International rating agency Moody’s expects the Russian economy to rise by 1.5% in 2017 after a 1% fall in 2016, the agency said in a statement. In July, the agency expected Russia’s gross domestic product (GDP) to fall by 1.5% in 2016 and to rise by 0.5-1.5% in 2017. Moody’s also expects the asset quality…
DetailsThe international rating agency Fitch Ratings has affirmed Kazakhstan-based JSC KazTransOil’s (KTO) Long-Term Foreign Currency Issuer Default Rating (IDR) at ‘BBB-‘ with a Stable Outlook, the rating agency reported. “The ratings reflect KTO’s strong operational and financial profile, which we expect the company to maintain at least over the medium term, as well as its…
DetailsKaliningrad Railway is looking into launching a train for 40-foot containers from the Port of Gdansk (Poland) to Moscow and other regions of Russia via the Kaliningrad region, Victor Golomolzin, head of Kaliningrad Railway, said. According to him, this project can become an alternative to transportation of containerized cargo delivered to Gdansk from China and…
DetailsThe joint venture of Power Machines and Toshiba will deliver transformer equipment for a 500 kV substation of ZapSybNeftekhim, a fuel and petrochemical refinery under construction in Tobolsk (part of SIBUR Holding PJSC) – Russia’s most ambitious petrochemical project. Power Machines – Toshiba. High-Voltage Transformers (PMTT), a Russian company established in 2011, with operational assets…
DetailsInternational Finance Corporation (IFC) is considering the possibility of financing the Southern Gas Corridor project, IFC representative in Azerbaijan Aliya Azimova said. She pointed out that this project was of great importance for the entire region. “We constantly follow the ongoing processes in this project and systematically connect with its main participants. However, for the…
DetailsThe share of hard-to-recover oil in Russia’s reserves has reached 65% of the total volume, according to a draft 2030 strategy for development of the country’s mineral resource base released by the Federal Mineral Resources Agency. The total amount of oil in place under the A, B and C1 categories in Russia exceeds 18 billion…
DetailsConstruction of a pipeline through Greece for supplies of Russian gas to Europe is a purely economic project and Athens is determined to implement it as soon as possible, Special Adviser to the Greek Prime Minister Dimitris Velanis said. “We will certainly go for implementation of the project. And Europe knows it”, he said. The…
DetailsThe Global Cold Chain Alliance (GCCA) is prepared to help Azerbaijan expand the potential of agribusiness and make Azerbaijani agricultural products reach domestic and foreign markets, GCCA Vice President of International Programs Richard Tracy said. Tracy said he was impressed by some enterprises in Azerbaijan, adding that they fully met international standards, however, some businesses…
DetailsKazakhstan’s economy attracted more than 1.3 trillion tenges in foreign investment in January-July, up by 25% YoY, Ranking.kz analytical service said in its report. In July alone 181 billion tenges were injected into Kazakh economy, up by 5.3% YoY. However, foreign investments in fixed capital accounted only for 28% of total investments. The highest share…
DetailsFerryboat Baltijsk is planned to be returned to Ust-Luga-Baltijsk line in September, Andrei Moshkov, Deputy Director General of Rosmorport’s North-West Basin Branch referring to ferryboat operator Trans-Exim Ltd., said. Andrei Moshkov says the ferryboat’s engine is under repair. Ust-Luga – Baltijsk line was earlier serviced by three ferryboats: Baltijsk and Peterburg operated by Trans-Exim Ltd.…
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