Ukraine: only 10% of targeted international aid for road repair used

The World Bank is ready to provide some $1 billion for Ukrainian roads repair, the European Bank for Reconstruction and Development (EBRD) could provide some $700 million, while no more than 10% of the targeted international assistance is used for these purposes in the country, Ukrainian Infrastructure Minister Volodymyr Omelyan has said

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Uzbekistan: Uzpromstroybank issues loans worth 571.2 billion soums

Uzpromstroybank (Uzbek Industrial and Construction Bank) has issued a loan for 571.2 billion soums to small businesses and private entrepreneurships in the first half of 2016

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Uzbekistan: reconstruction of Nukus station to be completed soon

Uzbekistan Temir Yollari is completing works on reconstruction of Nukus railway station, the company said in a statement. The company said that painters and craftsmen were completing constructions works at the station

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Belarus: railway cargo transportation between Belarus and Kaliningrad Oblast up in H1 2016

Railway cargo transportation between Belarus and Russia’s Kaliningrad Oblast went up 7.4% over the same period of 2015 to 4.47 million tons, the press service of Belarusian Railways reported

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Kazakhstan: Nexia R3 presented

GM Uzbekistan presented an automobile Nexia R3 under the brand of Ravon in Kazakhstan. It is worth to mentioning that Nexia R3 is a modified Chevrolet Aveo of the second generation (T250)

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Belarus: output of woodworking enterprises up in Q2 2016

In Q2 2016 Belarusian state-run woodworking enterprises increased their output by 70% in comparison with Q1 2016. Chairman of the Board of the Development Bank of the Republic of Belarus (DBRB) Sergei Rumas made the statement after delivering his report to the head of state on July 18

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Uzbekistan: over 300 state assets sold to private sector

Uzbekistan sold some 305 state assets valued at 116 billion soums and $1.1 million to private sector in the first half of 2016. The investors also undertook obligation to invest 267

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Uzbekistan: $2 billion worth of contracts signed at Fruit and Vegetable Fair

Uzbekistan signed about 270 agreement to export fruit and vegetables valued at over $2 billion during the First International Fruit and Vegetable Fair, held in Tashkent from 12 to 16 July

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Belarus: number of business incubators to double

The number of business incubators will be doubled in Belarus by late 2020, Belarusian Deputy Economy Minister Irina Kostevich said. “We now intend to raise the number of business incubators two times by the end of the five-year term

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Ukraine: Turkey to build subway in Dnipro

Turkey has agreed on a contract for building subway in the city of Dnipro, City Mayor Borys Filatov has said. “Turkish colleagues have brought an agreed contract for subway construction”, Filatov wrote on his Facebook page

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Kyrgyzstan: Toktogul water reservoirs up

Toktogul water reservoir has currently accumulated 15 billion cubic meters of water, which is 4 billion more than in 2015. This was announced today at a meeting of the Republican head office on preparation for the heating season

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Tajikistan: aluminum exports up

Tajikistan has reportedly increased primary aluminum exports. The head of the Customs Service under the Government of Tajikistan, Abdufattoh Ghoib, noted that Tajikistan had exported about 73,500 tons of primary aluminum over the first six months of this year, an increase of 20% YoY

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Ukraine: UIA introduced Business Smart fares

Ukraine International Airlines introduce Business Smart fares and offer early bookers, departing from the cities of Ukraine, to purchase Business Class tickets at attractive prices

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Kyrgyzstan: Mailuu-Suu electric-bulb plant’s staff against its sale to China

The staff of Mailu-Suu electric-bulb plant is against the sale of the company to the Chinese side. The plant is included in the list of objects of the Kyrgyz Ministry of Economy, which will be offered to China for the transfer of production capacity

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Kyrgyzstan: budget receives over 13 billion in customs duties in H1 2016

During the first half of the year, the State Customs Service has provided the receipt of 13.74.8 billion soms (104.3% to the forecast figures) in customs duties

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Kyrgyzstan: Kochkor-Ata Mayor’s Office to spend over 14 million soms on road repair

Kochkor-Ata Mayor’s Office intends to spend over 14 million soms on repair of three roads. Mayor’s Office budget will provide 1, 756

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Kazakhstan to launch new flights to Mongolia

Kazakhstan and Mongolia may launch new flights, PM Karim Massimov said. At the government’s meeting the PM tasked the Ministry of Investments and Development to consider the issue of launching Bayan-Olgii-Almaty and Bayan-Olgii-Ust-Kamenogorsk routes

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Kyrgyzstan: IMF cuts forecast for economic growth to 2.2%

The International Monetary Fund cut its forecast for growth of the Kyrgyz economy in 2016 to 2.2%. After a difficult start of the year, the pressures on the economy of Kyrgyzstan are beginning to moderate, helped by a stabilizing regional context

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Azerbaijan: IBA among world’s 1,000 largest banks

British magazine “The Banker” included the International Bank of Azerbaijan (IBA) in the TOP-1000 of the most powerful and financially sustainable banks in the world

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Kyrgyzstan: Eurasian Development Bank predicts 1.5% slowdown in economy

The Eurasian Development Bank predicts 1.5% slowdown in the Kyrgyz economy. Tight monetary conditions may restrain economic growth in the Kyrgyz Republic

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Uzbekistan: Chinese company to create food hub

Xinjiang Silu Changlong Investment Co., Ltd (China) is planning to create a food transport-logistic center in Bukhara region of Uzbekistan. Currently, the Chinese company is developing the project in cooperation with the Ministry of Economy of Uzbekistan

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Uzbekistan: CBU keeps refinancing rate at 9% APR

The Board of the Central Bank of Uzbekistan kept the refinancing rate at the level of 9% APR. The regulator said that the Board of the Central Bank adopted the decision on keeping the refinancing rate at 9% APR

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Belarus: laser technologies for ICRANet studies

Belarusian laser technologies will be used for research projects of the International Center for Relativistic Astrophysics Network (ICRANet), Deputy Chairman of the Presidium of the National Academy of Sciences of Belarus (NASB) Sergei Kilin said

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Belarus: companies urged to advance cooperation with Chinese partners

Belarusian companies should step up efforts to advance cooperation with Chinese partners, Ambassador Extraordinary and Plenipotentiary of Belarus to China Kirill Rudy said

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Kyrgyzstan: basic foods price up

Basic foods grew in price in Kyrgyzstan, the Ministry of Economy reported. Bread has risen in price by 0.19 soms (1.05%), rice – by 1.77 soms (2

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Germany: ATB Financial sends one of the world’s first real-time payments using blockchain technology supported by SAP

ATB Financial, the largest Alberta-based financial institution, has collaborated with SAP SE, financial technology start-up Ripple Labs Inc. and ReiseBank AG in Germany to send the first real international blockchain payment from Canada to Germany

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Azerbaijan: assets of State Oil Fund up

Assets of the State Oil Fund of Azerbaijan (SOFAZ) increased by 4.6% and amounted to $35.1 billion as of July 1, as compared to $33.57 billion in early 2016, SOFAZ said in a report

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Uzbekistan: aggregate capital of banks exceeds 8.5 trillion soums

Aggregate capital of the banks of Uzbekistan reached 8.6 trillion soums as of July 1, up by 23.3% YoY. This was announced at the expanded session of the Board of the Central Bank dedicated to the results of the activities of the banking system in the first half of 2016

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Belarus: agreement on EEU gas and oil forecast balances approved

The Council of Ministers has approved an agreement on the formation of indicative (forecast) balances of gas, oil and oil products in the Eurasian Economic Union which was signed in Moscow on April 22

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Ukraine: coal stocks at TPPs down in June 2016

Coal stocks in the warehouses of thermal power plants (TPP) of Ukraine in June decreased by 34.5% and as of July 1, stood at 1.6 million tons, the Ministry of Energy and Coal Industry said

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