According to the official statistics figures, in 2016-2017 MY Ukraine exported 5.35 million tons of barley, up by 21% YoY (4.41 million tons), which became the highest rate for the country in seven recent years. In the season 2016-2017, Saudi Arabia (42% of the general supplies) and Libya (18%) were the main importers of Ukrainian…
DetailsBy increasing excise tax for beer, the goal of reducing alcohol consumption will not be achieved. This is because consumption of other alcoholic beverages will increase as a result, notes CEO of Latvian Breweries Union Peteris Linins, commenting on the government’s plans to raise excise tax for beer. He emphasizes that Finance Ministry has developed…
DetailsIn the first half of 2017, tax arrears in Kyrgyzstan reached 2.5 billion soms. Bad debt is estimated at 738.2 million soms – 1,888 taxpayers left debts. This is almost a third of the total debt. In half a year, the tax authorities forcibly collected 1,687.4 billion soms of debts to the budget. 42,729 tax…
DetailsAzerbaijan’s president Ilham Aliyev signed a decree approving a memorandum of understanding between Azerbaijan Railways CJSC and Iranian Railways on the development of railways, signed on March 5 in Tehran. Azerbaijan Railways CJSC is instructed to ensure the implementation of provisions of the decree after the MoU’s entry into force. Meanwhile, Azerbaijan’s Foreign Ministry is…
DetailsS&P Global Ratings affirmed its “B+/B” long- and short-term counterparty credit ratings on Ipoteka Bank JSCM. The outlook is stable. The affirmation reflects S&P’s view that over the past two months Ipoteka Bank’s capitalization has significantly improved on the back of support received from the government of about Uzbekistani sum (UZS) 380.8 billion (about $95…
DetailsNationalized PrivatBank has been determined an authorized bank that can be attracted to the storage of cash reserves of the National Bank of Ukraine (NBU), the NBU reported on its website, with reference to NBU Board resolution No. 460-RSh dated July 19. “Thus, the National Bank continues to delegate some of the functions that it…
DetailsThe Finance Ministry of Ukraine and PrivatBank signed a memorandum of cooperation, which would allow using unique achievements and technologies of the bank in the IT industry to create a unified system for verifying budgetary payments in Ukraine, the PrivatBank press service reports. According to Finance Minister Oleksandr Danyliuk, the national budget annually loses billions…
DetailsIn Latvia, construction production volume in Q1 2017, when compared with the same period of last year, grew by 8.4%. This puts Latvia on the tenth place among EU member states, according to the latest data from Eurostat. Increase in construction output larger than Latvia’s was noted in Cyprus (+36.7%), Hungary (+24.6%), Ireland (+21.2%), Estonia…
DetailsPotato harvest in Latvia may come one week later than usual. Still, the harvest is expected to be on the level of last year, Potato Growers and Processors Union declared. Aiga Kraukle, chairman of the union, says it is too soon to predict the exact potato yield. But since there are plenty of potato tubers…
DetailsThree enterprises from the Association of Ukrainian Producers “Ice Cream and Frozen Foods” will soon start to export their products to the countries of the European Union, President of the Association, Ihor Bartkovsky said. “Currently, three companies of the Association are undergoing the last stage of inspections to obtain the right to export their products…
DetailsThe new berry harvester designed by the National Academy of Sciences of Belarus is intended for harvesting currant, raspberry, black chokeberry, and other varieties, Sergei Yakovchik, the director general of the research and practical center for agriculture mechanization at the National Academy of Sciences of Belarus, reported. Currently, the berries are harvested in Belarus with…
DetailsPrime Minister of Kazakhstan Bakytzhan Sagintayev visited North Kazakhstan region. While in the region, the premier surveyed the progress of reconstruction and familiarized with the prospects of development of transit potential of the Petropavlovsk International Airport. Vice governor of North Kazakhstan region Anton Fedyayev briefed Prime Minister Sagintayev on reconstruction of the terminal and landing…
DetailsPresident Shavkat Mirziyoev signed a Decree “On measures for radical improvement of tax administration, increase tax collection and other obligatory payments”. The decree notes that the country has formed a tax system that provides for a consistent reduction of the tax burden and creates a favorable climate for business development and attracting foreign investment. However,…
DetailsRussia’s VTB 24 is buying the share (49%) of Azerbaijani AtaHolding group of companies in the authorized capital of VTB Bank Azerbaijan, says a message on the website of the Center for Disclosure of Corporate Information. VTB 24 will acquire 124,496,737 shares of the bank at a cost of $0.25 each. Thus, the total transaction…
DetailsThe Cabinet of Ministers has authorized the Ministry of Finance to prolong the agreement with the European Investment Bank (EIB) on attracting EUR 200 million for financing the reconstruction of infrastructure destroyed during the military operations, as well as for resolving the problems of internally displaced persons. The relevant draft order was adopted by the…
DetailsAnalysts estimated the domestic consumption of grains and pulses in Ukraine in 2016-2017 MY at the level of 24.2 million tons, or 42% of the general grain production (66.1 million tons), and down by 4% YoY (25.3 million tons). At the same time, the share of food use in the general domestic consumption continued steadily…
DetailsCompared with the previous year, demand for seasonal fruit grew this summer: 31% for peaches, 35% for plums and 63% for apricots at Maxima Latvia supermarkets. “Although residents also put unusual fruit in their baskets, such as plum and peach hybrids, preference remains high for usual seasonal fruit – peaches, plums, cherries, etc. Last summer,…
DetailsTrade and economic relations were high on agenda as Washington hosted the Turkmen-U.S. business session on development of business ties. The event was held with the participation of officials of Argus Ltd, Boeing, CNH Industrial, Ellicott Dredges, General Electric, John Deere, Lindsey, Microsoft, Oxbox Energy Solution, Caterpillar and Westport Trading Europe Ltd, said the Turkmen…
DetailsMultiple potential investors could start a due diligence review in Latvian national airline airBaltic, says Latvian Transport Minister Uldis Augulis. He says the Cabinet of Ministers has been informed about the progress with attraction of a new strategic investor for the airline. In total, more than 40 potential investors from all over the worlds have…
DetailsPassenger traffic via Minsk National Airport rose by 26.9% YoY in January-June, according to the website of the airport. In June Minsk Airport handled 425,200 passengers, up by 22.2%. Since the start of the year, the number of airport users has exceeded 1,079,000 people, up by 26.9% YoY. In June 2017 the airport serviced 2,323…
DetailsInflation in Kazakhstan in the first six months of 2017 stood at the level of 3.7% compared with 4.6% in the first half of last year. At the annual level, that is, compared to the same period of the previous year, inflation was at the level of 7.5%, or within the target corridor, National Economy…
DetailsThe falling dollar rate forced the National Bank of Kyrgyzstan to enter the foreign exchange market again with intervention. The bank bought dollars. As the official website of the National Bank of Kyrgyzstan reported, it carried out the third intervention in July. But, unlike the first two, it did not sell, but bought US dollars.…
DetailsIran and Azerbaijan are expected to launch transporting goods and cargos through the International North-South Transport Corridor in the coming months, amid efforts to boost trade ties between the two neighboring countries. Mohammad Ebrahimi, economic consultant at Iranian Embassy in Baku, said that the goal of cooperation between the two neighboring countries would be fulfilled…
DetailsThe supervisory board of PrivatBank (Kyiv) has announced McKinsey & Company the winner of a tender to select an internationally recognized company responsible for drawing up a strategy of the financial institution. PrivatBank said in a press release that the objective of this assignment was to design a market strategy to optimize PrivatBank operations while…
DetailsUkrainian president Petro Poroshenko has announced he has agreed with his Georgian counterpart Giorgi Margvelashvili to facilitate economic partnership and deepen the free trade area. “We’ve agreed to intensify economic partnership, remove all barriers, coordinate tariffs, including for rail and ferry services, and deepen the free trade area,” he said at a joint press conference…
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