Kyrgyzstan’s businessman Nikolai Korobovsky was detained in Moscow on March 10, a source in law enforcement agencies reported. Russia’s Investigative Committee charges him with large-scale fraud. According to the source, a criminal case was initiated on December 28, 2024 following a complaint from Korobovsky’s business partner. “He was detained upon arrival in Moscow from Bishkek.…
The European Commission suggests prolonging the support of Ukrainian metal industry by retaining the current duty-free imports of steel. With this initiative the Ukrainian steel sector could continue exporting its products to the European Union without limitations, which is an important income source for Ukraine. This decision aims to support Ukrainian manufacturers in difficult situation…
On March 7, President of Uzbekistan Shavkat Mirziyoyev reviewed a presentation on the development of strategic mineral resources and the manufacture of high-value-added products. The country has identified deposits of more than 30 metals, including tungsten, molybdenum, magnesium, lithium, germanium, graphite, vanadium and titanium. However, until recently, this sector had not received sufficient attention, with…
In January-February, Dniprovsky Iron and Steel Works increased rolled metal manufacture by 9.2% YoY, to 7.1 thousand tons. According to the company statement, coke manufacture decreased by 20.2%, to 36.2 thousand tons. In February, DMZ produced 6.6 thousand tons of rolled metal, up by 29.4% YoY, and 17.3 thousand tons of coke, down by 23.7%.…
On March 3, the Commercial Court of Kyiv launched bankruptcy procedure for the Heavy Metal plant in Pershotravensk, Mykolaiv region, which produced rolled metal with polymer coating. The bankruptcy was initiated by Nordicsteel LLC from Kamyanets-Podilskiy after the majority shareholder Tetyana Taruta decided to shut down the enterprise and appointed new management. Nordicsteel is owned…
The output of Uzbekistan’s metallurgical industry totaled 14.1 trillion sums ($1.09 billion) in January. The data from the Statistics Agency showed that this sum rose by 35.5% YoY. The proportion of the metallurgical sector within the manufacturing landscape constituted 32%. At the same time, the volume of other non-metallic products reached 1.8 trillion sums ($139.6…
Since March 1, Interpipe has increased wages of all its employees, most of whom are in the frontline area – in the cities of Dnipro, Nikopol and Samar. This is the third time that the company increases wages since the start of the Russian large-scale invasion. “Today the company provides work to over 9 thousand…
The state-owned company Navoiyuran reported a 2-fold increase in net profit in 2024, according to its financial statements. The company’s revenue for the reporting period reached 11.6 trillion sums, up by 92.7%. Gross profit from product sales and operating profit more than doubled, amounting to 8.67 trillion and 6.15 trillion sums, respectively. Navoiyuran’s retained earnings…