JUNE 25 2015 (The Conway Bulletin) – Kazakhstan is one of the least energy efficient countries in the world for generating economic growth, Tomasz Telma, regional director for Europe, Middle East and North Africa at the World Bank’s International Finance Corporation, told Bnews.kz.
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(News report from Issue No. 237, published on June 25 2015)
JUNE 25 2015 (The Conway Bulletin) – Iran has agreed to boost the amount of cotton and fertiliser from Uzbekistan that it transports along its railway, media reported. Transit routes through Iran, Central Asian states gain access to ports on the Persian Gulf.
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(News report from Issue No. 237, published on June 25 2015)
JUNE 22 2015 (The Conway Bulletin) -Turkmenistan, Azerbaijan and the European Union will set up a working group to look at the best way to deliver Turkmen gas to European consumers, media reported quoting the European Commission. This is, probably, an important step forward for Turkmenistan which wants to send its gas across the Caspian Sea to Europe.
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(News report from Issue No. 237, published on June 25 2015)
JUNE 24 2015 (The Conway Bulletin) – MPs in Kyrgyzstan resisted an attempt by the Ata-Meken party to impose stricter mining techniques at the Kumtor gold mine. Ata-Meken is part of the ruling coalition. Kumtor is owned by Toronto-based Centerra Gold. Kyrgyzstan has been arguing with Centerra over ownership of the mine.
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(News report from Issue No. 237, published on June 25 2015)
JUNE 25 2015 (The Conway Bulletin) – Tajikistan increased exports of electricity to Afghanistan by a third in May compared to the same month in 2014, media reported quoting official statistics. This is important because international backers view Tajiksitan’s hydro-generated electricity as a decent export.
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(News report from Issue No. 237, published on June 25 2015)
JUNE 23 2015 (The Conway Bulletin) – The Kazakh Central Bank cancelled BTA’s banking licence, officially ending its banking activities. BTA, which had once been one of Kazakhstan’s biggest banks, merged with Kazkommertzbank earlier this year. It assumed a massive proportion of bad debt in the 2008/9 Global Financial Crisis.
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(News report from Issue No. 237, published on June 25 2015)
JULY 22 2015 (The Conway Bulletin) – Yaver Jamalov, Azerbaijan’s defence industry minister, said he wanted to increase the number of countries that Azerbaijan exported its weapons and ammunition to. Mr Jamalov said he had concluded a deal with Iraq’s government to supply hundreds of grenade launchers and mortars.
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(News report from Issue No. 241, published on July 23 2015)
JUNE 18 2015 (The Conway Bulletin) – A court in west Kazakhstan handed the Karachaganak oil and gas project a fine of 7.3b tenge (roughly $40m) for excessive flaring, media reported quoting a court statement. Karachaganak’s shareholders are BG Group, Eni, Chevron, Lukoil and Kazmunaigas.
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(News report from Issue No. 236, published on June 18 2015)
JUNE 16 2015 (The Conway Bulletin) – Kazakh carmakers doubled domestic production in May compared to April, according to the Association of the Kazakh Automobile Business, but overall sales are still lower this year.
Car production and demand are a decent weathermast for checking the health of economies. Kazakhstan, like the rest of the region, has been struggling to cope with the fallout from a decline in economic conditions, linked mainly to a fall in global oil prices.
This drop in car sales and production numbers.
Overall, car sales have slumped by around a third in Kazakhstan in the first quarter of the year compared to 2014 but there was a definite uptick in domestic production last month. Domestic manufacturers produced 2,611 new cars in May up from t 1,248 cars in April.
The car market is still suffering from slow sales in the first quarter of 2015, down 32% from the last quarter of 2014.
Car manufacturing has become increasingly important to Kazakhstan’s economy, employing hundreds of people. Most of the industry is based around Kostanai in the north of the country and Oskemen, or Ust-Kamenogorsk as it was called until recently, in the east.
In Kazakhstan, car sales hit 160,000 in 2013, up nearly 70% from 2012. There was a slight drop in 2014 and 2015 is shaping up to be an even bigger drop. This will likely be the first time that car sales have declined for two years in a row in Kazakhstan since 2008 and 2009, during the global economic crisis.
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(News report from Issue No. 236, published on June 18 2015)
JUNE 12 2015 (The Conway Bulletin) – Turkmen President Kurbanguly Berdymukhamedov was one of a handful of international leaders to head to Azerbaijan for the opening ceremony of the European Games. In Baku, he held talks with Azerbaijani President Ilham Aliyev. Turkmenistan wants to send gas to Europe via Azerbaijan.
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(News report from Issue No. 236, published on June 18 2015)