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Ukraine: army needs $4 billion in 2019

Ukrainian defense budget in 2019 should amount to at least UAH 119 billion ($4 billion), according to Chief of the General Staff of the Armed Forces of Ukraine, Viktor Muzhenko. "We calculated that this should be about UAH 112 billion, a minimum required for the Army, while we are currently seeing the funding will be at UAH 82 billion. And...

Ukraine: Ernest Airlines to launch flights from Kharkiv to Rome and Milan

Ernest Airlines will launch two direct flights from Kharkiv to Italy in 2019. This was discussed at the meeting of First Deputy Chairman of the Kharkiv Regional State Administration Mark Bekker with Ernest Airlines Business Development Director Chady El Tannir. "The first Ernest Airlines flights from Kharkiv will be launched in March 2019 on two routes: Kharkiv-Milan and Kharkiv-Rome," the airlines...

Estonia: two Tallink ferry terminal hotels to be refurbished and extended

TLG Hotell OU, subsidiary of the publicly-listed Estonian shipping group Tallink Grupp, has commenced expansion and refurbishment work to the Tallink Spa & Conference Hotel and Tallink Express Hotel at Sadama 9, in the immediate vicinity of passenger ferry terminal A. A fifth level is to be added to the Tallink Express Hotel (“the express hotel”) with 25 additional rooms,...

Estonia: Versobank deposits to be paid out in full

The assets of Versobank, currently under liquidation, exceed its known liabilities, and all bank deposits will be compensated in full, the bank's liquidators said. To date, over EUR 177 million have been paid out to the depositors. "In June and ahead of the due date, we decided to compensate to all customers the deposits and bank accounts in the amount...

Azerbaijan: economy up in January-July 2018

Azerbaijan's GDP volume reached almost 43.48 billion manats in January-July, up by 0.2% YoY, according to a report of the State Statistics Committee. The volume of GDP per capita stood at 4,436.3 manats. In January-July the volume of GDP produced in the non-oil sector of Azerbaijan increased by 0.9%, while in the oil and gas sector there was a decrease of...

Ukraine: more cooperation in food industry with Iran expected

Ukrainian acting Minister of Agrarian Policy and Food Maxim Martynyuk has called for more trade relations with Iran in various spheres, particularly between the food industries. Martynyuk, at a meeting with Iran's Ambassador to Kiev Mohammad Beheshti, said that Ukraine saw Iran not only as an important partner, but also as a main regional country. The Iranian ambassador, for his part,...

Ukraine: meat production down in H1 2018

Meat production in Ukraine in January-June totaled 1.78 million tons (live weight), down by 0.3% YoY. Milk production in the country in H1 declined by 2%, to 6 million, while egg production grew by 2.6%, to 9.65 billion eggs, the State Statistics Service of Ukraine said. The data excluded reports from temporarily occupied areas in the Autonomous Republic of Crimea, the...

Lithuania: Central Bank to assess information about Latvian VIA SMS Group

Lithuania's Central Bank has promised to assess information regarding Latvian VIA SMS Group working in the country. This decision is a reaction to the statement made by Seimas National Security and Defense Committee member Arvydas Anusauskas that people associated with former Parex Banka owners worked in that company. "Before issuing the aforementioned association a license for electronic monetary functions, the...

Kyrgyzstan: construction of Madaniyat – Jalal-Abad road to start in October 2018

Construction of a section of Madaniyat-Jalal-Abad road will begin in October. This became known during a two-day working visit of the President Sooronbai Jeenbekov to the southern region of the Kyrgyz Republic. As the Minister of Transport and Roads Zhamshitbek Kalilov reported, the contract for the construction of the road was signed on June 11 with the Azerbaijani Azvirt Limited...

Latvia: small wineries to be allowed to use only local products

Members of Saeima's Economic, Agricultural, Environmental and Regional Policy Committee supported amendments to the Handling of Alcoholic Beverages Law, stating that small breweries would be allowed to use products grown only in Latvia. With amendments it is planned to define that small breweries are private persons or businessmen that produce wine, fermented beverages, and other kinds of alcoholic beverages using...