Armenia and Georgia have agreed to expand trade to $1 billion in the coming years, Prime Minister Nikol Pashinyan told a joint press conference with his Georgian counterpart Mamuka Bakhtadze. Pashinyan said the two parties needed to have a roadmap to “move towards that goal and accomplish the task”. Trade between Armenia and Georgia amounted…
DetailsAccording to the results of the first eight months of 2018, the growth of gross domestic product (GDP) in Kazakhstan amounted to 3.8%, Minister of National Economy Timur Suleimenov revealed. While addressing the government’s session, minister Suleimenov noted that the positive trend of economic growth in Kazakhstan had persisted in January-August. “At the same time…
DetailsIn January-July Belarus’ export of goods and services went up by 18.8% YoY, to reach $23.7 billion, according to the statistical data published on the website of the National Bank. The foreign trade in goods and services made up $47.1 billion, up by 20.1%. The export totaled $23.7 billion, and the import exceeded $23.3 billion…
DetailsIn the first two months of the current season (July-August), Ukrainian yellow onion exports grew 17-fold YoY. In the first two months of the season 2018-2019 Ukrainian yellow onion exports grew almost 17-fold compared to the last year and totaled 5,700 tons. It was the largest onion export in recent seasons for this period of…
DetailsUkrainian Infrastructure Minister Volodymyr Omelyan has said that PJSC Ukrzaliznytsia will not sustain financial losses in the event of termination of railway services with Russia. “These eight trains, which now run in the Russian direction, could have become a significant relief for Ukrainian citizens who want to travel inside the country. They would generate at…
DetailsAfrican swine fever (ASF) has devastated pig farming in Estonia. Only 14% of the number of farms in 2014 remains, says UK daily The Guardian, with small-holdings especially ravaged. Over the four years, the number of pig farms apparently has fallen from 920 to 125. By law, even one ASF case means the slaughter of…
DetailsTransport Minister Rokas Masiulis says that Latvians’ demand that Lietuvos Gelezinkeliai (Lithuanian Railways, LG) pay them over 82 million euros for the dismantling of a railway track to Renge a decade ago has come as a surprise to him and more: it was “a stab in the back”, according to him. LG said that it…
DetailsFreight volume handled in the Port of Liepaja in January-August climbed by 19.3% YoY, to 4,976,200 tons, the Port Authority says. In the reporting period, transshipment of grain grew by 42%, to 2,066,500 tons, construction materials – by 10%, to 482,100 tons, while transshipment of oil products fell by 16.5%, to 222,900 tons. Container traffic…
DetailsUkrainian President Petro Poroshenko congratulated workers of the oil, gas and oil refining industry on their professional holiday on September 9. The letter of congratulations was posted on the website of the head of state. “I sincerely congratulate you on your professional holiday. Increasing our own extraction of hydrocarbons and production of high-quality fuel, efficient…
DetailsThe Austrian Airlines increases the number of flights to Ukraine. Almost 30 flights will be performed to Kyiv, Dnipro, Lviv and Odesa a week from the end of October. “Up to 16 flights will be performed to Kyiv within the next winter schedule. In general, the Austrian Airlines offers up to 30 weekly flights to…
DetailsOver the seven months of this year inflation rate in Azerbaijan has been 2.8%, Chairman of the Central Bank of Azerbaijan Elman Rustamov said. He made the remarks at the Azerbaijani forum on competitiveness on September 7. “Inflation rate in Azerbaijan has stabilized since 2017,” Rustamov said. “In the first seven months of 2018 this…
DetailsAccording to the preliminary data, Belarus’ gold and foreign currency reserves totaled $7,246.4 million as of September 1, if calculated in accordance with methods of the International Monetary Fund, the Information and PR Department of the National Bank of the Republic of Belarus reported. In August the country’s gold and foreign currency reserves went up…
DetailsThe airport of Semey city has begun to receive aircraft after its reconstruction, which was started in 2016. Over 10 billion tenge had been allocated for the overhaul of the runway and adjacent territory. “The reconstruction has been completed and work is underway to equip the airport with services and utilities,” chief of ground services…
DetailsIn January-August the local budget revenues increased by 23.1% or by UAH 27.9 billion compared to the corresponding period of 2017 and totaled UAH 148.7 billion. “The budget revenues increased in all regions, while the growth rate of revenues above the average in Ukraine was recorded in 13 regions. The highest growth rates were observed…
DetailsIn a ceremony attended by Ukraine’s president Petro Poroshenko and Norwegian foreign minister Ine Soereide Eriksen, the Norwegian wind power developer NBT AS and its partners announced an agreement to build a 250 MW wind farm in the southern Kherson region of Ukraine. In close cooperation with leading international industrial companies and financial investors, NBT…
DetailsThe Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 300 million manats with a maturity period of 28 days, the BSE said in a message. Demand at the auction exceeded the offer by 54.5%. Thus, demand at the auction amounted to 463.6 million manats, while…
DetailsOne of the farm households of Abai district, Karaganda region, started growing sweet sorgo sowing over 100 ha of field for the first time ever, the regional administration’s press service said. Sweet sorghum with stalks having high sugar content can be used to produce biofuel, foods and cattle fodder. “We have started harvesting of the…
DetailsRepresentatives of the Chinese state-owned construction company China Construction Communication Engineering Group visited the island of Muhu, where they were familiarized with the plans of a local group of businessmen to build a bridge between Muhu and Saaremaa and the Estonian mainland. The representatives affirmed their company’s readiness to participate in the bridge project. Former…
DetailsThe Deposit Guarantee Fund of Ukraine has extended the term of liquidation of PJSC Commercial Bank Ukrainian Financial World, the Fund’s press service reports. “Under point 2 of Part 5 of Article 12, Part 1 of Article 35, Part 5 of Article 44, Part 3 of Article 48 of the Law of Ukraine “On Individuals’…
DetailsGerman company Bayer has opened a modern factory for production of seeds of agricultural crops in Zhytomyr region, northwestern Ukraine. “The Bayer company has opened a new modern factory for the production of seeds of agricultural crops in Zhytomyr region. The company has created 85 permanent and 220 seasonal jobs for Ukrainians,” President of Ukraine…
DetailsThe state should consider the introduction of a reduced social tax rate as an incentive either under the existing system of no corporate income tax, in its place, or as an option available to businesses, President Kersti Kaljulaid said. Kaljulaid said that in the past 30 years Estonia’s tax system had aimed at attracting capital…
DetailsPapa John’s Pizza, Baskin Robbins and Domino’s Pizza are eager to enter the Armenian market, according to a press release from the U.S. embassy in Armenia. The Embassy and the U.S. Commercial Service in Moscow, in partnership with IDBank, organized a one-day conference focused on franchise business opportunities. The event is part of an ongoing…
DetailsEnterprises affiliated with the Belarusian Agriculture and Food Ministry increased dairy export to China 5.6-fold YoY in January-July, Aleksei Bogdanov, Head of the Central Office for Foreign Economic Activities of the Belarusian Agriculture and Food Ministry, declared. “In January-July Belarus’ farm export to China totaled $23.3 million, up 4.2-fold. Dairy was the biggest contributor. In…
DetailsIn July Ukrainian banks reduced the share of problem non-performing loans by 0.6%, to 55.1%, according to the data provided by the National Bank of Ukraine. According to the NBU, as of August 1, the total volume of provided loans grew by UAH 21.9 billion, to UAH 1.2 trillion. Of which non-performing loans amounted to…
DetailsThe state enterprise “Berdiansk Commercial Sea Port” upgraded its material and technical base and introduced a new technology for grain handling. The state port operator purchased two ship loaders, one of which is already operating. The new equipment allows loading about 300 tons of grain per hour. The introduction of new technologies should provide stable…
DetailsThe 2018 grape harvest is in full swing in Georgia’s wine region of Kakheti. This will be the first grape harvest in the last 10 years that has not been subsidized by the state. Diversified markets, increased wine exports and the number of enterprises on the market gives firm reasons to believe that the grape…
DetailsConsumer prices in Estonia rose by 79.5% between 2000 and 2017, more then twice the EU average of 36.5% and fifth in Europe, Eurostat, the European Commission’s statistical agency said. Estonia was, according to the figures, well above the EU average in virtually all sectors, most notably alcohol and tobacco products, where prices in Estonia…
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