Chinese investors intend to build a noodle factory in Kazakhstan. Most likely, it will be erected in the food belt of Astana. The project cost approximates $47 million. The factory’s capacity will be 700 MT of noodle a day with a prospective expansion to 1000 MT. With regard to the grain quality, the Kazakh vice-minister…
DetailsThe trade and economic partnership was the central theme of the Turkmen-Russian summit talks in Ashgabat. “The parties noted its progressive and stable nature. Despite the objective difficulties associated with the situation in the global economy, Russia continues to be one of Turkmenistan’s largest trading partners,” says the report. Visits of the Turkmen delegations of…
DetailsLinda Line, which operates the high-speed catamaran Karolin connecting Tallinn and Helsinki, has canceled all of its October 3 departures due to poor sea conditions on the Gulf of Finland. Linda Line, which operates under the Linda Line Express brand, has a policy of canceling departures due to conditions involving wind speeds in excess of…
DetailsAzerbaijan’s Financial Market Supervisory Authority is studying the possibility of local banks’ merger, according to the monitoring report on the implementation of measures reflected in the Strategic Roadmap for the Development of Financial Services. The possibility of further capitalization of the banks is also being considered, according to the report. The Financial Market Supervisory Authority…
DetailsIn January-September Ukraine stepped up gas production by 2.6%. At the same time, the consumption decreased by 0.5%. “The production of gas at Ukrainian gas companies increased by 2.6% and amounted to 15.5 billion cubic meters over nine months of the current year,” reads the statement of the press service of PJSC Ukrtransgaz. As noted,…
DetailsIn 2016-2017 MY, Ukraine increased the supply volumes of flour products to African countries to 17.5% of the general exports, as opposed to the share at 8% in 2015-2016 MY. The similar situation developed with flour supplies to the Middle Eastern countries – 25.8% of the general exports in the season-2016-2017, against 18% in the…
DetailsThe largest project for industrial processing of natural gas in ammonia and carbamide is carried out by specialists of a consortium created by the Japanese Mitsubishi Corporation and Turkey’s Gap Insaat as part of the Calik Holding (Turkey) group of companies. The project is being implemented by the order of the Turkmenhimiya State Concern. The…
DetailsPoland is interested in boosting relations with Turkmenistan, Polish President Andrzej Duda said in his message to his Turkmen counterpart Gurbanguly Berdimuhamedov on the occasion of the 25th anniversary of the establishment of diplomatic relations between the two countries. Poland is interested in intensifying relations with Turkmenistan to use the potential of cooperation between the…
DetailsAs of October 2, Kazakhstan’s grain harvest exceeded 21,4 million tons, the Ministry of Agriculture reported. According to regional agricultural departments, as of October 2, a total of 15,185,700 hectares or 99.3% of areas under crops have been harvested across the country. Average yields amounted to 14.1 hundredweights per hectare. Last year, a total of…
DetailsTurkmenistan, a hydrocarbon-rich Central Asian country, is still hopeful to see its gas reach the European markets, while Brussels counties talks in this regard. The EU is negotiating with Azerbaijan and Turkmenistan over a Trans Caspian Pipeline System, said Anca Paduraru, EU Spokesperson for Energy Union projects. “Negotiations are on-going,” Paduraru said, when answering on…
DetailsThe former Krediidipank is officially launching operations under the new Coop Pank brand. All Krediidipank subsidiaries will likewise be switching to the new name. Coop Pank’s major stakeholder is Coop Eesti, a retail group consisting of 19 regional consumer cooperatives. According to Coop Pank board chairman Margus Rink, 14 bank branches across Estonia have been…
DetailsNatural gas reserves in Ukrainian underground storage facilities (USFs) on September 23-30 rose by 2.2%, or by 347 million cubic meters, from 16.048 billion cubic meters to 16.395 billion cubic meters, according to the state-run gas transport system operator Ukrtransgaz. The daily volume of gas injection into the USFs as of September 30 was estimated…
DetailsAccording to the official statistics figures, during the first 2 months of 2017-2018 MY (July-August) Ukraine exported 2.9 thousand of oats, down 2.4-fold YoY (nearly 7 thousand tons). In the reporting period, Pakistan became the largest importer of the Ukrainian grain, and purchased 78% of the general shipments, followed by Qatar (10%), and the United…
DetailsTurkmen President Gurbanguly Berdimuhamedov in his message to the National Security Ministry’s employees on the occasion of 26th anniversary of this authority said that the fight against corruption and bribery carried out jointly with other law enforcement agencies should be strengthened. “You must confront the challenges and threats of modernity, prevent the entry into the…
DetailsThe Reform Party’s leadership condemned the government’s budget policy, saying that Prime Minister Juri Ratas’ approach to the budget was reckless. The party’s chairman, Hanno Pevkur, said Ratas’ choices regarding the state budget undermined Estonia’s future. “In a situation where the economy is growing and the president of the Bank of Estonia as well as…
DetailsThe work is underway to improve the structure of the Council of the State Commission for Mineral Resources under the Cabinet of Ministers of Turkmenistan. Earlier, it was reported that the potential resources of Turkmen hydrocarbons are 71.2 billion tons of oil equivalent, some 53 billion tons of which are onshore, and 18.2 billion tons…
DetailsAccording to information released by Statistics Estonia, the production of industrial enterprises increased by 5% YoY in August, with production increasing in mining and quarrying, but decreasing in the energy sector. In August, manufacturing production was 6% higher than the same month last year. Production growth was broad-based – last month, production surpassed August 2016…
DetailsThe Ministry of Road Transport of Turkmenistan will purchase 250 KAMAZ-6520 trucks with a carrying capacity of 20 tons, the Turkmen government said. The relevant decree was signed by President Gurbanguly Berdimuhamedov. The truck market in Turkmenistan is a promising one for KAMAZ. Since 2006, the country has received more than 9,000 units of cars…
DetailsLatvenergo’s energy trading company in Estonia – Elektrum Eesti – has commenced selling natural gas to business clients, as confirmed by the company. Elektrum Eesti is the second largest electrical energy trader in Estonia. Now it will also start selling natural gas in addition to electricity, expanding the company’s services. The company will offer gas…
DetailsThe Asian Development Bank (ADB) has kept the forecast for GDP growth in Turkmenistan at 6.5%, according to the “Asian Development Outlook 2017 Update: Sustaining Development Through Public-Private Partnership”. According to the bank’s forecast, the economy of Turkmenistan will grow by 6.5% in 2018. Meanwhile, the ADB lowered its forecast for inflation in Turkmenistan for…
DetailsPJSC Kyivkhlib, the largest Kyiv producer of bread and bakery goods, in 2017 began to supply its own products to the United States. “We export long-term storage products – gingerbread, straws, dry bread crumbs, cracker rings. Most of all we ship to Germany. We supply products to Central Asia, the Baltic States, Israel, and Canada.…
DetailsPrime Minister of Ukraine Volodymyr Groysman believes the goal for 2018 is to achieve economic growth in the amount of 5% of GDP. “We need a quality economic environment, we need investments that will allow us to grow rapidly in 2018. Our goal is more than 5% of GDP. This is what is achievable, something…
DetailsAccording to the Statistics Committee at the Ministry of National Economy of the Republic of Kazakhstan, in August the production of wheat flour in the country increased by 6% MoM and totaled 291.5 thousand tons, which broke a record for the month. In the reporting month Kazakhstan produced 317.8 thousand tons of flour from grain…
DetailsThe Estonian state-owned port company Port of Tallinn is planning on launching the first vehicle gateways outfitted with automatic license plate recognition as part of its EUR 7 million project to upgrade gates and waiting areas in Tallinn’s Old City Harbor. The Port of Tallinn will implement the Smart Port concept in Old City Harbor,…
DetailsThe Riigikogu has ratified the EU-Canada Comprehensive Economic and Trade Agreement (CETA), which will give European companies the opportunity to operate under the same competition conditions as Canadian firms. 66 members of the Riigikogu voted in favor of the motion and 1 was against, according to a Riigikogu press release. Chairman of the Foreign Affairs…
DetailsCompared to July, the level of construction costs in Latvia grew by 0.1% in August. Maintenance and operational costs of machinery and equipment rose by 0.4%, labor remuneration of workers decreased by 0.1%, whereas prices of building materials did not change significantly. Compared to August 2016, construction costs increased by 2.3%. Labor remuneration of workers…
DetailsThe Belarusian heavy truck manufacturer BelAZ and the electric motors manufacturer OOO Sibelektroprivod signed an agreement on strategic partnership in Novosibirsk. The two companies will continue working together as part of the joint project aimed at creating an electric traction drive for BelAZ dump trucks with the carrying capacity of 90 tons. Apart from that,…
DetailsThe level of inflation in Ukraine at the end of 2017 may be higher than the current forecast of the National Bank of Ukraine at 9.1%, which may force the NBU to apply a more stringent monetary policy, reads a statement on the central bank’s website referring to Deputy NBU Governor Dmytro Solohub. During a…
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