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Hotel to open in Georgia

FEB. 23 2016 (The Conway Bulletin) — Georgian company RED-Co said it will build a $15m five-star Radisson hotel in the Gudauri ski resort. The new hotel will open in 2017 at the bottom of the Gudauri ski gondola. Together with the Georgian government, several private companies are developing the Gudauri ski resort, 30km south of the border with Russia. It will be the first five-star hotel at Gudauri.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 269, published on  Feb. 26 2016)

Kazakh President praises EEU

FEB. 25 2016 (The Conway Bulletin) – At a meeting with the new chairman of the Eurasian Economic Commission (EEC), former Armenian PM, Tigran Sargsyan, Kazakh President Nursultan Nazarbayev reaffirmed his support for the often derided Eurasian Economic Union (EEU). The EEC is the civil service that runs the main operations of the EEU. Critics of the EEU have said that it is a Kremlin project dreamt up to increase its political power over other members. As well as Kazakhstan and Russia, members include Armenia, Belarus and Kyrgyzstan.

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(News report from Issue No. 269, published on Feb. 26 2016)

 

Group attacks editor in Kyrgyzstan

FEB. 21 2016 (The Conway Bulletin) – A group of men armed with metal bars beat up the editor of the Money and Power weekly business newspaper, Turat Akimov, an attack that has worried other journalists and political analysts. Media observers have been warning for the past year that Kyrgyzstan’s media scene was getting more and more pressured.

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(News report from Issue No. 269, published on Feb. 26 2016)

 

Kyrgyz businesses say the odds are stacked against them in the EEU

BISHKEK, FEB. 25 2016 (The Conway Bulletin) — Kyrgyz farmers and exporters of agricultural products have said that the Eurasian Economic Union (EEU), a group centred around the Kremlin that was supposed to boost its members’ economies, has undermined their businesses by exposing them to unfair competition.

The insight collected by The Conway Bulletin’s correspondent in Bishkek, undermines claims by President Almazbek Atambayev that joining the EEU in August was a positive move for Kyrgyzstan.

Sergey Ponomarev, head of the business lobby group AMTSS and a former PM adviser, said that cheaper Belarusian goods had hit Kyrgyzstan’s key export market in neighbouring Kazakhstan.

“In Belarus, prices for animal feed are largely subsidised by the state, which makes their products cheaper on the Kazakh market,” he said. Mr Ponomarev said that the Belarus government subsidises its farmers’ animal feed, something the Kyrgyz government doesn’t do.

Data released by Kyrgyzstan’s state statistics committee last month showed that in 2015 exports of clothes fell by 50%, fruit and vegetables exports fell by a third and tobacco exports by 28%.

This has partly to do with the worsening economic conditions in the region but also because of the more competitive export markets created by the EEU.

Tilek Toktogaziyev, the owner of a greenhouse in Bishkek. which sells various fruit, vegetables and berries, said: “Local farmers cannot trade their vegetables, and some of them have stopped farming altogether.”

Previously, business owners have complained of extra red tape after joining the EEU but they hadn’t complained of excessive competition.

One business owner, though, was more positive. Dastan Omuraliev, the manager of Organic, a company producing fruit juices, said: “With entering the Eurasian Economic Union, it became easier to pass our goods through the Kazakh border.”

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 269, published on Feb. 26 2016)

 

Electricity price to rise in Armenia

FEB. 25 2016 (The Conway Bulletin) – Armenia’s Public Services Regulatory Commission (PSRC) approved a 1.5b dram ($3m) investment in its Soviet-era nuclear power plant Metsamor. Also at the press conference, the PSRC chairman, Shiraz Kirakosyan, said the controversial issue of raising electricity prices would be revisited in April. Last year proposed electricity price rises triggered street protests.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 269, published on Feb. 26 2016)

 

Uzbek companies fail salaries

FEB. 19 2016 (The Conway Bulletin) – Companies in Uzbekistan are failing to pay staff their full salaries, eurasianet.org reported quoting figures from a state agency that showed fines totalling $500m being handed out for failing to pay salaries on time. This could be, eurasianet.org reported, a sign that worsening economic conditions are hitting Uzbekistan.

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(News report from Issue No. 269, published on Feb. 26 2016)

 

Azerbaijan upholds sentence

FEB. 24 2016 (The Conway Bulletin) – Azerbaijan’s Supreme Court upheld a conviction of tax evasion and abuse of authority against human rights lawyer Intiqam Aliyev who was arrested in August 2014 and sentenced in August 2015 to 7-1/2 years in prison. Critics of Azerbaijan have said that the authorities have been suppressing any form of opposition to President Ilham Aliyev and his cohort of elites.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 269, published on Feb. 26 2016)

Kazakhstan’s ArcelorMittal worries

FEB. 19 2016 (The Conway Bulletin) — Vijay Mahadevan, CEO of steel maker ArcelorMittal Temirtau which is one of the biggest employers in Kazakhstan, said his company will be looking at a drop in net income (EBITDA) of 13% in 2016, from $5.2b to $4.2b because of low global commodity prices. At the beginning of February, ArcelorMittal Temirtau scrapped plans to raise workers’ salaries in June because of worries about continued weak market conditions for its products.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 269, published on  Feb. 26 2016)

 

Kazakh companies struggle with bills

FEB. 12 2016 (The Conway Bulletin) – Kazakh companies are struggling to pay for the electricity they are using because of a general downturn in the economy, the deputy minister of energy Bakhytzhan Dzhaksaliyev told media. His views are another indication of the problems that Kazakh companies are facing as they try to counter the worsening economic conditions.

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(News report from Issue No. 268, published on Feb. 19 2016)

 

Wizz Air expands to Georgia

FEB. 17 2016 (The Conway Bulletin) – Hungarian budget airline Wizz Air will expand its services to and from Kutaisi, Georgia’s second largest city, across Europe. Wizz Air has been flying from Poland to Kutaisi since 2012 but will now add routes to Berlin, Munich, Dortmund, Milan, Larnaca in Cyprus and Sofia in Bulgaria. The extra routes will give tourism and business in Georgia a boost.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 268, published on Feb. 19 2016)