Fitch Ratings has affirmed Ukraine’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B-‘ with a Stable Outlook. This is stated in the agency’s press release. “We forecast Ukraine’s GDP growth to decelerate to 2% in 2017 before picking up to 3% in 2018 on the back of improving consumer demand and investment,” the…
DetailsAlfa-Bank (Kyiv) in January-March received UAH 6.876 million of net profit against UAH 536.849 million of net loss for the same period in 2016. According to a bank financial report released on its website, its net interest income in the reporting period increased 2.63-fold, to UAH 653.827 million. Excluding expenses for the formation of reserves,…
DetailsCompared to March 2016, total retail trade turnover in Latvia rose by 1.5% in March 2017. Turnover of retail trade in food products declined by 0.8%, whereas turnover of retail trade in non-food products grew by 3.3%. The most significant turnover growth in the non-food product group was recorded in retail sale of information and…
DetailsBelarus has reduced beer imports 5-fold in the past two years, Chairman of Belgospishcheprom Concern Alexander Zabello said. “I cannot say that the domestic brewing industry makes no headway. Yes, the sales are shrinking a bit, but we do not have a 10-15% slump as the neighboring countries are registering. Beer exports have reduced 5-fold…
DetailsOn April 28, president Emomali Rahmon and Dushanbe Mayor Rustam Emomali attended a ceremony of opening of the National Reference Laboratory, according to the Tajik president’s official website. The total cost of the laboratory is 23.8 million somoni, including 7.857 million somoni spent for construction of the building and 16 million somoni spent to provide…
DetailsNegotiations over the suspicion of flights by two Russian airlines to Tajikistan and by Tajik private air carrier to Moscow that resumed in Moscow on April 25 are still going on. “The negotiations were supposed to be concluded on April 26, but the sides have not yet come to an agreement on flights by Russian…
DetailsAn OSCE-organized training course on security procedures at aviation checkpoints and analyzing X-ray images for aviation security and law-enforcement personnel has been held in Ashgabat, the OSCE said in a message. The practical training course brought together 19 officials from the Aviation Security Service of Turkmenistan Airlines, the Transport Police of the Interior Ministry, the…
DetailsOn the outcomes of the activities of 2016 as well as of the first quarter of 2017 the country shows a positive trend of gradual economic upturn, and this should be the basis and the key to boost investment in the country and ensure implementation of successful projects in the real economic sector, Ukrainian Prime…
DetailsUkraine’s State Treasury on April 26 refunded VAT to 2,704 taxpayers for UAH 9.946 billion. The authority said that VAT was not refunded to 13 taxpayers for UAH 5.969 million, as the wrong information about the bank’s address was presented, as the bank was under liquidation. The treasury said that information about the state of…
Details12.1 KMT of mayonnaise was produced in Ukraine in March, up by 46% MoM (8.3 KMT). In addition, March’s mayonnaise production exceeded the two-year average (10.4 KMT). In total, 28.2 KMT of mayonnaise was made in Ukraine in January-March, down by 5.7% YoY (29.8 KMT in January-March 2016). Analysts expect this year’s mayonnaise output in…
DetailsAccording to the data of Association of Latvian Commercial Banks, compared to 2015, the number of POS terminals in Latvia increased 16% in 2016, reaching 41,613 terminals in total. On average, 494 new POS terminals are released in the country. Aside from that, the number of legal persons using POS terminals to process clients’ payments…
DetailsThe number of banks with a “problem” status has reduced from five to three, Deputy Governor of the National Bank of Ukraine (NBU) Kateryna Rozhkova has stated. “Two out of five problem banks were transferred to the Deposit Guarantee Fund, namely Vector Bank and Diamantbank,” Rozhkova said. Currently, there are three problem banks in Ukraine’s…
DetailsTajik President Emomali Rahmon has given start to construction of a number of new administrative and educational facilities in Dushanbe, according to the Tajik president’s official website. Rahmon attended a groundbreaking ceremony for construction of a new building for the Supreme Court of Tajikistan. An estimated budget for construction of a new 16-story building of…
DetailsThe term of receiving tender applications for construction of converter substation for the CASA-1000 Project at Sangtuda has been extended again; this time till May 11, according to the CASA-1000 website. The matter reportedly concerns the search for contractors for construction of converter substation in Sangtuda (Tajikistan) and Nowshera (Pakistan). This tender process was supposed…
DetailsThe consolidated net profit of PJSC Motor Sich in the first quarter of 2017 according to the international financial reporting standards (IFRS) amounted to UAH 1.457 billion, up 4.8-fold YoY (UAH 304.67 million), according to the company’s quarterly report. According to its data, net sales income in January-March this year increased by 63.4%, to UAH…
DetailsThe tax policy reform will make Latvia more competitive in comparison with other Baltic States. In addition, reforms in the country will introduce the largest PIT benefits for dependents among other Baltic States, Finance Ministry promises. “Tax burden decline for labor taxes and increased benefits will be felt by all residents,” the ministry states. PIT…
DetailsUkraine has entered the Top 5 ranking of the world’s largest mustard producers, the Ukrainian Agribusiness Club (UCAB) reports, referring to the data from the Food and Agriculture Organization of the United Nations (FAO). In particular, the world’s largest exporters of mustard include Canada, Ukraine, Russia, Germany and India. The major importers of mustard are…
DetailsThe document specifying how much food Belarus and Russia intend to trade in with each other in 2017 has been preapproved, Alexei Bogdanov, Head of the Central Office for Foreign Economic Activities of the Belarusian Agriculture and Food Ministry, reported on April 27. According to him, a joint session of the boards of the Belarusian…
DetailsThe National Bank of Tajikistan (NBT) predicts further food price hike under the pressure on the exchange rate of the national currency, the somoni, against the dollar (USD). Tajik central bank forecasts that prices for imported food products will begin to rise starting from the second quarter (April-June). The NBT specialists say negative inflation expectations…
DetailsNew taxis of Peugeot and JAC models assembled in Kazakhstan are expected to appear on Dushanbe’s streets next month. Holding Asia Group Tajikistan Company says 120 Peugeots and JACs will arrive in Dushanbe before June. Top manager Sulton Kamolov says the company now has 100 KIA and Toyota cars which are used as taxis. “These…
DetailsState-owned enterprise Boryspil International Airport, the largest airport in the country, saw a 2.1-fold YoY rise in net profit in January-March, to UAH 372.293 million. According to a financial report of the airport, its net revenue in Q1 grew by 32.7%, to UAH 893.5 million. Boryspil International Airport is the main airport of Ukraine. The…
DetailsPersha Pryvatna Brovarnia, a large brewery in Ukraine, has received a license form Heineken Concern to produce Czech beer Krusovice and will start its production in early June. “This year we received a license from Heineken Concern to produce Krusovice and in a month will start producing this famous Czech beer,” the co-owner of Persha…
DetailsUBC Group (Kharkiv), a commercial and industrial holding working in the field of refrigeration appliances, will launch the first stage of a refrigerator plant in Vinnytsia in autumn. “We now have a problem with production capacities. We need new production capacities to increase the market share in Western Europe and America. And we are building…
DetailsAccording to forecasts of the UN Food and Agriculture Organization (FAO), in the following season (June-July) Tajikistan will import 1 million tons of wheat, which is below the annual average level for the country. In February-March the weather conditions in the agricultural regions of Tajikistan were favorable for development of winter crops. Precipitation was higher…
DetailsThe Aga Khan Fund for Economic Development (AKFED) has added another telecoms operator to its portfolio by buying Telia Company’s 60% stake in Tajikistan operator Tcell. AKFED already owned the other 40% and is reportedly paying just $27.7 million for the rest. AKFED owns Afghanistan’s Roshan mobile operator, which in turn also owns Smart Telecom,…
DetailsThe Belarusian government expects real revenues of the population to rise, Prime Minister of Belarus Andrei Kobyakov declared. According to the head of government, real salaries in Belarus rose by 1% in Q1 (by 0.5% in January-February). According to statistics, in March the average salary was slightly above Br770. “Salaries are on the rise. The…
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