Russia to lose billions from Ukraine’s association with EU

Trade consequences of regional agreements may be adverse for countries not participating in them, department director of Russian Ministry of Economic Development Maxim Medvedkov said. In particular, Russia’s losses from Ukraine’s associations with the EU may climb to billion values, he added. “These effects are related to surging trade inside the region, sometimes prejudicing turnovers…


Belarus: Minsk Silicate Materials Plant to merge with Belarus Cement Plant

OAO Minsk Silicate Materials Plant will be incorporated by the Belarusian Cement Plant (Kostiukovichi, Mogilev region) in accordance with resolutions made by shareholders of both companies. The parties are expected to finalize the merger by December 2016. Besides, the Belarusian Cement Plant will increase its statutory capital by issuing 287,227 supplementary shares with a face…


Belarus: Belaruskali starts mining potash in Turkmenistan

Two Soligorsk-based companies: Belaruskali and Shakhspetsstroi – have started mining potash ore at the Garlyk mining and processing factory in Turkmenistan, a Belaruskali official said.

The general contractor for the Garlyk ore-mining project is OAO Belgorkhimprom (based in Minsk), which is supposed to launch the ore dressing factory in March 2017. (Prime-TASS/Business World Magazine)

Belarus: SvetlogorskKhimvolokno and Maxi Foods ink cooperation agreement

The Belarusian artificial yarn manufacturer SvetlogorskKhimvolokno and the Hungarian retail chain Maxi Foods have signed a cooperation agreement. The document was signed during the presentation of the Belarusian economy at the international agriculture and food expo AGRA in the city of Gornja Radgona, Slovenia, the representatives of the Belarusian expo organization company BelInterExpo informed. Negotiations…


Belarus took part in Slovenia’s agricultural fair

Belarus’ national stand has been presented at the international fair of agriculture and food AGRA in Gornja Radgona, Slovenia on August 20-25, the press service of the Belarusian Ministry of Foreign Affairs informed. The Belarusian National Exposition has featured the Belarusian enterprises of Belneftekhim Concern, Minsk Tractor Plant, Gomselmash, Minsk Kristall Group, Savushkin Product, Santa…


Belarus: over 6.7 million tons of grains harvested

As of August 24, agricultural organizations of Belarus harvested grains and pulses throughout the areas of 2 million ha, the Ministry of Agriculture of the Republic of Belarus declared.

The average yield totaled 3.37 t/ha. The harvested volumes reached 6.733 million tons of grains, down by 1.81 million YoY.

(APK-Inform/Business World Magazine)

Azerbaijan: ADB postpones loan allocation for North-South project

The Asian Development Bank (ADB) has postponed the consideration of allocating a $200 million loan for implementation of the International North-South Transportation Corridor project, as well as for development of Azerbaijan’s railway sector, till the next year, said an ADB message. Earlier, the bank’s management planned to hold the project’s overview on December 12, however,…


Uzbekistan: salaries to grow in October 2016

President of Uzbekistan Islam Karimov signed a decree “On increasing the sizes of salaries, pensions, stipends and social allowances” on August 22. The document was adopted at increasing income and life standards of population, as well as strengthening social support of citizens of Uzbekistan. According to the decree, the salaries to workers of budget organizations,…


World: TAP progressing in line with schedule

The construction of the Trans Adriatic Pipeline (TAP), which is designed to transport Azerbaijani gas to European markets, is progressing fully in line with its schedule, TAP AG said. TAP AG tweeted on August 24, that it started welding pipes in Greece and Albania. All welds undergo ultrasonic testing, TAP said. TAP project envisages transportation…


Turkmenistan to intensify economic ties with Indonesia

Turkmenistan’s Foreign Ministry hosted a meeting with Indonesia’s Iran-based Extraordinary and Plenipotentiary Ambassador Octaviano Alimuddin, the Turkmen ministry said. During the meeting, the sides exchanged views on opportunities to intensify mutually beneficial trade and economic relations between enterprises, companies and entrepreneurs of the two countries. The parties also discussed prospects of bilateral cooperation in political,…