Business news

Belarus starts importing oil from United States
"We consider cooperation with the United States in the oil sector to be a core element of energy security of the state, to be a crucial part of trade and investment engagement between the parties that has a significant potential, and a factor consolidating economic sovereignty of our country"...

Belneftekhim: Volume of Rosneft oil supplies to Belarus will be specified monthly
"In fact, they formalize the possibilities of Belarusian refineries in terms of orders and Russian companies in terms of supplies"...

Russia’s Rosneft to deliver 9m tonnes of oil to Belarus
Work on the contracts with Rosneft resumed in April after a hiatus in the supplies from major oil companies from 1 January...

Lukashenko hails positive changes in economic management in Vitebsk Oblast
"If you prepare for harvesting properly and do your best, you will have grain and fodder. Everything should be well-organized. You should not relax"...

Belarus hopes to attract EBRD loan to finance energy infrastructure construction in FEZ Minsk
As it has been reported, the European Bank for Reconstruction and Development will earmark €259 million for the reconstruction of 12 bridges and the M3 Highway in Belarus...

PM: Belarus would like to join forces with EBRD to tackle negative impacts of pandemic
The government sees the need to expand the channels of support for the real economy sector through the country's financial institutions...

Belarus, Uzbekistan step up cooperation in electronic procurement
On 14 May BUTB held the first webinar on public procurement in Belarus for specialists of the Uzbek Commodity Exchange (UZEX)...

Rumas: Belarus will honor its financial commitments fully in 2020
At the same time, these loans will be restructured in view of the current situation in the world...

Belneftekhim: Belarus will continue to seek $84m compensation from Orlen Lietuva
The dispute concerns technological oil, which Orlen Lietuva pumped out of the inactive Lithuanian section of the Druzhba pipeline...

Belarus foreign ministry optimistic about export prospects in 2020
"The situation with other commodities is not bad. The export rose by 3.5% in Q1 though the target was 3.2%"...

PM sees ways to agree with Russia on fair gas price for Belarus
"We can cite figures to prove that the price of $127 makes Gazprom’s supplies to the Belarusian market more profitable than its supplies to non-CIS states"...

Lukashenko approves National Bank’s report 2019
The NBRB achieved the main objective of the monetary policy, which was to curb inflation that stood at 4.7% (the target was to keep inflation below 5%)...

Belarus, IMF continue negotiations on rapid financing
"They are estimating the current situation in Belarus. We are comparing our forecasts"...

Annual inflation rate for Belarus projected at 5-6% in 2020
The National Bank attributes the acceleration of inflation in Q1 to the adverse effects of external factors...

Belarus’ central bank to reduce refinancing rate to 8% on 20 May
The refinancing rate was last reduced in Belarus on 19 February. Then the rate was cut from 9% to 8.75% per annum...

New resident of Great Stone Park to produce devices for woodworking industry
The new resident plans to set up a center to make production lines for the woodworking industry based on the industry 4.0 principles...

New measure to support Belarusian companies amid global epidemiological situation
The decree was adopted to prevent a sharp deterioration in the financial performance of business entities...

Raiffeisen Leasing Belarus purchases 5,000 COVID-19 antibody test kits from China
These are high-precision COVID-19 antibody tests. Raiffeisen Leasing Belarus noted that such tests are performed to quickly diagnose patients who have contracted the virus or who have already recovered...

Groundbreaking ceremony for Sinomach’s park in Great Stone in Belarus
The park will implement four R&D and design projects in optical technologies, mechanics, electronics and new materials...

PM: Situation in Belarus’ economy manageable in Q1 despite external shocks
"In the first quarter, the economy was affected by a number of foreign economic shocks. The tax maneuver and the absence of oil supplies agreements with Russia significantly complicated the work of the petrochemical and transport industries"...