Plans have been made to build a large waste recycling plant at the border of Smolevichi district and Borisov district. The enterprise will utilize a complete production cycle, Nikolai Svirsky, Head of the Beautification and Secondary Material Resources Department of the state enterprise Minsk Region Utilities, reported. As much as 65 million euro in foreign…
DetailsOn November 14-20, it was cooler than usual and insignificant precipitation was registered. The average weekly air temperature in the country was +1.1-3.7 degrees C, or 1.0-1.5 C below normal. Minimum air temperatures reached 6 degrees C below zero. Almost no precipitation was observed during the week, just at most 1-3 mm (5-35% of normal)…
DetailsInternational British procurement agency Crown Agents plans to purchase drugs and medical products from funds of the national budget of Ukraine for 2016 by March next year, Crown Agents senior procurement consultant Christine Jackson has said. According to the terms outlined in the agreement Ukraine’s Ministry of Health and Crown Agents signed on October 27,…
DetailsThe export market of Kazakhstan saw growth of milling wheat prices last week. It was fueled by the following factors: reviving demand from key importers; consequent growth of Kazakh wheat exports by a third against 2015 early in the season; rising domestic prices for milling wheat in Kazakhstan against the background of volatility of the…
DetailsPurchase prices for grain in Bulgaria’s domestic market closed the week with an increase following their downturn a week ago. At the same time, the Bulgarian lev has devalued by almost 5% over the two weeks. Market purchases of milling wheat remain quite brisk. Growth of prices was reported both in the domestic and export…
DetailsUkraine uses the potential of organic agricultural production by less than 10%, while this sector is promising for the development of small and medium-sized businesses, Agrarian Policy and Food Minister of Ukraine Taras Kutovyi said. “Ukraine has an extraordinary potential for organic production, which today is used by less than 10% of our capabilities. It…
DetailsBelarus’ BelAZ heavy-duty truck manufacturer (Zhodino, Minsk region) has designed the MoAZ-65010 dump truck for subsurface mining. The compact dump truck with a 15-ton load capacity has been custom-made for Russia’s OAO Kombinat KMAruda. BelAZ will ship the new truck to the customer in early 2017 for acceptance tests. The truck is 2.1 meters wide…
DetailsThe Belarusian mechanical engineering company Gomselmash has sent the first batch of cotton harvesters to Cameroon, Igor Korotkevich, First Deputy Director of the company’s Regional Sales Department, reported. The harvesters will be delivered to Cameroon in roughly one month. “By that time our specialists will have arrived in Cameron in order to prepare the machines…
DetailsBelarus endorses the recommendation of the OECD in terms of upgrading SME capacity and has already developed specific measures to implement them, Belarus’ Economy Minister Vladimir Zinovsky said during the roundtable held as part of the OECD Eurasia Week 2016 in Paris. Presenting a set of measures to implement the proposals of the OECD experts,…
DetailsPublic joint-stock company Ukrzaliznytsia seeks to boost capital investment 2.4 times in 2017, to 27.4 billion UAH from 11.2 billion UAH expected in 2016, according to a company presentation shown during the phone conference with investors. According to the document, Ukrzaliznytsia plans to send 46% of funds to purchase property assets, 33% for major construction…
DetailsThe Belarusian-Turkish business council will sit in Minsk in 2017. The matter was discussed at the meeting between Belarus’ Consul General in Istanbul Vladimir Mironovich and Chairman of the Foreign Economic Relations Board of Turkey Omer Cihad Vardan, the press service of the Belarusian Ministry of Foreign Affairs reported. The parties reached an agreement to…
DetailsRestructuring of Azerbaijan’s financial sector may be completed by the end of 2016, Rufat Aslanli, chairman of the board of directors at the country’s Financial Market Supervisory Authorit, said. “Currently, we aim at completing the restructuring process in the country’s financial sector”, he said. “I think we will be able to complete it until late…
DetailsPrivatization of Azerbaijan’s large state enterprises, including state oil company SOCAR, requires time and such issues must not be hurried, Rafig Jalilov, deputy chairman of Azerbaijan’s State Committee on Property Issues, said. “It is needed to be consistent in such issues, since the privatization of large enterprises touches the issues of Azerbaijan’s economic independence”, Jalilov…
DetailsInternational reserves of the National Bank of Ukraine (NBU) are projected to increase to $17.5 billion by the end of 2016, if Ukraine receives a credit totaling 600 million euros from the European Union and a credit totaling $1.3 billion from the International Monetary Fund (IMF). NBU Governor Valeria Gontareva stated this at a press…
DetailsConstruction of a railway bridge across the Astarachay river at the border of Azerbaijan and Iran as part of the North-South Transport Corridor will be completed in December, Javid Gurbanov, head of Azerbaijan Railways, reported. Gurbanov said the 8.3-kilometer section of the railway from the Astara Station to the bridge at the border with Iran…
DetailsA passenger train will be launched between Azerbaijan’s Nakhchivan and Iran’s Mashhad before late November, Javid Gurbanov, head of Azerbaijan Railways CJSC, reported. Gurbanov said the train would start running either on November 27 or November 30. The Nakhchivan-Julfa-Tabriz-Tehran-Mashhad passenger train will run twice a week. Renewed cars will be used for the trips. (Trend/Business…
DetailsAzerbaijan Airlines (AZAL) announced a new campaign for flights on the route from Baku to Tel Aviv. When buying from December 1 to 20, an air ticket for the flights on Baku-Tel-Aviv-Baku route in the period from January 10 to March 10, 2017 will cost 299 euro. The cost includes all taxes and fees. The…
DetailsThe trade turnover between Ukraine and the EU increased by 6% YoY in January-September 2016 as a result of the Free Trade Area Agreement, which came into effect on January 1, 2016. This is reported by the Economic Development and Trade Ministry of Ukraine on its Facebook page. “The European Union is Ukraine’s main trading…
DetailsAstarta exported 115 KMT of soybean crushing products in January-September that is almost 81% of the segment’s sales, the company’s press service reports. Revenues in the soybean crushing segment reached 53 million euro, or 25% of Astarta’s consolidated revenue, up by 36% YoY. In January-September Astarta sold 28 KMT of soybean oil, up by 42%…
DetailsA $2.5 million venture funding program – AID-Venture – has been launched in Belarus, Bel.biz Group reported. The consortium of partners consisting of several companies has won the tender for venture capital ecosystem development in Belarus. Aleinikov & Partners together with a group of companies Bel.biz, venture fund 500 Startups and international educational program for…
DetailsThe Infrastructure Ministry is in talks with the global operator Hutchison Ports, which is ready to enter one of Ukraine’s biggest ports, Infrastructure Minister Volodymyr Omelyan said. According to him, a bill on concession is being drafted now, which is to become a universal law for all the sectors of this industry. Work has been…
DetailsUkraine from January 1, 2017 will become an official member of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) led by the Organization for Economic Cooperation and Development (OECD). Ukraine’s Finance Ministry reported that Minister Oleksandr Danyliuk on November 22, handed a letter to OECD Secretary-General Angel Gurria. This is the final phase…
DetailsThe State Agency of Automobile Roads of Ukraine (Ukravtodor) intends to build a new road, which will connect the M-06 Kyiv-Chop highway with the Hungarian road M-3 Budapest-Nyiregyhaza. According to the press service of the agency, the corresponding decision was made following a joint review of infrastructure on the Ukrainian-Hungarian border. “This will allow combining…
DetailsUkrainian companies, which participated in a trade mission to China, have received first orders from Chinese importers for sugar, pork and sunflower oil deliveries. The press service of the Ukrainian Food Export Board (UFEB) reports this citing UFEB Chairman Bohdan Shapoval. “We have received the first orders for pork, sugar and sunflower oil. Sunflower oil…
DetailsPort of Riga said October was the most successful month of the year in regards of cargo turnover, as well as the most successful October in the port’s history. The monthly cargo turnover at the port reached 3.54 million tons, up by 18% MoM and by 7% YoY. The largest contribution to the growth of…
DetailsUkraine’s grain output will increase to 64 million metric tons in the 2016-2017 season, the largest grain harvest since the country gained independence in 1991, Agriculture Minister Taras Kutoviy said. Ukraine produced 60.3 million metric tons of grain in the 2015-2016 marketing season, according to the ministry. The latest forecast is a revision of the…
DetailsIn January-October transportation of passengers by water transport in Ukraine totaled 400,000 passengers (-22.4%, YoY).
According to the State Statistics Committee of Ukraine, total passenger turnover in Ukraine fell by 6.6% to 4.02 million passengers.
In 2015, water transport of Ukraine carried 0.6 million passengers (-3.3%, YoY). (Portnews/Business World Magazine)
The National Bank of Ukraine (NBU) has made an exception of the general rules of controlling the rates of foreign credits of loans if resident borrowers (both companies and financial institutions) raise funds from nonresident creditors with the participation of export-credit agencies. “This step would expand opportunities for residents’ access to foreign credit resources provided…
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