Business news

Fitch affirms three Belarus banks at 'B-'/Stable
Fitch Ratings has affirmed Belarusbank's, Belinvestbank's and the Development Bank of the Republic of Belarus' (DBRB) Long-Term Issuer Default Ratings (IDRs) 'B-' with Stable Outlooks...

Sudan interested in Belarusian innovations in water treatment, mineral extraction
Chairman of the NASB Presidium Vladimir Gusakov announced that the NASB will prepare a list of concrete projects in the areas of particular interest for Sudan. A group of Belarusian scientists and experts will go to Sudan...

Belarus’ gold, forex reserves exceed $6.6bn
In July 2017, the country’s gold and foreign currency reserves went up by $103.8 million (up 1.6%) following the June growth by $1.322 billion (25.2%). The growth from the start of the year made up $1.737 billion (35.3%)...

Belarus plans to export $6bn worth of food products in 2017
“We should make it $6 billion in food exports,” said Mikhail Rusy. In his words, Belarus exports its fruit and vegetable products well, including to Russia. China is one of the promising markets for Belarusian products, he added...

Belarus-Iran cooperation prospects in mechanical engineering discussed
Chairman of the Council of the Republic of the National Assembly of Belarus Mikhail Myasnikovich met with Iran's President Hassan Rouhani to congratulate him on his re-election on behalf of the Belarusian head of state...

BelAZ to ship $3m worth of haul trucks to Mongolia
BelAZ was visited by a delegation of Molgolia’s Erdenet Mining Corporation. The visit resulted in a signing of an agreement on cooperation in maintenance and further supplies...

New container train from Europe to China passes through Bruzgi-Kuznica border checkpoint
“It is the first container train that has taken on a new route through the Bruzgi-Kuznica border checkpoint at the Belarusian-Polish. Belarusian Railways devotes great attention to the development of favorable conditions to attract additional traffic flows in the East-West-East direction. For expansion and optimal use of the existing capacities at the Belarusian-Polish border checkpoints Belarusian Railways organizes the passage of container trains through border checkpoints Bruzgi-Kuznica Bialostocka and Svisloch-Siemianowka,” the press center informed...

Lukashenko urges against seasonal price fluctuations for fruit, vegetables in Minsk
“Contracts should be signed to build up fruit and vegetable stocks for winter for the two-million-strong Minsk and its visitors. You will buy as much produce as you need to prevent seasonal price fluctuations,” Alexander Lukashenko stressed as he addressed Minsk Mayor Andrei Shorets...

China YTO to team up with Belarusian companies to produce spare parts for farming machinery
“The main line of business of our company is the production of agricultural equipment and spare parts for it. We opened our office in the China-Belarus industrial park Great Stone today. It is planned that we will be working in close cooperation with the Minsk Tractor Plant, Amkodor, Saleo and jointly produce spare parts for agricultural equipment on the territory of the industrial park. Every company will use its advantages. In the future we plan to sell our products to the CIS, Eastern Europe, Central Asia, including China,” said Zhao Yanshui...

China YTO to team up with Belarusian companies to produce spare parts for farming machinery
“The main line of business of our company is the production of agricultural equipment and spare parts for it. We opened our office in the China-Belarus industrial park Great Stone today. It is planned that we will be working in close cooperation with the Minsk Tractor Plant, Amkodor, Saleo and jointly produce spare parts for agricultural equipment on the territory of the industrial park. Every company will use its advantages. In the future we plan to sell our products to the CIS, Eastern Europe, Central Asia, including China,” said Zhao Yanshui...

Another resident company in Belarus-China industrial park
“We registered another three residents literally last week. One of them is a Belarusian investor working in big data processing. The second one is an American corporation producing lasers. It will start with manufacturing laser equipment. Laser technologies will then be applied in other fields, medicine, for example. Today the park another resident company registered in the park: China Electronics Technology Group Corporation (CETC). It is involved in data processing and artificial intelligence. As of 1 August, there are 16 resident companies in Great Stone,” Alexander Yaroshenko added...

Sulfate bleached pulp plant in Svetlogorsk to go online 7 November
“The plant is to be commissioned on 7 November,” Nikolai Snopkov said addressing Chairman of the Board of the China National Engineering Corporation Sinomach Ren Hongbin. This company is the general contractor for the construction of the Belarusian plant. “This is the most capital-intensive projects in the credit cooperation between Belarus and China,” Nikolai Snopkov noted...

Chinese corporation invited to build theme park in Belarus-China industrial park
“Belarus President Alexander Lukashenko puts great emphasis on mutual tourist exchange. This is important in terms of economy and even more important in terms of getting to know each other better. We are looking forward to CTS’ participation. I believe that the construction of a theme park in the Belarus-China industrial park will become an impressive project and an impressive place to attract tourists”...

PM: Belarus’ economic indicators keep improving
“Statistics indicate a persistent upward trend across the major economic development indicators. We have met six out of seven most important indicators of socio-economic development in the first half of 2017,” the prime minister said...

Stadler Minsk rolls out first batch of Metelitsa trams for St Petersburg
According to CEO of Stadler Minsk Philipp Brunner, the first batch of six Metelitsa trams (В85600М model) branded by the customer as Chizhik has been made for Transport Concessions Company in St. Petersburg...

Belarus, China consider setting up $0.5bn investment fund to attract residents to Great Stone park
The fund is designed to be as large as $585 million and can be further increased to $1 billion and more, if need be...

Belarus ready to develop different forms of cooperation with Chinese partners
“The State Property Committee of Belarus jointly with concerned government bodies compiled a pilot list of 22 Belarusian companies and one investment project that was handed over to Chinese colleagues for consideration and identification of areas of greatest interest to them. This list provides the basis for talks that we are ready to further develop for mutual benefit,” Vyacheslav Abramov noted.

Over 20 agreements signed at first Belarus-Tajikistan-Afghanistan business forum
Sergei Nebeshko, Deputy Chairman of the Belarusian Chamber of Commerce and Industry, had a working meeting with the management of the Afghanistan Chamber of Commerce and Industries. The parties agreed to sign a cooperation agreement in Minsk in August 2017...

Fitch revises outlook for Belarusian Bank BelVEB to Positive
Fitch Ratings revised the outlook on Bank BelVEB's Long-term Issuer Default Rating (IDR) to Positive and affirmed it at 'B-', BelTA learned from the bank’s press service...

Chinese investors interested in purchasing shares in several Belarusian companies
“We can already talk about preliminary results. For instance, talks are underway over cooperation mechanisms regarding Gomselmash. A draft decree of the head of state has been drawn up to convert Belgosproekt into an open joint stock company. The document envisages that Chinese investors will have shares in the company,” Andrei Gayev said...