Category Archives: Uncategorised

Kazakh Central Bank keeps interest rates steady

JAN. 13 2023 (The Bulletin) — Kazakhstan’s Central Bank kept its key interest rate steady at 16.75% because it said that inflation was still rising, although more slowly than previously. Annualised inflation in Kazakhstan now stands at around 20.3%. In Georgia, the Central Bank said that inflation measured around 9.8%. Kyrgyzstan was the only country in the region to lower interest rates last year.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Georgia trade turnover jumps by a third

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JAN. 13 2023 (The Bulletin) — Georgia’s foreign trade turnover, an important indicator on the health of its economy, jumped by 32.8% in 2022 to $19b, the state statistics committee said. Georgia’s economy has rebounded fast and hard since the coronavirus pandemic dented output and demand.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Kazakh inflation hits Steppe Cement profit

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JAN. 11 2023 (The Bulletin) — London-listed Steppe Cement said that high inflation in Kazakhstan would hit its profit in 2022, forcing its share price to drop by 15%. The announcement was significant because it was one of the first times that business has admitted that high inflation in Kazakhstan, at 20%, is hurting it.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Azerbaijan appoints first ambassador to Israel

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JAN. 11 2023 (The Bulletin) — Azerbaijan appointed its first-ever ambassador to Israel. The appointment came as its relations with Iran continued to sour. It has boosted relations with Israel over the past few years, trading oil for weapons. Israel has previously said that in the event of war with Iran, it will use air bases in Azerbaijan.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Nazarbayev loses Elbasy status and title

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JAN. 11 2023 (The Bulletin) — A law that gave former Kazakh president Nursultan Nazarbayev elevated status and power has been scrapped. Mr Nazarbayev has seen his legacy and privileges eroded since losing a power struggle with his successor, Kassym-Jomart Tokayev, last year after anti-government protests. He has now lost his title of Elbasy, or Father of the Nation.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Pashinyan accused of nepotism

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JAN. 10 2022 (The Bulletin) — Three Armenian NGOs accused PM Nikol Pashinyan of nepotism after he appointed his childhood friend, Vahe Ghazaryan, as interior minister. They pulled out of a high-profile project with the government to reform the Armenian police, often accused of being corrupt and incompetent. Mr Ghazaryan has been head of Armenia’s national police force since 2020. Mr Pashinyan approved the re-establishment of the interior ministry in December, two decades after it was disbanded. Its main job is to organise and monitor the police.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

UAE’s Masdar signs deal to build solar power plant in Kyrgyzstan

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JAN. 10 2023 (The Bulletin) — The UAE’s Masdar has signed a deal to build a 200MW solar power station in Kyrgyzstan, media reported. Kyrgyzstan, like the rest of the Central Asia region, needs to ramp up its electricity production fast. It has also come under major criticism for the collapse in the quality of air around Bishkek.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Saakashvili is suffering from dementia and spasms – US neurologist

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JAN. 9 2023 (The Bulletin) — A US neurologist told a court in Georgia that former Georgian president Mikhail Saakashvili is seriously ill and suffering from dementia and spasms. The neurologist also said that Saakashvili was too ill to face a trial. Saakashvili has been in prison since he returned from self-imposed exile in 2021. He is accused of various abuses of power when he was Georgia’s president between 2004-13 but has protested his innocence through hunger strikes.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Kazakh government sets up “yurts of invincibility” in Ukraine

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JAN. 6 2023 (The Bulletin) — The Kazakh government set up two so-called “yurts of invincibility” in Kyiv and Bucha to give people warm food and drinks and allow them to power up their mobile phones. Ukraine’s government has set up various “points of invincibility” to help people cope with a bombing campaign by Russia aimed at knocking out civilian heat and power sources. Russia has accused Kazakhstan of siding with its enemies.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023

— Copyright the Central Asia & South Caucasus Bulletin 2023

Turkey lifts ban on sending cargo flights to Armenia

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JAN. 6 2023 (The Bulletin) — Turkey lifted a ban on cargo flights to Armenia, part of its package to “normalise” relations. The move was agreed in July 2022 and is designed to lay the foundations for the slow opening of the Armenia-Turkey border. There have been no diplomatic or trade relations between Turkey and Armenia since 1993 when the border was closed. Armenia and Turkey have agreed to open the border to citizens of third countries although they have not put a timeline on this.

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— This story was published in issue 532 of the Central Asia & South Caucasus Bulletin, on Jan. 16 2023