Turkey earned $204 million from exports of ice cream to 68 countries and 4 Free Trade Zones over the past five and half years. The Turkish Statistical Institute (TUIK) reported that nearly 88.400 tons of ice cream were exported in the aforementioned time period, with Iraq, Kosovo, Albania, Northern Cyprus, the United Arab Emirates and…
DetailsOrnex, a company operated by SCM Group, has bought a 25% stake in DTEK Dniproenergo and DTEK Dniprooblenergo from the State Property Fund of Ukraine. The deal has taken place at PFTS Stock Exchange. The company paid UAH 728.236 million for a 25% stake in DTEK Dniproenergo, and UAH 1,004.676 billion for a 25% stake…
DetailsPrime Minister Volodymyr Groysman says that Ukraine and Lithuania may achieve a mutual trader turnover of $1 billion a year. He stated this at a meeting with Viktoras Pranckietis, Speaker of the Seimas of the Lithuanian Republic, in Kyiv on August 31. “The level of bilateral trade is quite high. We’d like to set the…
DetailsThe opening of the “Turkmenistan” trading house has taken place in Mazar-i-Sharif city of the Afghan province of Balkh. The project was implemented by the Union of Industrialists and Entrepreneurs of Turkmenistan together with Afghan private companies with the assistance of state structures of the two countries. The opening ceremony was attended by heads of…
DetailsThe combined power plant in Paide now has a new liquid natural gas (LNG) boiler unit to cover peak-time demand. The plant usually burns wood chips, but so far depended on an old fuel oil boiler for peak-time production. Eesti Energia’s renewable energy subsidiary, Enefit Taastuvenergia, announced that the change would allow them to finally…
DetailsAccording to Statistics Estonia, the gross domestic product (GDP) of Estonia increased by 5.7% in the second quarter of 2017 compared to the same period in 2016. In the second quarter GDP at current prices reached EUR 5.8 billion. The seasonally and working-day adjusted GDP grew by 1.3% QoQ and by 5.2% YoY. The biggest…
DetailsCompared to July 2016, the total retail trade turnover rose by 3.9% in July 2017. Turnover of retail trade in food products increased by 4.6%, and turnover of retail trade in non-food products grew by 3.3%. The most significant turnover growth in non-food product group was recorded in retail sale of information and communication equipment…
DetailsThe number of companies that are indebted to State Revenue Service continues to increase. Since May there has been an increase in the number of people engaged in business activities, as well as the number of debtors to SRS, according to data from the Credit Information Bureau. CIB’s database has information about 44,000 businesses’ and…
DetailsCotton harvesting campaign started in Turkmenistan’s Akhal, Lebap and Mary provinces on August 30, this is while in Dashoguz province, the cotton harvesting will start on September 6, the Turkmen Ministry of Agriculture and Water Resources reported. It is planned to harvest 1.05 million tons of raw cotton in Turkmenistan. Raw materials and derivatives are…
DetailsKyrgyzstan exported to Uzbekistan 1.2 billion kilowatt-hours of electricity. This was said at the meeting of the republican headquarters for the preparation for the autumn-winter period-2017/2018 by the chairman of the National Energy Holding Company Aibek Kaliev. According to him, exports to a neighboring country began on June 16, and as of today amounted to…
DetailsPJSC Farmak pharmaceutical company will invest UAH 230 million in the development of projects in 2017, Farmak CEO Augustin Dubnicka has said. According to Dubnicka, at present the company uses and plans to use mainly own funds for the development of projects, although in the past the company used a certain amount of attracted resources.…
DetailsOvostar Union, a leading shell egg producer in Ukraine, saw $3.9 million of net profit in January-June, down by 56.5% YoY. According to a company report published on August 30, revenue over the period grew by 6%, to $36.5 million, while gross profit narrowed by 28%, to $8.5 million, and operating profit declined by 40%,…
DetailsThis year’s September may turn out rather good for gardening and fruit harvest, predicts Latvian Rural Advisory and Training Centre’s senior gardening specialist Maris Narvils. He says there are currently no concerns for any sudden weather changes to impact fruit growers in the coming weeks. September may be rather beneficial to gardening work and fruit…
DetailsThe National Bank of Ukraine (NBU) has allowed banks to provide loans in domestic currency against the collateral of foreign currency on customers’ accounts. This has been reported by the press service of the central bank. “As part of further relaxations of anti-recessionary foreign exchange restrictions, the National Bank of Ukraine has allowed banks to…
DetailsTurkmenistan is developing a project for construction of a new gas chemical complex near the Kiyanly village of the country’s Balkan region. The complex is designed for processing 2 billion cubic meters of natural gas and 117,000 tons of sodium chloride. It will produce 390,000 tons of polypropylene, 200,000 tons of linear low-density polyethylene, 100,000…
DetailsSwedbank raised Estonia’s 2017 real growth forecast by 1.3%, to 3.5%, and next year’s forecast by 0.4%, to 3.2% in its latest economic outlook. In April the bank estimated that Estonia’s gross domestic product growth would total 2.2% this year, and 2.8% in 2018. The newly revised forecast is a lot more optimistic, though the…
DetailsThe law that provides stricter language requirements for procurement of agriculture land is not discriminatory towards citizens of other European Union member states, says Latvian Agriculture Ministry, commenting on complaints submitted to EC center for setting conflicts Solvit by foreign businessmen in relation to the requirements imposed by Latvia on privatization of land. “According to…
DetailsSugar refineries in Vinnytsia region intend to produce 375,000 tons of sugar in 2017, up by 10% YoY, according to Ukrtsukor National Association of Sugar Producers of Ukraine. India, Iran, Azerbaijan and China told Vinnytsia authorities they were interested in the purchase of sugar produced in the region. In 2017, seven sugar refineries will operate…
DetailsThe mechanical engineering company Belkommunmash is exploring the possibilities of supplying electric buses to Moscow, St Petersburg, and Yekaterinburg, Vitaly Shkuratov, head for marketing and sales in Belarus and Russia at the Management Company of the Belkommunmash Holding Company, reported. “We are considering exporting electric buses to Moscow, St Petersburg, and Yekaterinburg. The trial operation…
DetailsTajikistan is keen to develop cooperation with Azerbaijan in all fields, said Tajik Ambassador Soli Rustam as he presented a copy of his credentials to Foreign Minister Elmar Mammadyarov.
He noted that he would spare no efforts to contribute to developing the bilateral ties during his tenure. (AzerNews/Business World Magazine)
The modernization of the Bishkek thermal power plant in Kyrgyzstan is completed. President Almazbek Atambayev will open the renewed heat and power plant. It is noted that after the works, the installed capacity of the TPP reached 812 megawatts. It increased by 300 megawatts due to commissioning of two new power units. Another difference is…
DetailsNational Energy Company Ukrenergo intends to draw on international financial organizations (IFOs) as the source for its investment projects, Ukrenergo chief Vsevolod Kovalchuk said at a presentation in Kyiv while briefing on the company’s plans for 2018. “We will complete current large investment projects with the use of funds from tariffs, but we will not…
DetailsThe state-owned Ukrainian rocket maker Pivdenmash (also known as Yuzhmash) Machine Building Plant is preparing a new batch of engines for the European launch vehicle (LV) Vega to ship to the European partners, the press service of the enterprise has reported. According to the report, in Q2 Pivdenmash produced two liquid fuel rocket engines RD-843…
DetailsTurkmenistan and neighboring countries of the region, which have large stocks of hydrocarbon, advocate for the diversification of the energy flows. The Parliament of Turkmenistan adopted new draft regulations on “Ratification of an agreement on strategic cooperation between Turkmenistan and the Republic of Uzbekistan” and “Ratification of an agreement on strategic cooperation between Turkmenistan and…
DetailsState institutions have to perform specific functions to secure payment of taxes in the interest of all residents. Without a doubt, every person working in state administration should promote awareness of residents on the importance of paying taxes. However, according to international practices, there are other creative tools to motivate people to participate voluntarily, explains…
DetailsThe price of tickets for train No. 67/68 Kyiv-Warsaw-Kyiv from September 3 by agreement between Ukrainian and Polish railways will be reduced. According to the press service of PJSC Ukrzaliznytsia, starting from September 3 the cost of travel from Kyiv to Warsaw will be UAH 1,340, while the current ticket price is UAH 2,441. Train…
DetailsA total of EUR 80 million will be available in Latvia’s budget for 2018, as confirmed by Finance Minister Dana Reizniece-Ozola after the government’s extraordinary meeting. On August 29, the Cabinet of Ministers discussed requests of different ministries for priorities. Previously, the total value of priorities submitted by ministries was estimated at EUR 600 million.…
DetailsIn July Kyrgyzstan’s gross international reserves increased by $32.65 million, according to the National Bank. As of the end of July, reserves amounted to $2 billion 61.7 million. This is the highest rate since October 2016. It should be noted that the National Bank spends international reserves on smoothing the sharp fluctuations of the national…
DetailsAssets of Azerbaijan’s AtaBank OJSC have increased by 30%, to 609.9 million manats since the beginning of 2017, said Chairman of the bank’s Executive Board Dayanat Guliyev. He made the remarks at the signing ceremony of a partnership agreement with the Chinese UnionPay in Baku. “AtaBank is one of the country’s leading banks in terms…
DetailsAntonov state enterprise (Kyiv) in January-June saw net profit under Ukrainian accounting standards fall by 66.59% compared to the same period in 2016, to UAH 22.79 million. According to the financial report on the website of the enterprise, its net income in the first half of the year increased by 37.7%, to UAH 2.223 billion.…
Details