Some $25.47 million has been withdrawn from Bank National Credit in favor of insiders, the Individuals’ Deposit Guarantee Fund reported on its website. “The amount equivalent to a quarter of the balance sheet of PJSC Bank National Credit has been debited from the correspondent account of Bank Frick and Co Aktiengesellschaft (Liechtenstein) in favor of…
DetailsUkraine exported 330 KMT of flour in the ten months of MY 2016-2017 (July 2016 – April 2017), up by 16% YoY. Traditionally, China remains the top importer of Ukrainian flour with an export share of 21%. Ukrainian exporters continue stepping up flour deliveries to Africa. In particular, more than 28 KMT of flour was…
DetailsA Chinese company plans to invest its funds in the Bank Moscow-Minsk, manager for Belarus at DRex Food Group Zoya Kavaleva reported after the talks with Belarus Agriculture and Food Minister Leonid Zayats on June 12. “We would like to invest in the bank. We want to buy a stake in the bank or some…
DetailsTurkmenistan plans to establish regular air service with Tajikistan in the near future. The flights will be carried out under the bilateral agreements. A Turkmen delegation took off to Dushanbe where it would hold talks in the framework of the agreements on expanding bilateral cooperation. Officials of Turkmenistan Airlines (national carrier) and Turkmenistan Airline OJSC…
DetailsAverage wages in Ukraine are expected to increase by 38%, to UAH 7,100, by the beginning of 2018, the press service of the Social Policy Ministry of Ukraine has reported. “The wage reform also provides for the revision of wage setting with a view to gradually raising real wages and eliminating wage arrears,” Minister of…
DetailsUkraine shipped 48,400 tons of sugar abroad in May, down by 33% MoM, according to the Ukrtsukor association of sugar producers. “In May, sugar exports fell by almost half compared to April, as the world market prices were on the decline. We estimate that further supplies in the current marketing year will be insignificant,” the…
DetailsIn January-April Belarus’ export of merchandise and services rose by 19.5% YoY, to $10.413 billion, according to the latest statistics released by the National Bank of the Republic of Belarus. Foreign trade in merchandise and services totaled $20.706 billion, up by 17.9%. Export reached $10.413 billion (up by 19.5%), with import at $10.292 billion (up…
DetailsAzerbaijan’s Rabitabank OJSC plans to increase its authorized capital through the new issue of shares, according to the bank’s message. The issue will be discussed during the extraordinary meeting of the bank’s shareholders, to be held on July 14. Meanwhile, the changes to Rabitabank’s regulations will also be discussed in connection with the new issue…
DetailsTIU Canada is launching the construction of a 10 MW solar power plant in the territory of Nikopol Ferroalloy Plant, the company’s press service has reported. TIU is owned by the Canadian investment company Refraction Asset Management. Nikopol Ferroalloy Plant is the largest Ukrainian enterprise for production of silicomanganese and ferromanganese. The plant is controlled…
DetailsIn April Latvian foreign trade turnover amounted to EUR 1.88 billion, up by 0.5% YoY, and the exports and imports values of goods were 1% and 0.2% higher, respectively. In April Latvia exported goods in the amount of EUR 859.6 million, and imported goods in the amount of EUR 1.02 billion. The foreign trade balance…
DetailsIn January-May the Freeport of Riga handled 14,879,700 tons of cargo, down by -4% YoY. Coal transshipment climbed by 10.4%, to 5,531,700 tons, oil products dropped by 30.8%, to 2,845,500 tons, wood pellets increased by 14.5%, to 323,600 tons, ore – by 0.2%, to 164,900 tons. The port’s container throughput grew by 12.9%, to 174,585…
DetailsMogilev region and France are expected to make a focus on the development of economic and interregional cooperation. The intention was voiced at the meeting between France’s Ambassador to Belarus Didier Canesse and Mogilev region governor Vladimir Domanevsky. According to the diplomat, it is his first visit to Mogilev region to get familiar with the…
DetailsThe National Bank of Ukraine has allowed businesses to invest abroad up to $2 million in equivalent on the basis of one currency license for one calendar year, whereas up to now the total amount of such transactions was $50,000 for one calendar month. According to the regulator, relevant resolution No. 51 dated June 8…
DetailsCore inflation in Ukraine in May accelerated to 6.5% in annual terms – compared to May 2016 – against 6.3% in April from April 2016, according to Ukrainian State Statistics Service’s website. In May core inflation slowed to 0.3% compared to April against 0.6% in April from March, the State Statistics Service said. At the…
DetailsThe first direct flight of Hungarian low-cost airline Wizz Air from Budapest to Astana took off on June 8. The new service will operate twice a week on Thursdays and Sundays on Airbus A320. The launch of the new service is a landmark event, in particular, on the eve of the international specialized exhibition EXPO-2017,…
DetailsUkraine since the beginning of the 2016-2017 marketing year (MY, July-June) and as of June 8 has exported 41.667 million tons of grain. According to the Ministry of Agrarian Policy and Food, the country exported about 16.98 million tons of wheat, 5.26 million tons of barley, and 19.17 million tons of corn. In addition, 365,500…
DetailsCompared to May 2016, the average level of consumer prices increased by 2.8% in May 2017. Prices of goods grew by 2.6% and prices of services by 3.6%. Compared to May 2016, the greatest pressure on the price changes was put by the rise in prices of food and non-alcoholic beverages, goods and services related…
DetailsIn January-May the port of Ventspils handled 10.8 million tons of cargo, up by 20% YoY. According to the port authority, transshipment of Ro-Ro cargo grew by 24%, to 166,000 tons Ventspils Nafta handled 3.8 million tons (-5%), Kalija parks – 175,000 tons. The number of passenger carried by Ventspils-Nynashamn line grew by 33%, to…
DetailsUkraine boosted electricity exports by 46.3% YoY in January-May, to $109.75 million, according to the State Fiscal Service of Ukraine. Electricity sales to Hungary accounted for 67.4% of total revenue from exports, while the share of Poland was 17.5% and that of Moldova 12.7%. In May alone, Ukraine exported electricity to Hungary to the tune…
DetailsDushanbe bus terminal, Asian Express Terminal, is waiting for answer to its proposal to re-launch bus routes between Tajikistan and Uzbekistan. Deputy Director General of the Closed Joint Stock Company (CJSC) Holding Asia Group Tajikistan Sulton Kamolov says they have already discussed this issue with representatives of the Uzbek Embassy in Dushanbe. “They have expressed…
DetailsStandard & Poor’s (S&P) Global Ratings expects that Azerbaijan’s Kapital Bank OJSC will likely increase its already material market share, while its operating revenues continue increasing progressively and its profitability remains high, according to an S&P report. S&P confirmed the credit rating of the Azerbaijani bank at BB-/B level with a negative outlook. Meanwhile, the…
DetailsUkraine should reduce the share of nuclear fuel purchases from Russia to 45% in 2017, Ukrainian President Petro Poroshenko has said. “How much have we received (nuclear fuel from Russia) in 2016 – 55% already. How much did I set the task for minister Nasalyk in 2017. It’s 45% already,” he said during his visit…
DetailsUkraine shipped 3,271 tons of cheese to foreign markets in January-May, up by 22.7% YoY. The shipments increased by 48.5% in monetary terms, to $11.35 million, Ukraine’s State Fiscal Service said in its customs statistics reports. Cheese imports in the period under review totaled 3,563 tons, up by 35.8% YoY. The country imported products worth…
DetailsPresident of Turkmenistan Gurbanguly Berdymukhamedov, noting that the system of benefits in the country has become completely ineffective, instructed to prepare proposals for cancellation of all benefits. Berdymukhamedov was addressing a meeting with the leadership of the Turkmen banking and financial sectors. “Benefits should be provided not to anybody, but only to those who really…
DetailsIn the current year Ukrainian fat-and-oil producers managed to reverse the downward trend in the margarine market’s capacity. This product’s output shrank by 41% to the smallest level since 2003. The main reason for that substantial decline in Ukrainian margarine production is declining demand for this commodity, both from the domestic market and foreign consumers.…
DetailsNone of the coalition partners has any desire to overthrow the government. A solution to the tax reform and healthcare funding problem will be found, said Prime Minister Maris Kucinskis. “I gathered all coalition representatives. The good news is that none has any plans to topple the government and somehow stop the tax reform,” Kucinskis…
DetailsFreight volume handled in the Port of Liepaja in January-May climbed by 24.7% YoY, to 2,890,500 million tons, the Port Authority says. In the reporting period, transshipment of coal surged 6-fold, to 723,400 tons, wood pellets – 2.2-fold, to 150,700 tons, construction materials – by 7.8%, to 222,600 tons, oil products – by 65.6%, to…
DetailsThe Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) ratified a grant agreement for $280,000 signed between the government of Tajikistan and the Islamic Development Bank (IsDB) in January. Tajik Minister of Energy and Water Resources Usmonali Usmonzoda says the amount of this grant is allocated for improvement of work conditions for the ministry’s employees, elaboration…
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