“The government allocated low interest loans of more than 2 billion manats for entrepreneurs over the last years, of course, entrepreneurs also invested their funds. As a result of this initiative, nearly 4 billion manats or perhaps even more funds were allocated to the real sector of the country’s economy,” said President of the Republic…
DetailsThree companies have submitted applications to store natural gas in Ukrainian underground gas storage (USG) facilities in the customs warehouse regime, a source in the Energy and Coal Industry of Ukraine has reported. The source said that in coming days first pumping could start and first documents would be signed. Until recently, the customs clearance…
DetailsUkraine in the first half of 2017 implemented 415 international technical assistance projects worth a total of $5.32 billion, the press service of the Ministry of Economic Development and Trade reported. The major donors of technical assistance remained the U.S. with 104 projects worth $1.5 billion, the European Bank for Reconstruction and Development with 39…
DetailsFinnish carrier Finnair has announced that it will add 17 weekly flights to the Helsinki-Tallinn service in the summer 2018 season, flying up to ten trips between the two capitals a day. In addition, Finnair will add three new destinations and capacity to its popular long-haul destinations. Up to three additional departures per day will…
DetailsEstonia continued to be a net saver, and the country’s economy was not about to overheat, Tonu Palm, chief economist at Nordea, said in his comments on the reported 5.7% GDP growth. “The economy’s rapid growth stems from a low reference base in a situation where there has been underinvestment for years. Loan growth is…
DetailsCompared to Q1 Latvia’s gross domestic product at constant prices increased by 1.2% in Q2. Compared to the corresponding period of 2016, in Q2 the GDP grew by 4% according to seasonally and calendar non-adjusted data and by 4.8% according to adjusted data. In Q2, the GDP amounted to 6.8 billion euros at current prices…
DetailsLatvia’s unemployment level was 8.5% in July. This is the eighth highest level among EU member states, according to data published by Eurostat. According to this data, unemployment levels were higher in Spain (17.1%), Italy (11.3%), Cyprus (10.8%), Croatia (10.6%), France (9.8%), Portugal (9.1%) and Finland (8.8%). The lowest unemployment levels were registered in the…
DetailsBelarus-Vietnam trade increased almost by one third in H1, Vietnam’s Ambassador to Belarus Le Anh announced. “Over the six months of 2017 the bilateral trade grew by 29.8% YoY. We have another six months to increase the figures. There are prospects to reach great results by the end of the year,” said Le Anh. According…
DetailsKazMeat, the Kazakh brand, has been exhibited for the second time at the ANUFOOD China-2017 international food exhibition held in Beijing. “In 2016, three umbrella brands were created in Kazakhstan: KazMeat, Qazaq Organic Food, and Halal Kazakhstan. Now, our major goal is to promote these brands abroad. Today, we are promoting the umbrella brand of…
DetailsTurkey 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…
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