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Business News

Friday, 05 March 2010

Belinvestbank, Priorbank to launch trust management funds May 1

Belarusian JSC Belinvestbank and Priorbank JSC in the period May 1, 2010 through December 31, 2012 will create trust management funds to test trust management services, under presidential ordinance #131 dated March 3, 2010.

The ordinance exempts from taxation profits of beneficiaries (individuals and corporate entities) that transfer funds in banks’ trust management.

The ordinance approves the provision on bank trust management funds.

The results of the test will be reported to the president by March 1, 2012.

The document comes into effect on May 1, 2010.

Belinvestbank was created in September 2001. The State Property Committee control 85.8% in the bank, and the National Bank holds 6.5%.

Priorbank JSC is a member of RZB Group and a subsidiary of the Austrian banking holding Raiffeisen International Bank-Holding AG. Prirobank JSC was founded on 20 January, 1989. The major shareholder of the bank is Raiffeisen International (87.74%).

Prime-Tass

10.09.2010 -		NBB cuts target for cashless payments in retail turnover to 8% from 30%

10.09.2010 -		Belarus to complete work on double taxation agreements with Spain, Slovenia soon

10.09.2010 -		NBB to cut refinancing rate to 10.5% from 11% September 15

09.09.2010 -		Belarus’ interbank payments down 11.2% on year in Jan-Aug

09.09.2010 -		Belarus’ gold, FX reserves up 1.3% in Jan-Aug to $6.055 bln

09.09.2010 -		National Statistics Committee presents preliminary findings of 2009 census

08.09.2010 -		Belarus’ average monthly wage in public sector to remain at $400 in ‘11

08.09.2010 -		Belarus’ lower house adopts amendments to Tax Code after 1st read

08.09.2010 -		Lower chamber OKs bill on social security fund for 2011 after 2 reads

07.09.2010 -		Finance Ministry still plans to sell Eurobond in Russia

07.09.2010 -		BCSE’s state securities trading on secondary market down 7.7%/mo in August

07.09.2010 -		NBB allows down payments under import contracts not exceeding 5,000 euros

05.09.2010 -		Belarus raises postal service tariffs 10%, telecoms service fees 7.1%

04.09.2010 -		Belarus’ Br trading on interbank loan market up 50% in August

03.09.2010 -		BCSE’s U.S. dollar ask $312.911 mln below bid in August

03.09.2010 -		State enterprises enabled to transfer part of profits to budget on quarterly basis

03.09.2010 -		Lukashenko abolishes licensing of 16 activities Jan 1, 2011

02.09.2010 -		Belarus’ internal debt up 1.2% in July ‘10 to Br8.418 tln

02.09.2010 -		Belarus’ foreign debt down 0.7% in July to $8.479 bln

02.09.2010 -		Belarus’ govt raises fixed salaries for some public sector workers 10%-25%