 (down by $1.8 billion), the Ministry of Economic Development and Trade of Ukraine reported. According to the announcement, there was a significant slowdown in the rates of exports falling in comparison with the beginning of 2016. In…
DetailsThe first presentation of Belarus compact tractors made at the Bobruisk Plant of Tractor Parts and Units took place at Junction 24, one of the largest livestock markets of the UK Sedgemoor Auction Center. The presentation of Belarusian products was organized by the Banwell-based company Belarus Tractors Ltd. Since 2016, this company has been the…
DetailsA major trade fair of Uzbekistan’s exports, including auto goods and food products, is expected to take place in Dushanbe next month, according to the press center of Tajikistan’s Chamber of Commerce and Industry (CCI). Organized by Tajik and Uzbek CCIs and Uzbek national exhibition company Uzexpocenter under support of the governments of Tajikistan and…
DetailsPresident Shavkat Mirziyoev reviewed the project for expansion of Navoi TPP. The construction of the second steam-gas unit with the capacity of 450 MW will provide Navoi mining and metallurgical works, the joint stock company Navoiazot and consumers of agricultural industry with uninterrupted electricity supply. The project will decrease the consumption of conditional fuel to…
Details47 food industry enterprises of Kyrgyzstan can export their products to the countries of EEU, Director of the State Inspectorate for Veterinary and Phytosanitary Safety Kalysbek Zhumakanov declared on March 28, at a press conference. According to him, favorable epizootic situation and enterprises meeting the standards of EEU are necessary for the export of food…
DetailsThe European Bank for Reconstruction and Development (EBRD) has appointed Ayten Rustamova the bank’s new head of office in Tajikistan, said the message on EBRD’s website. Ayten Rustamova will be based in Dushanbe, where she replaces Richard Jones who has returned to EBRD London headquarters. The EBRD also has a second office in the country,…
DetailsThe National Commission for Energy, Housing and Utilities Services Regulation (NCER) has introduced the entry-exit tariff system for the gas transport system (GTS) from April. The regulator made the decision in Kyiv on March 28. The new tariffs are calculated using the methods approved by the commission in December 2015. The methods take into account…
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