Kazakhstan and Uzbekistan refuse to work with Unistream system
Banks of Kazakhstan and Uzbekistan have suspended cooperation with the Unistream payment system, which fell under US sanctions. Earlier this was done by Georgian and Armenian banks.
finances
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Georgia increases foreign trade
Since the beginning of the year, Georgia has increased its foreign trade by more than 20% compared to last year's figures. The country's imports of goods amounted to $7 billion, while its exports was $3 billion.
Türkiye raises minimum wage again
For the second time in 6 months, Türkiye will increase the minimum wage. It will grow by 34% from July 1. This decision will increase the purchasing power of citizens.
Turkey to raise fee for int’l vessels transiting its straits
Türkiye has increased the transit fee it charges commercial ships to use the Istanbul and Çanakkale Straits, in accordance with the rights granted to it by the Montreux Convention, Turkish Transport and Infrastructure Minister …
Türkiye's ready-to-wear exports fall
The sales of Turkish ready-to-wear clothes reduced by 5% from January to May this year. Over the past 12 months, the country exported goods worth $20.7 billion.
Billions of manat to be spend on reconstruction in Karabakh and Zangazur
The state budget of Azerbaijan for 2023 will provide 5.2 billion manat ($3 billion) for expenses related to accelerating construction, restoration and reconstruction work in Azerbaijan’s Karabakh and Eastern Zangazur districts, …
Turkish government's main goals revealed
Türkiye's newly appointed economy chief Mehmet Şimşek said macro-financial stability would be the top priority, stressing "vital importance" to bring inflation down to single digits, increasing predictability and accelerating …
Iran plans large-scale sale of its military products
Tehran announced its readiness to sell its defense and military products. The Iranian Armed Forces plan to develop relations with other countries in various fields.
Emin Agalarov to invest in Dagestan tourism industry
Emin Agalarov is preparing the opening of an Azerbaijani cuisine restaurant in Derbent. The businessman plans to invest in the resort infrastructure in Dagestan in general.
License of one of Azerbaijani oldest banks revoked
The license of Azerbaijan's Gunay Bank OJSC has been revoked, according to the Central Bank of Azerbaijan. By the decision of the Board of Directors of Azerbaijan's Central Bank on May 16, 2023, the license of Gunay Bank …
Sberbank to place more ATMs in Crimea in time for tourist season
Sberbank plans to expand its ATM network in Crimea to 80 installations in May-June, head of the Sales Network blockTatyana Galkina said. Now, there are about 30 Sberbank ATMs in Crimea. "We plan to expand the network of …
Tatneft acquires Turkish filling station network
Tatneft has acquired a large network of filling stations in Türkiye
Russia testing digital ruble
Russia is getting ready to launch a digital ruble - the Bank of Russia plans to test it on a small number of real customers, after which it will be offered to a wide range of users, Russia's Central Bank Governor …
Russia extends restrictions on sending currency abroad
Russia's Central Bank extended restrictions on currency transfers abroad six additional months, through September 30, 2023, the regulator said. Therefore, Russian citizens and individuals who are residents from friendly countries …
Raiffeisen eyes Russia unit sale or spinoff
Raiffeisen Bank International (RBI) CEO Johann Strobl told the meeting the bank would pursue a possible sale or spin-off of its Russian business. According to him, it would continue to reduce activity in Russia while it …
Russia and Iran link their banking systems
The banking payment systems of Russia and Iran are already connected with each other, Iranian Minister of Economic Affairs and Finance Ehsan Khandouzi said. He noted that the banks will soon be able to open accounts for companies …
Georgia increases export of agricultural products
The Ministry of Agriculture of Georgia reported an increase in agricultural exports by 17% in the first months of this year, thus the country managed to export products worth almost $915 billion.
USA predicts Russia's rapid economic growth
According to the USA, the Russian economy will grow faster than the British economy or German. Anti-Russian sanctions have done much more damage to the West, this is their greatest miscalculation.
Tinkoff suspends money transfers to Turkey
Russia’s Tinkoff Bank announced it has stopped money transfers to Turkey amid the Western sanctions. "Regrettably, we cannot transfer money to this country. Due to the sanctions, …
Sberbank's Kazakh ex-subsidiary to service not all Mir cards
Kazakhstan's Bereke Bank, which is a former subsidiary of Sberbank, bought out by the national holding Baiterek, continues to service Mir cards issued by non-sanctioned Russian banks, the bank’s press service said. In March, …
