Business news

Lukashenko: Much work is ahead to finish harvest and to be confident in the future
"The harvesting campaign of grain crops is nearing completion. Some 10% remains to be harvested"...

Great Stone industrial park joins international e-commerce agreement
The participants of the online conference discussed China’s digital trade, coronavirus-related risks for the global trade, a digitally friendly world and new trends in digital trade...

Number of furniture makers in Belarus doubles over past five years
"The introduction of new woodworking capacities in Belarus gave rise to new small and medium-sized businesses. Since 2015, when Bellesbumprom launched new wood panel factories, the number of furniture manufacturers has more than doubled in the country to make up some 1,300 companies today"...

Kamvol's development prospects discussed
The participants of the meeting focused on the implementation of the business development plan, production and shipping plans, and also export expansion...

New FEZ resident to build photo power plant near Brest
A company with Irish capital, Smart Sun, has been registered in FEZ as a new business entity. The company plans to build an 8 MW photovoltaic power station in the industrial zone area Airport...

Economy Ministry to work out proposals on improving import substitution effectiveness
"Import substitution is one of the priorities in the country’s development in the near future. The key question is by how much results of rational and effective import substitution have affected the country’s balance of payments, what their net effect is"...

Eurasian Development Bank expects revival of member states’ economies
According to the EDB analysts, the economic recession in Belarus slowed down significantly...

Belarusian Railways’ container transportation 1.5 times up in July
Belarusian Railways secured positive dynamics of container transportation in January-July 2020. The volume of container transportation increased by 1.3 times to 511,800 TEUs. The export of products of Belarusian companies in loaded containers increased by 1.2 times...

Round timber sales via Belarusian Universal Commodity Exchange 27% up in January-July
Pulp wood of coniferous species and timber without a designated use traditionally enjoyed the strongest demand among buyers. The two items accounted for over 80% of the total sales...

Holding company to unite Belarusian glass industry enterprises soon
The idea to set up the holding company was prompted by positive examples of mergers of enterprises in other industries...

Belagro 2020 postponed to 29 September - 4 October
The expo was supposed to take place on 2-6 June but was postponed due to the coronavirus pandemic to 1-5 September and then to 22-26 September. Now the dates have been moved for another week...

European Union’s share in merchandise export via BUCE past 80% in January-July
The top three buyers are Latvia, Lithuania, and Poland with the sum of the deals at $140 million...

Mozyr Oil Refinery starts exporting bitumen to Poland, UK
In July the company’s bitumen output rose by 30% to a record high of 83,000 tonnes. The result was achieved despite limited supplies of raw materials in Q1 2020...

Grodno Oblast’s merchandise export up by 15% in H1 2020
In H1 2020 Grodno Oblast met more than half of the key performance indicators and even beat the target regarding the merchandise export that came at $775 million, which was up by 15% year-on-year. The region had a surplus of $150 million. Grodno Oblast raised more than $89 million in foreign direct investment (well above the target of $55 million) in H1...

Naftan starts receiving second batch of U.S. oil
The entire batch will be delivered to Naftan during August...

Construction of connecting pipeline between Belarusian oil refineries to begin in October
The entire pipeline will be finished by 2023...

Cheaper electricity for real sector after Belarusian nuclear power plant launch
Viktor Karankevich reminded that the loading of nuclear fuel into the reactor of the first unit of the Belarusian nuclear power plant began on 7 August. The work will be finished on 13 August – all the 163 fuel rod arrays are supposed to be loaded then. “After that the reactor will be assembled, sealed, and will have to reach minimal output levels. Connection to the power grid and the generation of electricity for consumers in the country are scheduled for Q4 2020”...

Belarusian oil refineries intend to process at least 16-16.5m tonnes of oil in 2020
According to the source, at present the Belarusian oil refineries operate steadily, plans on deliveries till the end of the year are in place...

Miory Steel to debut at Belarusian commodity exchange in September
"Participants of the inaugural trading session will be able to purchase a total of 4,700 tonnes of cold-rolled coils at the initial price of €460 per tonne. Miory Steel offers the following terms of payment and delivery: full advance payment within 3 banking days from the invoice issue date and shipping under Ex Works (Miory). Several foreign traders registered on BUCE have already expressed interest in buying Miory Steel products"...

Belarus’ central bank expects annual inflation at 5-5.3% till year end
"A combination of lengthy disinflation factors, which effect is already manifested, will help keep prices stable later on"...