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McDonald’s restaurants reopen in Russia under new name

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(Last Updated On: June 12, 2022)

McDonald’s (MCD.N) restaurants flung open their doors in Moscow once again on Sunday under new Russian ownership and a new name: Vkusno & tochka, which translates as “Tasty and that’s it”, Reuters reported.

The new dawn for Russia’s fast-food scene will initially see 15 rebranded restaurants open in and around the capital after the U.S. burger giant turned its back on the country over what Russia calls a “special military operation” in Ukraine.

According to Reuters the reopening of the outlets, three decades after McDonald’s first opened in Moscow in a symbolic thaw between East and West, could provide a test of how successfully Russia’s economy can become more self-sufficient and withstand Western sanctions.

Oleg Paroev, chief executive of Vkusno & tochka, said the company was planning to reopen 200 restaurants in Russia by the end of June and all 850 by the end of the summer.

“Our goal is that our guests do not notice a difference either in quality or ambience,” Paroev told a media conference in what used to be the first McDonald’s restaurant that opened in Soviet Moscow in 1990.

Alexander Govor, the new owner of the chain, said the company employs 51,000 people, read the report.

“The corporation asked me to, first of all, keep the headcount, to provide people with work. That’s what I’m going to do,” he added.

The rebranded fast-food chain will keep its old McDonald’s interior but will expunge any references to its old name, said Paroev, who was appointed Russia McDonald’s CEO weeks before Moscow sent tens of thousands of troops into Ukraine on Feb. 24, Reuters reported.

Paroev said the company would keep “affordable prices” but did not rule out that they would go up slightly in the near term.

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Herat’s exports total $102 million in past year: officials

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(Last Updated On: April 2, 2023)

Herat province’s Chamber of Commerce and Investment says it has exported more than $100 million worth of goods over the past year.

Younus Qazi Zada, head of Herat Chamber of Commerce and Investment, said that during this period, more than 76,000 tons of goods were exported to Gulf countries, Europe, America and neighboring countries.

“Through the export department of Herat’s Chamber of Commerce and Investment, we exported 76,300 tons of different types of goods to Gulf countries, Europe, America and neighboring countries,” said Qazi Zada.

He said the exports totaled $102 million dollars, which was good for Afghanistan’s economy.

According to officials, the western region of the country has exported a large amount of agricultural and livestock products in the last year, and the number of exports has increased compared to previous years.

The local officials meanwhile have said they will try to improve the export process.

In addition, the export volume of medicinal plants from Herat province has also increased in the past year. Many farmers in the area have started cultivating such plants including asafetida, which are now being exported.

According to reports, Afghanistan has exported about $2 billion over the last year, which has increased exports due to the ease of businessmen and the reduction of customs tariffs.

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Afghanistan’s exports total $2 billion for last solar year

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(Last Updated On: March 29, 2023)

The deputy minister of trade and industry said on Tuesday at a press conference that Afghanistan’s exports totaled $2 billion for the past solar year.

Presenting his financial report for the 1401 solar year, Mawlavi Qadratullah Jamal said: “For the first time, Afghanistan’s exports have reached about two billion dollars, which shows an increase of 135 percent compared to [solar year] 1400 and 166 percent compared to 1399.”

According to the deputy minister, the recent actions of the Islamic Emirate’s administrations on improving the trade balance, maintaining monetary stability, creating work opportunities and providing transparency in revenue collection are among the reasons for the growth in Afghanistan’s trade and export revenue.

“During the last year, with a total value of $925.5 million, coal, cotton, hemp, pomegranate, raisins, figs, grapes, Roman eggplant, black pine nuts and onions to Pakistan, India, Uzbekistan, Tajikistan, United Arab Emirates, China, Iran, Iraq, Turkey and Kazakhstan have been exported,” Jamal said.

Officials add that in order to standardize and increase the country’s exports, the ministry plans to establish export processing centers in five zones around the country.

Officials have also said that the necessary facilities have been provided for importing goods and that the private sector can import their goods without any problems.

The deputy minister added that in order to strengthen trade, facilitate exports and imports and expand cooperation between countries, necessary arrangements have been made with neighboring countries such as Iran, Pakistan, Russia, China, Uzbekistan, and Turkmenistan.

The officials of the ministry say that in terms of development and improvement of the industry in Afghanistan, fundamental steps have been taken, which includes growth in 50 sectors – including the iron smelting and skewer production sector, the spice sector, the soft drink production sector, the carpet sector and the printing sector.

According to the ministry, there are 51 industrial parks in the country, of which 14 industrial parks have been kept active during the last year, and efforts are underway to attract investment and reactivate all industrial parks.

According to the officials, in terms of attracting domestic and foreign investments, by providing the necessary facilities, the barriers to the investors have been removed.

Recently, a service center was established at the Kabul airport, and so far, 100 investors have received visas through this center. In addition, the ministry has created a legal and regulatory framework so that domestic and foreign investors can invest in the country with full confidence.

Also, the complex and time-consuming processes have been modified and now the private sector and entrepreneurs can receive, renew or cancel their licenses in the shortest possible time, officials said.

According to the ministry, during the last year, 5,100 licenses were distributed, 7,228 licenses were renewed and 333 licenses were canceled and 7,000 business passports were also distributed.

According to officials, during the year 1401, the amount of 341.6 million afghanis was allocated to this ministry and the amount of 15.5 million afghanis was allocated to this ministry, of which 83.3 percent of this amount was used.

Also, in 1401, a total amount of 704.48 million afghanis was collected, which shows a 43.37 percent increase compared to last year.

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Five countries eager to invest in lithium mines in Nuristan: officials

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(Last Updated On: March 24, 2023)

The Islamic Emirate officials say five countries are interested in investing in the “lithium” mining sector in Afghanistan’s Nuristan province.

Mohammad Yunus Rashid, the deputy of youth in the Ministry of Information and Culture, said that Japan, the US, China, Qatar and the United Arab Emirates are among the countries that are interested in investing in the mining sector of lithium mines in Nuristan province.

“There is a lot of interest in lithium mining at the global level, five countries have made contact with the Islamic Emirate and said that they are ready to invest in this sector,” said Rashid.

According to officials, there are high capacities for economic self-sufficiency in the country and positive changes will be made in the economic development of the country in the near future.

Economic experts meanwhile believe that if the extraction and processing of the country’s minerals are done in Afghanistan, the country can get out of the economic crisis very quickly.

“There are trillions of dollars of capacity in Afghanistan’s mines, which should be invested, the statistics should be accurate, the regions should be determined, in which areas we have what kind of mines,” said Kamaluddin Kakar, an economic expert.

In addition, members of the private sector say they are trying to invest jointly and individually with foreign investors in the mining sector. They call on the Islamic Emirate to hand over mining contracts to companies that have the ability to process in the country.

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