The consolidated index of production of goods and services in Ukraine in January-June rose by 2.2%, GDP growth is estimated at 2.5% plus or minus 0.3%, according to data released by the Ministry of Economic Development and Trade. The ministry said the increased consumer and investment demand amidst the improved business and consumer sentiment, as…
DetailsUkrainian nuclear power plants (NPPs) produced 210.36 million kWh of electricity on July 25, the press-service of Ukraine’s State Enterprise “National Nuclear Energy Generating Company Energoatom” reports. On July 26, 11 out of 15 power units were functioning at the Ukrainian power plants. It was the 161st day of the average planned repair at power…
DetailsThe pace of sunseed crushing slowed down to some extent in June against the previous month. Consequently, sunoil production by large and medium-sized crushers amounted to 451.4 KMT in June 2016-2017 against 491.2 KMT a month earlier. Monthly output still remains at a record level. In total, Ukraine’s large and medium-sized crushers produced as much…
DetailsLatvian Association of Regions proposes establishing micro-enterprise tax rate at 12% instead of 15%, as well as state that calendar year turnover for micro-enterprises is not to be reduced to EUR 40,000, as it is proposed by the government, but to be kept at the current restriction – under EUR 100,000. Of the 28 proposals…
DetailsThe National Association for Tobacco Product Manufacturers (TIRNA) is confused about Finance Ministry’s submitted proposals for tax reform that provide for raising excise tax on cigarettes by 11% instead of previously planned 5.5%. TIRNA believes the submitted proposals are rushed, economically unjustified and will not secure the economy any major tax income. “Exactly the opposite…
DetailsAccording to Q1 results, the amount of services in the real estate segment has reached KZT 188.48 billion, up by 14.6% YoY. Real estate services are most popular in Almaty City (38.8% of all Kazakhstan, KZT 73.16 billion, +24.3%) and the capital Astana (21%, KZT 39.59 billion, +24.9%). The greatest increase in demand for services…
DetailsS&P Global Ratings affirmed its “B-/B” long- and short-term counterparty credit ratings on Turon Bank, the rating agency said in a message. The outlook remains stable. The affirmation follows Turon Bank’s removal in June by the Uzbek government from a list of entities to be privatized. As such, S&P thinks that strategic uncertainty related to…
DetailsFirst Ukrainian International Bank (FUIB) has become the first bank in Ukraine to issue an e-license. As of today, FUIB has issued 5 out of 11 e-licenses in Ukraine and is the leader in providing this service in Ukraine. On July 3, the National Bank started issuing personal licenses to individuals in electronic form through…
DetailsThe hryvnia exchange rate may drop to UAH 28.5 per US dollar by the end of 2017, Oleh Ustenko, Executive Director of The Bleyzer Foundation, stated at a press conference on July 25. “We admit that at best, the exchange rate should be maintained at UAH 28.5 per US dollar by the end of the…
DetailsPresidents of Turkmenistan and Kyrgyzstan, Gurbanguly Berdimuhamedov and Almazbek Atambayev, during a phone conversation confirmed the existence of great potential for enhancing relations on a wide range of areas. In this regard, the sides noted the expediency of joint work on the issues of expanding the range of mutually supplied goods and services, creating conditions…
DetailsThe Ukroboronprom State Concern expects that tests will be conducted and the Ukrainian Navy will accept a radiosonic system created at the enterprises of the concern and used during the Sea Breeze 2017 multinational military drills in Odessa on July 10-22 with 16 countries taking part. The press service of the concern reported that the…
DetailsIn January-June the production volumes of crude sunflower oil in Ukraine totaled 2.87 million tons, up by 34.9% YoY, the State Statistics Service of Ukraine reported. In particular, in June Ukraine produced 451 thousand tons of sunflower oil, down by 8.1% MoM, but up by 45.2% YoY. Also, in January-June Ukrainian flour milling enterprises produced…
DetailsFinance Ministry has plans to raise excise tax on alcoholic beverages and cigarettes even more rapidly, according to proposals prepared by the ministry to the Excise Tax Law. These proposals have been submitted to the Saeima for approval in the final reading. FM explains that it is necessary because there are plans to apply greater…
DetailsIn January-June Ukraine exported 8,400 tons of potatoes worth $300,000, 95% of which was purchased by Belarus, the Ukrainian Agrarian Conference reported with a reference to the State Fiscal Service of Ukraine. “Belarus purchased 95% of Ukrainian potatoes indented for export, Moldova – another 2.6%,” reads a report. In January-June Ukraine exported 68% more potatoes…
DetailsPresident of Georgia Giorgi Margvelashvili sent a letter to his Turkmen counterpart Gurbanguly Berdimuhamedov on the occasion of the 25th anniversary of establishing diplomatic relations between the two countries, the Turkmen government said in a message. In his letter, Margvelashvili expressed readiness to deepen and expand mutually beneficial partnership with Turkmenistan. The Georgian president pointed…
DetailsAround 350 proposals have been received by the Latvian parliament in relation to tax reform laws. Last week, the Saeima supported tax reform laws in the first reading. This week, on the other hand, it is planned to review them in the final reading. Janis Vucans, head of Saeima’s Budget and Finance Committee, had previously…
DetailsUkrainian air carriers increased passenger transportation by 40% YoY in January-June, to 4.6 million people, according to the State Statistics Service. Passenger turnover for the period under review soared by 45.8%, to 8.9 million passengers/km, the report said. Air freight for the first 6 months of 2017 fell by 8.9%, to 4,000 tons, while cargo…
DetailsAzerbaijan’s President Ilham Aliyev has signed an order to provide funding for the construction of Zire-Turkan highway.
Under the presidential order, 3 million manats is allocated from the Presidential Contingency Fund for the construction of the highway, which connects two residential areas with the total population of 24,000 people. (Trend/Business World Magazine)
PrivatBank in January-March saw its net profit rise 3.52-fold, to UAH 744 million, the bank said in the information disclosure system of the National Commission on Securities and the Stock Market. Its net interest income increased by 22%, to UAH 959 million. After sending UAH 2.337 billion to the reserves for bad loans, the bank’s…
DetailsPJSC Agrarian Fund is planning to launch production of buckwheat and corn flours, the company’s board chairman Andriy Radchenko said. “My task consists in ensuring profitability of the company. Products with added value are more profitable than raw materials. Therefore we constantly expand this area. The range was widened consistently: first we launched production of…
Details5,735 new Toyota cars were sold in Baltic States in the first six months of 2017, up by 33% YoY. Toyota’s total market share in Baltics is 14.2%. Toyota sales in Latvia have grown by 25%. 1,264 new Toyota cars have been sold in Latvia since the beginning of the year. More than half of…
DetailsPrices of dairy products in Latvia will either remain on the current level or increase even more in the next couple of months. With that, there is no reason to expect price decline in the near future, predicts head of Agriculture Market Promotion Centre Inguna Gulbe. It was reported at the beginning of July that,…
DetailsNatural gas reserves in Ukrainian underground storage facilities (USFs) on July 15-22 increased by 2.9%, orby 355 million cubic meters, from 12.320 billion cubic meters to 12.675 billion cubic meters, according to the state-run gas transport system operator, Ukrtransgaz. The daily volume of gas injection into the USFs stood at about 58.7 million cubic meters,…
DetailsEnergy-rich Turkmenistan invites foreign investors to participate in the development of the gas and chemical industry. The country plans to build several large gas chemical complexes, a source in the fuel and energy complex of the country said. These large complexes will focus on the production of polyethylene, polypropylene, polyvinyl chloride, monoethylene glycol, dimethyl ether…
DetailsMore than half of Latvian employers pay their employees wages below the minimal monthly amount, said Director of the State Revenue Service Tax Control Office Sandra Karklina Admine on July 24. She says SRS puts a lot of effort into combating grey economy. Combating envelope wages will be one of this year’s main priorities, she…
DetailsThe Belarusian nuclear power plant will be fully commissioned in the summer of 2020, Rosatom Director General Aleksei Likhachev said during a meeting with Belarus President Alexander Lukashenko on July 24. “We worked all the day at the plant and discussed the state of affairs. We are ready to make an extensive report,” Aleksei Likhachev…
DetailsEnergy remains the basis of cooperation between Sophia and Baku, Azerbaijani ambassador to Bulgaria Nargiz Gurbanova said. “Azerbaijan regards Bulgaria not only as a country consuming Azerbaijani gas, but also as a transit country in the European area,” she said. The diplomat also stressed that Bulgaria fully supported the Southern Gas Corridor project, which envisaged…
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