Russia’s Natural Resource and Environment Ministry and the U.N. have approved the first document that will bring the country’s classification of oil and gas resources closer to the U.N. classification, the ministry said in a statement. This document has become the first document that has tied the U.N. framework classification with a national system. The…Details
Ukraine is waiting for the fourth tranche of the U.S. government-secured $1 billion. “Along with the proposal on technical assistance we hope to continue cooperation in getting the new U.S. government-secured $1 billion. The credit guarantees are used to settle urgent needs of the budget and they are provided at very low rates after the…Details
The government is making all necessary steps to ensure that over the next 4-5 years Ukraine could become a country with a strong national economy, Prime Minister of Ukraine Volodymyr Groysman announced during the opening ceremony of electrical equipment and automotive parts plant of the Fujikura company in the Lviv region. The Prime Minister stressed…Details
In August large and medium-sized enterprises produced 11.5 KMT of margarine against 15.7 KMT in the previous month. August volume was almost in line with production in August 2015 (11.6 KMT). The lag is only 0.1 KMT, which is minimal in January-August. Since the beginning of 2016 (January-August) Ukrainian enterprises produced 108.2 KMT against 128.8…Details
The last week of September has come to the end with moderately warm weather conditions and low amount of precipitations. Average air temperature was within +9.5 ..+13.9 C, down by 1-6 C from the norm. In the northern regions temperature of upper soil layer lowered to -2 C in some places. Precipitations did not replenish…Details
Ukraine and Netherlands agreed to strengthen cooperation in the sphere of internal waterways development and port infrastructure. According to the results of meetings with Ministry representatives and Ambassador of Netherlands in Ukraine, agreements were reached concerning the visits of responsible Ukrainian ministry representatives to the Netherlands so as to gain experience in internal waterways management.…Details
On October 3, Ukraine and Korea held a sitting of the joint governmental commission for trade and economic cooperation. First Deputy Economic Development and Trade Minister Yulia Kovaliv posted this on her Facebook page. “I’ve opened the Ukrainian-Korean business forum. Main messages for the Korean business: the Ukrainian government is open for investors and business,…Details
On September 26 – October 2, Ukraine exported 1.02 million tons of grains from the seaports, against 648.4 thousand tons on the previous week.
In particular, wheat shipments reached 804 thousand tons, barley – 153.8 thousand tons, and corn – 65.7 thousand tons. (APK-Inform/Business World Magazine)
On September 30, the minister of Agrarian Policy and Food of Ukraine Taras Kutovyi signed the Annex #1 to the Memorandum of Understanding between the Ministry of Agrarian Policy and market participants – grain exporters for 2016/2017 MY. The document settles voluntary coordination of the possible volumes of grain exports from Ukraine in 2016/2017 MY,…Details
Russia’s Finance Ministry has suggested the government cut spending on a state agriculture program by 9.4% to 214.791 billion rubles in 2016, according to the ministry’s draft amendments to the 2016 budget published on the government’s web site for disclosure of legal information. The ministry also offered a 9.8% cut of financing of the state…Details
Russia’s Transport Ministry will prepare proposals to sale national flag carrier Aeroflot’s 75% minus one share stake in Rossiya Airlines by October 10, minister Maxim Sokolov announced.
“I think that the deadline for that is set for October 10, in accordance with the government ruling”, Sokolov said. (Prime/Business World Magazine)
The Russian government will resume preparations for a sale of its stake in oil company Bashneft and has launched the sale of 19.5% in oil major Rosneft, Deputy Prime Minister Igor Shuvalov said. “After an additional study of the privatization issue of Bashneft and Rosneft, the government decided to restart preparations for the sale of…Details
Russia has set a new record in oil production by increasing output by 4% MoM to 11.11 million barrels per day (bpd) in September, Reuters reported on October 2, citing the latest data of the Energy Ministry. Bloomberg also reported citing the data that Russia’s daily production of natural gas increased by 5.15% YoY and…Details
Since the beginning of 2016/2017 MY, and as of September 28, the volume of grain exports from Russia totaled 9.436 million tons, down by 3% YoY (9.777 million tons), the Ministry of Agriculture of the Russian Federation declared, referring to the data of the Federal Customs Service of Russia. According to the announcement, the wheat…Details
As of September 1, Russian agro enterprises had 722.8 KMT of oilseeds, down by 94.2 KMT or by 11.5% YoY (817 KMT). In August oilseed stocks were 366 KMT higher. Agro companies had 245.4 KMT of sunseed, down by 29.4 KMT and by 10.7% YoY (274.8 KMT). In August sunseed stocks were 95.1 KMT higher.…Details
In 2017 Russia will keep the general grain harvest at the level expected for the current year – 113-116 million tons, the Minister of Agriculture of the Russian Federation Alexander Tkachev declared. In accordance with the State program, in 2017 it is planned to produce 107 million tons of grains. However, the Ministry will try…Details
Cancellation of the export duties on Russian wheat has to be unlimited, the Deputy Prime Minister of the Russian Federation Arkady Dvorkovich declared. According to him, the government canceled the customs duties for 2 years, but the officials do not plan to restore the duties at all. They requested grain exporters to set any possible…Details
Russian Internet giant Mail.Ru Group acquired 100% of mobile game developer Pixonic for $30 million, the group said. “We’re sure that we’ve been joined by one of the strongest teams of mobile game developers in the world. We’re confident that the merger will enforce the division of the international mobile development and release, and we’ll…Details
Russia and Belarus will discuss their natural gas dispute, but not a discount some time, Deputy Prime Minister Arkady Dvorkovich said. Belarusian President Alexander Lukashenko said earlier in September that Moscow and Minsk had almost agreed on the price of Russian gas supplies, but Yury Yaroshevich, minister-councilor of the Belarusian embassy in Russia, said shortly…Details
Ukrainian President Petro Poroshenko has congratulated the Kyiv-based government-run Luch Design Bureau on its successful test of the Sarmat new remote weapon system with anti-tank missiles.
The head of state said that Ukrainian Armed Forces were the main guarantee of the country’s independence. (Interfax/Business World Magazine)
The number of container trains going from China to Europe transiting through Kazakhstan has increased more than twice. Since the beginning of the year, 1,210 container trains passed through the territory of Kazakhstan on the China-Europe railroad. During the same period of last year, 503 trains went this way, according to Kazakhstan national railway company.…Details
The Moscow Arbitration Court will consider a 3.1 billion ruble suit filed by oil major Rosneft against channel RBC-TV and BusinessPress, the founder of media holding RBC, on November 11, according to a court statement. Several reporters of the holding, Konstantin Bochkaryov, Timofei Dzyadko, Lyudmila Podobedova and Maxim Tovkailo, were listed as co-defendants in the…Details
Russia’s readiness to participate in consultations on oil output limits raises the chance that large oil producers will agree on measures to counter the price decline at the next meeting of OPEC on November 30 in Vienna, Morgan Stanley said in a research note. Russia is ready to consider joining OPEC and other oil producing…Details
Russian retail sales are not expected to see a significant positive dynamics in 2016 but will likely recover in 2017, Industry and Trade Minister Denis Manturov said. “We will unlikely see significant positive dynamics (of retail sales) YoY in 2016, but there is a feeling of some recovery. Let’s see how the situation will unfold…Details
Kazakh agro sector additionally received $290 Million in the framework of plan on additional measures to stimulate economic growth and support employment in 2016-2017. $90 million will be sourced to subsidize animal breeding, $38 million – for investment subsidies, $154 million – to finance KazAgro projects. Agrarian Ministry clarified that KazAgro will use finances for:…Details
On September 26 – October 2, the export volumes of grains from the Russian seaports reached 425.8 thousand tons, against 747.4 thousand tons shipped on the previous week.
In particular, the wheat shipments totaled 382.5 thousand tons, barley – 1.2 thousand tons, and corn – 39.1 thousand tons. (APK-Inform/Business World Magazine)
The Ministry of Agriculture of Russia does not entirely foreclose the possibility of renewal of the export duties on wheat in terms of force majeure circumstances, the Minister of Agriculture of the Russian Federation Alexander Tkachev declared. According to him, the government cancelled the export duties, because the market had stabilized, and there was no…Details
In the current season the export potential of Ukraine in the grain segment totals 38.1 million tons.
This is a decrease of only 1.1% compared with the record high level in 2015/2016 MY. (APK-Inform/Business World Magazine)