The hryvnia exchange rate may drop to UAH 28.5 per US dollar by the end of 2017, Oleh Ustenko, Executive Director of The Bleyzer Foundation, stated at a press conference on July 25. “We admit that at best, the exchange rate should be maintained at UAH 28.5 per US dollar by the end of the…
DetailsPresidents of Turkmenistan and Kyrgyzstan, Gurbanguly Berdimuhamedov and Almazbek Atambayev, during a phone conversation confirmed the existence of great potential for enhancing relations on a wide range of areas. In this regard, the sides noted the expediency of joint work on the issues of expanding the range of mutually supplied goods and services, creating conditions…
DetailsThe Ukroboronprom State Concern expects that tests will be conducted and the Ukrainian Navy will accept a radiosonic system created at the enterprises of the concern and used during the Sea Breeze 2017 multinational military drills in Odessa on July 10-22 with 16 countries taking part. The press service of the concern reported that the…
DetailsIn January-June the production volumes of crude sunflower oil in Ukraine totaled 2.87 million tons, up by 34.9% YoY, the State Statistics Service of Ukraine reported. In particular, in June Ukraine produced 451 thousand tons of sunflower oil, down by 8.1% MoM, but up by 45.2% YoY. Also, in January-June Ukrainian flour milling enterprises produced…
DetailsFinance Ministry has plans to raise excise tax on alcoholic beverages and cigarettes even more rapidly, according to proposals prepared by the ministry to the Excise Tax Law. These proposals have been submitted to the Saeima for approval in the final reading. FM explains that it is necessary because there are plans to apply greater…
DetailsIn January-June Ukraine exported 8,400 tons of potatoes worth $300,000, 95% of which was purchased by Belarus, the Ukrainian Agrarian Conference reported with a reference to the State Fiscal Service of Ukraine. “Belarus purchased 95% of Ukrainian potatoes indented for export, Moldova – another 2.6%,” reads a report. In January-June Ukraine exported 68% more potatoes…
DetailsPresident of Georgia Giorgi Margvelashvili sent a letter to his Turkmen counterpart Gurbanguly Berdimuhamedov on the occasion of the 25th anniversary of establishing diplomatic relations between the two countries, the Turkmen government said in a message. In his letter, Margvelashvili expressed readiness to deepen and expand mutually beneficial partnership with Turkmenistan. The Georgian president pointed…
DetailsAround 350 proposals have been received by the Latvian parliament in relation to tax reform laws. Last week, the Saeima supported tax reform laws in the first reading. This week, on the other hand, it is planned to review them in the final reading. Janis Vucans, head of Saeima’s Budget and Finance Committee, had previously…
DetailsUkrainian air carriers increased passenger transportation by 40% YoY in January-June, to 4.6 million people, according to the State Statistics Service. Passenger turnover for the period under review soared by 45.8%, to 8.9 million passengers/km, the report said. Air freight for the first 6 months of 2017 fell by 8.9%, to 4,000 tons, while cargo…
DetailsAzerbaijan’s President Ilham Aliyev has signed an order to provide funding for the construction of Zire-Turkan highway.
Under the presidential order, 3 million manats is allocated from the Presidential Contingency Fund for the construction of the highway, which connects two residential areas with the total population of 24,000 people. (Trend/Business World Magazine)
PrivatBank in January-March saw its net profit rise 3.52-fold, to UAH 744 million, the bank said in the information disclosure system of the National Commission on Securities and the Stock Market. Its net interest income increased by 22%, to UAH 959 million. After sending UAH 2.337 billion to the reserves for bad loans, the bank’s…
DetailsPJSC Agrarian Fund is planning to launch production of buckwheat and corn flours, the company’s board chairman Andriy Radchenko said. “My task consists in ensuring profitability of the company. Products with added value are more profitable than raw materials. Therefore we constantly expand this area. The range was widened consistently: first we launched production of…
Details5,735 new Toyota cars were sold in Baltic States in the first six months of 2017, up by 33% YoY. Toyota’s total market share in Baltics is 14.2%. Toyota sales in Latvia have grown by 25%. 1,264 new Toyota cars have been sold in Latvia since the beginning of the year. More than half of…
DetailsPrices of dairy products in Latvia will either remain on the current level or increase even more in the next couple of months. With that, there is no reason to expect price decline in the near future, predicts head of Agriculture Market Promotion Centre Inguna Gulbe. It was reported at the beginning of July that,…
DetailsNatural gas reserves in Ukrainian underground storage facilities (USFs) on July 15-22 increased by 2.9%, orby 355 million cubic meters, from 12.320 billion cubic meters to 12.675 billion cubic meters, according to the state-run gas transport system operator, Ukrtransgaz. The daily volume of gas injection into the USFs stood at about 58.7 million cubic meters,…
DetailsEnergy-rich Turkmenistan invites foreign investors to participate in the development of the gas and chemical industry. The country plans to build several large gas chemical complexes, a source in the fuel and energy complex of the country said. These large complexes will focus on the production of polyethylene, polypropylene, polyvinyl chloride, monoethylene glycol, dimethyl ether…
DetailsMore than half of Latvian employers pay their employees wages below the minimal monthly amount, said Director of the State Revenue Service Tax Control Office Sandra Karklina Admine on July 24. She says SRS puts a lot of effort into combating grey economy. Combating envelope wages will be one of this year’s main priorities, she…
DetailsThe Belarusian nuclear power plant will be fully commissioned in the summer of 2020, Rosatom Director General Aleksei Likhachev said during a meeting with Belarus President Alexander Lukashenko on July 24. “We worked all the day at the plant and discussed the state of affairs. We are ready to make an extensive report,” Aleksei Likhachev…
DetailsEnergy remains the basis of cooperation between Sophia and Baku, Azerbaijani ambassador to Bulgaria Nargiz Gurbanova said. “Azerbaijan regards Bulgaria not only as a country consuming Azerbaijani gas, but also as a transit country in the European area,” she said. The diplomat also stressed that Bulgaria fully supported the Southern Gas Corridor project, which envisaged…
DetailsAzer Turk Bank’s assets reached 311. 623 manats as of June 30, said the message posted on the bank’s website on July 24. Loan portfolio of the bank totaled 126.7 million manats. The aggregate capital of the bank, after payoffs, amounted to 54.811 manats, the capital adequacy ratio was set at 40.84%. The total income…
DetailsThe State Automobile Roads Agency, also known as Ukravtodor, even if the funds from reprofiling of government domestic loan bonds are sent to the company, would not be able to use them in 2017, Ukravtodor head Slawomir Nowak has reported. “If this was the money sent to the public road fund, it would have been…
DetailsThe Ukrainian Ministry of Economic Development and Trade has published a list of state enterprises, organizations and institutions that will either remain in state ownership or will be transferred to concession, privatized or liquidated. The Cabinet of Ministers approved the relevant documents that together represented a strategic vision for the further management of state-owned enterprises,…
DetailsFinance and Capital Market Commission in cooperation with Federal Bureau of Investigation’s Counterproliferation Center found out in a target inspection that Latvian banks – Norvik Banka and Rietumu Banka – had not followed requirements of regulations for the prevention of money laundering and terrorism funding. Violations are associated with client evaluation, which includes transaction monitoring…
DetailsThe new facility of the Belarusian-Chinese car factory BelGee will start mass production in August, Belarusian First Deputy Industry Minister Gennady Svidersky said. “We plan to conduct performance tests of the car-making plant in August. As many as 222 vehicles will undergo continuous testing. In August we will start mass production and will begin exporting…
DetailsThe tax reform submitted to the Saeima for approval is one big disappointment that will not improve competitiveness, said head of the Monetary Policy Office of the Bank of Latvia Uldis Rutkaste. According to him, the tax reform will not resolve the main problems of Latvia’s tax system. “The tax reform will not improve competitiveness…
DetailsAccording 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…
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