Standard & Poor’s (S&P) Global Ratings expects that Azerbaijan’s Kapital Bank OJSC will likely increase its already material market share, while its operating revenues continue increasing progressively and its profitability remains high, according to an S&P report. S&P confirmed the credit rating of the Azerbaijani bank at BB-/B level with a negative outlook. Meanwhile, the…
DetailsUkraine should reduce the share of nuclear fuel purchases from Russia to 45% in 2017, Ukrainian President Petro Poroshenko has said. “How much have we received (nuclear fuel from Russia) in 2016 – 55% already. How much did I set the task for minister Nasalyk in 2017. It’s 45% already,” he said during his visit…
DetailsUkraine shipped 3,271 tons of cheese to foreign markets in January-May, up by 22.7% YoY. The shipments increased by 48.5% in monetary terms, to $11.35 million, Ukraine’s State Fiscal Service said in its customs statistics reports. Cheese imports in the period under review totaled 3,563 tons, up by 35.8% YoY. The country imported products worth…
DetailsPresident of Turkmenistan Gurbanguly Berdymukhamedov, noting that the system of benefits in the country has become completely ineffective, instructed to prepare proposals for cancellation of all benefits. Berdymukhamedov was addressing a meeting with the leadership of the Turkmen banking and financial sectors. “Benefits should be provided not to anybody, but only to those who really…
DetailsIn the current year Ukrainian fat-and-oil producers managed to reverse the downward trend in the margarine market’s capacity. This product’s output shrank by 41% to the smallest level since 2003. The main reason for that substantial decline in Ukrainian margarine production is declining demand for this commodity, both from the domestic market and foreign consumers.…
DetailsNone of the coalition partners has any desire to overthrow the government. A solution to the tax reform and healthcare funding problem will be found, said Prime Minister Maris Kucinskis. “I gathered all coalition representatives. The good news is that none has any plans to topple the government and somehow stop the tax reform,” Kucinskis…
DetailsFreight volume handled in the Port of Liepaja in January-May climbed by 24.7% YoY, to 2,890,500 million tons, the Port Authority says. In the reporting period, transshipment of coal surged 6-fold, to 723,400 tons, wood pellets – 2.2-fold, to 150,700 tons, construction materials – by 7.8%, to 222,600 tons, oil products – by 65.6%, to…
DetailsThe Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) ratified a grant agreement for $280,000 signed between the government of Tajikistan and the Islamic Development Bank (IsDB) in January. Tajik Minister of Energy and Water Resources Usmonali Usmonzoda says the amount of this grant is allocated for improvement of work conditions for the ministry’s employees, elaboration…
DetailsThe budget expenditures of Kyrgyzstan in May amounted to 10,97.5 billion soms. Such data was presented by the Ministry of Finance. 2,409 billion soms were allocated for state employees, for the payment of social security benefits – 1,452, 522.5 billion. Social assistance to the population was provided at 632,515.3 million soms. Expenditures under the item…
DetailsOutput of passenger cars in May grew by 40% YoY, to 661 vehicles, according to the Ukrautoprom Association’s preliminary data. For the first time since the beginning of the year, cars were produced not only by CrJSC Eurocar, but also by Zaporizhia-based ZAZ plant. In particular, ZAZ produced 94 passenger cars (in May last year…
DetailsDirect railway passenger traffic between Ukraine and the European Union will be expanded, Ukrainian Infrastructure Minister Volodymyr Omelyan has said. “On December 23, 2016 the Intercity+ Kyiv-Lviv-Przemysl train was launched. This route has become very popular among Ukrainian passengers. Ukrzaliznytsia is looking into the possibility of launching the second pair of Kyiv-Lviv-Przemysl trains by another…
DetailsAstana-New Delhi direct flight is expected be launched in early July. Air Astana company will operate the Astana-New Delhi-Astana flight three times a week starting from July 2. Over the past two years passenger flow from India to Kazakhstan has doubled from 5,000 to 11,000 passengers. The number of Kazakhstanis traveling to India increased threefold…
DetailsThe Turkmen Economy and Development Ministry will hold an auction for the sale of state facilities on June 27. Industrial complex, shopping centers, carpet shop, textile factories, dairy farming enterprises, livestock farms are among the facilities to be put up for auction. The citizens of Turkmenistan and foreign countries, as well as private legal entities…
DetailsConcerns of Latvian residents about a possible economic crisis and political instability in the country are gradually growing, according to results of ERGO Security Index study. Data shows the index has worsened a lot over the past three years: from -39 in 2014 to -48 in 2017. “Concerns voiced by Latvians about the risks around…
DetailsIn January-May seaports of Ukraine handled 55.609 million tons of cargo, up by 4.5% YoY, says press center of Ukrainian Sea Ports Authority. Transshipment of export cargo totaled 42.971 million tons (+4.7%), imports – 7.880 million tons (+14%), transit – 4.309 million tons (-1.9%), inland traffic – 448,000 tons (- 49.9%). The highest results were…
DetailsBelarusian broiler farms have plans to obtain certificates to sell to the Chinese market, Belarus Agriculture and Food Minister Leonid Zayats said on the sidelines of the international agricultural expo Belagro 2017 on June 6. “We have boosted our supplies to the Chinese market. On June 16, we will welcome specialists from the General Administration…
DetailsThe State Customs Committee of Azerbaijan transferred almost 974.9 million manats to the state budget in January-May, up by 14.6% YoY, according to the Committee’s report. The Committee transferred almost 216.8 million manats to the state budget in May. Revenues from customs duties amounted to 57.8 million manats, from the value added tax – 149.91…
DetailsUkraine’s total state direct and government-guaranteed debt in April grew by 2.7%, or by UAH 21.12 billion ($1.95 billion), to UAH 1.973 trillion ($74.31 billion), Ukraine’s Finance Ministry reported on its website. Since the beginning of the year the total state (direct) and government-guaranteed debt in dollar terms has increased by 4.7%. According to the…
DetailsUkraine’s Infrastructure Ministry Minister Volodymyr Omelyan has supported the idea of curtailing bus and railways travel to and from the Russian Federation and establishing a visa regime with that country. “As a citizen of Ukraine I support the idea,” Omelyan said, adding it was up to Ukraine’s government to make the final decision. Omelyan, meanwhile,…
DetailsCompared to April 2016, industrial production output increased by 9.6% in April 2017. Industrial production output in manufacturing grew by 6.2%, in mining and quarrying by 20.7%, and in electricity and gas supply by 18.8%. Increase in manufacturing was significantly affected by the rise in manufacture of electrical equipment (by 31.9%), manufacture of computer, electronic…
DetailsBelarus has raised more than $140 million in direct investment from Finland over the past five years, Ambassador Extraordinary and Plenipotentiary of Belarus to Finland and concurrently to the Kingdom of Denmark Alexander Ostrovsky said. Finland is among top 20 investors of Belarus. Last year alone, the volume of investments amounted to $12.5 million, of…
DetailsKostanay-Moscow flight has been relaunched and will be operated three times a week. Assistant to director of the Kostanay airport Alexander Andreyev revealed that the renewal of the Kostanay-Moscow flight had been long time in the making. As a result, Aeroflot air carrier made the best proposal. “The airline carried out the first successful flight…
DetailsStructural reforms, including those in the banking sector, will help ensure the growth of Azerbaijan’s GDP, reads the latest edition of the World Bank’s (WB) Global Economic Prospects report. The report says Azerbaijan’s economy will grow by 0.6% in 2018 and by 1.3% in 2019. Since the beginning of 2017, Azerbaijan’s economy began to recover,…
DetailsThe state and government-guaranteed debt of Ukraine in January-April rose by $3.33 billion, or by 4.7%, to $74.31 billion as of April 30, according to the Finance Ministry’s website. The debt in hryvnia equivalent for the said period went up by UAH 3.16 billion, or by 2.2%, to UAH 1.973 trillion. According to the given…
DetailsLOT Polish Airlines is to launch on August 4 a new international flight between the western Ukrainian city of Lviv and the Polish city of Bydgoszcz, according to the Lviv Regional State Administration. The flights will be performed twice a week on Mondays and Fridays, according to the schedule published by Lviv Danylo Halytskyi International…
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