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July 2018 www.intellinews.com I Page 20
With proceeds from the EU expected to drop after 2021, the government has focused on measures to improve competitiveness and attract high-value investments to keep economic growth above 4%, a key target.
It introduced a new R&D cash incentive under
its VIP cash grant system for large enterprises
in 2017 in order to promote the establishment of R&D centres and the expansion of already existing facilities.
Largest Kazakh mobile operator Kcell records 38.1% y/y surge in net profit
Kazakhstan's largest mobile operator Kcell, controlled by Sweden-based Telia, saw its net profit surge by 38.1% y/y to KZT6.37bn (€15.7mn) in the first half of 2018, the company said. At
the same time, the company’s earnings before interest, taxes, depreciation and amortisation (Ebitda) fell 5.3% to KZT25.38bn.
The rise likely came due to the low base a year ago. The economic slowdown and the sharp deprecia- tion of the tenge in 2015-2016 have damaged the financials of Kazakhstan's telecom companies. Some of that damage carried over into 2017. The firms use foreign currency to import equipment, but their earnings are in local currency.
Kcell is one of the four mobile operators active
in the Kazakhstan. The company is 51%-owned by Turkey's Fintur Holdings, while 24% belong to Sweden's TeliaSonera (through Sonera Holdings). The remaining 25% is listed on the Kazakhstan Stock Exchange (KASE).
Telia Sonera announced in September 2015 that it would gradually withdraw from Central Asian markets following a bribery scandal. State-owned telecom operator Kazakhtelecom agreed earlier this month to buy out the overall 75% stake in the company, which would grant it near monopolistic control over 67% of the mobile phone market in Kazakhstan.
IKEA wants to bring 20% of Russian sales online
Swedish furniture major IKEA plans to boost online sales in Russia from current 7% to 15-20% of sales in the coming 2-3 years, Vice President of the company's regional division Gerhard Peter Moritz told Tass on June 14.
"We believe that interest of Russians in modern technologies creates potential for raising the online turnover to over 15% in short-term perspective," he said.
IKEA launched online sales in Russia in 2013, starting with Siberia and launched online deliveries in Central Russia in 2017, which included Moscow and the Moscow region.
Macedonia drops 23 places in 2018 Global Innovation Index
Macedonia dropped 23 places to 84th among
the 126 countries on the 2018 Global Innovation Index, falling to last place among its peers in the Western Balkan.
According to the report, the main problem
of Macedonian companies is the use of old technology, while small innovative companies have not been helped by the authorities to introduce new technologies.
Albania ranks 83, one place ahead of Macedonia, but climbed 10 places compared to a year ago, the 11th edition of the Global Innovation Index showed.
Montenegro is a leader in terms of innovation in the region, taking the 52th place globally, but four positions lower than in the 2017 ranking. Serbia followed Montenegro in 55th position, an improvement of seven places.
Bosnia & Herzegovina was placed 77th, nine positions higher than in 2017.