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Ukraine: highest salaries in June 2018 recorded in Donetsk region

In June the highest level of average monthly salaries totaling UAH 9,774 was recorded in Donetsk region, according to the Economic Development and Trade Ministry. "The average nominal wage in Ukraine in June made up UAH 9,141, up 2.5-fold from the minimum wage and by 24.2% YoY," reads the report. Among the most highly paid regions were also Kyiv and Dnipropetrovsk...

Ukraine: Centrenergo net profit down in H1 2018

The state-owned power generating company Centrenergo in the first half of 2018 reduced net profit by 78.3% YoY, from UAH 2.019 billion ($75.8 million) to UAH 439.3 million ($16.5 million). Net income from sales amounted to UAH 7.97 billion over the period under review, up by 32%, according to a company announcement in the National Securities and Stock Market Commission's...

Belarus: agricultural exports to China in 2018 to hit $100 million

Belarus plans to export agricultural products worth $100 million to China in 2018, Belarus' Deputy Prime Minister Mikhail Rusy declared. "Last year we exported $17 million worth of agricultural products to China. We believe that this is not enough as the market is very big. We aim for $100 million in agricultural exports to the People's Republic of China in...

Tajikistan: economic growth hits 7.2% in H1 2018

The economic growth of Tajikistan in January-June accelerated to 7.2% compared to 6% in the same period of 2017, chairman of the Tajik National Bank Jamshed Nurmahmadzoda said. In nominal terms Tajikistan's GDP in January-June amounted to 27.7 billion somoni (over $3.02 billion), according to Reuters. Inflation in the consumer sector slowed to 0.9% in the six months of this year...

Azerbaijan: wine exports to increase in 2018

Azerbaijan may increase wine exports 2-fold by the end of 2018, Chairman of the Azerbaijan Wine Producers and Exporters Association Elchin Madatov declared. "The export of Azerbaijani wine products exceeded $4 million in the first half of 2018, up by 80% YoY," Madatov said. "By the end of 2018 we expect a 100% increase in wine exports." The main export destinations...

Ukraine: Gnidava Sugar Refinery assembles beet pulp presses

Gnidava Sugar Refinery continues to modernize production. The installation of "Babbini" beet pulp presses is in the final stage. The equipment is intended for pulp spinning after diffusion, the deputy chairman of the investment board Glib Galkevych reported. "Two thirds of equipment have already been installed, we begin to bring it all in operation. We have dismantled old buildings to...

Ukraine: gas price for households to remain unchanged until autumn 2018

The Cabinet of Ministers has left unchanged the price of gas for the population until September 1. The decision was made at a government meeting on July 26, according to the government portal. "The government has extended until September 1 the effect of resolution No. 187 on the approval of the clause on the imposition of special duties on the...

Latvia: construction costs up in June 2018

Compared to May the level of construction costs in Latvia grew by 0.4% in June. Labor remuneration of workers grew by 0.6%, prices of building materials - by 0.5%, but maintenance and operational costs of machinery and equipment - by 0.1%. In June the average level of construction costs was mostly affected by an increase in labor remuneration to concrete...

Azerbaijan: NIKOIL Bank and subsidiary of Georgian bank to merge

Azerbaijan's NIKOIL Bank and non-bank credit organization TBC Kredit (subsidiary of Georgian TBC Bank) are holding negotiations on the merger. To this end, both parties have signed an agreement on strategic partnership. A source close to the negotiations said that it was too early to talk about the actual merger, because there were still a lot of issues left unresolved. "Currently, the...

Kyrgyzstan: builders of Osh-Batken-Isfana road not receiving salaries for several months

About 40 builders of Osh-Batken-Isfana road in Batken region went on a strike because of non-payment of wages. The protesters demand payment of the wage arrears for four months. The Ministry of Transport and Roads said that the problem would be solved in the coming days. Funds will be transferred to the account of the construction company. The Islamic Development Bank...