Uzpromstroybank (Uzbek Industrial and Construction Bank) has issued a loan for 571.2 billion soums to small businesses and private entrepreneurships in the first half of 2016. According to the press service of the bank, businesswomen received loans for 45.2 billion soums in the reporting period. Uzpromstroybank said that it issued loans for 99.2 billion soums…
DetailsUzbekistan Temir Yollari is completing works on reconstruction of Nukus railway station, the company said in a statement. The company said that painters and craftsmen were completing constructions works at the station. New station will have all necessary conditions for passengers. Ticket office, room for children and kitchen were constructed. The station is equipped with…
DetailsRailway cargo transportation between Belarus and Russia’s Kaliningrad Oblast went up 7.4% over the same period of 2015 to 4.47 million tons, the press service of Belarusian Railways reported. The railway export of Belarusian cargoes to Kaliningrad Oblast made up 319,800 tons (up by 48.5% YoY). The transit of cargoes exceeded 4 million tons (up…
DetailsGM Uzbekistan presented an automobile Nexia R3 under the brand of Ravon in Kazakhstan. It is worth to mentioning that Nexia R3 is a modified Chevrolet Aveo of the second generation (T250). Nexia R3 is equipped with a gasoline engine with a volume of 1.5 liters. The power unit is paired with a five-speed manual…
DetailsIn Q2 2016 Belarusian state-run woodworking enterprises increased their output by 70% in comparison with Q1 2016. Chairman of the Board of the Development Bank of the Republic of Belarus (DBRB) Sergei Rumas made the statement after delivering his report to the head of state on July 18. He reminded that the Development Bank took…
DetailsUzbekistan signed about 270 agreement to export fruit and vegetables valued at over $2 billion during the First International Fruit and Vegetable Fair, held in Tashkent from 12 to 16 July. The agreements to export fruit and vegetable were signed with representatives of over 30 countries, including Russia, USA, China, Great Britain, Germany, UAE, Japan,…
DetailsUzbekistan sold some 305 state assets valued at 116 billion soums and $1.1 million to private sector in the first half of 2016. The investors also undertook obligation to invest 267.5 billion and $150,000, as well as create over 5,600 new jobs, State Competition Committee said. During the reporting period, investment obligations on 42 agreements…
DetailsThe number of business incubators will be doubled in Belarus by late 2020, Belarusian Deputy Economy Minister Irina Kostevich said. “We now intend to raise the number of business incubators two times by the end of the five-year term. Certainly, we are going to reach for small towns, for the countryside”, noted the Deputy Economy…
DetailsTurkey has agreed on a contract for building subway in the city of Dnipro, City Mayor Borys Filatov has said. “Turkish colleagues have brought an agreed contract for subway construction”, Filatov wrote on his Facebook page. He also published his photo with a weighty bookbinding in the hands, which was signed in the following way:…
DetailsToktogul water reservoir has currently accumulated 15 billion cubic meters of water, which is 4 billion more than in 2015. This was announced today at a meeting of the Republican head office on preparation for the heating season. At least 133.163 million kW-h of electricity have been imported from Kazakhstan in 2016 for uninterrupted power…
DetailsTajikistan has reportedly increased primary aluminum exports. The head of the Customs Service under the Government of Tajikistan, Abdufattoh Ghoib, noted that Tajikistan had exported about 73,500 tons of primary aluminum over the first six months of this year, an increase of 20% YoY. Tajikistan exported 61,200 tons of primary aluminum in January-June 2015, up…
DetailsUkraine 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…
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