Tag Archives: business

Azerbaijan’s electricity production falls

JUNE 18 2016 (The Conway Bulletin) – Azerbaijan’s Statistics Committee said electricity production fell by 7% in the first five months of the year to 9.3b kWh, compared to the same period last year. Azerbaijan’s thermal power plants, which generate the bulk of electricity in the country, produced 10% less electricity than last year. Hydroelectric power plants increased production by 15%.

ENDS

(News report from Issue No. 286, published on June 24 2016)

EU bans Kazakh and Kyrgyz airlines

JUNE 17 2016 (The Conway Bulletin) – The European Union published an updated list of banned airline companies, which included 19 Kazakh and 13 Kyrgyz companies. Airline safety is still below international safety standards in Central Asia and the South Caucasus, according to most aviation agencies. Air Astana, part-owned by British BAE Systems, is the only airline allowed to fly to the EU.

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(News report from Issue No. 286, published on June 24 2016)

Tajik President sets power output goal

JUNE 21 2016 (The Conway Bulletin) – Tajik President Emomali Rakhmon said electricity generation in his country will grow by three times by 2030. Mr Rakhmon set the power output goal at 45b kWh/year, compared to 17b kWh last year. In addition, Mr Rakhmon said the country’s export potential will grow to 10b kWh/year. Tajikistan is tasked with generating most of the electricity for the CASA-1000 power transmission line to Pakistan.

ENDS

(News report from Issue No. 286, published on June 24 2016)

Manas halts trading before announcing Kyrgyz acquisitions

JUNE 23 2016 (The Conway Bulletin) – Australia-based Manas Resources said it halted trading on the Australian Stock Exchange as it prepares the announcement of new acquisition at its Kyrgyz operations. Manas is developing two gold mines in southern Kyrgyzstan. The trading halt is a precautionary measure adopted to avoid speculation over the company’s share price. Trading will resume on June 27, the company said.

ENDS

(News report from Issue No. 286, published on June 24 2016)

Mine brawl leaves injured people in Kazakhstan

JUNE 17 2016 (The Conway Bulletin) – A brawl between private security guards and miners in Bestobe, a village 200km north-east of Astana, left as many as 16 people injured, highlighting a worsening labour dispute at the mine. Private security guards working for Kazakhaltyn, owned by Netherlands-based Institute Project, forcefully broke up a short-lived demonstration. Many of the miners said the incident echoed Zhanaozen, scene of violent clashes between police and oil workers that left at least 17 dead in 2011.

ENDS

(News report from Issue No. 286, published on June 24 2016)

Skyland starts production in Tajikistan

JUNE 19 2016 (The Conway Bulletin) – Australia’s Skyland Petroleum said it started operations at its first well at the Kyzyl-Tumshuk oil and gas field in southern Tajikistan. Skyland has actively operated across Central Asia and the South Caucasus. Skyland said the Kyzyl Tumshuk project was started below budget and will be profitable despite low oil prices.

ENDS

(News report from Issue No. 286, published on June 24 2016)

IMF approves loans for Kyrgyzstan and Armenia

JUNE 16/17 2016 (The Conway Bulletin) – The IMF approved two loans to Armenia and Kyrgyzstan, part of a three-year plan to support macroeconomic reforms. It loaned $22m to Armenia, where it supported a controversial tax reform that received a first parliamentary approval on June 15. The IMF also gave a $13m loan to Kyrgyzstan and lauded the government’s measures to boost tax revenues and cut spending.

ENDS

(News report from Issue No. 286, published on June 24 2016)

Uzbekistan to launch tunnel

JUNE 20 2016 (The Conway Bulletin) – The Uzbek government said it will launch the Angren-Pap railway service from July, opening the longest tunnel in Central Asia. The project, completed in the past few months, cost $1.6b and was partly funded by Chinese and World Bank loans. Uzbek President Islam Karimov and his Chinese counterpart Xi Jinping inaugurated the new tunnel during a ceremony in Tashkent.

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(News report from Issue No. 286, published on June 24 2016)

UMS boosts 4G in Uzbekistan

JUNE 21 2016 (The Conway Bulletin) – UMS, a mobile company jointly owned by the Uzbek government and Russia’s MTS, said it had launched 4G services in Tashkent, upgrading the capital city’s data connectivity. Competitors Ucell, part-owned by Telia Company, and Beeline, a subsidiary of Russia’s Vimpelcom, have already launched 4G services.

ENDS

(News report from Issue No. 286, published on June 24 2016)

EBRD issues lari bond in Georgia

JUNE 17 2016 (The Conway Bulletin) – The EBRD said it issued a 107m lari ($50.2m) bond in Georgia, the second lari-denominated public bond issued by the bank. The five-year bond has an initial yield of 6.45% and will be listed on the Georgian Stock Exchange. The EBRD launched its first domestic bond in Georgia in March 2014. The value of the original two-year bond was 50m lari (around $30m at the time).

ENDS

(News report from Issue No. 286, published on June 24 2016)