Currency reserves of the Central Bank of Azerbaijan (CBA) decreased by $127.2 million MoM (3.08%) to $4.005 billion in October, according to the CBA statistical data. The Central Bank’s currency reserves have decreased by 1.011 billion manats, or by 20.2% since early 2016. The reduction in CBA’s currency reserves began in June 2014. The reduction…
DetailsThe International Monetary Fund (IMF) has revised upwards expectations regarding the ratio between Ukraine’s gross foreign debt and GDP in 2016-2017. According to the IMF, the indicator will grow to 141.3% of GDP from 136.4% of GDP (earlier it was excepted to be 152.3% of GDP) and in 2017 it will fall to 136.3% of…
DetailsThe Southern Gas Corridor (SGC) project is running in very professional manner, European Commission Vice President for Energy Union Maros Sefcovic reported. Sefcovic said that the competition was very tough, but he was confident that Caspian gas would reach Europe before 2020 via the Southern Gas Corridor. “An enormous investment was made. The project is…
DetailsAzerbaijan’s state oil company SOCAR made a decision to extend the term of a letter of guarantee on the tender to buy a 66-percent stake in the Greek national gas transmission system operator DESFA for another month, Anar Mammadov, SOCAR Energy Greece executive director, reported. “We are trying to find a mutually acceptable solution”, he…
DetailsThe interconnecting gas corridor between Macedonia and Greece will use the Trans-Adriatic Pipeline (TAP) for supply of natural gas from Azerbaijan, CEO of Macedonian Energy Resources Skopje company Krste Miladinov reported. TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijan’s Shah Deniz gas and condensate field to the EU countries.…
DetailsIn the coming years, Kazakhstan plans to significantly increase the exports of grains to the market of China – to 1-1.5 million tons annually since 2017-2018 period, with up to 2-2.5 million tons by 2020, the Chairman of the Grain Union of Kazakhstan Nurlan Ospanov declared. According to him, Kazakhstan will increase grain exports to…
DetailsA need will emerge to transport oil from Kazakhstan’s Kashagan field through Azerbaijan when Phase 2 of the field’s development starts, the press service of the Kazakh Energy Ministry reported. Production at the Kashagan field started in October. Several years will be needed for it to enter the second phase of development, although the exact…
DetailsInflation rate in Kazakhstan hit 6.2% in January-October, Statistics Committee of the Ministry of National Economy of Kazakhstan reported. Food prices have increased by 5.7%, non-food items’ prices have gone up by 7.6%, and paid services’ prices have increased by 5.4% since early 2016. Kazakhstan’s inflation rate over the 12 months ending in October amounted…
DetailsUkrainian farmers are completing sunseed harvesting. As of October 31, sunseed was gathered from 5490.5 thousand ha or 93% of the intended area (5916.2 thousand ha), up by 11.8% YoY (4909 thousand ha). Farmers obtained 12023.3 KMT of sunseed with the average yields of 2.19 MT/ha, which is all-time high for Ukraine. In 2015 farmers…
DetailsNatural gas production in Ukraine in January-October increased by 0.9% (by 151.8 million cubic meters) YoY, to 16.661 billion cubic meters. According to PJSC Ukrtransgaz, in October gas production amounted to 1.713 billion cubic meters, up by 0.5% YoY. In October, in particular, gas extraction by PJSC Ukrgazvydobuvannia amounted to 1.23 billion cubic meters, PJSC…
DetailsThis year ViOil company invested 100 million UAH in the capacity modernization of Vinnitsa oil and fat complex. Daily crushing capacity is now increased to 3 KMT of oilseeds, which will contribute 30% to crushing productivity. In 2013 ViOil industrial group launched its second oil extracting plant at Vinnitsa complex with the project capacity of…
DetailsBerdyansk Commercial Sea Port is ready to invest $10 million in construction of a grain terminal, and use the experience of the city Gdansk in Poland, the head of the port Nikolai Ilyin declared. The port is a public company, and it is ready to take investments. The port can provide an opportunity to invest…
DetailsTo date the Ukrainian market of oilseeds (sunflower seed, soybeans) demonstrates high moisture indicators, which exceed the standard. According to market operators, the moisture content of sunflower seed varies within the range of 11-16%, and soybeans – 12-18%. The basic values for moisture content of sunflower seed total no more than 8%, soybeans – no…
DetailsAs of November 1, Ukrainian agrarians harvested 54.863 million tons of grains throughout the areas of 12.685 million ha, or 89% of the plan. The average yield totaled 4.33 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 54.94…
DetailsIn the current season the Black Sea region has become the key player on the world wheat market by achieving record high productivity during the 2016 harvesting campaign. No doubt, in the 2016/2017 marketing year the region will confirm the leadership as world largest wheat supplier. But will the key countries of the region sell…
DetailsAeroflot has taken delivery of its new A321 aircraft equipped with aerodynamic wing-tips known as Sharklets. The aircraft is named in honour of Alfred Schnittke, a world-famous composer. The A321 airliner is designed in a two-class composition with 16 seats in business and 170 in economy. Aeroflot operates A321 aircraft across its European and domestic…
DetailsThe need for the main haulage cargo, passenger and shunting locomotives for 2017 is 2,492, while by 2025 the need would expand by some 16%, to 2,881 locomotives. According to the press service of the public joint-stock company Ukrzaliznytsia, the company calculated that by 2025 the need in acquiring new main haulage locomotives was around…
DetailsIn Ukraine linseed belongs to a niche of agricultural crops, which require further advanced processing and are used in related industries such as pharmaceutical, confectionery, textile and others. Export duty at 23% set in 1999, which triggered acute reduction of linseed acreage, was an obstacle for linseed production recovery in Ukraine. Currently, the linseed export…
DetailsThe number of LNG powered vessels in the Baltic region will more than triple totaling 250 units by 2019, Kirill Lyats, CEO of LNG Gorskaya, reported.
According to him, 80 vessels driven by LNG (mostly Norwegian) are operating in the region today. (Portnews/Business World Magazine)
Biometric airport equipment recommended by Russian inspectors should arrive in Egypt sometime in November, Egyptian Civil Aviation Minister Sherif Fathy said. “It should arrive in Egypt in mid-November. We will need some time to install it, then we will contact our Russian colleagues and discuss our further steps”, Fathy reported. Acting on Russia’s recommendation following…
DetailsDTEK Energo will buy 30,000 tons more gas coal in Poland in addition to earlier contracted 100,000 tons. The company will supply it in November to Burshtyn and Dobrotvirska thermal power plants (TPPs, managed by DTEK Zakhidenergo), the press service of the company has reported. The press service said that first wagons with Polish coal…
DetailsShareholders in private joint-stock company AMD Illichivsk (Odessa region) have permitted the company’s board to refinance a credit line with the limit of $30 million (765.98 million UAH). According to a company report, the decision was made at an extraordinary general meeting of shareholders on October 28. The shareholders authorized the board of ADM Illichivsk…
DetailsFollowing a surge of public bewilderment over the riches declared by Ukrainian officials and members of parliament under a new system of electronic declaration of the personal financial status, Ukrainians have come up with proposals to make high-rank personalities invest the resources declared in the national economy. A petition for this was registered at the…
DetailsChina’s Silk Road Economic Belt concept has been adapting to Russia’s Eurasian integration program, Russia’s ambassador to China Andrei Denisov said. “There has been significant progress in determining the mechanism of interaction between the Eurasian integration project and the Silk Road concept”, the ambassador said. “We have an opportunity to boost cooperation in all areas”,…
DetailsThe largest bank in Ukraine, PrivatBank (Dnipro) posted a 6.5-fold rise YoY in profit in January-September, to 592 million UAH, the bank has said in a report. Net interest income (before payments to reserves) over the period reached 3.085 billion UAH (3.281 billion UAH in January-September 2015). Commission revenue grew by 71%, to 7.587 billion…
DetailsBaltic Fuel Company (BFC) says it has obtained a final permit from the Federal Marine and River Transport Agency (Rosmorrechflot) for construction of Marine Oil Terminal “Turukhtanniye Islands” within the Big Port St. Petersburg. This document approves of the construction of the entire complex of assets. The permit for construction of this terminal issued by…
DetailsSix new outbreaks of African Swine Fever (ASF) have been reported on pig farms and backyard/village units in Ukraine.
The outbreaks were reported in the north and south of the country in the areas of Kharkov, Odessa, Nikolayev and Poltava.
In total, there were 11 cases. (ThePigSite/Business World Magazine)