Kazakhstan: Kashagan oil to be transported via Azerbaijan in 2017

Kazakhstan may start Kashagan oil export through Azerbaijan in 2017. “Next year if market conditions change, we may start Kashagan oil transshipment through Azerbaijan”, Kazakh Energy Minister Kanat Bozumbayev said. Kashagan oil may be transported by Azerbaijan’s railways or pumped through Azerbaijan’s pipelines, Kazakh minister said. Kashagan is a large oil and gas field in…

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Belarus: IFRS introduction to improve investment climate

The introduction of the international financial reporting standards (IFRS) in Belarus will help improve the investment climate. Belarusian Finance Minister Vladimir Amarin made the statement in an interview published in the September edition of the Ministry’s magazine Finance. Accounting. Auditing. According to the source, for the sake of effective implementation of the decision in favor…

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Egypt: Russian wheat purchased

On September 22, Egypt purchased 240 KMT of milling wheat from Russia with shipment on October 21-31, at the average price of $187.03/MT C&F. The price at the previous tender equaled $185.52/MT C&F. The purchase included: – 60 KMT of Russian wheat from Aston at $186.80/MT C&F ($179/MT FOB with a freight rate of $7.80/MT);…

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Belarus: cost of credits higher than profit margin of machine builders

The cost of credits at Belarusian banks is higher than the profit margin of the country’s mechanical engineering companies, Belarusian First Deputy Industry Minister Gennady Svidersky said. Speaking about the financial position of mechanical engineering companies, the deputy minister said it was rather complicated, as the cost of credit resource still remained higher than the…

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Ukraine: Ministry of Agrarian Policy supports cancellation of the price controls for grain by-products

The Ministry of Agrarian Policy and Food of Ukraine supports cancellation of price controls for food products, including grain by-products, the Director of the food products department at the Ministry of Agrarian Policy and Food Mykola Moroz declared. According to him, the Ministry provides the reporting cancellation of price regulation as an experiment. If in…

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Ukraine: real GDP up in Q2 2016

Ukraine’s real gross domestic product (GDP) in the second quarter of 2016 increased by 1.4% YoY. This information has been posted on the website of the National Bank of Ukraine (NBU) with a reference to the State Statistics Service. “The Ukrainian economic growth has been accelerated. In the second quarter of 2016, the real GDP…

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Russia: Aeroflot to sell Rossiya Airlines

Russian national flag carrier Aeroflot may sell its largest affiliate Rossiya Airlines. Aeroflot owns 75% minus one share in the affiliate, while the rest is owned by the government of St. Petersburg. Deputy Prime Minister Arkady Dvorkovich ordered the Transport Ministry to prepare suggestions for the possibility of Aeroflot selling Rossiya Airlines. The Economic Development…

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Russia wants all public Wi-Fi users identified

The Russian communications service has suggested implementing special software for subscriber devices to identify users of Wi-Fi networks of Internet access and insists on administrative responsibility for individuals-owners of such networks. The Federal Service for Supervision of Communications, Information Technology, and Mass Media checked more than 18,000 public hotspots across the country and found out…

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