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Ukraine: level of shadow economy down in Q1 2018

In the first quarter of 2018 the level of shadow economy in Ukraine amounted to 33% of GDP, falling by 4% compared to the first quarter of last year. The de-shadowing of the economy became possible due to the preservation of macroeconomic stability and positive economic trends under the implementation of policies aimed at expanding domestic demand, which was facilitated,...

Ukraine: Deposit Guarantee Fund to sell insolvent banks’ assets worth UAH 6.8 billion

The Ukrainian Deposit Guarantee Fund this week intends to sell assets of insolvent banks for the total amount of UAH 6.785 billion, the fund's press service reports. "The assets of insolvent banks for the sum of UAH 6,784.53 million will be put up for sale this week," reads the report. According to the Deposit Guarantee Fund, it is expected to recover...

Belarus: dairy exports to Russia down in H1 2018

In the first half of 2018 the Republic of Belarus sharply reduced the export of dairy products to the Russian Federation, according to the National Statistic Committee of Belarus (Belstat). The main reason for the decline in exports was the decline in the supply of condensed milk and milk powder to Russia. At the same time, as it became known,...

Georgia: TBC Bank profits up in H1 2018

Georgian company TBC Bank has enjoyed a considerable year-on-year jump in its pretax profit in the 2 quarters of 2018. During the first half of the year TBC's profit amounted to GEL 239.5 million ($92.8 million). Compared to the first half of last year, TBC Bank reports a GEL 48.1 million ($18.6) increase. Over the last three months alone TBC...

Estonia: cargo volumes handled by ports up in January-July 2018

In the first seven months of 2018 Estonian ports handled 21.1 million tons of cargo, up by 2.7% YoY, according to the data provided by Statistics Estonia. The loading of goods increased by 5.2% YoY, to 14.5 million tons, while unloading declined by 2.2%, to 6.6 million tons. Goods loaded onto ships in July amounted to 2.2 million tons, up by...

Ukraine: bridge across Dniester to be built with Moldova

The government of Ukraine intends to offer the Moldovan side soon to sign an intergovernmental agreement and begin the construction of a bridge across the Dniester River, Ukrainian Deputy Prime Minister Volodymyr Kystion said after a meeting on this issue, which took place in Kyiv with the participation of central and local executive authorities, according to the website of...

Ukraine: new unguided 80 mm caliber aircraft missile Oskol tested

A pilot batch of the unguided 80 mm aircraft missile Oskol has been tested in Ukraine. "The RS-80 Oskol missile is our own product, completely developed and manufactured in Ukraine, including all its components," Ukrainian Military TV's Oleksandr Shtupun wrote on Facebook. The brigade of Chernihiv-based State Research Institute for Testing and Certification of Arms and Military Equipment conducted live fire...

Uzbekistan: Europe’s largest car rental company enters market

Europe's largest car rental company Sixt has entered the Uzbek market. Recently, an official presentation of the local branch of the company - Sixt Uzbekistan - has been held in Tashkent. "Sixt provides cars for rent in more than 110 countries. Now residents and guests of Uzbekistan will be able to use this service. The advantage of the company is that...

Belarus: Economy Ministry to work out new management methods

It is not always possible to manage the economy using old methods. Prime Minister of Belarus Sergei Rumas made the statement as he introduced Economy Minister Dmitry Krutoi to the Economy Ministry personnel. Sergei Rumas told Dmitry Krutoi: "I look forward to new ideas from you and your team because all of us understand that time goes on, everything changes....

Kazakhstan: Eurasian Bank to do more retail lending

Kazakhstan's Eurasian Bank JSC plans to increase the share of retail lending in its portfolio, the bank's Chairman Pavel Loginov said. "We are planning to change the bank's balance structurally - retail and corporate businesses should be at 60% and 40% respectively by 2020," Loginov said. "A year ago the ratio was 40% and 60%, but in 2018 the share...