Business news

BelAZ export up 30.3% in 2018
The Belarusian automobile engineering company BelAZ exported $990.8 million worth of products in 2018, up 30.3% over 2017...

RAEX agency confirms Belarus’ NC rating at ‘B’ , FC rating at ‘B-’
"We kept the positive outlook on both ratings due to our expectations for economic growth and gradual resolution of the “bad loans” issue in the banking system"...

Belarus’ food producers explore 19 new sales markets
"In January-November 2018, Belarus shipped agricultural products and foodstuffs to 95 countries worldwide (to 86 destinations in January-November 2017). Milk and dairy products were exported to 58 countries, meat and meat products to 19 countries"...

Three Belarusian startups win Product Hunt’s Golden Kitty Awards
The Wannaby startup was named winner in the AR Product of the Year category. Their Wanna Nails application enables people to try-on nail polish in augmented reality...

Fitch affirms Belarus at 'B', stable outlook
Fitch welcomed the country’s clean debt repayment record and improving macroeconomic stability, which is largely attributed to the balanced macroeconomic policy...

Development Bank to finance Belarusian equipment export to Zimbabwe
The project will be implemented in association with the pan-African partner bank, the Eastern and Southern African Trade and Development Bank...

S Korea experts present plan of digital transformation of Belarus’ economy
The experts told their Belarusian counterparts about the digital transformation of South Korea’s manufacturing sector and gave interim recommendations regarding the adaptation of Korea’s practices to the Belarusian development model...

Belarusian-Russian business council’s proposals to be given further scrutiny
According to Alexander Moshensky, the business council will become a platform to discuss matters of concern to the business communities of the two states, including administrative barriers and joint promotion of business interests in third countries...

IMF offers recommendations to Belarus following Article IV Consultation
The press release reads that the cyclical recovery of the Belarusian economy continues, with growth in the first three quarters of 2018 reaching 3.7%...

Belarus' GDP up by 3% in 2018
According to the first assessment, the country's GDP in money terms totaled Br121.6 billion...

Cooperation with Belarus to give opportunities to develop Zimbabwe’s economy, export potential
Tighter cooperation with Belarus will enable additional conditions for the development of economy and the export potential of Zimbabwe, BelTA learned from Zimbabwean Minister of Lands, Agriculture, Water, Climate, and Rural Resettlement Perence Shiri...

First long-range oil product pipeline commissioned in Belarus
The total value of the investment project exceeds Br70 million...

Belarus’ first cryptocurrency exchange goes online
The project allows trading in and investing in conventional financial instruments using cryptocurrencies...

Belarus facilitates international leasing development
The development of international leasing has been regulated by Decree No. 16 “On development of international leasing” which was signed by Belarus President Alexander Lukashenko...

Belarus teams with World Bank to work out roadmap of structural reforms
If necessary, the working group will be able to rely on expertise of heads and specialists of central government agencies and other state organizations accountable to the government, and specialists of other organizations if their directors allow it...

Belarus, Hungary to make double-decker train cars
Peter Szijjarto said: “Within the framework of Belarusian-Hungarian manufacturing cooperation plans have been made to open a line to make railway cars. A total of 19 double-decker trains will be made. It will be done for the first time in history of Hungarian railways”...

Lukashenko suggests starting oil delivery to Belarus via Baltic countries
Alexander Lukashenko reminded about the plans to complete the modernization of two Belarusian oil processing enterprises this year. After that Belarus will be able to buy oil for further processing not only in Russia...

Belarus government told to explore tax maneuver compensation options in cooperation with Russia
Alexander Lukashenko remarked that the problem was supposed to have been resolved by 1 January but the failure to get it done is no catastrophe...

EBRD ready to finance Belarusian projects for IKEA suppliers
According to Alexander Pivovarsky, all kinds of suppliers are under consideration but primarily furniture industry. The interest of the company with a global reach in the Belarusian market can help a lot with the development of the private sector in Belarus...

EBRD invests over €360m in Belarusian economy in 2018
According to preliminary estimates, Belarus will be in the Top 10 of the most active countries out of 38 where the Bank carried out its operations in 2018...