The consolidated net profit of PJSC Motor Sich in the first quarter of 2017 according to the international financial reporting standards (IFRS) amounted to UAH 1.457 billion, up 4.8-fold YoY (UAH 304.67 million), according to the company’s quarterly report. According to its data, net sales income in January-March this year increased by 63.4%, to UAH…
DetailsThe tax policy reform will make Latvia more competitive in comparison with other Baltic States. In addition, reforms in the country will introduce the largest PIT benefits for dependents among other Baltic States, Finance Ministry promises. “Tax burden decline for labor taxes and increased benefits will be felt by all residents,” the ministry states. PIT…
DetailsUkraine has entered the Top 5 ranking of the world’s largest mustard producers, the Ukrainian Agribusiness Club (UCAB) reports, referring to the data from the Food and Agriculture Organization of the United Nations (FAO). In particular, the world’s largest exporters of mustard include Canada, Ukraine, Russia, Germany and India. The major importers of mustard are…
DetailsThe document specifying how much food Belarus and Russia intend to trade in with each other in 2017 has been preapproved, Alexei Bogdanov, Head of the Central Office for Foreign Economic Activities of the Belarusian Agriculture and Food Ministry, reported on April 27. According to him, a joint session of the boards of the Belarusian…
DetailsThe National Bank of Tajikistan (NBT) predicts further food price hike under the pressure on the exchange rate of the national currency, the somoni, against the dollar (USD). Tajik central bank forecasts that prices for imported food products will begin to rise starting from the second quarter (April-June). The NBT specialists say negative inflation expectations…
DetailsNew taxis of Peugeot and JAC models assembled in Kazakhstan are expected to appear on Dushanbe’s streets next month. Holding Asia Group Tajikistan Company says 120 Peugeots and JACs will arrive in Dushanbe before June. Top manager Sulton Kamolov says the company now has 100 KIA and Toyota cars which are used as taxis. “These…
DetailsState-owned enterprise Boryspil International Airport, the largest airport in the country, saw a 2.1-fold YoY rise in net profit in January-March, to UAH 372.293 million. According to a financial report of the airport, its net revenue in Q1 grew by 32.7%, to UAH 893.5 million. Boryspil International Airport is the main airport of Ukraine. The…
DetailsPersha Pryvatna Brovarnia, a large brewery in Ukraine, has received a license form Heineken Concern to produce Czech beer Krusovice and will start its production in early June. “This year we received a license from Heineken Concern to produce Krusovice and in a month will start producing this famous Czech beer,” the co-owner of Persha…
DetailsUBC Group (Kharkiv), a commercial and industrial holding working in the field of refrigeration appliances, will launch the first stage of a refrigerator plant in Vinnytsia in autumn. “We now have a problem with production capacities. We need new production capacities to increase the market share in Western Europe and America. And we are building…
DetailsAccording to forecasts of the UN Food and Agriculture Organization (FAO), in the following season (June-July) Tajikistan will import 1 million tons of wheat, which is below the annual average level for the country. In February-March the weather conditions in the agricultural regions of Tajikistan were favorable for development of winter crops. Precipitation was higher…
DetailsThe Aga Khan Fund for Economic Development (AKFED) has added another telecoms operator to its portfolio by buying Telia Company’s 60% stake in Tajikistan operator Tcell. AKFED already owned the other 40% and is reportedly paying just $27.7 million for the rest. AKFED owns Afghanistan’s Roshan mobile operator, which in turn also owns Smart Telecom,…
DetailsThe Belarusian government expects real revenues of the population to rise, Prime Minister of Belarus Andrei Kobyakov declared. According to the head of government, real salaries in Belarus rose by 1% in Q1 (by 0.5% in January-February). According to statistics, in March the average salary was slightly above Br770. “Salaries are on the rise. The…
DetailsIn 2017, the amount of investment income made 51.5 billion tenge, according to CEO of the JSC Unified Accumulative Pension Fund Nurbubi Nauryzbayeva. In her words, in the first quarter of 2017, pension assets increased by 153 billion tenge and comprised 6 trillion tenge as of April 1. 98% of all the retirement savings was…
DetailsDiamantbank (Kyiv) that was declared insolvent on April 25, reported that the bank saw profit in January-March after four quarters of seeing losses. According to a bank report, it saw UAH 1.7 million of net profit in January-March, while a year ago its net loss was UAH 287.404 million. Net interest income over the period…
DetailsPJSC Ukrzaliznytsia has stated it does not carry out any activity in the territory uncontrolled by Ukraine, the Ukrzaliznytsia department of information policy and public relations has said. “The company does not use rolling stock for any transportation in the occupied areas of Donetsk and Luhansk regions,” the statement said. Ukrzaliznytsia also notes there is…
DetailsUkraine will resume supply of electricity to the uncontrolled territories of Luhansk region if the debt is repaid, Minister of Energy and Coal Industry Ihor Nasalyk has said. The minister said the decision to cut off power supply was not political but economic. “All the enterprises that were registered in the uncontrolled territory of Luhansk…
DetailsIn January-March the production volumes of flour in Ukraine totaled 475 thousand tons, an increase of 0.6% compared with the same period last year, the State Statistics Service of Ukraine reported. Also, in the reporting period Ukraine significantly increased the production of crude sunflower oil, which reached 1.448 million tons, up by 35.7% YoY. The…
DetailsCompared to February, the average level of producer prices in Latvian industry grew by 0.1% in March. The prices of products sold on the domestic market dropped by 0.1%, whereas the prices of exported products increased by 0.3%. The prices of products exported to euro area countries grew by 0.2% and of products exported to…
DetailsTajikistan will purchase 1,500 Peugeot 301s and 500 JAC S3s assembled in Kazakhstan in order to renew Dushanbe’s taxi fleet. Tajikistan’s Holding Asia Group Tajikistan and Kazakhstan’s AllurGroup have signed a memorandum of understanding on cooperation. Holding Asia Group Tajikistan will purchase 1,500 Peugeot 301s and 500 JAC S3s from AllurGroup. AllurGroup is expected to…
DetailsThe Ministry of Labor held an extended meeting devoted to the results of operations for the first quarter of 2017 and unconditional execution of the Program of employment of the population for 2017. 39.8 thousand jobs were created in the period from January to March. 2 thousand unemployed citizens received vocational training, and 1.2 thousand…
DetailsThe reconstruction of Toktogul hydropower plant will not affect the tariffs for electricity in Kyrgyzstan, the head of the State Committee for Industry, Energy and Subsoil Use Duishenbek Zilaliev declared. According to him, the third phase of the project provides for the replacement of two remaining turbine units of the plant with an increase in…
DetailsThe international rating agency Fitch Ratings has affirmed Kazakhstan’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘BBB’ with Stable Outlooks. The issue ratings on Kazakhstan’s senior unsecured foreign-currency bonds have also been affirmed at ‘BBB’, Fitch said. The Short-Term Foreign- and Local-Currency IDRs have been affirmed at ‘F2’. The Country Ceiling has been…
DetailsPASHA Bank’s share in the Azerbaijani banking market in terms of volume of assets reached 10% as of late 2016, Taleh Kazimov, the bank’s CEO and chairman of Executive Board, declared. The bank’s share in terms of the volume of the loan portfolio reached 5.5%, he said on April 25. In 2016, PASHA Bank’s assets…
DetailsPJSC Bakhmutsky Agrarian Union (Donetsk region), a pork producing enterprise, in 2016 increased pork sales by 4.9% YoY, to 15,280 tons (live weight). According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, last year its net loss amounted to UAH 55.9 million against a…
DetailsRepresentatives of small and medium-sized enterprises (SME) have noted the improvement of the business climate in Ukraine: the corresponding index in 2016 rose to plus 0.06 from plus 0.01 in 2015 (on a scale from minus 1 to plus 1), according to the results of the “Annual assessment of the business climate 2016.” “The index…
DetailsThe National Bank of Ukraine (NBU) on April 24, recognized Diamantbank (Kyiv) insolvent, according to the central bank’s website. The NBU board made corresponding decision No. 264-RSh/BT as of April 1, the bank failed to achieve the minimum level of regulatory capital adequacy at a ratio of 5% established by the central bank. Following the…
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