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Ukraine: liquidation of Ukrainian Financial World bank extended

The Deposit Guarantee Fund of Ukraine has extended the term of liquidation of PJSC Commercial Bank Ukrainian Financial World, the Fund's press service reports. "Under point 2 of Part 5 of Article 12, Part 1 of Article 35, Part 5 of Article 44, Part 3 of Article 48 of the Law of Ukraine "On Individuals' Deposit Guarantee System", the Executive...

Ukraine: Bayer opens new factory in Zhytomyr region

German company Bayer has opened a modern factory for production of seeds of agricultural crops in Zhytomyr region, northwestern Ukraine. "The Bayer company has opened a new modern factory for the production of seeds of agricultural crops in Zhytomyr region. The company has created 85 permanent and 220 seasonal jobs for Ukrainians," President of Ukraine Petro Poroshenko posted on his...

Estonia: president proposes making social tax incentive available to businesses

The state should consider the introduction of a reduced social tax rate as an incentive either under the existing system of no corporate income tax, in its place, or as an option available to businesses, President Kersti Kaljulaid said. Kaljulaid said that in the past 30 years Estonia's tax system had aimed at attracting capital investors. But the idea to...

Armenia: pizza makers eager to enter market

Papa John's Pizza, Baskin Robbins and Domino's Pizza are eager to enter the Armenian market, according to a press release from the U.S. embassy in Armenia. The Embassy and the U.S. Commercial Service in Moscow, in partnership with IDBank, organized a one-day conference focused on franchise business opportunities. The event is part of an ongoing effort to foster trade and investment...

Belarus: dairy export to China up in January-July 2018

Enterprises affiliated with the Belarusian Agriculture and Food Ministry increased dairy export to China 5.6-fold YoY in January-July, Aleksei Bogdanov, Head of the Central Office for Foreign Economic Activities of the Belarusian Agriculture and Food Ministry, declared. "In January-July Belarus' farm export to China totaled $23.3 million, up 4.2-fold. Dairy was the biggest contributor. In January-July we set a record...

Ukraine: share of non-performing loans down in July 2018

In July Ukrainian banks reduced the share of problem non-performing loans by 0.6%, to 55.1%, according to the data provided by the National Bank of Ukraine. According to the NBU, as of August 1, the total volume of provided loans grew by UAH 21.9 billion, to UAH 1.2 trillion. Of which non-performing loans amounted to UAH 631.2 billion. The decrease in...

Ukraine: Berdiansk Port expands grain-handling capacity

The state enterprise "Berdiansk Commercial Sea Port" upgraded its material and technical base and introduced a new technology for grain handling. The state port operator purchased two ship loaders, one of which is already operating. The new equipment allows loading about 300 tons of grain per hour. The introduction of new technologies should provide stable work to Berdiansk dock workers with traditional...

Georgia: 2018 grape harvest kicks off

The 2018 grape harvest is in full swing in Georgia's wine region of Kakheti. This will be the first grape harvest in the last 10 years that has not been subsidized by the state. Diversified markets, increased wine exports and the number of enterprises on the market gives firm reasons to believe that the grape harvest will be successful and organized,...

Estonia: consumer prices up since 2000

Consumer prices in Estonia rose by 79.5% between 2000 and 2017, more then twice the EU average of 36.5% and fifth in Europe, Eurostat, the European Commission's statistical agency said. Estonia was, according to the figures, well above the EU average in virtually all sectors, most notably alcohol and tobacco products, where prices in Estonia have increased by 147.2% over...

Azerbaijan: Unibank and Rabitabank to issue business loans jointly

Azerbaijan's Rabitabank and Unibank have made a joint decision to issue syndicated loans, the Unibank said in a statement on September 4. The message said a "Protocol of intent", implying the issuance of joint syndicated loans, was signed between the banks. The syndicated loans are usually issued to business customers by two or more banks. As a result of this cooperation,...