Business news

Belarusian Potash Company to supply 800,000t of potash fertilizers to India at $247 per tonne
"Belarusian Potash Company and IPL understand the importance of such a contract for both the Indian and international potash markets. This is why they reached the agreement that will contribute to the stability of the global potash market and potentially higher prices in the future"...

Belarus to raise tariff on transit of Russian oil by over 6% as from 1 February
In August 2020, Gomeltransneft Druzhba proposed an unscheduled revision of the tariff, but the Russian party did not support that idea. After that, the Belarusian company suggested raising the tariff on oil transit by 24.5% in 2021 to compensate for its losses in 2020...

Lukashenko shown educational innovations at BSU
The head of state was briefed on the state and development prospects of the university. BSU Rector Andrei Korol said that the university is represented in 12 global and seven subject world rankings, including the Big Three QS-317, THE-1001+ and the Shanghai Physics subject ranking - 201-300. BSU's digital library has the status of Europe’s top and world’s third in the Transparent Ranking of Repositories...

Belarusian steel mill BMZ increases export to 13 European Union countries
Shipments to Spain, Slovenia and France doubled or more. Deliveries to Austria, Ireland, Romania, Poland and Finland went up by more than 30%...

Belarus to increase oil export duties on 1 February
In line with the document the size of the export duty on crude oil, furnace oil, oil bitumen, and used oil products will be $43.8 per tonne ($38.7 previously)...

Belarus sets up national pavilion at Expo 2020 in Dubai
The next stage of the construction includes designing the sections of the pavilion, arranging exhibits, and installing equipment and other elements...

Belarus, Brazil discuss cooperation in geological exploration, ore mining
The participants of the conference discussed interregional reactions and prospects for cooperation between Belarus and Brazil in geological exploration and the ore mining industry...

Russian government okays draft agreement on transshipment of Belarus' cargoes via Russian ports
According to the draft agreement, the volume of transshipment can amount to 2-3.5 million tonnes per year. The agreement is expected to remain in force until the end of December 2023...

Sawn timer worth $2.4 m sold to China at Belarusian commodity exchange
Special exchange trades sell timber products with delivery to the final consumer in China. At the same time, the buyer can choose the most convenient basis of delivery. For example, at the last trading session, all the volume of sawn products put up on sale was purchased with delivery to Qingdao, the largest seaport in Shandong Province...

Belarus, Russia to sign agreement to redirect Belarusian transit freight to Russian ports
“This task was set forth by the president in connection with the known approaches of the Baltic countries and their unfriendly position towards Belarus. Therefore, we are working on this task and are planning to sign an intergovernmental agreement soon. We expect the economic conditions in Russian ports for our traders and forwarders at least not worse than we had in the Baltic ports"...

Belarus expects Union State to outpace EAEU in creating common energy markets
“For Belarus, this does not mean any special prices. We believe that since we have decided to build a single economic space, we should aim for a level playing field for business and equal prices, most importantly, tariffs for the transportation of energy resources"...

Belarusian nuclear power plant’s safe operation fund, decommissioning fund established
The decree provides for setting up a fund that will finance the decommissioning of the nuclear power plant and a fund to finance efforts meant to maintain and enhance the safety of the nuclear power plant. The establishment of such funds is an international practice...

Belarus, Russia develop new scientific programs in 3D printing, space, fundamental research
"Soon we will meet to discuss the Union State programs. We will also look into optimization, ways to reduce the time of development and coordination of such programs. So far, it takes about two years to prepare the concept and to draft the program"...

Belarusian State University to launch second nanosatellite in 2021
Despite its small size the new nanosatellite will contain all the necessary instruments. In particular, it will be fitted with systems that can take radio occultation measurements of the atmosphere and can study magnetic anomalies...

New Grodno Azot director talks about work priorities
Among the key tasks Igor Lyashenko mentioned the construction of a new nitrogen complex, which, in his words, is not only of global importance for the Belarusian state petrochemical concern Belneftekhim but will have a tangible effect on the entire country...

Belarus to set up food and craft cluster
We will implement this project during 2021. Its participants will have the opportunity to sell their goods at various sites, large fairs. We hope to find like-minded people who can work together on the Navacolle brand and promote the products of their region,” said Valeriya Klitsunova...

Plans to increase Belarusian exports to China
In his speech on the opportunities to advance the Belarusian-Chinese trade and economic cooperation within the framework of China’s dual-cycle economic model, Andrei Andreyev highlighted the importance of new cooperation prospects...

Mozyr Oil Refinery gets $14m as first tranche of Russian compensation for polluted oil
The total compensation is supposed to be close to $60 million...

China-Belarus industrial park, Minsk airport sign cooperation memorandum
The sides will work together on initiatives designed to connect transportation by air with transportation by rail and by road in the industrial park’s logistic zone...

Five tractor models by Belarusian MTZ get EU certification
Those are MTZ-952.7, 923.7, 1025.7, 1220.7, and 1221.7 tractors with Caterpillar engines...