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  • 21 Jun 2019 11:16 AM | Vera Dedyulya (Administrator)


    On June 18, 2019 the National Bank of Ukraine (NBU) announced cancellation of mandatory conversion of foreign currency proceeds into UAH starting from June 20, 2019. This restrictive measure was last introduced in 2012 to stabilize the Ukrainian currency. In the past, the rate of mandatory conversion varied from 50% to 100%.

    The last time it was changed it was reduced to 30% in March 2019 as a part of liberalization of foreign currency control rules. Cancellation of this measure was arguably one of the most expected by the international business community in Ukraine. This step will improve the business climate in Ukraine and increase its attractiveness among international investors.

    _____________________

    Information from the Schneider Group, June 18, 2019

    If you would like more information on the liberalization of currency rules in Ukraine, please feel free to contact the Schneider Group

  • 28 May 2019 3:00 PM | Alexander Belyasov (Administrator)

    In the 2020 edition of the Best Lawyers in Russia, five Gowling WLG professionals from the Moscow office earned a total of 10 listings across multiple areas of law – a testament to the firm's Intellectual Property (IP) strength and expertise in Russia and the CIS.

    The following Gowling WLG professionals have been recognized:

    Information Technology

    Alexander Christophoroff

    Intellectual Property

    Maria Aronikova

    David Aylen
    Alexander Christophoroff
    Marina Drel
    Vladislav Ugryumov

    Life Sciences

    Vladislav Ugryumov

    Litigation

    Alexander Christophoroff
    Marina Drel

    Telecommunications

    Alexander Christophoroff (Lawyer of the Year, 2020)

    Considered one of the world’s most authoritative guides to legal talent, the Best Lawyers series is published annually and ranks individual lawyers and firms across a wide range of jurisdictions and practice areas.

    Gowling WLG is one of the world's most respected and trusted law firms when it comes to protecting and enforcing IP rights. Through the firm’s Moscow office, the experienced team of IP practitioners has worked seamlessly with a global clientele for over two decades to deliver strategic advice in all aspects of IP law throughout Russia and the CIS. Learn more

  • 28 May 2019 9:38 AM | Vera Dedyulya (Administrator)

     

    Ten agreements for $150 million were signed at the Uzbekistan-U.S.-Canada business forum, in Navoi on May 17, including 5 in investment and trade and 5 in education, health care, and twin city relations, the Foreign Ministry of Uzbekistan reported.

    The Navoi region administration has signed a $100 million agreement with Calatrava Grace on the construction of the single composite block factory and affordable housing. Cooperation has been established with Canada’s Advanced Bio-Oil Technologies in the creation of the cluster for growing biofuel crops. The investments in the project are estimated up to $24 million.


  • 28 May 2019 9:30 AM | Vera Dedyulya (Administrator)

     Uzbekistan plans to split up its state energy company amid efforts to boost efficiency, improve transparency, and attract foreign capital.

    The overhaul comes as Central Asia’s most populous nation -- and one of the top three natural-gas producers in the former Soviet Union -- opens up after decades of isolation. The government has stepped up efforts to bring in more outside investment as it targets a 17% increase in gas production by 2025.

    Uzbekneftegaz will be split into three separate companies by the end of this year, Chairman Bakhodirjon Sidikov said in the Uzbek capital, Tashkent. One will produce gas and oil and run refineries, one will operate pipelines, and the third will oversee gas distribution, he said.

    By dividing up Uzbekneftegaz -- the country’s largest employer -- the government is seeking to prevent potential conflicts of interest as it courts foreign investors following the death of longtime leader Islam Karimov in 2016. His successor, Shavkat Mirziyoyev, has won praise from the International Monetary Fund for a wave of reforms that included liberalizing foreign exchange and improving the quality and availability of economic data.

    FDI Boost

    Amid the changes at Uzbekneftegaz, the government is considering selling part of its 100% stake, according to 40-year-old Sidikov. It also plans to introduce public-private partnerships in the gas distribution system and is seeking more than $30 billion of foreign direct investment for projects across the company in the next six years, he said.

    Uzbekneftegaz attracted $1.2 billion of FDI in the first four months of 2019, more than double an initial target of $550 million.

    “We used to have a lot of issues with attracting foreign investment because all information was considered confidential,” Sidikov said. “Now we have instructions from our president, and Uzbekneftegaz will be an open company.”

    That openness extends to its foray into international debt markets. Uzbekneftegaz is talking with Credit Suisse Group AG and others to raise $1 billion in a debut eurobond sale around the middle of next year, according to Sidikov. The Uzbek government, aiming to set a benchmark for corporate issuers, also sold $1 billion of eurobonds in February.

    Production Target

    Uzbekneftegaz plans to pump 43 billion cubic meters of gas this year. The country as a whole expects to increase production to 63.6 billion cubic meters, from 60 billion in 2018, and is targeting 70 billion by 2025.

    Foreign producers Lukoil PJSC, Gazprom PJSC and China National Petroleum Corp. are already producing gas in Uzbekistan. Mirziyoyev has now given “clear instructions” to Uzbekneftegaz to invite more major energy companies such as BP Plc and Total SA to explore and develop the country’s gas reserves, Sidikov said.


  • 28 May 2019 9:19 AM | Vera Dedyulya (Administrator)

    President Shavkat Mirziyoyev signed the Using Renewable Energy Bill into Law. According to the document, producers of renewable energy and renewable energy units within their authority are entitled to:

    • participate in the preparing and implementation of state and other programs in the field of the use of renewable energy;
    • enjoy tax, customs and other benefits and waivers in the use of renewable energy;
    • create local grids (electric, thermal and (or) gas);
    • enter into contracts with legal entities and individuals for the sale of electricity, thermal energy and (or) biogas, produced from renewable energy sources supplied through a local (electric, thermal and (or) gas) grids.

    “Tax and customs waivers can be provided to businesses and individuals when importing renewable energy units, the use of which significantly increases the efficiency of using renewable energy sources,” the document said.

    Renewable energy producers will be exempt from property tax for renewable energy units and land tax on the areas occupied by these facilities (with a nominal capacity of 0.1 MW or more) for a period of ten years from the date of commissioning.

    The law states that the tariffs for electricity generated from renewable energy sources will be set following bids.

  • 16 May 2019 9:00 AM | Alexander Belyasov (Administrator)

    Moscow, May 2019 from February to April 2019, lawyers from Dentons’ Russia Real Estate practice held a series of nine seminars on current leasing issues. These events were attended by more than 600 representatives from top Russian and international companies in the fields of real estate and construction, the hotel and restaurant business, retail and FMCG, financial institutions, professional brokerage services and others.

    The seminars were held in a panel format and included discussions of current cases and controversies, answers to client questions and sharing of practical experience among business representatives, in-house lawyers, brokers and Dentons professionals. The seminars delved into the following topics: execution of a premises lease agreement; lease payment structuring; securing the performance of obligations; limitation of the parties’ liability; works in leased premises; and termination of leases. For each of the topics, special attention was given to tax and litigation issues, which were covered by lawyers from Dentons’ Commercial Litigation and Tax practices. The discussions were based on Dentons lawyers’ considerable hands-on experience with lease transaction support and leasing litigation, along with the experience of participating companies.

    Sergey Trakhtenberg, partner and head of Dentons’ Russia Real Estate practice: “Our team went to considerable lengths to make this series of events as useful and interesting as possible for our clients. We are delighted by the huge turnout for the seminars and the numerous attendees taking direct part in the discussions. This was a classic win-win situation in which all involved, both Dentons' lawyers and our clients, had an opportunity to share valuable expertise on the latest issues affecting the leasing market. The audience engagement, minimum of theories and utmost emphasis on practical experience by all attendees made this series of seminars a notable happening in the Russian legal market.”

    About Dentons

    Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Global Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.  www.dentons.com

    * 2018 The American Lawyer – Global 100 law firm ranking by number of lawyers.

  • 06 May 2019 4:00 AM | Alexander Belyasov (Administrator)

    Dear CERBA Members and Partners,

    On behalf of CERBA long-standing Member – Antal Russia, we would like to invite you to take a comprehensive survey of salary levels for specialists, managers and leaders in companies across Russia.

    The objective of the survey is to help to analyze the Russian job market and to find out about salaries changes in 2019.

    Please use the following link to take a survey: https://ru.surveymonkey.com/r/ss2019wEN The survey is anonymous and takes about 12 minutes to complete. It is free to participate and you will be emailed the results free of charge. Hurry up! The survey will close soon.

    If you have any questions or comments about the survey, please contact Antal Russia. 

    Thank you very much in advance!

  • 15 Apr 2019 10:31 AM | Vera Dedyulya (Administrator)


    MINSK, 12 April (BelTA) – Belarus' Deputy Minister of Foreign Affairs Oleg Kravchenko paid an official visit to Canada on 8-12 April to attend bilateral ministerial consultations, BelTA learned from the press service of the Belarusian Ministry of Foreign Affairs.

    Canada was represented at the talks by Assistant Deputy Minister Mark Gwozdecky. The parties talked over the state and prospects of the Belarusian-Canadian relations, bilateral cooperation within international organizations, the situation in the Eastern-European region and also Belarus' relations with leading partners.

    The issues of international security, the situation in the European region, the Belarusian-Canadian relations were considered at the meetings with Chairperson of the Standing Committee on Foreign Affairs and International Development of the House of Commons of Canada Michael Levitt and Chairperson of the Senate Standing Committee on Foreign Affairs and International Trade Raynell Andreychuk. At the conference on integration in the Eurasian region Oleg Kravchenko laid out Belarus' initiatives to establish cooperation and further alignment between the regional integration associations – the Eurasian Economic Union and the European Union. The participants of the conference also talked over Belarus' participation in the EAEU with the focus on benefits and advantages for Canada and other western countries regarding the development of cooperation with Belarus.

    Belarus-Canada cooperation in trade, economic and investment sectors was discussed at the talks with CERBA Chairperson Gilles Breton and the management of the Canadian companies interested in cooperation with Belarus.

    Cooperation prospects with the Belarusian State Museum of the Great Patriotic War History were discussed at the meeting with representatives of the Canadian War Museum. 


  • 11 Apr 2019 4:00 PM | Alexander Belyasov (Administrator)

    In March 2019 Bellerage was joined by the Financial Outsourcing and Legal Compliance practices of Alinga Consulting.

    The joint company - Bellerage Alinga - has more than 100 employees in Moscow and St. Petersburg and serves more than 300 clients from different industries.

    “The merger allows us to strengthen our position as price-quality leader in financial outsourcing, as well as significantly expands the opportunities for further growth,” commented Alexander Bykov (Managing Partner Bellerage).


    Chet Bowling (Managing Partner Alinga) added that “Bellerage Alinga should now be rated #7 in the RA Expert Rating, allowing us to challenge the bigger players in the market.”

    Bellerage Alinga provides a wide range of services in the following areas: Financial Outsourcing, Tax Consulting & Audit, Legal Support, and Business Process Automation.

    "This Consulting Business Model, unique to the 2nd tier marketplace, allows us to be perceived by our clients as complimentary to the Big 4. Providing complex business support solutions is our greatest strength, and the merger with Alinga Consulting is yet another step towards our leadership in this area," notes Bellerage Partner Jonathan Tubb (15 years Senior Partner at E&Y and Deloitte CIS).

  • 09 Apr 2019 1:16 PM | Vera Dedyulya (Administrator)

    Image result for kazakhstan flag

    NUR-SULTAN. KAZINFORM - Addressing the nation of Kazakhstan, Head of State Kassym-Jomart Tokayev announced snap election of the President of Kazakhstan, Kazinform correspondent reports. 

    "Dear compatriots, I am addressing each of you! In accordance with the country's Constitution, I made a decision to hold snap election of the President of the Republic of Kazakhstan on June 9, 2019," said Kassym-Jomart Tokayev.

    The Head of State pointed out that on this matter, he had consulted with the Leader of the Nation Nursultan Nazarbayev, the speakers of both houses of the Parliament, the Prime Minister of the country, conferred with the Constitutional Council upon his decision, and met with leaders of parliamentary parties. "The decision on the early elections is crucial and necessary," he said.  


    as per KazInform

    International news agency

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