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Stories related to finance and economics.
Uzbekistan foreign trade turnover up nearly 20%, Turkmenistan gains
patrickn97
Fri, 02/03/2023 - 13:14
Ukrainian authorities raid tycoon's home amid corruption crackdown
Uzbekistan's foreign trade turnover as a whole exceeded $50bn in 2022, an increase of 18.6% or $7.8bn compared to 2021.
Russia remains Uzbekistan's largest foreign trading partner, constituting $9.2bn - or just under 20% - of Uzbekistan's foreign trade in 2022.
Neighbours Turkmenistan, who for many years have been one of the most economically isolated countries in the world, has also seen its trade with Uzbekistan increase.
Ukrainian authorities have raided the home of the prominent business tycoon Ihor Kolomoisky amid a nationwide anti-corruption crackdown. On Wednesday (1 February) the home of the former interior minister Arsen Avakov was also searched, and the Ukrainian Cabinet of Ministers fired the heads of the customs and tax agencies too.
Kolomoisky is an erstwhile ally of President Volodymyr Zelensky, whose TV channel gave Zelensky his break with the comedy series Servant of the People, in which Zelensky played a history teacher who ends up becoming president after a student posts a video online of an expletive-laden rant by Zelensky's character about the state of politics in the country. Kolomoisky also backed the former actor's real-life bid for the presidency.
He was also the governor of the wider Dnipropetrovsk region from 2014 to 2015, and played a key role in funding volunteer battalions in response to Russia's initial invasion of Ukraine in 2014.
patrickn97
Wed, 02/01/2023 - 17:21
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Uzbekistan foreign trade turnover up nearly 20%, Turkmenistan gains
patrickn97
Fri, 02/03/2023 - 13:14
Uzbekistan's foreign trade turnover as a whole exceeded $50bn in 2022, an increase of 18.6% or $7.8bn compared to 2021.
Russia remains Uzbekistan's largest foreign trading partner, constituting $9.2bn - or just under 20% - of Uzbekistan's foreign trade in 2022.
Neighbours Turkmenistan, who for many years have been one of the most economically isolated countries in the world, has also seen its trade with Uzbekistan increase.
Ukrainian authorities raid tycoon's home amid corruption crackdown
Ukrainian authorities have raided the home of the prominent business tycoon Ihor Kolomoisky amid a nationwide anti-corruption crackdown. On Wednesday (1 February) the home of the former interior minister Arsen Avakov was also searched, and the Ukrainian Cabinet of Ministers fired the heads of the customs and tax agencies too.
Kolomoisky is an erstwhile ally of President Volodymyr Zelensky, whose TV channel gave Zelensky his break with the comedy series Servant of the People, in which Zelensky played a history teacher who ends up becoming president after a student posts a video online of an expletive-laden rant by Zelensky's character about the state of politics in the country. Kolomoisky also backed the former actor's real-life bid for the presidency.
He was also the governor of the wider Dnipropetrovsk region from 2014 to 2015, and played a key role in funding volunteer battalions in response to Russia's initial invasion of Ukraine in 2014.
patrickn97
Wed, 02/01/2023 - 17:21
EU and Uzbekistan officials meet to discuss ties, promise to expand cooperation
The Uzbek Minister of Investments, Industry and Trade Laziz Qudratov hosted the head of the delegation of the EU in Uzbekistan Charlotte Adriaen on Monday (30 January) to discuss ways to advance bilateral ties in trade, economic and investment spheres.
The parties explored the opportunities for expanding the main areas of bilateral financial and technical cooperation, and discussed the EU's Multi-Annual Indicative Programme for Uzbekistan (MIP), the implementation of which has been allocated €76m for the period 2021-2024. Additional funds for the same time frame were also earmarked for Human Rights support (€3.6m), and Civil Society Organisation (€3.4m).
The MIP 2021-2027 has three main priorities, namely effective governance and digital transformation; inclusive, digital and green growth, and the development of a smart eco-friendly agri-food sector.
patrickn97
Wed, 02/01/2023 - 12:14
Georgian GDP booms by more than 10% in 2022
Georgia's GDP boomed by 10.1% in 2022, according to figures released by the National Statistics Office of Georgia, Geostat, on Tuesday (31 January).
The country's economic performance was particularly strong towards the end of the year, registering a year-on-year increase of 11% in December 2022.
According to the report published by Geostat, growth was registered in construction, manufacturing, transportation and storage, financial and insurance activities, trade, hotels and restaurants. Meanwhile a decline was registered in real estate activities, professional, scientific and technical activities, electricity, gas, steam and air conditioning supply.
Georgia imported US$134.5bn of goods in 2022, 33.2% more than last year. Meanwhile exports also rose by 31.8%, totalling almost US$56bn.
Another notable statistic from the report concerns the number of newly registered enterprises, at 6,436 in December alone. This marks a year-on-year increase of 41.4%.
patrickn97
Tue, 01/31/2023 - 10:33
Russia postpones the construction of new roads due to lack of money
patrickn97
Tue, 01/24/2023 - 13:30
The Russian parliament has postponed the construction of some key roads in the country due to a lack of money, reported Kommersant on Monday (23 January).
After reviewing the "Highway Operations Plan for 2023-2027", Kommersant found that a number of key road construction projects have been postponed, some to as late as 2027. Many road-building projects that were supposed to commence construction in the coming years have now only had money allocated for their design and planning.
Kazakhstan to withdraw from currency agreement with Russia
patrickn97
Tue, 01/10/2023 - 13:56
The government of Kazakhstan has announced that it intends to withdraw from a 1995 agreement on measures to ensure the mutual convertiblity and stabilisation of exchange rates of the Russian ruble and Kazakh tenge.
Kazakh aviation sees increased passenger numbers and more international destinations in 2022
patrickn97
Fri, 01/06/2023 - 19:02
Kazakhstan saw a steady increase in both domestic and international air travel in 2022.
Dubai scraps 30% alcohol tax and fees for personal alcohol licences
patrickn97
Mon, 01/02/2023 - 10:33
The UAE emirate of Dubai has announced that it has scrapped the 30% tax on alcohol, and will no longer charge for personal alcohol licences.
Known as the Gulf's "party capital", where expatriates outnumber nationals by nine to one, Dubai has historically been more attractive to tourists and wealthy foreign workers than its neighbours, partially because of its tolerance of a more liberal lifestyle.
Despite this, the high alcohol tax had led to residents often driving to Umm al-Quwain and other emirates to buy alcohol in bulk.
A quarter of Georgia's youth do not work or study - PMC Research Center
patrickn97
Tue, 12/06/2022 - 21:46
Last week on 29 November, the PMC Research Center published a study revealing that a quarter of all Georgians aged 15-24 do not work or study. Such people are also known as NEET: ‘not engaged in education, employment, or training’.