Ukraine: rapeseed output down in 2016

Rapeseed harvesting is complete in Ukraine. According to UkrAgroConsult estimates, rapeseed production is likely to be 30% lower than last year. Reduction of harvesting area due to significant winter rapeseed losses (234 thousand ha) was the main reason for production decline. Nevertheless, rapeseed average yields appeared to be higher than expected and even higher than…


Tajikistan: citizens opposing economic integration with Russia

An article “Tajikistan Mulls EEU Membership, Feels Pull of Russia” posted on’s website notes that many Tajiks oppose economic integration with Russia Abdufattoh Ghoib, the head of Tajikistan’s Customs Service, announced on July 19, that the Tajik government was considering making an application to enter the Eurasian Economic Union (EAEU). Ghoib’s declaration followed an…


Russia: grain supplies to Palestine to go up

Russia plans to increase grain exports to Palestine from 70 thousand tons to 250-300 thousand tons, the Russian-Palestinian intergovernmental commission on trade and economic cooperation declared. The Palestinian party is interested in cooperation in the sphere of energy, health care, culture and agriculture. The first contract with the Palestinians for the supply of 70 thousand…


Ukraine: Asian investors ready to work

Ukrainian President Petro Poroshenko has stated that the investors from the South-East Asia are willing to invest in the Ukrainian economy. The President said this at the meeting of the National Council of Reforms. “We have not only European investors. Our talks during the visits to the South-East Asia show that today the investors are…


Belarus: UN social entrepreneurship project to be implemented in Grodno region

Plans have been made to implement a pilot project of the United Nations Organization to develop social entrepreneurship in several areas in Grodno region. The information was released during the latest meeting of UN Resident Coordinator in Belarus Sanaka Samarasinha and Grodno region Governor Vladimir Kravtsov. Sanaka Samarasinha explained: “It is a new project that…


Kazakhstan: oilseed planted area up

In Kazakhstan oilseeds planted area for 2016/2017 crop increased to 2118 thousand ha compared to 2101 thousand ha last year.

Planted area approached the 2014/20015 season’s level, when the acreage reached all-time high at 2413 thousand ha. Despite rains, weather conditions allowed farmers to conduct seeding within optimum time. (UkrAgroConsult/Business World Magazine)

Iran: NIOC signs oil contract with Lukoil

National Iranian Oil Company (NIOC) has signed oil contracts with a range of companies, including Russian oil producer Lukoil.

Other companies included OMV, Total and Pertamina.

Earlier in August, Russian ambassador to Iran Levan Dzhagaryan said Lukoil was considering development of two deposits near the Iranian city of Ihvaz. (Prime/Business World Magazine)

Belarus: IFRS to make corporate sector more transparent

Belarus’ move to adopt International Financial Reporting Standards (IFRS) and clarifications on January 1, 2017 will contribute to increasing the transparency of Belarus’ corporate sector for investors and creditors, Pavel Laschenko, EY Belarus Managing Partner, believes. The IFRS standards will acquire the same legal status as guidelines and provisions of the Finance Ministry of Belarus…


Ukraine: sale of Turboatom, Electrotyazhmash, State Food and Grain Corporation in 2017 approved

The government’s committee for economic, financial and legal policy has approved of a list of enterprises to be privatized in 2016-2017, among them are Turboatom, Electrotyazhmash, the United Mining and Chemical Company, the State Food and Grain Corporation, and a state stake in Zaporozhye Titanium and Magnesium Combine LLC. A respective draft resolution was approved…


Belarus to take part in EU4Energy program

Belarus will take part in the EU’s new program of technical support for the countries of the Eastern Partnership EU4Energy, the press service of the Energy Ministry reported. “Last week the Energy Ministry played host to a meeting between Director of the Energy Community Secretariat Janez Kopac and expert on renewable energy and energy efficiency,…