Ukraine International Airlines introduce Business Smart fares and offer early bookers, departing from the cities of Ukraine, to purchase Business Class tickets at attractive prices. Planning their trips in advance and purchasing Business Class tickets for UIA services on UIA website www.flyuia.com, at UIA Contact Center, as well as at UIA and partner ticket offices,…
DetailsThe staff of Mailu-Suu electric-bulb plant is against the sale of the company to the Chinese side. The plant is included in the list of objects of the Kyrgyz Ministry of Economy, which will be offered to China for the transfer of production capacity. Currently, the company produces more than 100 types of incandescent lamps.…
DetailsDuring the first half of the year, the State Customs Service has provided the receipt of 13.74.8 billion soms (104.3% to the forecast figures) in customs duties. The forecast amount was 12,541.6 billion soms. The excess gatherings reached 533.3 millions more. As for June, the Ministry of Finance has already made a forecast of customs…
DetailsKochkor-Ata Mayor’s Office intends to spend over 14 million soms on repair of three roads.
Mayor’s Office budget will provide 1, 756.8 million for the widening of Pioneer Street. Reconstruction of Pioneer and Sadovaya Streets will cost 12,353.4 million soms. (24.kg/Business World Magazine)
Kazakhstan and Mongolia may launch new flights, PM Karim Massimov said. At the government’s meeting the PM tasked the Ministry of Investments and Development to consider the issue of launching Bayan-Olgii-Almaty and Bayan-Olgii-Ust-Kamenogorsk routes. The Ministry of Agriculture was entrusted with a task to consider an opportunity of delivering meat to Semipalatinsk Meat Processing Plant…
DetailsThe International Monetary Fund cut its forecast for growth of the Kyrgyz economy in 2016 to 2.2%. After a difficult start of the year, the pressures on the economy of Kyrgyzstan are beginning to moderate, helped by a stabilizing regional context. In the first half of 2016, overall and non-gold growth reached -2.3% and 1.2%…
DetailsBritish magazine “The Banker” included the International Bank of Azerbaijan (IBA) in the TOP-1000 of the most powerful and financially sustainable banks in the world. According to the ranking, the IBA is among TOP-25 of the best banks within the Central and Eastern Europe region based on assets volume, capital adequacy, ROA and ROE. “The…
DetailsThe Eurasian Development Bank predicts 1.5% slowdown in the Kyrgyz economy. Tight monetary conditions may restrain economic growth in the Kyrgyz Republic. The slow pace of gold production’s increase is among the deterrent internal factors. Weakening of som exchange rate in the fourth quarter of 2015 helped smooth the increasing pressure by improving the trade…
DetailsXinjiang Silu Changlong Investment Co., Ltd (China) is planning to create a food transport-logistic center in Bukhara region of Uzbekistan. Currently, the Chinese company is developing the project in cooperation with the Ministry of Economy of Uzbekistan. Within the project, it is planned to create a modern logistics center, two plants for processing of fruits…
DetailsThe Board of the Central Bank of Uzbekistan kept the refinancing rate at the level of 9% APR. The regulator said that the Board of the Central Bank adopted the decision on keeping the refinancing rate at 9% APR. The Central Bank said that the decision was adopted based on tasks, determined in main direction…
DetailsBelarusian laser technologies will be used for research projects of the International Center for Relativistic Astrophysics Network (ICRANet), Deputy Chairman of the Presidium of the National Academy of Sciences of Belarus (NASB) Sergei Kilin said. On July 18 Chairman of the Presidium of the National Academy of Sciences of Belarus Vladimir Gusakov and ICRANet Director…
DetailsBelarusian companies should step up efforts to advance cooperation with Chinese partners, Ambassador Extraordinary and Plenipotentiary of Belarus to China Kirill Rudy said. The Ambassador believes that it is essential to build production chains with Chinese partners. Speaking about the inflow of Chinese investments to Belarus, Ambassador Kirill Rudy said about the preparation of amendments…
DetailsBasic foods grew in price in Kyrgyzstan, the Ministry of Economy reported. Bread has risen in price by 0.19 soms (1.05%), rice – by 1.77 soms (2.33%), beef – by 0.92 soms (0.33%), sugar – by 1.54 som (2.94%), vegetable oil – by 0.19 soms (0.21%), potatoes – by 4.93 som (34.71%), beans – by…
DetailsATB Financial, the largest Alberta-based financial institution, has collaborated with SAP SE, financial technology start-up Ripple Labs Inc. and ReiseBank AG in Germany to send the first real international blockchain payment from Canada to Germany. ATB successfully transferred CA$1,000 (667 euro) to ReiseBank using a network built on SAP technology and Ripple’s pioneering network of…
DetailsAssets of the State Oil Fund of Azerbaijan (SOFAZ) increased by 4.6% and amounted to $35.1 billion as of July 1, as compared to $33.57 billion in early 2016, SOFAZ said in a report. SOFAZ’s revenues totaled almost four billion Azerbaijani manats during the H1 2016, and expenditures were almost at 2.256 billion manats. During…
DetailsThe Council of Ministers has approved an agreement on the formation of indicative (forecast) balances of gas, oil and oil products in the Eurasian Economic Union which was signed in Moscow on April 22. This is envisaged in the corresponding resolution No. 553 of July 14, the press service of the Belarusian government informed. The…
DetailsAggregate capital of the banks of Uzbekistan reached 8.6 trillion soums as of July 1, up by 23.3% YoY. This was announced at the expanded session of the Board of the Central Bank dedicated to the results of the activities of the banking system in the first half of 2016. Current level of capital adequacy…
DetailsCoal stocks in the warehouses of thermal power plants (TPP) of Ukraine in June decreased by 34.5% and as of July 1, stood at 1.6 million tons, the Ministry of Energy and Coal Industry said. In particular, gas coal and long-flame coal stocks amounted to 1.091 million tons, while anthracite coal stocks amounted to 508,200…
DetailsCooperation between Ukraine and Azerbaijan in AN-178 production will establish the model of UkrOboronProm working relationship with other countries. This was stated by Director General of the State Concern Roman Romanov, commenting on the statement of the President of Ukraine in his briefing in Baku in the framework of the official visit to Azerbaijan. “One…
DetailsRussia continues to export high volumes of wheat brans. In May shipments of wheat brans from Russia were 69.15 KMT, which is 38.5% higher than in May 2015 (49.9 KMT). Since the beginning of the season Russian wheat bran exports are 12% higher than over the same period of 2014/2015 (717.2 KMT against 637.7 KMT…
DetailsDeputy head of Turkmenistan’s “Turkmenneftegazstroy” state concern Atakuli Tatov has been appointed acting head of the concern, the decree signed by Turkmenistan’s President Gurbanguly Berdimuhamedov said. The subdivisions of the state concern are engaged in construction of oil and gas pipelines and development of oil and gas fields, reconstruction of oil processing facilities, as well…
DetailsLosses bourn by Ukraine because of the unilateral termination of the Cyclone-4 contract by Brazil can reach about $800 million, the press service of Yuzhnoye State Design Office has said. “According to preliminary estimates, Yuzhnoye Design Office losses could amount to roughly $800 million because of the unilateral contract termination by Brazil”, the report has…
DetailsShokhrukh Shoakhmedov was appointed the deputy chairman of Uzbekistan’s Central Bank according to a decree of President Islam Karimov, the Central Bank said. Shoakhmedov was heading the Central Bank’s central administrative board in Tashkent. Uzbekistan’s Central Bank is tasked to regulate money circulation and activities of commercial banks in the country. Currently 26 banks operate…
DetailsAccording to the Ukrainian AgMin, new record was set in grain exports, which exceeded the previous volume by 5 MMT. Preliminary estimates of 2015/2016 total exports are 39.415 MMT. This includes 17.354 MMT of wheat, 17.396 MMT of corn, 4.409 MMT of barley and 256 KMT of other grain crops. In 2014/2015 34.805 MMT of…
DetailsWeather conditions were favorable for winter and spring grain crop development in May-July. During the first week of July soil moisture reserves were satisfactory except for Western regions. Last week was rather hot with minor precipitations. Currently, a dry weather phenomenon is observed in some Southern, Eastern and Western regions. Early spring crops are at…
DetailsIn January-June Big Port St. Petersburg handled 24.16 million tons of cargo (down by 8% YoY). According to the port authority, transshipment of oil products fell by 34% to 3.32 million tons, dry bulk cargo – by 15% to 3.61 million tons, general cargo climbed by 1% to 6.13 million tons. The port’s container throughput…
DetailsThe Taganrog Boiler-Making Works “Krasny Kotelshchik”, a member of the company Power Machines, has manufactured and shipped the chamber-type high pressure heater (chamber-type HPH) for the Belarusian NPP under construction. Large-size equipment weighing 138 tons will be installed on the first power unit of the plant. Seven similar heaters for this NPP are currently under…
DetailsRussia will approve a loan for Bangladesh amounting up to $11.38 billion for construction of Ruppur Nuclear Power Plant, the Russian Government said. The loan will cover 90% of project activities. Borrowed funds will be used for construction in 2017-2024 in accordance with the draft intergovernmental agreement. Bangladesh will repay the actually utilized loan amount…
DetailsThe Guards missile cruiser Varyag, the flagship of the Russian Pacific Fleet, has returned to Vladivostok port after a nine-month voyage during which it has been involved in the Indra Navy naval exercises in the Bay of Bengal and provided air defense cover to Russia’s Hmeymim airbase in Syria, the press service of the Primorsky…
DetailsRenovation program included the replacement of the hydro turbine, generator, excitation system, hydroelectric unit management and automation system, as well as auxiliaries. The equipment has been renovated in line with RusHydro’s Comprehensive Renovation Program (CRP). The new turbine features an improved design and is highly environmentally friendly. The renovated impeller has 5 blades instead of…
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