Belarusians pay as much as 72% of the prime cost of electricity, Mikhail Malashenko, Deputy Chairman of the State Standardization Committee, Director of the Committee’s Energy Effectiveness Department, declared. “At present the population pays 72% of the prime cost of electricity and 17% of the prime cost of heating energy,” noted Mikhail Malashenko. In his…
DetailsThe direct work on implementation of the Dushanbe-Qurghon Teppa road rehabilitation project will start only after it is endorsed by Tajik parliament. Tajikistan’s lower house (Majlisi Namoyandagon) must ratify a finance agreement concluded between the government of Tajikistan and the Asian Development Bank (ADB). The ADB Board of Directors has approved $65.2 million in loan…
DetailsThe State Competition Committee received the World Bank mission in Uzbekistan to discuss small business support through the Small Business Development Guarantee Fund. Held under the World Bank’s Modern Economy-backed Job Expansion and Skill Development Project, the meeting reviewed small businesses’ efficiency and praised the setting up of the Guarantee Fund. Specialists said they were…
DetailsThe European Investment Bank (EIB) has provided the second senior loan of EUR 20 million to AccessBank. The loan will be utilized by AccessBank to provide financing to small and medium enterprises in Azerbaijan. Since AccessBank is a leading bank in Azerbaijan specialized in providing financial services to local micro and SME businesses in the…
DetailsUkraine’s Cabinet of Ministers has approved a project on construction of the second stage of Dnistrovska hydroelectric pumped storage power plant, consisting of unit 4. As reported, the hydroelectric generation development program until 2026 approved by government resolution No. 552-r dated July 13, 2016 envisages the start of construction of unit 4 in 2017 and…
DetailsIt is possible to reduce the cost of gas for the end-consumer by introducing a competition on the gas market and an energy efficiency reform, Deputy Prime Minister – Minister of Regional Development, Construction and Housing and Communal Services Hennadiy Zubko said during an Hour of questions to the government. “How can we reduce the…
DetailsShareholders of the Open Joint-Stock Company (OJSC) Tojik Sodirot Bonk (TSB), which is Tajikistan’s second largest commercial bank, will discuss the results of the bank’s activity and its further fate at an annual meeting of shareholders that will take place in Dushanbe on April 29. In accordance with the decision of the TSB Supervisory Board,…
DetailsRussian Lada cars are still the most popular brand in Kazakhstan, Kazakh Union of Automobile Industry Enterprises said in a message. In February official dealers in the country sold 467 Lada cars. Japanese Toyota was the second best seller in Kazakhstan with 465 cars sold in the reporting month. French Renault with 238 cars sold…
DetailsDushanbe authorities have launched two new routes and introduced changes to a number of operational routes. Thus, Dushanbe authorities have launched a new minivan route from Chortut area to the Dushanbe city Southern Gate. Minivan No. 42 runs along this route. The Dushanbe administration has also re-launched a trolleybus route from Qariyai Bolo to the…
DetailsLabor minister A. Abduhakimov received the World Bank mission, led by Afrah al-Ahmadi, senior specialist on private sector Christopher David Miller, senior economists of the World Bank Mohamed Ihsan Ajwad and Oleksiy Sluchinskiy. The purpose of the meeting was extensive consultation on the concept, scope and content of the components of the project initiated by…
DetailsThe National Bank of Ukraine (NBU) has simplified the purchase of foreign currency for certain transactions, according to the central bank’s website. The NBU, in particular, allowed business entities to buy currency at the expense of loan funds in the hryvnia attracted under state guarantees for implementing programs related to improving the defense capacity and…
DetailsBelarus is expected to increase rapeseed output in 2017. According to market operators, rapeseed winterkilling did not exceed 3% that is the minimal level over the last seasons and it could be offset by spring varieties. On the assumption of average yield at 1.6 ton/ha, rapeseed production could at least double last year result. Weather…
DetailsThe Ministry of economy of the Republic of Uzbekistan held a meeting with the President of the European Bank for reconstruction and development Suma Chakrabarti. EBRD delegation was informed in detail about the achievements of the socio-economic development of the country in recent years, in particular about large-scale economic reforms aimed at further structural transformation…
DetailsThe international ratings agency Fitch Ratings expects that the Azerbaijani economy will grow by 0.2% in 2017, says the agency’s report on Azerbaijan that was made public at the sixth annual meeting in Baku on March 16. It should be noted that the country’s GDP decreased by 3.8% in 2016. Meanwhile, experts forecast the resumption…
DetailsSince the beginning of 2016/2017 MY, Ukraine has exported 30.83 million tons of grains, the Ministry of Agrarian Policy and Food of Ukraine declared. In particular, wheat exports totaled 13,97 million tons, barley – more than 4.7 million tons, and corn – 11.91 million tons. Flour export reached 267.8 thousand tons, including 266.7 thousand tons…
DetailsResidents of villages in the upper Vanj valley of the Gorno Badakhshan Autonomous Region (GBAO) have begun receiving electricity. Abdullo Amonbekov, a spokesman for Pamir Energy Company, says the small hydroelectric power plant “Tekharv” with capacity of 400 kW, located in the Vanj district, has begun generating electricity after major repairs. “This has allowed us…
DetailsTwo troubled commercial banks – Tajprombank (Tajik Joint-Stock Commercial Industrial Bank for Reconstruction and Development) and Fononbank – have begun paying out savings to their customers. The banks began to pay out savings starting from March 16, according to the Deposit Insurance Fund, which insures savings deposits of physical entities. The Dushanbe Economic Court launched…
DetailsThe Bishkek mayor’s office plans to raise the salaries of local government employees, Vice Mayor Ernis Zarlykov declared at the regular session of the City Council on March 16. According to him, the mayor ordered to analyze the general policy of payment to workers of local self-government. “Today, sweepers, librarians and others receive a small…
DetailsSFGCU PJSC exported almost 1.5 million tons of grain and oilseed crops during 8 months of the current season, the press-service of the company informed on March 15. The export was carried out despite lack of grain hoppers at the level of 45% of need. Plan for March is fulfilled at 86%, more than 180…
Details“The Russian-Kyrgyz Development Fund has become an elite business fund,” Bakyt Torobayev, leader of Onuguu Progress faction, said at a meeting of Parliament on March 16. According to him, now the fund works for the interests of certain persons. Initially, it was created in order to adapt the economy of Kyrgyzstan to the norms of…
DetailsThe National Bank of Ukraine (NBU) has suggested implementing the National Security and Defense Council (NSDC) decision by banning the Ukrainian subsidiaries of Russian state-owned banks from moving capital outside Ukraine. “The imposition of such sanctions means prohibiting the carrying out of any financial operations in favor of the parent bank, i.e. granting interbank loans,…
DetailsIn February Ukraine exported a record for this month of 441.7 thousand tons of sunflower oil. However, the volume is 5% lower MoM. During the first half of 2016/2017 MY (September-February), Ukraine exported 2.7 million tons of sunflower oil, up by 23% YoY, which became a historical maximum. Analysts forecast total export of Ukrainian sunflower…
DetailsIn January-February, Kaliningrad Sea Commercial Port handled 618,000 tons of cargo, up by 38% YoY, the stevedoring company says. In the reporting period, transshipment of general cargo totaled 126,400 tons (including 114,500 tons of metal), 393,000 tons of dry bulk cargo, 38,700 tons of liquid bulk cargo, 4,100 tons of other cargo and 1,900 tons…
DetailsThe European Union is ready to provide all-round support to Belarus in developing small and medium-sized enterprises (SMEs), Head of the European Union Delegation to Belarus Andrea Wiktorin said at the presentation of the peer review project “Upgrading SME Capacity Through Business Support Services in Belarus” on March 15. Andrea Wiktorin emphasized the urgency of…
DetailsThe largest European low-cost airline Ryanair in October intends to launch its flights for four destinations flying from Kyiv and seven from Lviv. Ryanair Chief Commercial Officer David O’Brien said at a briefing in Kyiv on March 15, that flights to Eindhoven, London, Manchester and Stockholm would be launched from Kyiv. It is planned to…
DetailsTotal debts of the Ukrainian consumers for consumed electricity as of February 1, amounted to UAH 26.4 billion, of which UAH 1.2 billion was accumulated in 2017, the Energy and Coal Industry Ministry reports. In particular, this year debts of industry for consumed electricity grew by UAH 409.2 million, debts of population – by UAH…
DetailsOn March 14, the Chamber of commerce and industry of Uzbekistan held a meeting with the chairman of the board of the Canadian Business Association in Russia and Eurasia (CERBA) Nathan Hunt. In negotiations with the chairman of the Chamber of commerce and industry Alisher Shaykhov, it was noted that trade and economic cooperation between…
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