On September 27, Uralkali held its extraordinary general meeting of shareholders (EGM) in the town of Berezniki (Perm Territory). Uralkali’s EGM elected the new board of directors, including Sergey Chemezov, Dmitry Konyaev, Dmitry Lobyak, Luc Maene, Sir Robert Margetts, Dmitry Mazepin, Dmitry Osipov, Paul Ostling and Dimitry Tatyanin. The EGM also elected the new revision…
DetailsUkrainian farmers continue to harvest sunflower. As of September 26, 3160.6 thousand ha had been threshed, or 53% of the planned area (5916.2 thousand ha), down by 2% YoY (3227 thousand ha). 6757.6 KMT was obtained with the average yield of 2.14 MT/ha (in 2015 – 6619 KMT with yield of 2.05 MT/ha). Soybeans had…
DetailsUkraine, that lost three places in the Global Competitiveness Index (GCI) published by the World Economic Forum a year ago, has fallen six places more and was 85th among 138 countries. Ukraine had low scores in the following areas: financial market development (130th), institutions (129th), macroeconomic environment (128th), goods market efficiency (108th) and business sophistication…
DetailsIn August Ukraine exported 2851.2 KMT of wheat, up by 50% YoY (1892.8 KMT). Over the first two months of the current season Ukrainian exporters shipped 34% more wheat than over the same period of last season (3575.5 KMT against 2662.4 KMT in July-August 2015/16). Thailand is still the key importer of Ukrainian wheat with…
DetailsAs of September 26, winter crops had been sown at 2158 thousand ha, or 29% of the forecast area (7374 thousand ha). This included 2024 thousand ha of winter wheat and triticale (33% from the planned 6198 thousand ha), 79 thousand ha of rye (54% of 147 thousand ha), 55 thousand ha of barley (5%…
DetailsThe results of a survey of agrarians of Ukraine conducted by the Ukrainian Agribusiness Club (UCAB), showed a significant improvement relative to August 2015 of the business climate in Ukraine agriculture, the press service of the UCAB reports. “In August for the first time since the introduction of ABI, the business climate in Ukraine’s agriculture…
DetailsThe construction of the Trans Adriatic Pipeline (TAP), which is aimed at transporting Azerbaijani gas to Europe, is underway. TAP tweeted on September 28, that over 30 kilometers of steel pipes had already been strung along TAP’s route in Greece and Albania. TAP project envisages transportation of gas from the Stage 2 of development of…
DetailsUkraine’s State Property Fund (SPF) seeks to sell private joint-stock company President Hotel, 51% of shares in Zaporozhye Titanium and Magnesium Works and 50% in public joint-stock company Azovmash. This is outlined in the fund resolution No. 1763 dated September 23. In addition, the fund intends to sell almost 100% of shares in Ukrainian Bank…
DetailsAzerbaijan’s state oil company SOCAR has extended the term of a letter of guarantee on the tender to buy a 66% stake in the Greek national gas transmission system operator DESFA until October 31, SOCAR said in a message. The message says that as a part of his visit to Greece, SOCAR head Rovnag Abdullayev…
DetailsAzerbaijan’s state oil company SOCAR will additionally produce more than 6,200 tons of oil per year thanks to the commissioning of a new horizontal well at the Western Absheron field in the Caspian Sea, SOCAR said in a message. Oil is extracted from the well bore within the range of 761-678 meters at a flow…
DetailsRussia lifts ban on importation of fruit and vegetables from Egypt, except potatoes, from October 1, Russia’s Federal Service for Veterinary and Phytosanitary Surveillance (Rosselkhoznadzor) reported. “Starting from October 1”, the Ministry announced. On September 22, Rosselkhoznadzor imposed temporary restrictions on imports of plant products from Egypt. “Due to continuing supplies of quarantineable products unsafe…
DetailsRussia is seeing good moisture levels for winter crop sowings said Andrey Sizov Jr of the influential Moscow-based analysis group SovEcon. This week the European Commission flagged “concern” about dry weather in parts of Russia, which could harm winter wheat prospects. But Sizov was upbeat about winter wheat prospects. “Things actually are looking quite well…
DetailsThe government of Russia has officially made public the decision to zero down the export duties on wheat. The web-site of the government posted the corresponding resolution #966 dated September 26. According to the signed resolution, the zero rate for the export duty on grain has been set until July 1, 2018. The previous government…
DetailsThe current zero rates of export duties on Russian wheat will not reduce federal budget income, the Deputy Minister of Finance Ilya Trunin declared. According to him, the Ministry does not expect for any budget losses in connection with such a decision. The government of the Russian Federation zeroed down the export duties for wheat…
DetailsRussian airline S7 Group, which comprises of Siberia Airlines and Globus, has signed a deal with Sea Launch group of companies to buy facilities of the Sea Launch spacecraft launch service, including the maritime platform Odyssey. Under the deal, S7 Group will buy the Sea Launch Commander ship, the Ocean Odyssey platform with installed rocket…
DetailsRussian fertilizer producer EuroChem has agreed with its shareholders on a $1 billion perpetual loan with a possible expansion to $1.5 billion to balance its covenant debt, a representative of the company reported. “This is a contribution into the capital, through providing a ‘perpetual loan’. The sum is $1 billion and can be raised to…
DetailsIran has not received any offers to be excepted from an oil production freeze deal from OPEC, Iranian Oil Minister Bijan Zangeneh reported. On Tuesday, a high-ranking source in the Algerian delegation to the International Energy Forum said that Saudi Arabia was ready to cut its oil production to January levels if Iran froze its…
DetailsIn July Kazakhstan exported 206.66 KMT of wheat. In just eleven months of 2015/2016 Kazakhstan exported 12.5% more wheat than over the same period of the previous season (3457 KMT against 3070 KMT during July-September 2014/2015 MY). During this period, Kazakhstan increased its supply to virtually all wheat markets, except Azerbaijan. Kazakh wheat shipments to…
DetailsThe office of the Indian trading company ‘Global Trading’ was registered in Azerbaijan. The legal representative of the new company is Namig Veysalov. The company was registered in the Ministry of Taxes of Azerbaijan on June 6. Headquarters of the Global Trading company is in Delhi. The company deals with selling and production of paper,…
DetailsIn October Russia will reduce the export volumes of grains to 3.7-3.8 million tons, as opposed to nearly 4 million tons expected in September and 3.5 million tons in October 2015, the Deputy Director of the strategic management department at Rusagrotrans CJSC Igor Pavensky reported. In particular, wheat will form 3-3.1 million tons from the…
DetailsThe 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…
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