Tag Archives: business

Gazprom quits Tajik exploration

JAN. 13 2015 (The Conway Bulletin) — Russia’s Gazprom has given up searching for oil in two of its four exploration blocks in Tajikistan, media reported. Interfax, a Russian news agency, said that Gazprom had been working since 2003 on the projects. It still plans to explore its two remaining blocks. Tajikistan has said that it hopes a major oil and gas discovery will boost its economic prospects.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 214, published on Jan. 14 2015)

Veggie options are rare in Kazakhstan

KYZYLORDA/Kazakhstan, JAN. 14 2015 (The Conway Bulletin) — Vegetarianism is growing in popularity in Kazakhstan although ordering it successfully can still be a challenge, even for a well-known pop star.

Pasquale Caprino, an Italian singer who goes by the name of Son Pascal and has made Kazakhstan his home, was trying to order a bowl of vegetarian soup at a restaurant in Kyzylorda.

He’d headed out to this remote and barren medium-sized town in south-central Kazakhstan to shoot a music video.

The restaurant was making an effort with its Alpine chalet-style decorations and uniforms for the staff. It contrasted nicely with the concrete skyline outside. In the corner, overlooking the diners was a full-sized taxidermy of a snarling wolf.

Caprino wanted a bowl of cucumber soup without meat. It arrived, though, with sausage floating amongst the ubiquitous dill. Caprino tried again but in Kazakhstan where eating meat, including horsemeat, is ingrained into the national consciousness the waitress thought that she was being teased. He sighed and pushed away the bowl.

This story of frustration for vegetarians is common in Kazakhstan, said Baur Safi and Stanley Currier — two Almaty-based bloggers who run the vegetaristan.com website.

“During holidays or weddings, it is extremely difficult to find anything other than bread and a cucumber and tomato salad that a vegetarian can eat,” said Currier, a native of California.

Safi, a Kazakh, said, though, that it had become far easier in Almaty, at least, to order vegetarian dishes than it had been several years ago. Much of this is down to the introduction of cuisines that don’t use meat rather than any sort of pro-vegetarian groundswell.

“Many locals equate being vegetarian to being gay,” he said. “It’s a question of ethics, as if you’re trying to be special, and of machismo, which is linked to eating meat.”

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 214, published on Jan. 14 2015)

Food prices in Kazakhstan rose by 20% in 2014 -media

JAN. 9 2015 (The Conway Bulletin) — Food prices in Kazakhstan have increased by nearly 20%, the news website zakon.kz reported. Its unofficial survey of prices said they had risen far more than the official Statistics Committee data showed. Wheat, zakon.kz reported, had increased the most with a 25% rise in 2014.

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(News report from Issue No. 214, published on Jan. 14 2015)

Azerbaijan bans UK tour company

JAN. 12 2015 (The Conway Bulletin) — Azerbaijan’s ministry of culture has said it may ban British tour operator Regent Holidays after the company started advertising trips to Nagorno-Karabakh via Armenia. Azerbaijan and Armenia are still officially at war over Nagorno-Karabakh.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 214, published on Jan. 14 2015)

Berdymukhamedov sacks energy chief

>>Sackings come shortly after currency devaluation>>

JAN. 11 2015 (The Conway Bulletin) — It’s been a busy start to 2015 for Turkmen president Kurbanguly Berdymukhamedov. He ordered the devaluation by 20% of the manat on Jan. 1 and now he has sacked both the head of the state gas company Turkmengaz and the head of the Central Bank.

Mr Berdymukhamedov appears frustrated at the relative sluggish nature of recent growth in the Turkmen economy. Much of this can be attributed to the 50% fall in energy prices and the drop in the value of the Russian rouble, so important for the economies of Central Asia.

But Mr Berdymukhamedov said that Turkmengaz head Kakageldy Abdullayev was to blame.

“We could have raised production and exports of liquefied gas and other products which are in great demand on world markets,” Reuters quoted him telling a government meeting.

Mr Berdymukhamedov is fond of culling his top officials. Mr Abdullayev had only been in the job for a year. His replacement was named as Charymuhammed Hommadov.

The day before, Mr Berdymukhamedov had also sacked the head of the Central Bank, the head of the state-run Prezidentbank and also the agriculture bank Daikhanbank.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 214, published on Jan. 14 2015)

Azerbaijani bank looks for sukuk

JAN. 13 2015 (The Conway Bulletin) — Highlighting the growing attraction of Islamic finance in the region, International Bank of Azerbaijan (IBA) said it wanted to raise $200m-$300m later this year through a sukuk. A sukuk is the name of an Islamic bond. IBA is a government owned bank. It raised $252m through a sukuk in 2014.

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(News report from Issue No. 214, published on Jan. 14 2015)

Azerbaijan raises fuel prices

>>People in Baku worry that fuel price rises may also accelerate inflation>>

JAN. 12 2015 (The Conway Bulletin) — Oil prices may be falling on the world market but in Azerbaijan the cost of filling your car with either petrol or diesel has actually increased.

The government announced that it was putting the price of fuel up by 0.02 manat to 0.7 manat ($0.9) for a litre of petrol and 0.62 manat for diesel.

This sounds like a marginal increase only but, given the 50% drop in oil prices, actually represents a sharp rise.

Independent observers say that this is another attempt to fill the state budget, so dependent on oil revenue, with cash.

The government, though, has said the price increase was due to the inclusion of a road tax on oil products produced in Azerbaijan for domestic consumption, as well as imported from abroad.

In a suburb of Baku, 52-year-old taxi driver Ahmed Huseynov was waiting for customers at a taxi rank. It was a damp, dreary afternoon. The roads and rooftops were sodden and slippery after the first snows of the year.

“Every day we hear on the news that oil prices are decreasing which logically should have led to a decrease in fuel prices too,” he said. “I don’t understand the government’s decision.”

Azad Gayibov, 38, a school teacher and father of two, said the fuel price increases will mean careful budget planning for his family. “It does not mean an increase in fuel prices only, but also a deterioration in the entire economy.”

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(News report from Issue No. 214, published on Jan. 14 2015)

Kyrgyzstan boosts coal production

DEC. 27 2014, (The Conway Bulletin) — With gas supplies limited this winter, Kyrgyzstan has been reverting back to coal to keep its electricity and heating on, media reported. Media reported that state-owned coalminers produced 1.5m tonnes of coal in the first 11 months of last year, up by 22% from a year earlier.

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(News report from Issue No. 213, published on Jan. 7 2015)

Oil shipments from Batumi, Georgia, drop

JAN. 5 2015, (The Conway Bulletin) — Crude oil and oil product shipments from the Georgian port of Batumi fell by around 22% in 2014 compared to 2013 because of lower than expected exports from Kazakhstan and re-routing through pipelines, a port official told Reuters. Batumi oil terminal is controlled by Kazakh state energy company KazMunaiGas.

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(News report from Issue No. 213, published on Jan. 7 2015)

KazKom profit drops on BTA buy

DEC. 11 2014, (The Conway Bulletin) — Kazakhstan’s Kazkommertsbank posted a drop in profit for the nine months to the end of September 2014 of 10% mainly due to its purchase of BTA Bank which has a large amount of debt, media reported. Analysts said that Kazkommertsbank bought BTA Bank for political rather than business reasons.

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(News report from Issue No. 213, published on Jan. 7 2015)