The state enterprise Artyomsol (Donetsk region) has launched the production of purified food salt, according to a press release issued by the company. To obtain premium quality salt according to the state standard 3583:2015, the process of photoseparation was integrated into the existing technology, which allowed removing dark inclusions of natural origin (anhydrides) from rock…
DetailsMutual trade between Ukraine and Germany in 2017 grew by 21.5% YoY, the press service of the Cabinet of Ministers of Ukraine has reported after a meeting of Ukrainian Prime Minister Volodymyr Groysman with representatives of leading German companies operating in Ukraine. “Last year the volume of mutual trade grew by 21.5%, and trade focus…
DetailsThe development of the route network from Astana is facing the risk of losing foreign airlines which may reduce flights to Kazakhstan, Ibrahim Canliel , Chief Financial Officer at Air Astana said at a press conference on January18. “Over the past years, many airlines like Austrian Airlines, Asiana, KLM have canceled their flights to Astana,…
DetailsThe Bank of Estonia has come up with a plan to reduce the use of 1-cent and 2-cent coins before eventually removing them from circulation. The central bank floated a proposal at the tax environment forum to discuss how to start rounding off cent values at vendors up and down to the nearest 5 cent-rounded…
DetailsThe Belarusian mechanical engineering company Belkommunmash has won a tender to sell ten modern low-floor trams for fast tramlines to the Russian city of Volgograd, representatives of the embassy of Belarus in Russia reported. The contract with the Volgograd city administration will be signed soon. It will stipulate the schedule for delivering the trams to…
DetailsThe state-owned Oschadbank, the leader in the number of branches in Ukraine, in October-December 2017 closed 102 structural divisions, the National Bank of Ukraine (NBU) has reported on its website. As of January 1, 2018 the branch chain of the bank had 3,305 branches. The top three most active banks in optimization of their chains,…
DetailsUkrainian banks in 2017 reduced the number of their operating structural units by 827, to 9,489 branches as of January 1, 2018, according to the National Bank of Ukraine (NBU) website. In particular, the state-run Oschadbank closed the largest number of branches in 2017, namely 443 units, while UkrSibbank shut down 53 units, Pravex-Bank 45…
DetailsThe Road Administration will install electronic traffic signs with changing information permanently in the second half of this year, as the one-month testing period of the signs has been successful. The initial tests of electronic traffic signs were successful, Siim Vaikmaa, head of the Road Administration’s traffic management center, declared. Vaikmaa added that the development…
DetailsThe growth of the GDP in Tajikistan in 2017 amounted to 7.1% compared to 2016, the Tajik Statistics Agency reported. Tajikistan’s GDP amounted to about 61.1 billion somoni ($6.9 billion) in 2017. Agriculture, hunting, forestry, fishing and fish farming dominate in the GDP structure, making up 21.1% of the total GDP volume. The share of…
DetailsTurkmenistan’s Foreign Ministry has hosted a meeting with Mazen Shamiah, a Palestinian Authority Foreign Ministry official for Asia and Africa, the Turkmen Foreign Ministry said in a message. During the talks, the sides noted the need to further expand cooperation in trade and economy, as well as interest in developing relations between the business structures…
DetailsUkrainian President Petro Poroshenko has said that a priority of work in 2018 will be privatization and the replacement of the profit tax with the tax on withdrawn capital. “In 2018 our priorities in reforms are no less ambitious – privatization, deregulation, improving investment climate, national bureau on financial security, tax on withdrawn capital, liberal…
DetailsFollowing the results of 2017 Ukraine ranked second in terms of butter supplies to the European Union, Deputy Minister of Economic Development and Trade – Ukraine’s Trade Representative Natalia Mykolska informed on her Facebook page. “Ukraine once again confirmed the existing status quo as a reliable and important player in the European Union’s agrarian market.…
DetailsIn 2017 the Belarusian automobile engineering company BelAZ exported about 96% of its output, according to the BelAZ website. In 2017 Belarus’ export rose by 84.8% from 2016. Russia remained the main market, with the sales growth rate at 173.2%. The top three buyers in physical terms also included Uzbekistan and Kazakhstan. The growth rate…
DetailsAccording to preliminary data of the Central Treasury, the republican budget received 140.4.2 billion soms in 2017, the Ministry of Finance of Kyrgyzstan reported. The main part of the revenues is tax revenues – 91,462.8 billion soms. This is 9,977.1 billion soms more than in 2016. At the same time, the taxes and fees replenished…
DetailsThe launching of Baku-Sofia direct flight will contribute to the development of tourism and business relations between Azerbaijan and Bulgaria, Bulgarian Prime Minister Boyko Borissov said. Borisov made the remarks at an expanded meeting with Azerbaijani President Ilham Aliyev in Baku on January 15. “An encouraging fact is that up till now we have resolved…
DetailsGas reserves in Ukraine at a current rate of production, which is about 20.5 billion cubic meters per year, will be enough for 22 years, according to the Chairman of the NJSC Nadra Ukrayny Board Yaroslav Klymovych. “There are 402 hydrocarbon deposits in Ukraine, including 269 deposits being in commercial development. Ukraine’s state balance of…
DetailsLviv plans a UAH440 million bond issue (to be issued in two tranches in 2018), Fitch Ratings said in a press release on January 15. “For 2018 Lviv’s direct debt may increase to UAH 440 million, or a still 4.7% below current revenue (from less than 0.1% in 2014-2017), if the city is successful in…
DetailsThe number of green energy contracts concluded by customers with the state-owned Estonian energy group Eesti Energia tripled during 2017, hitting 10,045 by year-end. Households with a green energy contract consume energy generated 100% from renewable sources, Eesti Energia says. “By buying green energy, our clients are influencing the development of electricity production, with a…
DetailsThe National Company KazMunayGas JSC and China National Petroleum Corporation held bilateral negotiations in the furtherance of the agreement signed earlier by the heads of the two states, the press service of the national company reported. During the meeting, the sides agreed on the future increase in the Kazakh gas exports to China, up to…
DetailsThe National Bank of Kyrgyzstan conducted the first intervention this year to sell dollars. The bank sold $5.4 million with settlements on the date of the transaction. Growth in dollar exchange rate forced the National Bank to enter the currency market. Since the beginning of the year, the currency has risen in price by 50…
DetailsThe Ukrainian delegation led by Chairman of the State Agency on Energy Efficiency and Energy Saving of Ukraine Serhiy Savchuk participated in the Legislators Forum in Abu Dhabi, UAE, on the eve of the opening of the eighth session of the IRENA Assembly. “More than 60 parliamentarians from 30 countries, including Ukraine, discussed effective legislative…
DetailsThe National Bank of Ukraine (NBU) in 2017 bought nearly $2.3 billion on the interbank forex market, according to the NBU website. At the same time, the regulator purchased over $1 billion through interventions in the form of a request for the best forex rate, the report said. Over the period under review, the National…
DetailsAt the end of 2017 a running test of the icebreaker Varma, owned by the Port of Riga was performed. Based on test results as well as information provided by the Freeport of Riga services, the Freeport of Riga Captain Arturs Brokovskis is convinced that the Port of Riga is ready for winter and ice…
DetailsIn December 2017 the number of unemployed people in Kazakhstan amounted to 441,800 people, which is 5% of the economically active population, the Statistics Committee of the Kazakh Ministry of National Economy reported. As of the end of December 2017, the employment agencies of the Republic of Kazakhstan registered 70,300 unemployed people or 0.8% of…
DetailsPrices for consumer goods and tariffs for services in Azerbaijan increased by 12.9% in 2017 as compared to 2016, the State Statistics Committee said. During the period, prices for food products grew by 16.4%, prices for non-food items by 11.6%, and the cost of paid services increased by 9.3%. Monthly inflation for December 2017 was…
DetailsPrime Minister Volodymyr Groysman has said that Ukraine’s external debt totals 83% of the country’s GDP. At the same time, he reminded that in 2014, when Arseniy Yatsenyuk became the prime minister, the state budget amounted to UAH 108,000, as the previous regime brought huge damage to the country. “Then there was the annexation of…
DetailsUkrainian Infrastructure Minister Volodymyr Omelyan says Ukrainian state-run railways operator JSC Ukrzaliznytsia should focus only on the comprehensive development of transportation services. “Ukrzaliznytsia will never be able to make quality locomotives on its own. It will never make high-quality rail cars. When they talk about their passenger trains, I’m sorry, it’s past century technology: railway…
DetailsThe Orsha-based dairy company will start implementing two investment projects in 2018, representatives of the company reported. The Orsha dairy company intends to install a new line for packaging milk in containers with a longer shelf life. The equipment able to process up to 100 tons of milk per day will be installed in spare…
DetailsThe Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 150 million manats with a maturity period of 28 days, the BSE said in a message. The demand exceeded the supply – banks applied for 150.69 million manats at par value. The deadline for payments on…
DetailsTurkmen President Gurbanguly Berdimuhamedov discussed the construction of the Turkmenabat-Turkmenbashi highway during a working trip in Ashgabat. The president put forward a proposal to name the highway running from Amul (Amu Darya River) to Khazar (Caspian Sea) the Great Silk Road. This initiative is a real result of practical implementation of the resolutions on transport…
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