Ukraine: international reserves keep increasing

Preliminary data suggests that as of July 1, Ukraine’s international reserves amounted to the equivalent of $13.98 billion. The stock of international reserves keeps increasing for a third consecutive month. In June, international reserves expanded by 3.3% MOM, or by $452 million. In annual terms, international reserves rose by 36.3% YoY. June’s increase in international…

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Ukraine: hearings of Naftogaz and Gazprom’s gas contract in Stockholm arbitration court to start late September 2016

Hearings by the Arbitration Institute of the Stockholm Chamber of Commerce in litigation between national joint-stock company Naftogaz Ukrainy and Russia’s Gazprom over the natural gas supply and transit contracts signed early 2009 will start late September and late November or early December, respectively, Naftogaz Ukrainy board chairman Andriy Kobolev said. He said that the…

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Azerbaijan: Hungarian Eximbank ready to increase funding for projects

Hungary is ready to increase funding for the projects in Azerbaijan through the state Eximbank in case of necessity, Imre Laslotsky, Hungarian extraordinary and plenipotentiary ambassador to Azerbaijan, said. “Eximbank’s credit line worth $200 million was opened for these purposes within the framework agreement”, Laslotsky said. “In case of necessity, the amount of funding can…

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Ukraine: Gazprom’s claims against Naftogaz for take-or-pay condition to reach $60 billion

The total claims of Russia’s Gazprom against the national joint-stock company Naftogaz Ukrainy for the take-or-pay condition outlined in the 2009 contracts and challenged in court could reach $60 billion by 2020, Naftogaz Ukrainy commercial director Yuriy Vitrenko has said. He said Gazprom’s claims had so far amounted to $29.2 billion, and, taking into account…

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Belarus: dairy supplies to Russia

Belarusian producers and Russian sales networks discussed the supplies of dairy products at a meeting in Moscow. The Belarusian diplomatic mission hosted the meeting that featured Russian experts in the quality of chain stores and representatives of quality units and manufacturing technicians of the Belarusian dairies. The meeting highlighted cooperation in the supplies of Belarusian…

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Belarus: Philippines explore possibilities of expanding economic cooperation

Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to the Russian Federation Igor Petrishenko met with Ambassador Extraordinary and Plenipotentiary of the Republic of the Philippines to the Russian Federation and concurrently to the Republic of Belarus Carlos D. Sorreta. The parties discussed the entire range of bilateral relations in the context of the…

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Ukraine: corn stocks down

According to the State Statistics Committee, as of April 1, stocks of grain and pulses in Ukraine totaled 7.98 MMT, down by 20% YoY. Corn stocks decreased by 36%, to 3.073 MMT compared to 4.814 MMT on June 1, 2015. Wheat stocks went down by 3.6%, to 3.867 MMT, barley – by 13%, to 693…

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Ukraine: Polish Air Force to get aircraft weapon for MiG-21 fighter jets

Ukraine will ship aircraft weapons for Mikoyan MiG-21 fighter jets of the Polish Air Force. The military equipment inspectorate of Poland’s National Defense Ministry reported on its website that the consortium formed by Ukraine’s Spectechnoexport and Poland’s WB Electronics won a tender to supply R-27P1 medium-range air-to-air missiles for MiG-21 fighter jets of the Polish…

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Russia: crude oil exports up in H1 2016

Crude oil exported by the Russian Federation between January and June increased by 1.5% compared to the six months period of 2015 and amounted to 127.78 million tons, the Ministry of Energy said. In June, Russian crude oil exports reached 20.61 million tons. Oil and gas condensate production in June was 44.37 million tons. (Portnews/Business…

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Uzbekistan: pharmaceutical plants construction starts at SIEZ Navoi

Indian pharmaceutical company Bravo Pharmaceuticals Pvt. Ltd. Started construction of the plant on production of ready medicaments at the special industrial-economic zone “Navoi”. Bravo Pharmaceuticals, registered at SIEZ Navoi, will produce medical products in line with the WHO EU GMP standard. The project cost is about $2.6 million. The project will provide jobs for 100…

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