The Purchasing Managers’ Index (PMI) in the Russian services sector decreased to 53 in September from 53.5 in August, according to a Markit research note. The index remained above the 50 mark signaling an overall stagnation of the sector. “Weaker rises in both new business and unfinished work were reported while job cuts were evident…
DetailsRussian state-owned oil major Rosneft and Indonesia’s Pertamina have signed an agreement to establish a joint venture to build a refining and petrochemical facility Tuban on the Java Island, Rosneft said in a statement. Rosneft and Pertamina signed a framework agreement to cooperate in construction of an oil refinery in the town of Tuban in…
DetailsBusinessman Igor Yusyfov’s Fund Energy, which invests in oil production in Russia and the CIS, believes that Russian state-owned oil major Rosneft may buy the government’s 19.5% stake in itself. This plan will help the government receive 700 billion rubles, while Rosneft may sell the shares for a profit. The plan is “weird,” but it…
DetailsRussian President Vladimir Putin has ordered the Industry and Trade and Economic Development ministries to work on proposal by Deputy Prime Minister Dmitry Rogozin to replace management of railway equipment and tank maker Uralvagonzavod and transfer it to the state company Rostec. In a September letter to Putin, Rogozin said the plant was in dire…
DetailsOn October 5, the National Mercantile Exchange CJSC (NAMEX) held the regular stock exchange trading within frames of public grain purchasing interventions in the regional trading platforms of Russia, and purchased 48.195 thousand tons of grains (from the proposed volume of 54 thousand tons) valued at 450.181 million RUR, the press-service of NAMEX declared. In…
DetailsNibulon, one of Ukraine’s largest agricultural enterprises based in Mykolayiv, has embarked upon construction of its second terminal for transshipping cereal and oilseed crops onto sea and river transport in Kherson region. The new terminal will be located in Hola Prystan and it will join the one in Kozatske, Beryslav district, Kherson region. After commissioning…
DetailsTrade mission of Kazakh producers was held in Teheran during which negotiations with potential Iranian customers were conducted. The countries signed the Road map on trade, economical and investment cooperation in different spheres of industry and agriculture. It should be noted that currently 160 joint Kazakh – Iranian companies are already working in Kazakhstan. Iranian…
DetailsIn July Kazakhstan exported 11% more flour than in July 2015 (141.3 KMT against 126.8 KMT). Over 11 months of 2015/2016 Kazakhstan increased flour exports by 29% YoY. Afghanistan imported record high volume of Kazakh flour during the period in view – 1096 KMT. Last time Afghanistan imported such large volumes of flour in 2009/2010.…
DetailsIn 2015/2016 MY the processing volumes of sunflower seed in Ukraine broke a record and reached 11.7 million tons, up by 11% YoY. Taking into account the fact that last season the general processing capacities in the country totaled 16 million tons per year, in 2015/2016 MY the average loading rate of oilseed processing enterprises…
DetailsIn 2015/2016 MY, Ukraine received 48 notifications about qualitative characteristics of exported grains, which break a record, the chief specialist of the Phytosanitary security department at the State Service of Ukraine on Food Safety and Consumer Protection Elena Shakina declared. According to her, 35 notifications came from the quarantine service in Indonesia. At the same…
DetailsIMF forecasts of Russia’s GDP have improved immensely since spring of 2016. The IMF has repeatedly improved its forecast for Russia’s GDP dynamics. Now it expects Russia’s GDP to decline by 0.8% in 2016 and to grow by 1.1% in 2017, according to the IMF’s Global Financial Stability Report. In July, in its regular annual…
DetailsThe International Monetary Fund (IMF) forecasts Ukraine’s GDP at the level of 2.5% in 2017, according to the IMF’s World Economic Outlook. In particular, according to the table with data on CIS countries, Ukraine’s real GDP totaled minus 9.9% in 2015, while in 2016 it is estimated at 1.5%, and is projected at 2.5% in…
DetailsHeineken United Breweries will suspend production at PIT Company, its affiliate in the Russian city of Kaliningrad, from January 1, 2017 to maintain efficiency, the company said in a statement. PIT Company’s production will be redistributed among other Heineken companies, but some of its area will be used as storage. “The company has made the…
DetailsRussian gas giant Gazprom may invest 120-140 billion rubles in the development of the Chayanda field and in construction of the Sila Sibiri (Power of Siberia) natural gas pipeline in the republic of Yakutia in 2017, the republic’s head Yegor Borisov reported. “Speaking of Gazprom, we are only building plans today, we have not seen…
DetailsRussian gas giant Gazprom does not fear competition from the U.S. liquefied natural gas (LNG), Deputy CEO Alexander Medvedev said. “We are very well prepared for competition. When they ask me if we fear competition with the U.S. LNG, I openly say that I am not afraid of that”, he said. Gazprom’s confidence comes from…
DetailsOn October 4, Egypt purchased 240 KMT of milling wheat from Russia for shipment during November 1-10, at the average price of $187.11/MT C&F. The price at the previous tender equaled $187.03/MT C&F. The purchase included: 60 KMT of Russian wheat from Union at $186.32/MT C&F ($177.77/MT FOB with a freight rate of $8.55/MT); 120…
DetailsOn September 22-29, CBOT corn prices declined by 2.2%. Last week heavy rains delayed corn harvesting in the USA. Farmers threshed corn from 15% of the intended area (16% in 2015), which was 4% below the five-year average. However, favorable weather conditions established in many producing regions, which allowed increasing the harvesting pace, and pressured…
DetailsAgrarians of Belarus completed the mass planting campaign of winter grain crops, the Ministry of Agriculture and Food of Belarus declared. Thus, the general planted areas under winter grains in the country totaled 1.3 million ha (100.5% of the plan). In particular, Mogilev region planted winter crops throughout 113% of the plan, Minsk region –…
DetailsOn September 30, the international exhibition of arms ADEX-2016 came to an end. Ukraine was represented by the State Concern “UkrOboronProm,” having represented Ukrainian armored vehicles, combat modules, aviation and marine industries projects, missiles and other samples of military equipment. On the first day of the exhibition, September 27, President of the Republic of Azerbaijan…
DetailsIndependent rating agency Credit-Rating announced the confirmation of the long-term credit rating of the First Ukrainian International Bank (FUIB) at the level uaAA. The rating outlook is stable. The agency has also confirmed the deposits reliability rating of the bank at the level of “5” (highest reliability). The rating was updated on September 29. When…
DetailsYuzgas B.V. (the Netherlands) and its parent company, Emerstone Energy investment fund (Luxembourg), will consider the disclosure of their ultimate beneficiaries after they agree on the main provisions of the agreement on Yuzivska deposit with the government of Ukraine, reads a letter to Ukraine’s Energy and Coal Industry Minister Ihor Nasalyk, promulgated by MP Viktoria…
DetailsUkraine, as well as the whole world, has faced unprecedented economic challenges. Unfortunately, the global economy still feels the effect of 2008 economic crisis, which means new challenges, both for domestic agricultural sector, and for oil and fat business in particular. It’s no secret that Ukraine mainly operates in raw materials markets. A 50% and…
DetailsRye production is steadily declining in Ukraine. If earlier Ukraine was an exporter of rye, before 2014 Ukrainian rye harvest was just enough for domestic consumption only. Over the last two seasons a new trend has emerged – both rye and rye flour imports are growing. The need to import one of Ukrainian traditional grain…
DetailsAs of October 4, Ukrainian agrarians harvested 45.08 million tons of grains throughout the areas of 11.149 million ha, or 78% of the plan. The average yield totaled 4.04 ton/ha, the Ministry of Agrarian Policy and Food of Ukraine reported. At the same time, on the same date last year the production volumes reached 43.5…
DetailsAs of October 3, all regions of Ukraine planted winter rapeseed throughout the areas of 717.5 thousand ha, or 99% of the plan, up by 145 thousand ha YoY, the Ministry of Agrarian Policy and Food of Ukraine declared. Odessa, Vinnytsia, Khmelnytskyi, Ternopil and Lviv regions showed the largest planted area under winter rapeseed. (APK-Inform/Business…
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