Business news

Belarus expects to start new program with IMF in January-February
He noted that an IMF mission visited Belarus not long ago. The concept of a new expanded financing program was prepared...

WB forecasts GDP growth for Belarus in 2017
The report forecasts a 0.5% fall in GDP in 2016. In 2017 and 2018 it is projected to return to growth by 1% annually (the same growth rate was predicted by World Bank experts as they presented the economic review on Belarus in November 2015)...

BelAZ plans to open service center in India in February
“OAO BelAZ signed a trilateral agreement with the companies Belaz Enrika Mining Equipment and Services Private Limited and Voltas Ltd. (India) on long-term maintenance of BelAZ vehicles and guarantees on supplies of the Belarusian mining equipment"...

Belarus insists on zero exemptions in trade inside Eurasian Economic Union
"The Eurasian Economic Union Treaty came into force on 1 January 2015. Armenia and Kyrgyzstan joined the Union during the year. It was an honor for Belarus to be the first country to preside in governing bodies of the Eurasian Economic Union"...

Bellesbumprom’s export of wood boards to non-CIS countries up 6.7 times in January-November 2015
Growth in the export of wood particle boards came mainly on the heels of the increase in the shipments to Poland ($3.6 million), Lithuania ($476,300) and Germany ($392,400). In addition, Belarusian manufacturers launched export of wood particle boards to the Czech Republic, Turkey, Hungary, Latvia and other countries...

Belarusian Tehnolit to batch produce components for ship engines
Tehnolit will be able to make components for ship engines thanks to the company’s certification by the Russian River Register, which is a federal agency in charge of vessel classification. Now the Belarusian company will be able to fulfill serious orders from Russian shipbuilders and ship repairers as well as foreign ones...

Bellesbumprom branches out into seven new sales markets in 2015
“In 2015, the sales geography of the Belarusian wood processing industry enterprises included such countries as Vietnam, Pakistan, Macedonia, Croatia, Ireland, Bosnia and Herzegovina, and Cote d’Ivioire”...

Belarusian nuclear power plant’s education, training center opened in Ostrovets
According to the source, specialists, who will be employed to operate the control desk of the nuclear power plant in the future, started training sessions using the center’s full-scale simulator...

Argentina to start making Belarusian trucks in late 2016
The factory is supposed to be built on a land plot as large as 10ha in the city of Veinticinco de Mayo, 250km away from Buenos Aires. The memorandum of cooperation in starting the assembly project was signed in September 2015. Minsk Automobile Plant (MAZ trademark) and Argentinian investors will work together as part of the project...

Lukashenko signs law on budget for 2016
The key areas for development in 2016 will include the export growth and diversification, job creation, enhancement of the efficient use of state property...

Belorusneft to continue developing oil, gas extraction projects in Latin America
The expansion of the operation in Latin America is a strategic goal since the availability of raw materials in Belarus is limited. Belorusneft intends to expand its presence on the oil and gas industry markets of the countries where cooperation has already been established...

Belarus plans to raise $52m loan from China Eximbank to upgrade Orsha Linen Mill
Belarus is planning to raise a preferential consumer loan in the amount of $51,834,700 for 15 years from the Export-Import Bank (Eximbank) of China for the second phase of the project to upgrade Orsha Linen Mill in 2015-2017...

Belarus president welcomes private sector’s involvement in nationwide charity action
“We have so many businessmen and just rich people, who are willing to share their kindness and wealth. They bring gifts to foster homes, boarding schools, and residential care homes. They visit elderly people and sick ones. This is the way it should be done in a real state. Then we will be afraid of no crises"...

Belshina completes 2 investment projects worth over €70m
These projects aimed to launch the production of car tires with the rim diameter of up to 20 inches at the mass market tires plant and to carry out the renovation of the plant that makes large tires...

Belarus sets quotas for foreign transport operators for 2016
Traffic passes will be issued to 45 nations. The number of truck permits issued to Georgia in 2016 will be increased in comparison with 2015 from 800 to 2,000. Other countries will get more as well. Azerbaijan will get 800 permits (up from 700), Bulgaria will take 6,700 (up from 6,300), Iran will receive 650 instead of 400...

Belarus to reduce export duties on oil, oil products on 1 January
The export duty on crude oil will go down from $88.4 to $73.3 per tonne. The duty on straight-run gasoline will be reduced from $75.1 per tonne to $52 per tonne, with the export duty on commercial gasoline down from $68.9 to $44.7 per tonne...

Procedure to remove restrictions in Belarus-Ukraine trade agreed
"The removal of the import duty will lift the existing tariff barriers that impede the access of Belarusian goods to the Ukrainian market. It will also create prerequisites for exporting more Belarusian products to Ukraine"...

Belarus’ energy security concept approved
The document describes the global trends in the fuel and energy market development, threats and principles of ensuring energy security...

Chinese money for home construction in Brest Oblast
In 2016 work to find new markets for construction services, including outside the oblast and the country, will be continued. With this in mind work is already in progress to open representative offices of Brest Oblast civil engineering companies in the Russian Federation (Moscow, Kaliningrad, and Smolensk)...

MTBank named Belarus’ Bank of the Year 2015
“The decision to present the award to MTBank was made by an international panel of judges,” the press release reads. The bank got the title for the first time...