The international reserves of Ukraine declined by 1.1% YoY in June, to $17.978 billion, the press service of the National Bank of Ukraine reported. “The international reserves of Ukraine as of July 1 amounted to $17,978.2 million (in equivalent), according to preliminary data. They decreased by 1.1% over June, mainly due to payments on public…
DetailsUzbek joint-stock commercial bank Asia Alliance Bank together with Kazakhstan’s export insurance company KazakhExport and “Alfa Bank” JSC have successfully executed a deal for a total of $1.5 million. The main objectives of the bank’s foreign economic activity are to attract resources of the world financial institutions for financing the sectors of the economy of…
DetailsBelarus’ gold and foreign exchange reserves totaled $6.83 billion as of July 1, the Information and PR Department of the National Bank of the Republic of Belarus (NBRB) reported. According to the preliminary data, Belarus’ international reserve assets made up $6.831 billion as of July 1. In June gold and foreign exchange reserves decreased by…
DetailsAccording to the information released by Statistics Estonia, the consumer price index (CPI) in June was up by 0.9% MoM and by 4% YoY. Compared to June 2017 goods were 4.1% and services 3.9% more expensive last month. Regulated prices of goods and services rose by 11.2% and non-regulated prices by 2.1% YoY. Compared to…
DetailsExperts say the ongoing labor migration Ukraine is seeing now may impede the country’s economic recovery, which was observed in the first half of 2018. “The only positive example in the Ukrainian realities is what the IT sector has done. Firstly, the introduction of taxation at 5% of the amount of income means the development…
DetailsRevenues of local budgets in January-June grew by 23.8% YoY, or by UAH 20.741 billion, to UAH 107.704 billion. Over the said period, the government has carried out interbudgetary transfers to local budgets worth UAH 169.808 billion, which is 95.3% of the allotted appropriations, as reported on the website of the Ministry of Finance of…
DetailsGeorgia exported 38.2 million bottles of wine to 48 countries in the first six months of 2018, announces the Georgian National Wine Agency. In January-June Georgia generated about $90.3 million from the sale of wine abroad. Revenue increased by 28% YoY, while the volume of exports increased by 21%, said the Georgian National Wine Agency.…
DetailsAccording to the Estonian Ministry of the Interior, building the infrastructure and surveillance system of the border between Estonia and Russia is set to cost around EUR 250.3 million over the course of 11 years, with additional maintenance costs of EUR 70 million to be needed down to 2026. At present the available resources to…
DetailsIranian Deputy Minister of Industries, Mining and Trade Mohsen Salehinia said Iran Khodro Group (IKCO) planned to open new production line in neighboring Azerbaijan in a bid to increase its annual production there. “Iran Khodro is equipping its production line in Azerbaijan and plans to increase its daily output from 4 to 8 cars,” Salehinia…
DetailsThe German federal company Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) mbH launches a new project to support the Energy Efficiency Fund of Ukraine, Vice Prime Minister-Minister for Regional Development, Construction and Housing Hennadiy Zubko wrote on his Facebook page. “We continue to unite international partners around the energy efficiency reform and the launch of the…
DetailsPresident of the State Enterprise Antonov Oleksandr Donets says his enterprise plans to build from 5 to 10 aircraft in the next five years under a base-case scenario. “The An-178 is my priority, because Antonov has always been famous for its transport aircraft. Then we will launch the manufacture of the An-158 aircraft. We would…
DetailsThe Estonian Navy is set to modernize its three Sandown class minehunters for EUR 30 million, it has been announced. The modernization is to include improvements in mine clearance and marine surveillance capacities. The vessels will get new, identical, mine clearance systems which will be more up-to-date and reliable, thus requiring less maintenance. The project…
DetailsBelarus is turning into a stably profitable investment destination, Sberbank President, Chairman of the Board German Gref has said. German Gref noted that the bank found a stable and lucrative investment market in Belarus. “The operations in Belarus generated a 17% return on capital last year, which is pretty good for the banking sector, although…
DetailsThe volume of foreign deposits in Latvian banks, including ABLV Bank in the middle of its liquidation, declined to 28.7% in June when compared to 39.7% at the end of 2017, according to the latest information from the Finance and Capital Market Commission. Without ABLV Bank, the volume of foreign deposits comes down to 22.1%.…
DetailsThe state budget of Ukraine in January-June received UAH 449.056 billion ($17.07 billion) in revenue, down by UAH 14.128 billion ($536 million), or by 3.1% from the target for the said period. Compared with the same period in 2017, the state budget revenues in the first half of 2018 increased by UAH 54.150 billion ($2.06…
DetailsAVK confectionery company has launched exports to Malaysia. “We have already handled the first three deliveries of sweets and are working on new orders,” AVK Deputy Director General for Strategic Development Andriy Radchuk declared. As reported, the first 50 tons of Ukrainian sweets have already been supplied to Malaysia. Radchuk says the company plans to…
DetailsThe production of vodka declined by 45% YoY in January-May. According to information provided by the National Statistical Service, that of whiskey has also decreased (-43%). The production of brandy and champagne was down by 10% and 5%, respectively. Meanwhile, more liquor, wine and beer were produced in the first five months of 2018. (PanARMENIAN/Business…
DetailsThe state-owned Estonian airline Nordic Aviation Group (NAG), operating under the Nordica trademark, last year made a profit of EUR 900,000, and the number of Nordica’s passengers grew by 68% YoY. Nordica’s second fiscal year was very successful for the company. The company’s revenue was EUR 83 million, while in 2016 it totaled EUR 51…
DetailsFrom July onward, Norvik Bank will be using a new authorization tool for internet banking services – Google Authenticator, as confirmed by the bank. The bank notes that it is a modern and secure mobile app that offers quick authorization of payments and other transactions in e-Norvik Internet banking service. This app, according to the…
DetailsUkraine and the UK have welcomed ongoing consultations on ensuring the implementation of the Association Agreement between Ukraine and the EU, which includes a Deep and Comprehensive Free Trade Agreement (DCFTA), facilitating trade worth $2.35 billion between the two countries after the UK leaves the EU, the press service of the Ministry of Economic Development…
DetailsIn 2017 exports of Ukrainian goods to Canada grew by 74.4% (or $21.5 million) and amounted to $50.4 million, the press service of the Economic Development and Trade Ministry wrote on Twitter. “Soon it will be two years since the Canada-Ukraine Free Trade Agreement was signed. In 2017 exports of Ukrainian goods to Canada rose…
DetailsPolish-based PKP Intercity plans to launch a direct railway service between Przemysl and Berlin in 2018 in view of growing traffic on the eastern border of Poland and the migration of Ukrainian citizens to EU countries. “Ukrainian routes have turned out to be a hit. Trains from Przemysl to Lviv and Kyiv transport more and…
DetailsOn July 1, 11 of Estonia’s 15 counties introduced free public transport on county buses for local residents, much like the scheme already running in Tallinn. This caused some confusion. Tartu County is one of the areas where buses are now free of charge for residents. While not too many passengers made use of their…
DetailsThe Lithuanian government backed the government’s proposal to raise excise tax rates for cigarettes and other tobacco products, including liquids used in e-cigarettes, and to subject nicotine free e-liquids to an excise duty starting next March. The Seimas approved the government’s three-year plan for increasing the excise duties by 6-14% in a vote of 100…
DetailsThe living wage in Ukraine grew by UAH 77, to UAH 1,777 from July 1. This is envisaged in the Law of Ukraine on National Budget for 2018. “Set the living wage from January 1 at UAH 1,700 per person per month, from July 1 – at UAH 1,777, and from December 1 – at…
DetailsUkraine and Denmark successfully cooperate in the field of renewable energy and energy efficiency, Chairman of the State Agency on Energy Efficiency and Energy Saving of Ukraine Sergiy Savchuk said during the 2nd Ukraine Reform Conference in Copenhagen (Denmark). In particular, Savchuk noted that the foundation for the partnership had been laid by the bilateral…
DetailsThe majority of banks whose business activities are associated with servicing non-residents will continue working in Latvia, as confirmed by Finance and Capital Market Commission Peters Putnins. He said that a previous outlook stated that certain banks could cease working in Latvia because of the restriction for banks to cooperate with shell companies. “This outlook…
DetailsThe projects being realized in Akmola region will let in years to come to scale up massively development of alternative energy sources, the regional communications service of Akmola region internal policy department reports. Development of green projects will raise the renewables share up to 46.2% by 2021 out of the total energy output in Astana…
DetailsBelarus-made agricultural machines traditionally sell well in Lithuania. Ambassador of Belarus to Lithuania Alexander Korol made the relevant statement. The diplomat said: “About 700 tractors were sold in Lithuania last year alone. Lithuanian farmers unwaveringly prefer Belarusian machines. The Belarusian tractor maker MTZ has a representative office in Lithuania.” Alexander Korol is convinced that when…
DetailsArrears in wage payments across Ukraine as of June 1 increased by 3.5% YoY, amounting to UAH 2.561 billion ($95.46 million), the State Statistics Service reports.
Arrears in wages to employees of economically active enterprises increased by 6.5%, to UAH 1.411 billion ($53.87 million). (UNIAN/Business World Magazine)