Ukraine: foreign exchange reserves at $21 billion

The international foreign exchange reserves of Ukraine amount to more than $21 billion, President of Ukraine Petro Poroshenko said at the All-Ukrainian Public Forum “Open Dialogue” in Kyiv. “In 2014-2015, the level of foreign exchange reserves amounted to $5 billion, and payments amounted to $7 billion. The threat of Ukraine’s bankruptcy seemed inevitable. Today, the…


Estonia: Nordica passenger numbers up in 2018

The number of passengers carried by Nordic Aviation Group AS, Estonia’s national airline operating under the Nordica brand, increased by 22% YoY, to 760,000 in 2018. Nordica route network manager Mart Sibrik said that 680,000 passengers, representing the lion’s share thereof, flew on the Tallinn route network, while the remaining passengers were served on domestic…


Kazakhstan: pork exports to grow

Although most forecasts indicate that Kazakhstan’s pig industry is heading for extinction, the Kazakh Union of Pig Farmers has recently adopted a development program targeting a significant increase in production capacities with export opportunities. In the plan, Russia and China would be the main targets of the exports. By 2025, the Kazakh Union of Pig…


Azerbaijan: production of Peugeot cars launched

Azerbaijan’s AzerMash company together with the automobile company Iran Khodro Industrial Group (IKCO) have launched the production of Peugeot cars under the Khazar brand on the basis of the Neftchala Industrial Site, spokesperson for AzerMash company Gunay Namidar reported. “Several Peugeot cars have been already produced,” she added. “The cars have been equipped with an…


Ukraine: wage arrears up in 2018

As of January 1, wage arrears in Ukraine amounted to UAH 2,645.1 million, up by 11.7% YoY, the State Statistics Service of Ukraine has reported. Among the leaders in terms of wage arrears were Luhansk region (UAH 505.9 million), Donetsk region (UAH 467.3 million) and Sumy region (UAH 275.3 million). The lowest salary debts as…


Uzbekistan: GMU to be renamed

GM Uzbekistan will be renamed in the coming months, the UzAvtoSanoat Deputy Chairman Aziz Shukurov announced. Shukurov added that the Chevrolet and Ravon brands would remain. “The issue of renaming will be resolved in the near future, and we will inform about it soon,” Shukurov said during a press conference. The company exports its products…


Kazakhstan: cargo transport via Turkmenistan up in 2018

In 2018, more than 400 trains were sent from Kazakhstan’s “Bolashak” border railway station to neighboring Turkmenistan, twice as much as in 2017, the press service of Kazakhstan Temir Zholy (Kazakhstan Railways) reported. Kazakhstan transports wheat, flour, milling products, barley, oats, and lentils. All products are exported to Turkmenistan, Iran and Afghanistan. Cargo traffic passes…


Ukraine: GDP up in 2018

Ukrainian First Deputy Prime Minister and Minister of Economic Development and Trade Stepan Kubiv said that the country’s gross domestic product grew by 3.4% YoY in 2018. “Statistics, which will be announced in February, will show stabilization, and growth of the Ukrainian economy by 3.4%,” he said at a meeting of the Ukrainian parliament’s faction…


Ukraine: Russian Sberbank’s subsidiary posts $272 million in loss in 2018

Russian state-controlled Sberbank’s Ukrainian subsidiary was in the red in 2018 and posted UAH 7.614 billion, or $272 million, in loss.

The bank’s charter capital as of January 1, was UAH 20.765 billion, or $742 million, the bank said in a report on its website. (UNIAN/Business World Magazine)

Azerbaijan: persimmon exports up in 2018

Last year, Azerbaijan increased the sale of persimmon by 17.5% YoY, the Chairman of the Association of Producers and Exporters of Persimmon, Gadir Yusifov, reported. In 2017, Azerbaijan sold persimmons for a total amount of $97 million. In 2018, the cultivation reached $114 million, which indicated an increase of 17.5%. Azerbaijani persimmon is mainly exported…