MARCH 24 2015 (The Conway Bulletin) – Russian president Vladimir Putin signed a protocol that officially cleared Kyrgyzstan’s accession to the Eurasian Economic Union (EEU) later this year, Russian media reported. Russia, Kazakhstan, Belarus and Armenia are already members of the EEU.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 224, published on March 25 2015)
MARCH 24 2015 (The Conway Bulletin) – The Asian Development Bank (ADB) sent a warning to all Central Asian economies, and in particular to Tajikistan, in its Asian Development Outlook report.
Landlocked and dependent on remittances from migrant workers, Tajikistan is particularly vulnerable to the present economic crisis, the ADB said.
The ADB said Tajikistan is expected to experience a deceleration in its GDP growth. This had averaged 9% between 2010-14 but will fall to 5%.
“The decline in remittances and the traditional exports of aluminum and cotton slowed growth in 2014 and inflation worsened to 6.1%,” it said.
The ADB is also expecting rampant inflation and a further devaluation of the somoni currency by 6.5%.
Remittances, mostly from Tajik workers in Russia, represent roughly half of its GDP. The rouble crisis has affected both the value of those transfers and the capacity of these workers to retain their jobs. The ADB also said that new legislation for migrant workers in Russia will hit Tajikistan’s earnings.
“Remittances will likely contract further in 2015 as new regulations require that migrants to the Russian Federation have Russian language proficiency, as well as medical tests and health insurance that are estimated to cost about $500 per Tajik migrant,” it said.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 224, published on March 25 2015)
MARCH 20 2015 (The Conway Bulletin) – After announcing a 58% rise in net profit, Halyk Bank said it would increase its shareholder dividend to 30% of its total profit. This is an increase from 2014 when Halyk Bank paid out dividends worth 25% of its profit. Halyk Bank is one of Kazakhstan’s biggest and most profitable banks.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 224, published on March 25 2015)
MARCH 18 2015 (The Conway Bulletin) – A planned visit by Georgian PM Irakli Garibashvili to Kiev has been delayed without explanation, Georgian media reported. Georgia has been a vocal supporter of the Kiev government in its conflict with Russia-back rebels but it was irritated by Ukraine’s promotion of former Georgian president Mikheil Saakashvili as an adviser.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 224, published on March 25 2015)
MARCH 19 2015 (The Conway Bulletin) – Georgia, NATO and various Western powers criticised a deal made between Russia and the Georgian breakaway region of South Ossetia as a threat to regional security.
The day before, Russian President Vladimir Putin signed an “alliance and integration” deal with South Ossetia. Georgia said this was virtually an annexation of the region.
“It’s a cynical and provocative step by Russia,” media quoted Georgian foreign minister Tamar Beruchashvili as saying. “We consider it a move aimed at annexation.”
Relations between the West and Russia are particularly strained at the moment over the Kremlin’s annexation of Crimea last year and its involvement in funding rebels in eastern Ukraine.
Under the deal, S.Ossetia’s security forces become aligned to Russia’s. This is similar to deal already signed by Abkhazia.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 224, published on March 25 2015)
MARCH 20 2015 (The Conway Bulletin) – A gas pipeline that will run from Turkmenistan, across Afghanistan to Pakistan and India will cost $7.6b to build, India’s oil and gas ministry said. TAPI, as the pipeline is called, is one of the most ambitious pipeline projects in the world.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 224, published on March 25 2015)
MARCH 25 2015 (The Conway Bulletin) – Giving a boost to the Trans-Anatolian Natural Gas Pipeline project (TANAP), BP said it was close to a deal to become one of its stakeholders.
In an interview with Reuters, Chris Schlueter, BP country manager in Georgia, said good progress on a deal had been made.
“We are very, very close,” he said. “I think (we will sign the deal) in the next two months.”
Shares in BP rose on the news.
TANAP is seen as a vital plank of the EU’s future energy policy, diversifying away from Russia. It will carry Azerbaijani gas from the Caspian Sea, across Georgia, Turkey and the Balkans to central Europe.
Analysts have said that they consider it vital that, alongside Turkish and Azerbaijani companies, BP is a major shareholder in the project.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 224, published on March 25 2015)
MARCH 19 2015 (The Conway Bulletin) – China has opened up negotiations on building a transport and logistics hub in north Kazakhstan, media reported. China would use the hub to send goods to Russia and to Europe. Kazakhstan has been promoting itself as a stage-post between Europe and Asia.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 224, published on March 25 2015)
MARCH 21 2015 (The Conway Bulletin) – Uzbekistan has signed a three year extension to a contract with Afghanistan to maintain the 75km railway from Hairstan, on the Uzbek-Afghan border, to Mazar-i-Sharif, media reported. Reports said the contract was worth $19m/year to Uzbekistan. This is a rare Uzbek service export.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 224, published on March 25 2015)
MARCH 24 2015 (The Conway Bulletin) – Malaysia-based Cliq Energy said it would buy stakes in two oil fields in Kazakhstan for $117.3m through a 51% purchase of Phsytech Firm. The fields are located in the North Karazhanbas region of Mangistau, west Kazakhstan, and have proven reserves of 39.5m barrels of oil.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 224, published on March 25 2015)