The restoration pace of the Ukrainian economy is predictable and insufficient, IMF Resident Representative Jerome Vacher has said. The economy has achieved macroeconomic stabilization, the IMF sees a gradual improvement of the economy – an increase of 1.5%, as the IMF predicts for 2016. But it’s a moderate recovery and the IMF would like to…
DetailsThe European Bank for Reconstruction and Development (EBRD) has received an application from the Belarusian government with a request to provide pre-privatization services for five prominent enterprises, Francis Delaey, the EBRD’s Head of Office in Belarus, reported. The EBRD has received an inquiry from the Belarusian government with a request to assist in pre-privatizing five…
DetailsThe European Union (EU) has announced the doubling of the bilateral assistance package in support to private sector development and strengthening institutions in Belarus from 14.5 million euro in 2015 to 29 million euro in 2016. The EU Representative Office in Belarus posted a message to this effect on its official web site. The funding…
DetailsDry weather during the second half of September triggered further decline in soil moisture stocks. Almost across all the territory of Gomel, in most areas of Brest, in the south-east of Mogilev region topsoil was almost completely withered that was unfavorable for winter crops sowing and sprouts emergence. In some regions soil moisture deficit hindered…
DetailsBelarus increased gas output by 0.1% YoY in January-August to 145.3 million cubic meters, the National Statistical Committee said in a report. In August alone, Belarus’ gas output grew by 14.8% YoY to 18.1 million cubic meters. Belarus does not have its own gas fields. Within the limits of the Prypyats Flexure, where oil exploration…
DetailsBelarus and Germany explored opportunities for investment cooperation during the Day of Belarusian Economy at the Hamburg Chamber of Commerce on September 27, the press service of the Belarusian Ministry of Foreign Affairs reported. “The emphasis was placed on the opportunities for interaction and investment cooperation between Belarus and Germany in the context of Belarus’…
DetailsAzerbaijan will receive the first AZ8A freight electric locomotives in summer 2017, Bernard Peille, managing director of the French company Alstom’s South CIS Cluster, reported. These locomotives are produced by Alstom at the production site of the Elektrovoz Kurastyru Zauyty (EKZ) joint venture in Kazakhstan. Peille said the assembly process of electric locomotives had advanced…
DetailsAzerbaijan took the 37th place in the Global Competitiveness Report 2016-2017, prepared by the World Economic Forum. The research covered 138 countries. Azerbaijan ranked the 40th among 140 countries in the previous report. As in the previous report, Azerbaijan holds the highest position among the CIS (Commonwealth of Independent States) countries. The country is followed…
DetailsOn September 15, Agroprodservice launched a new soybean crushing plant, which it had been building since March.
Crushing capacity is 40 KMT soybeans a year. Finished products will be soybean cake and non-refined soybean oil. Previously, company’s soybean cake production capacities equaled 1400 tons a month. (UkrAgroConsult/Business World Magazine)
In the 2015/2016 season Ukrainian farmers obtained all-time high soybean crop – 3927 KMT. Firstly, this result was achieved owing to acreage expansion to record 2200 thousand ha. According to UkrAgroConsult, over the past ten years Ukrainian soybean exports increased significantly, while markets were diversified. Export geography already included 33 countries. Given the persisting demand…
DetailsPrecipitations have been observed in the Southern and Eastern parts of Ukraine since September 20. Abundant rains were seen in Odessa region and in the western regions. According to meteorologists it will be raining this week as well and precipitations will replenish soil moisture stocks in the key winter wheat producing regions. Dry weather conditions…
DetailsAccording to forecasts of Russian experts, in 2016/2017 will be the first time that Russia can have excess in sugar stocks and likely will lead to sharp export increase. According to preliminary forecasts, export may be 100-200 KMT (in 2015/2016 exports stood at 6 KMT). The main rival to Russian sugar will be sugar of…
DetailsAs of September 26, Ukrainian agrarians harvested 41.955 million tons of grains throughout the areas of 10.603 million ha, or 74% of the plan. The average yield totaled 3.96 ton/ha, the Ministry of Agrarian Policy and Food of Ukraine reported. At the same time, on the same date last year production volumes reached 40.9 million…
DetailsUkrAgroConsult indicates the following tendencies: – during 3 months of the season Ukraine shipped abroad over 57% of total rapeseed export capacity; – Ukrainian rapeseed stocks will be enough for only 1-2 months of trade; – soybean productivity is significantly higher than last year; – sunflower seed export forecast for 2016/2017 was raised; – sunflower…
DetailsIssuing of bonds of Azerbaijan’s state oil company SOCAR within the country will make it possible to diversify the company’s portfolio, SOCAR vice-president for economic issues Suleyman Gasimov said. “Additional financing within the country creates an opportunity to attract funds on more favorable conditions. SOCAR will earn money from issuing these bonds, probably not directly,…
DetailsAzerbaijan’s state oil company SOCAR will produce over 5,800 tons of oil annually through commissioning a new well at the offshore Oil Rocks field, SOCAR said in a message. Oil is extracted from a wellbore within the range of 1,617-1,612 meters, according to the message. SOCAR is implementing a program to stabilize and increase the…
DetailsSilk Way Helicopter Services (SWHS MMC) commercial helicopter company and Russian helicopter holding Russian Helicopters signed a letter of intent within the ADEX 2016 International Defense Exhibition on September 27. The document was signed by Director General of Silk Way Helicopter Services Azer Sultanov and Deputy Director General of JSC Russian Helicopters Igor Chechikov. According…
DetailsThe hot dry summer in the Black Sea region is stirring concerns for the next winter wheat crop, as the European Commission warns on Russian prospects after a hot dry summer. While US wheat sowings are expected to fall sharply this year, in response to low prices, sowings in Russia are expected to boom, thanks…
DetailsRussian wheat exports haven’t lived up to expectations so far this season as falling prices made some growers reluctant to sell grain to traders amid a halt in purchases by Egypt, the world’s largest buyer. Outbound shipments in the three months since the campaign started in July would probably amount to 9 million metric tons,…
DetailsRussia will lift the ban on deliveries of all fruits and vegetables from Egypt except for potato, Russian veterinary and phytosanitary watchdog Rosselkhoznadzor said. “Parties reached an agreement following the meeting on resumption of fruits and vegetables supplies from Egypt to Russia, except for potato, provided that the Egyptian side meets all Russia’s requirements in…
DetailsRussia will not take part in an informal OPEC meeting in Algeria on Wednesday, Secretary General Mohammad Barkindo reported. “No, this is a consultative meeting of OPEC”, he said. “We have to wait, consultations continue right now,” he said when asked whether OPEC members could make a decision to freeze oil production at the meeting.…
DetailsAccording to preliminary data, in August Russia exported 3217.7 KMT of wheat, up by 7.7% YoY. Over two months of season 2016/2017 wheat exports from Russia increased by more than 10%, to 4771.9 KMT against 4324,2 KMT in July-August 2015/2016 MY. Turkey, Egypt and Bangladesh remained the main importers during this period. In August, Russia…
DetailsAs of September 26, Russian agrarians continued harvesting grains and pulses. Agrarians harvested grain crops throughout the general areas of 41.6 million ha (on the same date in 2015 – 36.9 million ha), or 88.1% of the planned areas (47.3 million ha). The produced volumes reached 109.2 million tons of grains, with the average yield…
DetailsIn the current year, the general grain harvest in Russia will not exceed 113 million tons in clean weight, the Director of the Department of plant growing, chemicalization and plant protection at the Ministry of Agriculture Petr Chekmarev announced. The Ministry lowered the forecast of maximum harvest volumes from 116 million tons to 113 million…
DetailsRussian state-controlled telecom operator Rostelecom has asked the government to apply the interconnection tariff reform not only to local and zonal calls, but also to intercity traffic, which will bring the operator preferences. The operator said that otherwise a decree of President Vladimir Putin would be breached, as he had ordered creation of equal conditions…
DetailsThe growth of Russia’s gross domestic product (GDP) excluding seasonality was close to zero in July-September, while in annual terms GDP contracted by 0.4-0.7%, the Central Bank said in a research note. “The GDP growth is estimated at close to zero in the third quarter compared with the previous quarter and excluding seasonality”, the research…
DetailsOn September 27, 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 63.99 thousand tons of grains (from the proposed volume of 64.665 thousand tons) valued at 640 million rubles, the press-service of NAMEX declared. In particular,…
DetailsOAO Mogilevliftmash elevator plant says it has invested Br6.3 million ($3.234 million) in production development in January-August, up by 7.9% YoY. The money spent on equipment purchases account for 83% of the total investment – Br5 million ($2.567 million): Mogilevliftmash purchased 8 units of equipment, including a paintshop for supersized parts (by Spain’s LAGOS S.A.),…
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