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The Regions This Week
June 7, 2019 www.intellinews.com I Page 6
Eastern Europe
Novatek, Russia's second-largest natural gas producer, will form a joint venture with Chinese Sinopec to sell and LNG and natural gas to end- customers on the domestic Chinese market, said the Russian company, which has an ambitious LNG strategy.
Ukraine’s state-owned gas transport opera- tor Ukrtransgaz believes that the nation's gas market is facing "the pre-default state" caused by stealing of gas supplies from the transport system.
The Belarusian government is going to secure a $500mn-$600mn loan from the China Development Bank with the aim to refinance its foreign debt, Belarusian Deputy Finance Minister Andrei Belkovets told reporters.
Russia's manufacturing sector posted a deterioration in operational conditions for May 2019. The decline means that for the first time since August 2018 the sector has fallen into the negative zone as measured by the Manufacturing Purchasing Managers’ Index (PMI), a monthly report by IHS Markit shows.
Ex-president of Ukraine Leonid Kuchma will again lead the Ukrainian side in the trilateral OSCE-Ukraine-Russia contact group, according to President Volodymyr Zelenskiy.
The National Bank of Ukraine (NBU) kept rates on hold at 17.5% per annum, as inflation falls but inflationary pressure remains. "The decision was required to neutralise inflation risks, which have increased since the previous decision taken in April, and to attain the 5% inflation target next year," the NBU said on its website.
German pharma giant Bayer put the production of anti-inflammation medicine Neksavar with Russia-based Polisan on hold due to an alleged breach of its patent by a Russian competitor, Kom- mersant daily reported the sources in the company.
Russian nuclear energy agency Rosatom is lobbying for its own National Project entitled “Nuclear science, equipment, and technology,” that potentially involves RUB800bn ($12.3bn) of investment into the nuclear power sector.
Russia's largest bank Sberbank will start pro- moting online cinema Okko in its branches, and will grant Rambler Group access to acquiring and ID systems of its client base, Kommersant daily said following up on the memorandum on operational cooperation signed between the parties at the St Petersburg International Economic Forum (SPIEF).
A fire erupted at a poultry house owned by Ukraine's egg producer Ovostar Union in the town of Vasylkiv in the Kyiv region that killed over 200,000 chickens. The damaged poultry house’s capacity is at 0.2mn hens, which is 2.5% of the company’s total hen flock.
Bonduelle-Belgorod will be getting into the frozen vegetable business in Russia after it acquired the assets of the Shebekinsky vegetable factory, which went bankrupt in 2018 and spe- cialises in producing packed frozen vegetables. Bonduelle-Belgorod is one of the subsidiaries
of French food major Bonduelle in Russia.
Ukraine’s finance ministry projects the state debt to fall to 42.4% of GDP by the end of 2022 from 52.3% of GDP at the end of 2018, according to the Mid-Term Strategy of State Debt Management for 2019-2022 adopted by the Cabinet of Ministers.