Azerbaijan: Saudi Arabia keen to establish broad trade and economic cooperation

A large delegation from Saudi Arabia, which will include representatives of both, state structures and the private sector, plans to visit Azerbaijan in October. Azerbaijan and Saudi Arabia enjoy successful cooperation in a number of areas and have fruitful bilateral cooperation within international organizations. During the upcoming meeting of the intergovernmental commission on trade and…

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Ukraine: vehicles output up in H1 2017

Production of motor vehicles in Ukraine rose by 72.8% YoY in January-June, to 3,621 units, according to the Ukrautoprom Association. In particular, production of passenger cars grew by 88.3%, to 3,078 units, while the output of commercial vehicles shrank by 49.3% YoY, to 206 units. At the same time, the number of buses produced over…

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Uzbekistan: banks entitled to carry out transactions on foreign exchange market at market exchange rate

The transactions on purchase and sale of foreign currency between the authorized banks and their clients were carried out at the average exchange rate fixed in interbank trading sessions held in Uzbekistan during the previous week. By its resolution the Uzbek government abolished this procedure. According to the decision of the country’s Cabinet of Ministers,…

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Ukraine: Boryspil Airport resumes talks with Ryanair in new format

Boryspil International Airport is resuming negotiations with the Irish low-cost airline Ryanair in a new format, the airport’s director general, Pavlo Riabikin, has reported on Facebook. “I have met with representatives of the country’s leading television media. Such interaction with journalists helped deeply consider urgent issues without unnecessary emotions. I’m confident that we managed to…

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Azerbaijan: IBA creditors vote for restructuring of bank’s foreign liabilities

The International Bank of Azerbaijan (IBA) has received enough votes from creditors to start the process of restructuring its foreign liabilities, Bloomberg reported, referring to the bank’s statement. Creditors holding more than 87% of the debt have voted in favor of the restructuring process, according to the report. Voting on the plan of voluntary restructuring…

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Turkmenistan: Tashkent and Ashgabat mull issues of expanding cooperation

Central Asian states, Uzbekistan and Turkmenistan, which traditionally enjoy fruitful and successful cooperation, voiced commitment to deepen the ties. Uzbekistan’s President Shavkat Mirziyoyev and Deputy Chairman of the Cabinet of Ministers, Foreign Minister of Turkmenistan Rashid Meredov discussed the expansion of practical Uzbek-Turkmen cooperation. The sides discussed the expansion of cooperation between the countries, as…

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Kyrgyzstan: foreign investments down in 2016

Foreign investment in Kyrgyzstan fell by a half from $1,573.2 billion in 2015 to $814,000 in 2016, the National Statistics Committee reported. Manufacturing industries accounted for a third of direct investments. Also, a significant share of investments is taken by geological exploration (20.3%), financial intermediation and insurance (22%). There was less direct foreign investment from…

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Azerbaijan: DemirBank to get new stakeholders

Stakeholders of Azerbaijan’s DemirBank decided to increase the bank’s total capital, the bank said in a message. The capital will be increased by transforming the bank’s external liabilities worth $105 million into Tier 1 capital, according to the message. The bank’s recapitalization plan approved by the stakeholders has already been submitted to the Financial Market…

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Ukraine: Boryspil airport provides discounts only to UIA in 2013-2016

The state-owned enterprise Boryspil International Airport in 2013-2016 provided discounts to the airport fees only to the private joint-stock company Ukraine International Airlines (UIA, Kyiv), according to recommendations of the Antimonopoly Committee of Ukraine dated June 14 and published recently. “The discounts were not provided to other airlines,” the committee said. The committee said that…

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