The Islamic fund on microfinance might be created in Azerbaijan, a source on the country’s finance market reported. The source said that the issue was being discussed by Azerbaijan’s microfinance organizations. “The discussions are still at a very early stage, but if market participants agree and adopt a certain decision, then international financial organizations can…
DetailsIranian Mahan Air airline will launch regular flights on Tehran-Baku-Tehran route from October 31, press service of Heydar Aliyev International Airport reported. Azerbaijan State Civil Aviation Administration issued the relevant permission after receiving a request from the airline to perform flights three times a week. Flights are scheduled three times a week on Tuesdays, Wednesdays…
DetailsJakarta plans to purchase Russian-made helicopters in order to use them in the province of West Java in particular, Indonesia’s ambassador to Russia Wahid Supriyadi said. “We would like to purchase helicopters from Russia. There are many islands in West Java, so the helicopters are in great demand there”, the ambassador said at a meeting…
DetailsOn September 28, the credit rating of Moscow Domodedovo Airport was affirmed at the same level, which evidences sustainability of the airport’s business model in challenging market conditions. According to Fitch Ratings’ evaluation, the external environment and associated changes have a certain impact on the company, however the removal of a set of limitations will…
DetailsMechanisms to support the export of Azerbaijani products will apply only to goods produced in the non-oil sector, head of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Rufat Mammadov reported. However, the entrepreneurs, who can benefit from these mechanisms, will face no restrictions. “Export process is quite difficult. First of all, entrepreneurs should have…
DetailsPower plants of the Azerenergy JSC, Azerbaijan’s main electricity producer, generated 16.5 billion kilowatt hours of electricity in January-September as compared to 16.8 billion kilowatt hours generated in the same period of 2015. Azerenergy’s power plants produced about 1.7 billion kilowatt hours of electricity in September. In 2015, Azerenergy produced more than 22.5 billion kilowatt…
DetailsChina has approved a list of Russian wheat, corn, rice, soy and rapeseed exporters and grain storage facilities, Russia’s Federal Service for Veterinary and Phytosanitary Oversight said in a statement. According to the document, China allowed imports from about 200 companies from the Omsk, Irkutsk, Novosibirsk, Amur, Sakhalin, Kemerovo, Zabaikalsky, Khabarovsk, Krasnoyarsk, and Primorsky regions…
DetailsBelavia has withdrawn its last two active Tu-154Ms from scheduled passenger service as of October 1. The type’s last regular flight was Minsk National-Gomel. The Belarus national carrier said the trijet would be used for charter flights ferrying workers to Belarus’s north. These services will continue until late December following which the aircraft will be…
DetailsAzersun Holding Group of Companies plans to bring the share of Azerbaijani raw materials in production at its enterprises to 40-50% this year, Abdolbari Goozal, chairman of the holding’s supervisory board, said. He also said currently the share of local raw materials in the holding’s production was about 30%. Raw materials for some kinds of…
DetailsAzerbaijani investors aim to build a petrochemical plant in Turkey’s eastern province of Van province’s governor Rahmi Dogan reported. Dogan said that the new plant would use modern technologies and help open more than 100 new jobs. He also noted that liquefied natural gas (LNG) and other raw materials for the plant would be delivered…
DetailsCustoms duties on the export of hides will be introduced in Azerbaijan for 5 years, according to the decision of the country’s Cabinet of Ministers published in the Azerbaijani official press. The changes, in particular, will affect the export of cattle hides, raw hides of sheep and lambs, including fresh, salted or dried hides. In…
DetailsAzerbaijan’s Energy Minister Natig Aliyev will take part in an informal meeting of the OPEC member states and non-members of the organization within the framework of the 23rd World Energy Congress in Istanbul, Azerbaijan’s Energy Ministry reported. The OPEC Secretary General Mohammad Sanusi Barkindo sent the invitation to Azerbaijan’s energy minister to participate in the…
DetailsAll countries involved in the North-South Transport Corridor project have connected to the cargo transportation process, reads the message of the ADY Express company, logistics operator of Azerbaijan Railways CJSC. The company implemented reception, handling and shipment of three out of five 40-foot universal containers loaded with electrical equipment and spare parts in Azerbaijan’s Astara…
Details36,5 млрд. грн. чистой прибыли заработали в 2015 г. 100 самых прибыльных аграрных компаний, выращивающих зерновые культуры. В прошлом году в Украине собрали 59,96 млн. т зерновых и зернобобовых, что на 6,1% меньше, чем годом ранее (63,8 млн. т), из которых в хозяйствах населения было собрано 23% урожая зерна. На продовольственное зерно пришлось 45,5% валового…
DetailsUkrzaliznytsia has increased the annual wagon repair plan from 19,370 to 29,970, including to secure the growing exports of grain that could be 5 million tons a month by all means of transport by the end of this year. “The anticipated harvest is 83 million tons of grain and 45 million tons for exports. Five…
DetailsBakcell, the first mobile operator and leading mobile internet provider of Azerbaijan, is pleased to announce the start of a new campaign in cooperation with the sole national postal operator of the country – Azerpost LLC, within the frames of the Ulduzum loyalty program. Within the frames of this campaign, any person, who transfers money…
DetailsIFRS net profit of LLC Aeroexpress for H1 2016 grew by 42.09% to 459.802 million rubles from 323.601 million rubles for the same period in 2015, the company reported. Revenue increased by 2.09% to 2.72 billion rubles from 2.664 billion rubles, operating profit – by 29.73% to 831.215 million rubles from 640.728 million rubles, pre-tax…
DetailsOPEC members will meet next week for talks on implementing an output cut deal, with Russia joining to discuss how producers from outside the group can participate in the plan, according to Venezuela’s oil minister. Ministers from OPEC members Saudi Arabia, Algeria, Gabon, Qatar and the United Arab Emirates will attend the meeting in Istanbul,…
DetailsUralkali, one of the world’s largest potash producers, announces its production results for Q3 and the 9 months of 2016. Uralkali produced 2.8 million tons of potassium chloride (KCl) in the third quarter of 2016. The company produced 7.9 million tons of KCl in January-September 2016. Uralkali is one of the world’s largest potash producers…
DetailsPrime Minister of Ukraine Volodymyr Groysman believes that the capabilities of Ukraine are potentially among the best in Europe and in three or five years it will become a successful country. “I am deeply convinced that our capabilities are now among the best in Europe and possibly in the world. I believe the capabilities we…
DetailsUkrainian bakery plants need 2.7 million tons of wheat flour per year. Each year the need in rye flour totals 320 thousand tons, the General Director and Chairman of the Board at the association Ukrhlibprom Alexander Vasilchenko declared. According to him, bread producers are concerned about decreasing of rye production in Ukraine, which results in…
DetailsUkrainian President Petro Poroshenko said that the country’s gas consumption fell by 30%. “Now Ukraine is consuming 30% less gas thanks to the mechanisms implemented”, he told students of the Shevchenko National University. He said tariff increases in the country were linked to the fact that Ukraine had gotten rid of dependence on Russian gas.…
DetailsIn the first half of 2016, the United States invested $710 million in Ukraine’s economy, the Ukrainian Economic Development and Trade Ministry reported on its Facebook page. “The United States is one of Ukraine’s most important partners, and relations between the countries become even stronger. The total trade turnover has come to $1.2 billion over…
DetailsIn August Ukrainian barley exports grew by 17% YoY and equaled 1924 KMT against 1019.5 KMT. During the first two months of 2016/2017 (July-August) Ukrainian exporters shipped 2204 KMT of barley, which is an absolute record for the period. Traditionally in August Saudi Arabia lowered its purchases, importing 371 KMT against 523 KMT in the…
DetailsRussian retailers are interested in selling Google’s Pixel, the first smartphone fully designed by the U.S. company, spokespeople for several companies reported. “Google’s previous models Nexus sold at Svyaznoy enjoyed some success among the fans of the most technically advanced smartphones”, Sergei Tikhonov, a spokesman for multi-channel retailer Svyaznoy, said adding that it was still…
DetailsRussia’s Finance Ministry may resume discussion about excises on sugared beverages in 2017, Deputy Minister Ilya Trunin reported. “The issue is delayed until the next tax policy is discussed. The next window of possibilities will appear in a year”, he said. In early 2016, the government considered introducing excise duties on palm oil and some…
DetailsThe Russian government has allowed oil major Rosneft to buy the government’s 50.08% stake in oil company Bashneft without an auction for 329.6 billion rubles, a source at the Energy Ministry reported. On September 30, First Deputy Prime Minister Igor Shuvalov said that the government had decided to resume preparations for the sale of its…
DetailsThe Russian Finance Ministry does not support a proposal by the Federal Antimonopoly Service to introduce a floating excise on engine fuel depending on global oil prices, Deputy Minister Ilya Trunin said. The official said that fuel excises were a source of replenishment of road funds. “This means that we will need to introduce floating…
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